Content Provider
Thompson coburn llp

Self-Study CPE
FRINGE BENEFITS ALPHABET SOUP
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AMENDING TAX RETURNS: THE X FACTOR
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2022 FILING SEASON CHANGES FOR 1099 REPORTING
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INDIVIDUAL TAX UPDATE 2022
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BUSINESS TAX UPDATE 2022
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CRYPTOCURRENCY TAXATION: WHAT PRACTITIONERS NEED TO KNOW
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CRYPTOCURRENCY TAX UPDATE 2022
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IRS FORM 1040 SCHEDULES C AND E: SIMILARITIES AND DIFFERENCES
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AFFORDABLE CARE ACT: INDIVIDUAL RIGHTS & RESPONSIBILITIES
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THE SECTION §199A PASS-THROUGH DEDUCTION
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Free cpe webinars
State Tax in Estate Planning; Employment Tax; Blockers; S Corp 1 Class of Stock

STATE TAX IN ESTATE PLANNING; EMPLOYMENT TAX; BLOCKERS; S CORP 1 CLASS OF STOCK

Available Date(s)
Friday, September 30, 2022: 9:00AM EDT

Cost Free
CPE Credits 1.5 hours
Subject Area 1.5 - Taxes
CE Credits 0.0 hours
Course Level Advanced
Instructional Method Group Internet Based
Prerequisites Basic knowledge of estate planning and pass-through entities
Advanced Preparation None
Course Description

Drawn from Steve Gorin’s 2nd quarter 2022 newsletter, this course discusses recent developments in state income tax of business sales, state estate tax, and whether (from an estate planning viewpoint) to try to deduct state income tax attributable to pass-through business income. We will briefly review recent developments in nonresident trusts paying income tax on pass-through business activity and resident estate taxation of QTIP trusts. Then we will spend some time on estate planning implications of states’ efforts to work around federal limitations on deducting state taxation of pass-through business income.

We will also discuss a potpourri of employment tax issues, as well as why giving Form 1099 to an officer can be a bad idea and how a service recipient got his hand slapped for reporting compensation as a gift. We will look at the IRS’s reaction to a Sixth Circuit case regarding S corporation compensation issues and how deferred compensation can wreak havoc in the sale of a business structured as an asset sale. Finally, we will review the S corporation second-class-of-stock prohibition, which is intertwined with the other topics to some extent.


Learning Objectives:


  • Review estate planning implications of state tax issues

  • Demonstrate the pitfalls of self-employment blockers

  • Identify how the IRS attacks on playing games with how one reports employment income

  • Review how S corporations might deal with practical issues that may cause distributions to be disproportionate temporarily

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Thompson coburn llp

Steve has drafted trusts and a full range of estate planning documents for clients to help grow, preserve, and transmit their family wealth. He has also prepared organizational documents for limited liability companies, corporations, and partnerships to implement their owners' wishes regarding current and future control and transmission, including bringing in new owners and facilitating exit strategies. 
Steve enjoys helping clients structure their affairs to achieve their personal, business, and financial goals while reducing the drag that taxes imposed on them. His firm provides full service to businesses; however, he also acts as counsel on specialized matters while cooperating and facilitating the continued involvement of an existing legal, accounting, and financial services team. Steve maintains his CPA license but prefers to refer income tax returns to practicing CPAs.

Steve Gorin is the former president and an ongoing contributor to Covenant Place’s strategic initiatives. It is a senior affordable housing community with a groundbreaking model for integrated residents with the surrounding community and facilitating holistic services to enrich their lives. 
 
To know more about Steve Gorin, kindly click on the link below:
http://thompsoncoburn.com/people/steve-gorin
 
For various free resources Steve offers, see https://www.thompsoncoburn.com/insights/blogs/business-succession-solutions/about
 

Additional Materials
Business Structuring Materials
Big PDF Instructions
Webinar Technical FAQs
Frequently Asked Questions
  • To receive CPE credit, you must register for the webinar before it starts.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • To receive CPE for multiple attendees, at least one person must sign up for the webinar. The post-webinar email contains a link to instructions for the proctor letter. Alternatively, you may log in to your account following the webinar and click on the MY ACCOUNT button to find a link to instructions. For paid courses, payment needs to be made for each attendee before credit will be issued.
Handout Materials
Presentation Slides
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CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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About Our Presenter

Thompson coburn llp

For approximately 90 years, Thompson Coburn LLP has provided the quality legal services and counsel our clients demand to achieve their most critical business goals. Whether helping with a tax, estate planning, real estate or employment issue, navigating a complex acquisition or defending a product or service in litigation, we have the knowledge and resources to meet any legal need.


With over 380 attorneys, we have experience in more than 50 areas of the law. Supported by our firm's state-of-the-art technology, lawyers in our Chicago, Dallas, New York, Los Angeles, Southern Illinois, St. Louis and Washington, D.C. offices enjoy a nationwide practice.