The Texas Tax Margin: Preparing for the 2009 Tax Season Training Class

Course ID: 21111

The Texas Tax Margin: Preparing for the 2009 Tax Season Training Seminar

Confidently Answer Client Questions About the Texas Margin Tax

Get ready for the 2009 tax season with this up-to-date, comprehensive seminar on the Texas Margin Tax. Learn all the recent developments that will give you the information and confidence you need to advise your clients - and get your own business in line. After attending, you'll be able to help clients calculate their tax responsibilities by determining their total revenue, and selecting the most advantageous deduction for their particular set of circumstances. You'll also be able to assist in establishing combined reporting procedures and deal with apportionment. Learn what to do to avoid pitfalls! If the Texas Margin Tax is on your radar, this seminar will provide you with the essential details - enroll today!

Get the most recent up-to-date information on the Texas Margin Tax.
Determine which entities are - and aren't - subject to the tax.
Help clients calculate their taxable margin by understanding the tax formula.
Explain the guidelines defining revenue and deductions so your clients can compute the proper amount of tax they need to pay.
Establish combined reporting structures for entities with two or more affiliated entities.
Understand the rules governing tax credits and unitary tax principles.


	Agenda
	AM Session 8:30 - 12:00 Matthew L. Larsen UPDATES AND ISSUES Most Recent Updates to the Margin Tax Review of the 2008 Tax Season: Lessons for the Upcoming Tax Season CALCULATING TAXABLE MARGIN Capped at 70% of Total Revenues Annual Election to Deduct Cost of Goods Sold (COGS) or Compensation Bifurcated Tax Rate EZ Computation for Small Businesses TAXABLE ENTITIES Partnerships Corporations Banking Corporations Savings and Loan Associations Limited Liability Companies Business Trusts Professional Associations Business Associations Joint Ventures Joint Stock Companies Holding Companies Combined Groups Other Legal Entities NON-TAXABLE ENTITIES Sole Proprietorships Certain General Partnerships Passive Entities Grantor Trusts Estates Escrows Family Limited Partnerships Passive Investment Partnerships Passive Trusts REITS Subchapter B. Exempt Entities Small Business Exemption DETERMINING REVENUE Based on Federal Tax Return Line Item Entries Corporations Partnerships Other Taxable Entities Affiliated Group Members Inclusion of Passive Entity's Net Income Exclusions From Revenue Items Excluded From Revenue Excluded From COGS and Compensation Deductions Special Rules for Staff Leasing Services Companies and Management Companies Special Rules for Health Care Providers and Health Care Institutions Miscellaneous Exclusions PM Session 1:00 - 4:40 William O. Grimsinger DETERMINING COST OF GOODS SOLD (COGS) DEDUCTION Definitions Deduction Limited to Owner of the Goods COGS Deduction Consists of Specifically Identified Costs Costs Excluded From COGS Deduction Relationship to Federal Tax Accounting Principles Special Deduction for Indirect or Administrative Costs Preferential Treatment of Lending Institutions and Certain Rental or Leasing Companies Affiliated Group Members DETERMINING COMPENSATION DEDUCTION Wages and Compensation Deducted Benefits Deducted Compensation Deduction Limits Exclusions Staff Leasing and Management Companies COMBINED REPORTING Which Taxable Entities Must Report as a Combined Group Definition of Affiliated Group Definition of Unitary Business Special Rules Apply for Calculating Revenue and COGS and Compensation Deductions APPORTIONMENT Special Rules Apply for Combined Groups Receipts Excluded From Determining Revenue Excluded From Determining Apportionment Factor