Tax Update Self-Study Webinar (10 Hours)

Overview: 

Tax laws are constantly changing. Tax and financial professionals need to stay current to understand the impact of these changes and to minimize taxes. This practical self-study webinar provides a comprehensive update and an instant working knowledge of all key tax provisions. You’ll benefit from:

  • A detailed explanation of recent income tax legislation, including the Tax Cuts and Jobs Act of 2017
  • A review of recent revenue rulings, regulations and court cases
  • An update of pending tax legislation and other developments
  • In-depth examination of practical examples and insights from other practitioners
Objective: 

To provide CPAs with technical analysis and practical planning ideas based on the latest developments in tax legislation, litigation, regulations and rulings. The discussion format of the video recording used in this self-study webinar encourages exchange of experiences among practicing professionals.

Emphasis: 
  • Detailed analysis of the Tax Cuts and Jobs Act of 2017 and its impact on:
    – Individuals
    – Corporations
    – Businesses and pass-through entities
    – Estate taxes and estate planning
  • Discussion of new tax regulations and proposals and their impacts
  • New information from the IRS
  • Recent court cases, rulings and regulations affecting individuals and businesses
  • New income tax rates and brackets
  • New measure of inflation provided
  • Capital gains provisions
  • Carried interests—new holding period requirement
  • New limitations on excess business loss
  • Deduction for personal casualty and theft losses suspended
  • State and Local Tax (SALT) deduction limited
  • Mortgage interest deduction limited
  • Alimony deduction by payor/inclusion by payee suspended
  • New deduction for pass-through income, Section 199A, and how it applies to sole proprietorships, general and limited partnerships, trusts, estates, LLCs, C Corps and S Corps
  • Repeal of ACA Individual Mandate
  • Expiring tax extenders
  • Discussion of changes to the Foreign Tax Credit
  • Changes in compensation limitations
  • New laws regarding retirement plans
  • Changes in basic exclusion amount in estate and gift taxes
  • Changes in procedure and administration

Identify the Tax Cuts and Jobs Act effect on individual taxpayer’s tax brackets, personal exemptions and the standard deduction

• Recognize the change in the Pease limitation

Identify the changes to individuals’ itemized deductions

Recognize the new child tax credit limitation

Identify the primary change to the “kiddie tax” rules

Recognize the overall approach taken by Congress to give income tax relief to pass-through income recipients

Identify the basic formula for tax relief under Section 199A

Identify the effective tax rate applicable to income qualifying for the Section 199A deduction

Recognize the definition of a “qualified trade or business” under Section 199A

Recognize those types of professional service businesses falling outside the limitations of non-qualifying businesses

Identify the scenarios under which limitations to the Section 199A deduction will apply

Identify the separate limitation formulas associated with qualified and nonqualified business income

Recognize basic tax planning considerations involving the Section 199A QBI deduction

Identify the new corporate tax rate structure under the TCJA

Identify the new parameters for the corporate dividends received deduction

Recognize the limitation on the deduction of net business interest expense

Recognize the changes to the carryback and carryforward regime for corporate NOLs

Recognize the status of the domestic production activities deduction after the TCJA

Recognize the changed treatment of research and experimentation expenses

Identify the changed treatment of local lobbying expenses

Identify the new credit available to employers who pay wages to employees on family and medical leave

Identify the new threshold for the use of the cash method of accounting

Identify the expanded Section 179 expensing limits

Identify the expanded bonus depreciation limits

Identify the effect of the Act on an individual’s estate and gift lifetime exemption amount

Recognize additional due diligence requirements applicable to tax preparers under the TCJA

Bottom
Price: 
$399.00
Prerequisite: 

Working knowledge of federal income taxes.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
10.00
NASBA Field of Study: 
Taxes