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Course Details

This webinar will point out key decisions and tax opportunities that new companies and their advisers should consider. Our panel of tax and transaction experts will guide you through selecting the most suitable structure, handling startup costs, and recognizing federal and jurisdictional tax incentives, as well as other key tax considerations that new businesses should not overlook.

Faculty

Description

Before starting a business and while in the early planning stage, key decisions must be made; some early considerations can result in significant tax savings for new companies. First and foremost, there is the choice of entity. There are benefits and drawbacks for each entity type. This choice determines whether the owner draws a salary, the business or individual reports the business income, and the overall tax remitted by the company and its owners. 

Tax credits and incentives are offered for research and development costs. The R&D credit can significantly offset product development costs. Structured properly, capital gains from the eventual sale of qualified small business stock (QSBS) could be eliminated. 

Equity compensation can be a powerful tool for attracting and retaining key employees. Early consideration of methods of compensation, including options (incentive vs. non-qualified), a profits interest, or carried interest, for example, can ensure business goals are met and tax consequences are minimized. Business entrepreneurs and their advisers need to be aware of the importance of initial decisions to facilitate future business operations.

Listen as our panel of federal tax advisers points out considerations that are essential for business startups.

Outline

I. Tax considerations for startups: introduction

II. Choosing the entity type

III. Tax credits and incentives

IV. Startup costs

V. Equity compensation

VI. Qualified small business stock (QSBS)

VII. State and local taxes

VIII. Sales tax

IX. Recordkeeping and compliance

X. Advisers

XI. Other considerations

Benefits

The panel will cover these and other critical issues:

  • How the R&D credit can offset product development costs
  • Structuring equity compensation agreements to minimize tax and meet business goals
  • Recordkeeping and compliance obligations of new businesses
  • Utilizing QSBS provisions to mitigate or eliminate capital gains tax

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify key tax incentives offered by federal and jurisdictional tax authorities
  • Determine the tax implications of various entity structures
  • Decide when and how to amortize or deduct startup costs
  • Ascertain how equity compensation arrangements can be used to attract and retain key employees


  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite:

    Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of pass-through taxation, including taxation of partnerships, S corporations and their respective partners and shareholders.


Strafford Publications, Inc. 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 Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).