CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Everybody's Critical Business Tax Issues in 2021

Icon_Level
Update
Credits
CPE Credits
6 Credits: Taxes

Course Description

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 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.

Highlights include:

    • American Rescue Plan Extends Some Provisions
    • Consolidated Appropriations Act Makes Changes to PPP Loan Forgiveness
    • Consolidated Appropriations Act Provides the Second Round of PPP Loans
    • Simplified PPP Loan Forgiveness Application Released for PPP Loans of $150,000 or Less
    • Excess Business Loss Limit Reinstated and Extended
    • NOL Carrybacks Eased
    • Qualified Improvement Property “Glitch” Fixed
    • Cannabis Sales Taxed
    • Business Interest Deductions Limited
    • Business (Restaurant) Meals 100% Deductible
    • Depreciation Changes and Luxury Auto Depreciation Updated
    • QBI Deduction Stays the Same
    • Avoid Obamacare Form 226-J Penalties

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Convey details of the American Rescue Plan and Consolidated Appropriations Act.
  • Identify changes to the PPP Loan Forgiveness and Second Round of PPP Loans.
  • Recognize opportunities to use business credits.
  • Summarize the different types of business retirement plans, assessing contribution limits, elective deferral limitations, and prohibited transactions.
  • 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.
  • Prepare federal tax returns for C corporations.
  • Prepare federal tax returns for S corporations.
  • Understand federal changes and new rulings.
  • Provide tax services for clients based on IRS practice and procedure provisions.
  • Describe new developments in IRS policies and procedures.
  • Identify the requirements of filing an offer in compromise (OIC).

Course Specifics

Course ID
21CBarHarbor-LE20226901
Original Release Date
June 30, 2021
Prerequisites

Experience preparing business tax returns.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01794-21-I
IRS Federal Tax Update Credits: 6
CFP Provider Number: 3199
CFP Course Number: 292826
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1584
CTEC Federal Tax Update Credits: 6

Course Instructor

Karen Brosi Headshot
Karen Brosi, CFP, EA

Karen Brosi, CFP, EA, has an extensive California tax practice, advising clients in individual tax and family wealth planning, specializing in complex individual income tax matters and all types of securities transactions. Her background as a CFP and as a tax preparer for the wealthy makes her particularly effective in the tax and financial planning arenas. Karen teaches tax professionals how to avoid tax minefields with her extensive planning checklists and practical tips. Besides being one of the most prominent California tax update instructors, she’s a favorite interviewee on radio, television, and in print media, such as Bloomberg Businessweek. Karen’s powerful real-life …

Karen Brosi, CFP, EA Read More »

Everybody's Critical Business Tax Issues in 2021

Expert Instructors
CPE CREDITS
6 Credits: Taxes

$590.00

Availability: 20 in stock

Icon_Level
Update
Credits
CPE Credits
6 Credits: Taxes

Course Description

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 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.

Highlights include:

    • American Rescue Plan Extends Some Provisions
    • Consolidated Appropriations Act Makes Changes to PPP Loan Forgiveness
    • Consolidated Appropriations Act Provides the Second Round of PPP Loans
    • Simplified PPP Loan Forgiveness Application Released for PPP Loans of $150,000 or Less
    • Excess Business Loss Limit Reinstated and Extended
    • NOL Carrybacks Eased
    • Qualified Improvement Property “Glitch” Fixed
    • Cannabis Sales Taxed
    • Business Interest Deductions Limited
    • Business (Restaurant) Meals 100% Deductible
    • Depreciation Changes and Luxury Auto Depreciation Updated
    • QBI Deduction Stays the Same
    • Avoid Obamacare Form 226-J Penalties

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Convey details of the American Rescue Plan and Consolidated Appropriations Act.
  • Identify changes to the PPP Loan Forgiveness and Second Round of PPP Loans.
  • Recognize opportunities to use business credits.
  • Summarize the different types of business retirement plans, assessing contribution limits, elective deferral limitations, and prohibited transactions.
  • 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.
  • Prepare federal tax returns for C corporations.
  • Prepare federal tax returns for S corporations.
  • Understand federal changes and new rulings.
  • Provide tax services for clients based on IRS practice and procedure provisions.
  • Describe new developments in IRS policies and procedures.
  • Identify the requirements of filing an offer in compromise (OIC).

Course Specifics

Course ID
21CBarHarbor-LE20226901
Original Release Date
June 30, 2021
Prerequisites

Experience preparing business tax returns.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01794-21-I
IRS Federal Tax Update Credits: 6
CFP Provider Number: 3199
CFP Course Number: 292826
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1584
CTEC Federal Tax Update Credits: 6

Course Instructor

Karen Brosi Headshot
Karen Brosi, CFP, EA

Karen Brosi, CFP, EA, has an extensive California tax practice, advising clients in individual tax and family wealth planning, specializing in complex individual income tax matters and all types of securities transactions. Her background as a CFP and as a tax preparer for the wealthy makes her particularly effective in the tax and financial planning arenas. Karen teaches tax professionals how to avoid tax minefields with her extensive planning checklists and practical tips. Besides being one of the most prominent California tax update instructors, she’s a favorite interviewee on radio, television, and in print media, such as Bloomberg Businessweek. Karen’s powerful real-life …

Karen Brosi, CFP, EA Read More »

Everybody's Critical Business Tax Issues in 2021

Expert Instructors
CPE CREDITS
6 Credits: Taxes

$590.00

Availability: 20 in stock