Important concepts about what an S election is and specific requirements once it’s elected.

In Session 1, Angie Toney will guide you through electing an S Corp by completing a Form 2553 and how to prepare a proper 1120S return. You will come away with a balance sheet template and a preparation check list Tax Pros need for the forms required. This workshop is not only about strengthening your skills in representation and S Corp filings, it’s also about how to serve your representation clients with excellence and intention.

Learning Objectives: 

• When to elect an S Corp and the forms to complete for the return.
• Step-by-step on how to file an 1120 S tax return
• Analyzing the tax return for SMLLC business and completing Form 2553
• Form differences for late-elections
• Understanding regulations specific to the state in which you do business
• Converting the bookkeeping and how it effects the tax return
• Tracking basis and payroll when it comes to distribution

Important concepts about S Corp election, problems associated with tax returns and what happens the entity ends; Case study presented

In this session, Angie will get a little more complex into the aspects of planning. This session adds in other important services to practice to generate more sustainable income.

Learning Objectives: 

• Analyzing payment on fringe benefits and proper accounting for the 2% or greater shareholder
• Understanding potential red flags and how do you go about correcting them
  • RED FLAG #1: Not having accountable plans set up
  • RED FLAG #2: Distributions with no payroll
  • RED FLAG #3: No reasonable compensation
• Overview of the 3 planning strategies that are quick wins to save money
  • Strategy #1: Augusta rule
  • Strategy #2: Retirement
  • Strategy #3: Maximizing Deductions (e.g. travel and meals)

Understand how quickly and easily you can get clients back into compliance. You will go through a case study on unfiled returns and understand how to make these follow on clients.

Learning Objectives: 

• Documents you’ll need and forms to fill out
• How to get the deduction numbers and income to fill out forms
• Realize that getting people in a better place leads to follow-on

Important information will be shared affecting tax year 2022, including qualifying for tax reliefs related to natural disasters and how to claim the loss. If you have a small business, understand which tax credits and benefits are available to lower tax liability.

Learning Objectives:

Understand items affecting the tax year and discuss qualifying reliefs.

Obtain the know-how with step by step processes to complete tax representation and planning cases. We’ll go through case studies and specifics, so you feel solid in your offerings.

Learning Objectives:

This deep dive is a tax professionals’ experiential workshop and toolkit to delivering in excellence when it comes to representation and strategy.

Important information will be shared affecting tax year 2022, including qualifying for tax reliefs related to natural disasters and how to claim the loss. Understand which tax credits and benefits are available to lower tax liability for the small business owner.

Learning Objectives:

Understand items affecting the tax year and how the business owner can get them at a lower tax liability.

As Tax Pros, what makes us tick? How do we best serve our clients and ourselves outside of the hustle and bustle of tax season. This presentation shows how to connect with your clients and build your practice in a way that suits you!

Learning Objectives:

• Using practice management to suit you
• Find ways to make deeper connections with clients
• Learn easy ways to scale your practice and business development skills

Focusing on the soft skills, grow your business in easy ways that will create success. This presentation shows how to connect with your clients and build your practice in a way that suits you!

Learning Objectives:

• Understand what a “soft skill” is
• How to use them to your advantage by connecting more deeply with your clients
• Learn easy ways to scale your practice and business development skills