Combining the real-life experience of a practicing CPA with essential down-to-earth tax materials in a high-tech format, this powerful presentation will enable participants to quickly understand and implement tax reform changes and review IRS and Court actions affecting 2018 business tax returns. You'll receive the most complete and up-to-date reference manual, written by renowned tax experts, Vern Hoven and Sharon Kreider. The digital PDF manual is hyperlinked to the Internal Revenue Code, tax court decisions, and other primary authorities, making it extremely convenient. Join us as our world-class tax instructors share cutting-edge tax planning strategies in a high energy, often humorous, presentation style using real-life experiences, which make complicated business tax topics easily understandable.
- What are the 50 most important business Tax Cuts and Jobs Act 2018 changes?
- Learn over 50 new business tax planning ideas after tax reform!
- Find answers to your client’s questions on the new 20% Qualified Business Income deduction.
- Do you know who benefits, and who doesn’t benefit, from the 20% QBI deduction?
- Understand how the three QBI deduction limitations work!
- What is the best entity for your client to choose after the 20% QBI deduction?
- Is the sole proprietorship the right choice for some clients?
- Is an LLC better than an S corporation?
- When is the S corporation the right choice when the QBI deduction is considered?
- Will converting to a closely-held C corporation reduce taxes? Most likely not!
- How does the §179 expensing deduction and 100% bonus depreciation change business purchases! Which is better?
- When does a new roof qualify for expensing?
- Our clients must separate entertainment expenses from business meals now! Why?
- How did luxury car depreciation limits change. Great news for many!
- How has the NOL deduction been limited?
- Can business losses be too big to use? Tragically, yes!
- Does the new family leave credit benefit individuals? Businesses? Yes, to both.
- Did accounting methods change for my clients?
- Learn the latest ACA “Repeal and Replace” developments and how these proposals impact large and small businesses.
- Know the impact of marijuana taxation as states legalize its sale.
- Identity scams hitting employers.
- How will the IRS budget allocations to new law implementation affect your clients and you?
- What are the top 10 most litigated tax issues? Is your client a target?
- Know the impact of employee misclassification.
- What is corporate reasonable compensation and what is new?
- What are the tax issues for the “sharing economy”?
This course is CFP board accepted.
Upon successful completion of this course, participants will be able to:
- Discuss business tax reform developments.
- Be able to inform your clients on the impact of tax reform.
- Enumerate planning ideas for business tax reform.
- Accurately prepare returns for business taxpayers.
- Convey details of the Affordable Care Act (ACA) and current developments in “Repeal and Replace.”
- Recognize opportunities to use business credits.
- Compare qualified Roth contribution plans, SEPs, SIMPLE IRAs, and 401(k) plans, identifying the rules on loans to participants and hardship distribution rules to ensure compliance with tax regulations.
- Discuss income subject to self-employment tax and withholding from wages and assess the impact of various withholding and wages issues.
- Determine the difference between an independent contractor and an employee and examine subsequent reporting requirements.
- Discuss C corporation cases and rulings.
- Discuss S corporation cases and rulings.
- Discuss partnership and LLC cases and rulings
- Understand federal changes and new rulings for business tax returns.
- Provide tax services for clients based on IRS practice and procedure provisions.
- Describe new developments in IRS policies and procedures.
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