Using a combination of humor and examples, We will focus on tax developments that affect 2020 income tax return preparation and 2020 income tax planning for businesses. As time permits, we will also review the major areas of income taxation of businesses to fine tune practitioners for “tax season.”
This course is designed to: 1) Provide explanations and planning ideas relating to the latest 2020 tax developments, including the most recent tax legislation impacting corporations and businesses, 2) Help practitioners prepare for “tax season,” and 3) Review areas that warrant tried-and-true traditional tax planning opportunities. The course includes a 600+ page reference Manual with each chapter containing basic rules, selected items of interest, 2020 developments, planning ideas, and listings of related IRS forms and publications.
Review of corporate and other business income taxation Including: Key developments to the Tax Cuts and Jobs Act and the Consolidated Appropriations Act (enacted December 20, 2019) involving various topics such as: new tax incentives encouraging small businesses to adopt retirement plans; Latest listings of expiring tax breaks; treatment of employees’ transportation fringe benefits; 20% Section 199A Deduction; Sections 179 and 168(k); Business Interest Deductions; Qualified Opportunity Funds final regulations; Simplified Accounting Method Safe Harbors for Qualified Small Businesses; and more!; Other Significant 2020 judicial and administrative corporate and business tax developments including: Latest information on partnership audits under CPAR; New regulations allowing health reimbursement accounts to reimburse employees’ health insurance premiums; Review of significant tax provisions and changes first effective in 2020.
Individuals who prepare income tax returns for businesses or who are involved in income tax planning for businesses.
At least one “tax season.”