PB FTCD

Training for Business Professionals

Who Should Attend?
Tax accountants in public or private practice in need of a power-packed one-day Federal individual and business income tax update course.

Area of Study:
Taxation

Level:
Update

Credit:
8 hours

Prerequisite:
None

Advance Preparation:
None

Type:
Group Live

With the increasing complexity and ever-changing nature of tax laws and issues, today’s accountant needs a one-day fast-paced update course focusing on the hottest Federal income tax topics affecting individuals, businesses and their owners.

Learning Objectives:
Once participants have completed this session they should be able to:

• Understand the major Federal income tax laws impacting individuals, C and S corporations, partnerships, LLCs and LLPs

• Identify and comprehend any newly enacted legislation, changes and IRS guidance affecting individual and business income tax returns

Course Highlights:
This fast-paced session is a comprehensive review of newly enacted tax legislation, issuance of income tax regulations, court cases, IRS notices, revenue procedures and private letter rulings affecting individuals and businesses. Each participant will receive a comprehensive manual with the hottest tax topics including Pat Garverick’s Quick Reference Chart. Topics include but are not limited to:

• Detailed coverage of the individual and business income tax provisions of the Tax Cuts & Jobs Act (TCJA) including but not limited to the 20% qualified business income (QBI) deduction; changes to the individual income tax rates, kiddie tax computation, AMT, personal exemptions, itemized deductions, child tax credit and income exclusions; lower corporate income tax rates and AMT repeal, changes to NOLs, business loss limitations, interest deduction, accounting method changes, fringe benefits and entertainment expenses

• Overview of the new partnership regulations on allocating recourse/non-recourse debt, disguised sales and new centralized partnership audit regime

• Review any other income tax changes with respect to:
* income, long-term capital gain tax and dividend tax rates
* depreciation and §179 expense
* retirement plan and IRA contributions, distributions and rollover rules
* alternative minimum tax (AMT)

• Discuss other important IRS audit areas such as:
* basis and at-risk limitations for S shareholders and partners

* passive activity losses and real estate professionals
* self-employment taxes

Federal Tax Update – Individual & Business Current Developments