Instructor
David Peters
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Instructor
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
Certifications
Activities & Associations
When putting together a financial plan for an entrepreneur, it is important to remember that the tax situation of the business and the individual are often intertwined. Therefore, decisions about entity type are vitally important. Practitioners need to understand not only how different entities are taxed, but also which taxes will have the greatest impact on the individual owner. In this course, we will explore when self-employment taxes apply to business income, as well as some of the lesser-known taxes that apply to flow-through entities. We will even explore when a PTE election could be helpful to a small business owner.
- State the basic distinctions between various entity types
- Identify when self-employment taxes must be paid by a flow-through entity owner
- Recognize how an S-Corporation can avoid the built-in gains tax
- Recall which entity types may make a PTE election under IRS Notice 2020-75.
- Considerations for a Small Business Owner
- Self-Employment Taxes
- Guaranteed Payments to Partners
- QBI Deductions – Sec 199A
- Built-In Gains Tax – S-Corporations
- Excess Passive Income Tax – S-Corporations
- PTE Elections – S-Corporations & Partnerships
- Taxation of Fringe Benefits – S-Corporations
- Double-Taxation of C-Corporation Dividends
- Taxation of Limited Liability Companies
- Which Entity to Choose?
Basic understanding of the federal taxation of different entity types.
Financial advisors and tax practitioners who work with entrepreneurial clients or clients in the beginning stages of starting a business.
