The coming year promises plenty of challenges and opportunities for individual and business tax clients. Single party control of the presidency and both chambers of congress paves the way for the most unimpeded path to a major tax bill in many years. The Affordable Care Act (ACA) tax compliance provisions continue to confound employers, with new requirements hitting their effective dates this year -- while at the same time the potential for significant revisions or even repeal looms. The Protecting Americans Against Tax Hikes (PATH) Act made some of the former so called 'tax extenders' permanent, further extended others, and changed the substance of several. Major changes to Social Security file-and-suspend and restricted application rules have forced a total rethinking of many individual long-term planning strategies. These are just a few of the changes that will affect your clients this coming season, and they will look to you to understand the issues and develop a plan that serves their best interests. In this course, tax advisors will be fully updated on the most important legislative and regulatory developments of the season as well as major trends and changes in the case law. Included is full coverage of all tax implications with a view toward planning.
- Update on proposed and potential tax law changes from the new presidential administration and Congress
- Update on major enacted tax law changes, including status of DOL overtime rule changes, the new partnership audit rules, the PATH Act, Social Security and more
- Advanced practitioner issues
- Health care reform: where are we and where may we be going?
- Review of pertinent cases and rulings regarding exclusions, character issues, retirement plans, travel and other items affecting your individual taxpayers
- Practice aids, including all the numbers applicable for 2016 and released to-date for 2017; inflation-adjusted amounts, mileage rates, retirement contributions, and more
- Recent developments with business entities, including C corporations, S corporations, partnerships, and limited liability companies; proposed changes to family limited partnership valuations
- The latest on depreciation and safe harbor expensing options, including the $2,500 de minimis expense item
- The latest issues related to passive activities, substantiation and any other late-breaking tax law changes
- Understand the latest pending and enacted tax law changes
- Understand strategies and techniques for individuals to use in light of tax changes
- Understand current cases and rulings affecting individuals and businesses