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Tax Reform's Impact on Employers, Employees, and C-Corporations

Gain a better understanding of how employees, employers, and C-Corporations are affected by the challenges and benefits of the new law.

The Tax Cuts and Job Act of 2018 (TCJA) will impact wage earners, business owners and shareholders of Sub Chapter C- Corporations in very different ways. Some wage earners will benefit from the lower tax rates while others will experience an increase due to the loss of certain tax deductions. Employers doing business as partnerships, S-Corporations and sole proprietors may realize tax savings from a discounted profit margin but they will quickly discover there are limitations and restrictions. And C-Corporations which have the most dramatic drop in tax rates are also challenged when attempting to unlock shareholder profits. This topic will examine all of these issues.

Runtime: 114 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Impact of the Tax Cuts and Job Act of 2018

  • Wage Earner Challenges and Benefits
  • Employer Challenges and Benefits
    • Corporation Shareholders
    • Partners in Partnerships
    • Sole Proprietorships
  • Challenges and Benefits Underlying Sub Chapter C-Corporations

Planning Considerations for Employees, Employers and Shareholders of C-Corporation Under TCJA

  • How Business Restructuring May Reduce Tax Liabilities
  • Understand the Silver Lining That Exists for Sole Proprietors Under New Section 1031 Like-Kind Exchange Rules
    • How Employee/Shareholders May Recover From the Loss of Unreimbursed Business Deductions
  • How Employees and Business Owners Can Release Deferred Stock Losses Trapped in "Wash Sale Loss Rules"
  • How Partners and Shareholders of S-Corporations Can Harness Inherent Business Risk to Offset the Loss of Tax Benefits Discounted Tax Profits
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on October 30, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

E. Pete Lewis, MBA, CPA, EA

E. Pete Lewis, MBA, CPA, EA

Lewis & Associates Tax Planning, Inc.

  • Principal at Lewis & Associates Tax Planning, Inc., (LATP) in St. Charles, Illinois
  • CPA and enrolled agent admitted to practice before the IRS
  • Organized LATP in 2008 after spending 30 years of working in tax management positions for Chicago area law firms, public accounting firms and corporations
  • Conducts live workshops and webinars on tax planning topics and IRS debt resolution strategies
  • Practice concentrates on tax planning, tax controversy and IRS representation
  • Adjunct professor at DePaul University’s School of New Learning and University of Phoenix, Chicago on ground campus
  • Can be contacted at 630-845-9664, [email protected], or www.taxadvisorstcharles.com
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 404848
Published 2018
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