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10 Tax Issues All Lawyers Advising Small Businesses Should Know

Content Provider
American Law Institute CLE
Product
CLE
Run Time
94 Minutes
Recording Date
05/07/2021
Presenter(s)
Kathleen E. Pfutzenreuter, Benjamin A. Wagner
Learning Method
On-Demand Training
Practice Area
Taxation, Corporate and Business Law
Persona
CLE OnDemand

Price $259.00

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Description

As an attorney, you need to be knowledgeable enough to answer the most common tax questions that crop up during a consultation with a small business owner. Watch this 90-minute video as our expert faculty will address tax issues that lawyers encounter when providing legal and strategic guidance as businesses grow and mature, including: • When to advise and when to refer a client to a tax specialist. • Allowable deductions for those working from home. • When to use business accounts vs. personal accounts. • Can business owners hire and pay their kids out of their business? What about spouses and parents? • How to maximize the 20% deduction for LLCs and S-Corps. • How should owners determine “income”? • How to decide if relocating makes sense to take advantage of tax benefits. • When can high-end possessions like cars, boats, and planes be deducted? • Classification and tax issues to consider when hiring an employee vs. an independent contractor. • Common issues facing a retiring business owner. If you are licensed in New York, this content is appropriate for both newly admitted and experienced New York attorneys. Although, this content is appropriate for all New York attorneys, newly admitted attorneys cannot earn CLE credit for the completion of the course when presented via on-demand.

Literature

State Status Total Credits Type Of Credit Approved Thru
AlaskaApproved1.50GeneralOn-going
ArizonaApproved1.50GeneralOn-going
ArkansasApproved1.50GeneralOn-going
CaliforniaApproved1.50Participatory05/06/2026
ColoradoApproved2.00General12/31/2025
ConnecticutApproved1.50GeneralOn-going
IdahoApproved1.50General05/06/2026
KansasPending State Response0.00
MainePending State Response0.00
MississippiPending State Response0.00
MissouriApproved1.90GeneralOn-going
MontanaPending State Response0.00
NevadaApproved1.50General12/31/2024
New HampshireApproved1.60General05/06/2024
New JerseyApproved1.50GeneralOn-going
New MexicoApproved1.60General05/06/2026
New YorkApproved1.50SkillsOn-going
North CarolinaPending State Response0.00
North DakotaApproved1.50General05/06/2024
OregonApproved1.50General05/06/2024
South CarolinaApproved0.00
UtahPending State Response0.00
VermontApproved1.50GeneralOn-going
WashingtonApproved1.50General05/06/2026
West VirginiaApproved1.88GeneralOn-going
WisconsinApproved1.50GeneralOn-going

Speakers