• New rules for certain credits, deductions and qualified business income (QBI) deduction
• Filing requirements and personal exemptions
• Gross income inclusions, exclusions, and adjustments
• Sole proprietorships, hobby loss rules and passive activities
• Home offices, rental properties and vacation homes
• Pass-through entity basis calculations
• Pass-through entity distributions
• Capital improvements and repair
• Depreciation methods and IRS tables
• Intangible asset amortization
• Online tax research methodology and authoritative tax hierarchy
• The power of professional language in business writing
• Tax return support documentation

• Analyze and report the business income and expenses of a sole proprietorship or a single member LLC on Schedule C to the Form 1040.
• Interpret and report the rental activities on Schedule E to the Form 1040.
• Identify the specific rules that apply under the “passive activity” rules.
• Determine if a change of filing status will improve the filing position for taxpayers based on the list of itemized deductions.
• Determine when an S Corporation may be advantageous for a business, how to make a proper election, and the income/loss that passes through to the shareholder.
• Recognize active and passive income and determine material participation as it relates to an individual S corporation shareholder.
• Understand the impact of converting a C Corporation into an S Corporation.
• Distinguish between deductible repairs and capitalized improvements under new tax regulations.
• Calculate the initial tax basis and adjusted tax basis of business property.
• Determine the tax basis of self-constructed assets.

None