The Tax Cuts and Jobs Act of 2017 made major changes to the Federal tax laws impacting businesses. Are you ready for the filing season? This course provides participants with critical Federal tax law updates resulting from current laws, regulations and court cases impacting all business entity types including S corporations, Partnerships, C Corporations and Sole Proprietorship. Critical topics to be covered include the tax rate changes, the new qualified business income deduction, the new limits on deductibility of business interest, NOL modifications, the "Excess Business Loss" restrictions and much more.
Understand the major federal income tax laws impacting C & S corporations, partnerships, LLCs, LLPs and their owners.
Recognize any new legislation passed by President Trump and IRS guidance affecting business income tax returns.
Identify the Affordable Care Act (ACA) income tax provisions that were repealed and retained.
Detailed coverage of any new business income tax legislation signed by President Trump and ACA taxes, penalties and credits repealed and retained.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.
Look at any changes to the Forms 1120, 1120S and 1065 and other related schedules and forms.
Recent changes to depreciation and §179 expense.
Issues related to compensation, distributions, liquidations, self-employment taxes and retirement plans.
Designed For: Tax and accounting professionals.
Instructor: Troy Lewis, CPA, MACC, CGMA
CPE Credits: 8
Area of Study: Taxes
Prerequisite: General knowledge in C-corporation, partnership and individual income taxation.