Don Farmer's Corporate Income Tax Workshop

This course is designed to:

1. Provide explanations and planning ideas relating to the latest 2025 corporate and business tax developments, including the most recent guidance on new tax law provisions.

2. Help CPAs and tax practitioners prepare for the 2026 tax season, incorporating key changes in legislation and IRS guidance.

3. Review traditional and emerging tax planning strategies to optimize tax benefits for corporations and pass-through entities.

4. Explore IRS compliance trends, audit risks and enforcement priorities impacting businesses in 2025.

A review of corporate and other business income taxation, focusing on 2025 tax law updates and planning opportunities:

• Key business tax credits and deductions: Updates on the QBI deduction, §179 and 168(k) depreciation deductions, business meal and entertainment deductions, and fringe benefit updates.
• Corporate tax rate changes and legislative updates: Analysis of any 2025 tax legislation, including modifications to corporate tax rates and incentives.
• Partnerships and S corporations: New IRS guidance on pass-through entity (PTE) taxation, PTE elections for state tax payments, and K-2/K-3 filing requirements.
• IRS enforcement trends and compliance risks: Audit red flags, IRS initiatives targeting employee retention credit (ERC) claims, and beneficial ownership reporting under the Corporate Transparency Act.
• Green energy and sustainability tax incentives: Updates on Inflation Reduction Act (IRA) provisions, commercial EV credits and clean energy tax benefits.
• Business interest expense limitation and financing strategies: Changes under §163(j) and planning opportunities for businesses.
• Tax implications of the gig economy and digital businesses: Reporting requirements for 1099-K, digital assets taxation and e-commerce businesses.
• State and local tax (SALT) considerations: Updates on state-level business taxation, economic nexus rules and multi-state tax planning strategies.
• Proactive tax planning for businesses: Strategies to minimize tax liabilities, leverage deductions and optimize entity structures.

The course will focus on practical tax planning solutions, legislative updates and compliance strategies most relevant to CPAs and business tax professionals.