Don Farmer Federal Tax Update

Description

In this course, we review current year developments and planning ideas affecting individual, corporate and business income taxation using a combination of humor and examples. We will emphasize all major new tax legislation as well as other significant tax developments that affect 2021 tax return preparation and 2022 tax planning for individuals, corporations, and non-corporate businesses.

The course format is designed to update CPAs with various levels of
experience.

Learning Objectives

To review major developments in federal income taxation for
individuals, corporations, and other businesses having the greatest impact on participants, their clients, and their companies. The course will emphasize developments affecting 2021 returns and tax planning, including provisions contained in the American Rescue Plan Act of 2021, the Consolidated Appropriations Act of 2021, any other 2021
legislation, and important regulations, rulings, and court cases. The seminar is designed to update participants concerning 2021 tax developments emphasizing practical solutions to problems and tax planning opportunities.

Major Topics

The seminar includes: 1) A review of the latest new law provisions effective for 2021, such as the: expanded employee retention credit (including maximizing the credit and PPP loan forgiveness), extended
Sick Leave and Family Leave credits, extension of excess business loss limitations through 2026, up to $10,200 exclusion for unemployment benefits, stimulus payments and rebate credit, increased child tax credit and dependent care credit, tax-free forgiveness of student loans, 100% deduction for certain business food and beverage expenses, increased charitable contribution limitations,
new revised rules for obtaining PPP loan forgiveness, and more; 2) A review of any other significant 2021 tax legislation; 3) Final regulations explaining the treatment of inventories and use of the cash method for
taxpayers with average gross receipts of $26 million or less; 4) Regulations extending life expectancies for determining RMDs from IRAs and qualified retirement plans; 5) Other new tax cases, rulings, and regulations expected to have the most significant impact on individuals and businesses. The presentation will emphasize tax
planning opportunities resulting from these recent developments.
The course material also includes:
A checklist of expiring tax provisions, and
Practical planning ideas for businesses and individuals.

Provider
Don Farmer, CPA PA
Course Level
Update
CPE Field of Study
Tax
8
Who Should Attend

Individuals having one or more Tax Seasons and a general
understanding of individual, corporate and business income taxation who are involved in the preparation and/or review of individual, corporate and business income tax returns or who provide tax planning advice to individuals and businesses.

Instructor(s)
Don Farmer
Prerequisites

None

Advanced Preparation

None

Location
TBD
Event Information
When
Jan 19, 2022
8:30 am - 4:30 pm MST
Location
TBD
Total CPE Credits
8
Format
In-Person + Webcast Live

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$425.00

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$607.00
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Don Farmer Federal Tax Update


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