This course is designed to:
The course includes a Comprehensive Reference Manual with each chapter containing basic rules, selected items of interest, 2022 developments, planning ideas, and listings of related forms and publications.
Review of Corporate and Other Business Income Taxation Including:
· Segments Covering: Election to Pay State Income Taxes at the Entity Level by S Corps and Partnerships; Constructive Dividend Issues; the 20% QBI Deduction; Purchase and Sale of Businesses; §1031 Exchanges; Travel, Meal, and Entertainment Deductions; Fringe Benefits; §179 and 168(k) Depreciation Deductions; Interest Expense Limitation; Partnership and S Corp Developments Including Developments Relating to Filing Forms K-2 and K-3; Accounting methods; and Payroll Tax Issues.
· Significant 2022 Developments Including Any New 2022 Legislation; New Regulations Including Final Regulations Effective for Tax Years Beginning on and After January 5, 2021, Explaining the Proper Treatment of Inventories and Use of the Cash Method for Taxpayers with Average Gross Receipts Of $26 Million Or Less; New 2022 Rev Proc Providing Rules for Automatic Accounting Method Changes; IRS Ruling Explaining When Rental Income is Subject To S/E tax; and Many Others.
· Review of Significant Tax Provisions and Changes First Effective in 202
At least one year of experience in a “tax season"
Individuals who prepare income tax returns for businesses or who engage in income tax planning for businesses.