Update
CPE Credits
8 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:
2021 Federal Tax Update – Business Returns, will Identify the timing and impact of key provisions new legislation including:
- American Rescue Plan extends some provisions
- Consolidated Appropriations Act 2021 makes changes to PPP Loan forgiveness, permits ERC for PPP applicants.
- Consolidated Appropriations Act 2021 includes PPP2 loan draw
- Consolidated Appropriations Act 2021 eases forgiveness applications for small loans and SBA opens loan portal
- Excess business loss extended through 2026
- NOLs carryforward in 2021
- Qualified improvement property “glitch” fixed
- Cannabis sales taxed
- Limitation on business interest deduction is 30% of
- EBITDA
- Business restaurant meals 100% deductible
- Depreciation changes and luxury auto depreciation updated
- QBI Deduction stays the same
- Avoiding Obamacare form 226-j penalties
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify characteristics of new legislation passed to assist businesses.
- Understand excess business loss limit extended through 2026
- Recognize Targeted EIDL advances and Restaurant Revitalization Grants are nontaxable, and expenses are deductible
- Utilize Form 1099-K issued at $600 or more by third party settlement organizations
- 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 expiring provision and changes.
- Convey details and identify new legislation of the CARES, ARPA, ACA, BBA, and CAA2021.
- 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 21FJacksonville-02-LE21 |
Prerequisites Basic knowledge of Taxation |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01918-21-I
IRS Federal Tax Update Credits: 8
CFP Provider Number: 3199
CFP Course Number: 297633
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01918-21-I
IRS Federal Tax Update Credits: 8
CFP Provider Number: 3199
CFP Course Number: 297633
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1674
CTEC Federal Tax Update Credits: 8
CTEC Course Number: 2071-CE-1674
CTEC Federal Tax Update Credits: 8
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 Federal Tax Update: Business
$399.00
Availability: 73 in stock
Update
CPE Credits
8 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:
2021 Federal Tax Update – Business Returns, will Identify the timing and impact of key provisions new legislation including:
- American Rescue Plan extends some provisions
- Consolidated Appropriations Act 2021 makes changes to PPP Loan forgiveness, permits ERC for PPP applicants.
- Consolidated Appropriations Act 2021 includes PPP2 loan draw
- Consolidated Appropriations Act 2021 eases forgiveness applications for small loans and SBA opens loan portal
- Excess business loss extended through 2026
- NOLs carryforward in 2021
- Qualified improvement property “glitch” fixed
- Cannabis sales taxed
- Limitation on business interest deduction is 30% of
- EBITDA
- Business restaurant meals 100% deductible
- Depreciation changes and luxury auto depreciation updated
- QBI Deduction stays the same
- Avoiding Obamacare form 226-j penalties
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify characteristics of new legislation passed to assist businesses.
- Understand excess business loss limit extended through 2026
- Recognize Targeted EIDL advances and Restaurant Revitalization Grants are nontaxable, and expenses are deductible
- Utilize Form 1099-K issued at $600 or more by third party settlement organizations
- 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 expiring provision and changes.
- Convey details and identify new legislation of the CARES, ARPA, ACA, BBA, and CAA2021.
- 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 21FJacksonville-02-LE21 |
Prerequisites Basic knowledge of Taxation |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01918-21-I
IRS Federal Tax Update Credits: 8
CFP Provider Number: 3199
CFP Course Number: 297633
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01918-21-I
IRS Federal Tax Update Credits: 8
CFP Provider Number: 3199
CFP Course Number: 297633
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1674
CTEC Federal Tax Update Credits: 8
CTEC Course Number: 2071-CE-1674
CTEC Federal Tax Update Credits: 8
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 Federal Tax Update: Business
$399.00
Availability: 73 in stock