Course: Small Business Deduction - What's new?

What’s New with the SBD?

The small business deduction (SBD) has been the hallmark of private corporation planning for decades. This is all about to change. The new small business deduction rules will be taking affect for the first time in 2017. It is time to understand these new rules as virtually any private corporate group with intercorporate fees shall be affected. These rules are not going away. Every accountant has to know them.

The course topics include:

1. Multiplying the Small Business Deduction and the government's efforts to restrict this practice
2. Specified Corporate Income and new definition of the specified partnership income
3. Calculating "Specified Corporate Income" - a numerical example that illustrate its complexities
4. Small Business Deduction: a checklist to be used on every client file.
5. Carve-out for associated corporations
6. The deadly back to back rules
7. Compliance Issues
8. Other Issues
9. Final Thoughts