Update
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 quickly understand and implement tax reform changes and review IRS and Court actions affecting 2020 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. Specific course topics will be announced and updated through year-end.
Highlights include:
- Key provisions of new legislation passed to assist businesses during the coronavirus shut down.
- Avoidance of huge Obamacare Form 226-J penalties.
- Problems with Paycheck Protection Program Loan forgiveness.
- Review of 2020 clarifications to the QBI deduction including Forms 8995 and 8995-A.
- CARES retroactive changes to 163(j) interest deduction, Net Operating Losses, and §461(l) excess business losses.
- CARES Act payroll credits and deferrals.
- Discussion of the pros and cons of the opportunity zone fund investment.
- Details of the expanded Sick leave and family leave credits.
- Comparison of the §179 and the bonus depreciation deduction.
- Tax Cuts and Jobs Act changes.
- New business tax planning ideas after tax reform!
- Find answers to your client’s questions on 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 and 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’?
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify characteristics of new legislation passed to assist businesses during the coronavirus shut down.
- Identify various thresholds and limitations in effect for 2021 related to the application of tax rules for businesses.
- Cite the general rules and regulations for preparation of business returns.
- Identify changes and updates as a result of TCJA and the resulting guidance.
- Convey details of the Affordable Care Act (ACA).
- 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 21CScottsdale-LE20227043 |
Prerequisites None |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01801-21-I
IRS Federal Tax Update Credits: 6
CFP Provider Number: 3199
CFP Course Number: 292834
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01801-21-I
IRS Federal Tax Update Credits: 6
CFP Provider Number: 3199
CFP Course Number: 292834
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1591
CTEC Federal Tax Update Credits: 6
CTEC Course Number: 2071-CE-1591
CTEC Federal Tax Update Credits: 6
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Course Instructor
Mark Seid, EA, CPA has an active tax practice in Paso Robles, California specializing in small businesses and tax controversy. A National Tax Practice Institute graduate, Mark is admitted to practice before the U.S. Tax Court. He has served as an Internal Revenue Agent with the IRS in San Jose and San Luis Obispo, California, a state director for the California Society of Enrolled Agents, and the chair for the society’s Finance and Budget committee. He regularly presents courses to tax professionals on issues affecting small businesses.
2021 Business Tax Update
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Update
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 quickly understand and implement tax reform changes and review IRS and Court actions affecting 2020 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. Specific course topics will be announced and updated through year-end.
Highlights include:
- Key provisions of new legislation passed to assist businesses during the coronavirus shut down.
- Avoidance of huge Obamacare Form 226-J penalties.
- Problems with Paycheck Protection Program Loan forgiveness.
- Review of 2020 clarifications to the QBI deduction including Forms 8995 and 8995-A.
- CARES retroactive changes to 163(j) interest deduction, Net Operating Losses, and §461(l) excess business losses.
- CARES Act payroll credits and deferrals.
- Discussion of the pros and cons of the opportunity zone fund investment.
- Details of the expanded Sick leave and family leave credits.
- Comparison of the §179 and the bonus depreciation deduction.
- Tax Cuts and Jobs Act changes.
- New business tax planning ideas after tax reform!
- Find answers to your client’s questions on 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 and 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’?
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify characteristics of new legislation passed to assist businesses during the coronavirus shut down.
- Identify various thresholds and limitations in effect for 2021 related to the application of tax rules for businesses.
- Cite the general rules and regulations for preparation of business returns.
- Identify changes and updates as a result of TCJA and the resulting guidance.
- Convey details of the Affordable Care Act (ACA).
- 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 21CScottsdale-LE20227043 |
Prerequisites None |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01801-21-I
IRS Federal Tax Update Credits: 6
CFP Provider Number: 3199
CFP Course Number: 292834
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01801-21-I
IRS Federal Tax Update Credits: 6
CFP Provider Number: 3199
CFP Course Number: 292834
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1591
CTEC Federal Tax Update Credits: 6
CTEC Course Number: 2071-CE-1591
CTEC Federal Tax Update Credits: 6
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Course Instructor
Mark Seid, EA, CPA has an active tax practice in Paso Robles, California specializing in small businesses and tax controversy. A National Tax Practice Institute graduate, Mark is admitted to practice before the U.S. Tax Court. He has served as an Internal Revenue Agent with the IRS in San Jose and San Luis Obispo, California, a state director for the California Society of Enrolled Agents, and the chair for the society’s Finance and Budget committee. He regularly presents courses to tax professionals on issues affecting small businesses.