Beach Retreat: Lifecycle Financial Planning - Getting Money to Small Business Owners

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Instructor

David
Peters

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David Peters, CPA, CFP, CLU, CPCU, MST, MBA

Bio

David R. Peters, CPA, CFP, CLU, CPCU, MST, MBA

Founder & Owner, Peters Professional Education

David Peters is the Founder and Owner of Peters Professional Education in Richmond, VA, and is registered with the U.S. Securities and Exchange Commission (SEC) as an Investment Advisor Representative (IAR) with Peters Financial LLC. He has over fifteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry.

David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for Surgent, Kaplan, the AICPA and Don Farmer Tax Courses. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the United States.

He holds four master’s degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the Virginia CPA Ethics course in 2018, 2019 and 2020 – a required course for all CPAs licensed in the Commonwealth of Virginia.

Education

The American College, Bryn Mawr, PA

Ph.D. Financial Planning & Retirement Income - Current

M.S. Financial Services - 2014

Virginia Commonwealth University, Richmond, VA

M.B.A. Master of Business Administration - 2011

Pittsburgh Theological Seminary, Pittsburgh, PA

M.Div. Master of Divinity - 2006

University of Illinois, Champaign, IL

M.S. Accounting – 2004

Certifications

Certified Financial Planner (CFP) - Since December 2013

Certified Life Underwriter (CLU) - Since June 2013

Certified Financial Consultant (ChFC) - Since June 2013

Certified Property & Casualty Underwriter (CPCU) - Since May 2013

Certified Global Management Accountant (CGMA) - Since July 2012

Certified Public Accountant (CPA) - Virginia, North Carolina, South Carolina

Activities & Associations

Board Member at Leadership Metro Richmond

American Institute of Certified Public Accountants:

Young Member Leadership Committee (since 2016)

Member Retirement Committee (since 2016)

Financial planning for a small business is inherently tied with the owner. When you plan for the future of the company, you are planning for the individual as well. Trying to get the owner additional cash from his/her company is a common issue faced by many advisors. However, it is important to realize that the form of that cash movement may result in very different tax implications. Using easy to understand examples and cases, this course will explore the common methods used to transfer cash from a small business to the owner him/herself. We will look at how the tax implications differ depending on entity type and the form of payment.

Please note – materials for this event will be provided electronically ONLY. Please feel free to bring your own device to view the materials. We recommend that you download them prior to the event date rather than onsite.

Learning Objectives

Compare the basic tax implications of distributions from a C-Corporation, S-Corporation, and Partnership
Calculate the tax implications of cash distributions and property distributions from S-Corporations and Partnerships
Calculate tax basis for a partnership and an S-Corporation
Identify the factors that establish reasonable compensation, reasonable rent, and reasonable loans between a closely-held entity and its owner