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 grasp recent tax changes. 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 tax topics easily understandable. Specific course topics will be announced and updated through year-end.
- Updates on the latest business tax reform developments
- Planning ideas regarding business tax reform
- ACA and 'Repeal and Replace' developments in large and small businesses
- Corporate and pass-through entity updates
- Cures Act implementation
- Legal marijuana taxation
- Identity scams hitting employers
- IRS budget cut and its effects
- Top 10 most litigated tax issues
- Employee misclassification issues
- S corporation basis tracking
- Corporate reasonable compensation
- Taxes for the 'sharing economy'
Upon successful completion of this course, participants will be able to:
- Discuss business tax reform developments.
- 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.
- Summarize the different types of business retirement plans, assessing contribution limits, elective deferral limitations, and prohibited transactions.
- Compare and contrast 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.
- Review C corporation cases and rulings.
- Review S corporation cases and rulings.
- Understand federal changes and new rulings for individual 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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