Don Moragne, Founder of The Wealth Zone University, Announces New Course Detailing Owner Basis in Pass-Thru Entities

Business is about Economics and part of those economics is understanding the tax implications as a business owner. As an entrepreneur or a business owner of a pass-thru entity, then the focus should be on sufficient basis. A pass thru entity doesn’t pay taxes but passes the taxes to the owner and it then becomes their obligation to pay those taxes.

Basis is vital in tax planning and requires business owners to take advantage of Fourth quarter planning. To claim a business owner has sufficient basis they must:

  • Be able to deduct company losses
  • Avoid income taxes on non-wage distributions and draws
  • Track loans between the owner and the company

Don Moragne and The Wealth Zone University offer the latest and most comprehensive knowledge of pass-thru entities and the latest tax offerings available to these entities. Mr. Moragne, further explains in his latest brief the benefits of financial record keeping.

A company will benefit from having a continual analysis of its financials in order to keep up to date on the “basis” requirements so tax planning in the fourth quarter will become much simpler. By not continually assessing business financials, a business owner could be missing many tax incentives. Let’s face it, those sought-after incentives can help offset those tax liabilities and then in turn can be reinvested into growth-building strategies. 

Mr. Moragne states, “To make planning easier in the fourth quarter, ideally, an analysis should be complete by the third quarter.” The IRS has made planning easier by issuing Form 7203 with this form being attached to the Pass-Thu Owners’ tax returns starting with the year 2022.

Now is the time to maximize those incentives, fourth quarter tax planning is required at both the entity and the owner level before December 31. Once the year has closed, the ability to use basis for tax planning purposes will have passed resulting in a loss of those tax incentives.

About Don Moragne:

Don is a functional CFO with expertise and extensive experience in managing financial and wealth strategies for various companies. He turned that knowledge into his own educational and consultancy program called The Wealth Zone University,

Media Contact
Company Name: Wealth Zone University
Contact Person: Don Moragne
Phone: 240-247-0089
Address:4061 Powder Mill Road Suite 700
City: Calverton
State: Maryland
Country: United States