Tools and Resources Archives - Think Outside the Tax Box

Tools and Resources

By Sean H. Adams, CPA

Live Webinar Event: Qualified Plans with Unique Options

The IRS is deploying technology and big data to combat compensation under-reporting. What does this likely mean for you and your S Corps? That Reasonable Compensation challenges will likely occur outside the traditional exam process. A challenge may come from the ongoing Employment Tax Program or the recently launched CIP.

From our polling, we find most tax advisors and their S Corp clients are dangerously unprepared for an IRS reasonable compensation challenge. If you are working with S corps, here’s the news you need to know...

READ MORE

Live Event! Reasonable Compensation for S Corps Webinar

A TOTTB Live Webinar Event sponsored by our friends at RCReports! For two decades the IRS has been preparing an assault on reasonable compensation for S Corps. Their arsenal is now fully locked and loaded. In it, there is everything from commonsense tools to obscure memos. We will explore key court cases, IRS guidelines, preparer penalties and some of the obscure weapons the IRS has put in place. We debunk common myths and fiction on how reasonable compensation should be calculated and replace it with facts and methodologies that the IRS relies on.

Read More

Real Estate Developments Investments with Mineral Easements Option Course

This session will cover the basics of tax-efficient real estate strategies, specifically real estate development investments with a conservation easement option. The structure of each type of offering will be outlined in detail. The history of the laws addressing conservation easements will be discussed including an in-depth explanation on the current legislative landscape. Since the nature of each deal is driven by an underlying commodity, details outlining valuation and current market trends will be covered including the appraisal processes. Partnership voting will also be explained.

Read More

The Inflation Reduction Act Tax Credits Course

The Inflation Reduction Act of 2022 expanded existing energy credits and created brand new ones. There are now several new ways tax professionals can help taxpayers save thousands of dollars a year by planning for these tax credits. In this webinar, we will cover the credits likely to be used by individuals and small businesses. We will also discuss tax planning considerations and areas in need of additional guidance.

Read More

The Inflation Reduction Act Town Hall

We’re hosting a live open discussion forum to help educate you on the new Inflation Reduction Act! The recently passed Inflation Reduction Act (IRA) makes some big promises: lower energy costs, provide tax credits for electric vehicles, negotiate cheaper medications for seniors, deliver faster tax refunds, and create more responsive IRS agents! How all these promises are paid for and how they impact the average American are already the topic of intense debate and, in some cases, the cause of outright fear! In fact, there has been so much concern and debate around this new bill that we’ve decided to hold a town hall on the subject! Keep reading to get all the details...

Read More

2022 Summer Education Series Event Calendar

TOTTB proudly introduces our 2022 SUMMER EDUCATION SERIES! That’s right! Every month through August we will be bringing you a FREE, live webinar event to help educate and inspire you on all things tax! As a monthly or annual subscriber, these webinars are 100% exclusive, and free to you! Guest speakers include regular columnist, Peter Reilly, Boston Tax Institute Founder, Lucien Gauthier, the Tax Mama, Eva Rosenberg, and more! Every webinar comes with free continuing education credits for those who qualify! Keep reading for more details...

Read More

Upgrade Your Client Experience with a New Mindset

Sponsored by Liscio You care deeply about your clients. It’s why you got into this business: to have a direct impact on your clients’ success. With this in mind, understanding where your firm falls on the spectrum of great vs. poor client experience is fundamental to your success. At its core, drop-dead easy, secure digital communication and document exchange are everything in your clients’ minds, even if they don’t say it. Beyond just taking great care of your clients, if you want to get paid premium fees, you have to deliver a premium experience. Keep reading to learn how to deliver premium level service.

Read More

Cecile Barker and Why You Need to Keep Records Longer Than You Thought

Cecile Barker has bad news from the Eleventh Circuit. They have upheld the Tax Court’s disallowance of his multi-million dollar net operating loss deduction (NOL) largely generated by SoBe Entertainment LLC. SoBe Entertainment is a record label that has represented numerous artists included Brooke Hogan, daughter of Hulk Hogan. The indirect Hulk Hogan connection makes Mr. Barker a tangential figure in a fascinating story you can read about in Conspiracy – Peter Thiel, Hulk Hogan, Gawker and the Anatomy of Intrigue by Ryan Holiday. For purposes of this article, we will stick to the tax story which began with a Tax Court opinion in 2018, which I covered previously.

Read More

Why Can’t I Deduct PPP Payroll Expenses?

Question: Given the recent passing of the stimulus law (CAA 2021) permitting a business to deduct payroll expenses paid with Paycheck Protection Program (PPP) funds, how does an S corporation or Partnership basis negatively impact this? I’m hearing that even though the law allows the deduction, some businesses will have suspended losses due to PPP funds. Which is true? Can a business deduct losses from PPP payroll or not?

Read More
  • NOT A MEMBER YET?

    SUBSCRIBE TO GET ALL OF OUR
    GREAT ARTICLES AND RESOURCES!

  • Scroll to Top
    error: Alert: Content is protected !!