Overview:
Federal tax laws can be treacherous, even for the seasoned tax practitioner, with a minefield of hidden complexities and ever-changing tax rules and forms. This program is for experienced professionals who want to delve deeper into certain key areas of taxation and master their intricacies. You will:
- Get updates on newest planning techniques for business entities and individuals
- Advise your clients on the latest tax changes and opportunities included in the Tax Cuts and Jobs Act
- Gain a greater understanding of current taxation trends and the directions they may be heading in the future
Objective:
To update experienced tax professionals on specific critical areas of the federal tax code, and show them how to effectively handle these important issues and complete the required tax forms.
Emphasis:
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Recent Changes & Legislation
– Standard deduction and exemptions
– State and local deductions
– Charitable contributions
– Casualty and theft losses
– Itemized deductions
– Capital gains and qualified dividend tax rates
– Adjustments/income exclusions
– Affordable Care Act and the premium tax credit
– 529 college savings plans -
Section 199A Deduction Under the TCJA
– Deduction computation
– Planning considerations
– Pass-through entities -
Changes to Business Tax Provisions
– Corporate tax rates
– Fringe benefits
– Business interest
– Net operating losses
– Research and expenditures
– Depreciable assets changes
– Penalties and fines - Tax Relief for Employers Impacted by COVID-19
- The SECURE 2.0 Act
- Estate & Gift Tax Provisions
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US Taxation of Foreign Income
– Earning and profits transition tax
– Participation exemption system
– Prevention of base erosion - Tax Implications of Divorce & Separation