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 grasp recent tax changes. You'll receive the most complete and up-to-date reference manual, written by renowned tax experts, Sharon Kreider and Karen Brosi. The 500-page 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.
Upon successful completion of this course, participants will be able to:
• Discuss business tax developments for 2021 returns.
• Enumerate planning ideas in implementing changing business tax laws.
• Accurately prepare returns for business taxpayers.
• Understand and apply the various rules and regulations on the QBI deduction.
• Identify tax issues and apply regulations related to real estate as a qualified business for the QBI deduction.
• Convey details of the Affordable Care Act (ACA) "employer mandate."
• Identify opportunities for employer payroll credits.
• Learn IRS audit issues for pass-through entities including basis and reasonable compensation
• Review tax issues explained and clarified in recent tax court cases and IRS rulings
• Apply the many other business tax changes applicable for 2021 business returns
• News on IRS audit targets for S corporations and LLCs
• Details on the SALT workaround for pass-through entity owners
• Reminders on the streamlined audit provisions for partnerships and LLCs
• Discussion of a new S corporation reasonable comp case
• Updates on ACA and its "employer mandate"
• Plus, a review throughout the day of issues explained and clarified in recent tax court cases and IRS rulings
Experience preparing business tax returns including Forms 1120, 1120-S and 1065.
Experience preparing business tax returns including Forms 1120, 1120-S and 1065.
CPAs in industry and public accounting who need a thorough grasp of the changing tax laws and how they affect our clients going forward.