Overview
In this course, tax advisors will be fully updated on the most important aspects of recent legislation, including the SECURE Act, CARES Act, and TCJA, as well as major trends on the horizon with a view toward planning considerations. As both formal and informal guidance is issued, you will be kept fully up-to-date.
Major Topics:
- The SECURE Act, including RMD changes, the elimination of the stretch IRA, modification of the kiddie tax rules, and expansion of §529 plans and 401(k) retirement plans for part-time workers
- The CARES Act and FFCRA, including employer tax credits, SBA loans, and EFMLEA and EPSLA expanded leave programs
- The CARES Act changes to §163(j), §461(I), and NOL rules
- The Consolidated Appropriations Act of 2021, including the COVID-related Tax Relief Act of 2020 (COVIDTRA) provisions related to PPP loans, ERTC, FFCRA credits, and year-end tax extenders
- Bonus depreciation rules and expansion of §179
- Expansion of number of taxpayers able to use the cash method of accounting
- Is the "Employee vs Independent Contractor" conundrum about to explode?
- Comprehensive coverage of §199A and its alteration of pass-through taxation and planning
- Crypto currency
- Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more
- Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas
- The latest issues related to any other late-breaking tax law changes
Learning Objectives
- Understand the latest enacted tax law changes
- Understand strategies and techniques to use in light of tax changes
- Understand current cases and rulings affecting individuals and businesses
Designed for:
CPAs who need to know the latest tax law changes in all areas of practice
Prerequisite:
Experience with individual and business clients
Advanced Preparation:
None