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 Recognize any new legislation signed into law by President Trump and IRS guidance affecting individual and business income tax returns Identify the Affordable Care Act (ACA) income tax provisions that were repealed and retained
Major Topics
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 the Phoenix Beach Quick Reference Chart. Topics include but are not limited to: Detailed coverage of any new income tax legislation signed by President Trump and ACA taxes, penalties and credits repealed and retained Overview of the new partnership regulations on allocating recourse/non-recourse debt, disguised sales and new centralized partnership audit regime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: o income, long-term capital gain tax and dividend tax rates o depreciation and 179 expense o retirement plan and IRA contributions, distributions and rollover rules o alternative minimum tax (AMT) Discuss other important IRS audit areas such as: o basis and at-risk limitations for S shareholders and partners o passive activity losses and real estate professionals o self-employment taxes
