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2-day Federal Tax Update: Individuals & Business

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Overview

$50 Early Registration Discount extended through Friday, Dec. 6

A block of rooms has been reserved for Dec. 11 and Dec. 12. Please call 502.426.2600 and use code K2X for the KyCPA room rate of $109++. This block expires Nov. 27, 2019.

 Many CPAs wish to attend a complete annual update that covers all the changes that affect individuals and business entities in the current year, as well as detailed analyses of how the new tax laws will affect your tax clients or your company. Kept up to date through the day before the class, this class will include the latest modifications to TCJA as well as other relevant IRS Notices, announcements, ruling and court cases for individuals, corporations, S corporations and entities taxed as partnerships. In-depth example coverage of 2019 actual return preparation issues will provide professionals with the answers they need. 

Jennings Advisory Group is known for its industry-leading manuals, which have won the CPA Practice Advisor Reader’s Choice Award for 3 straight years, expert and energetic speakers, and award-winning research and compliance checklists and guides. Presented by an active tax practitioner, this course will include detailed coverage, with planning ideas, of the Tax Cuts and Jobs Act as well as other relevant IRS Notices, announcements, ruling and court cases. Get everything you will need in this intensive 2-day program.

Your fee includes both printed and electronic manuals.

Objectives

Federal Tax Update-Corporations & Partnerships: Upon completion of this course, you will be able to-Explain the latest changes in tax law to your business clients; Inform clients of the various characteristics and tax implications of the C corporation form of business entity; Determine if a corporation qualifies to file the election for S status; Explain S corporation equity accounts to clients; Explain the differences in entity types to clients; Provide clients with the characteristics, advantages, and disadvantages of LLCs; Advise client on converting to an LLC from other business entity types; Advise clients about methods of accounting and partnership/LLC tax returns; and much more.

Federal Tax Update Individuals: This course includes information on changes affecting individual taxpayers, including estate and gift tax changes. Specifically, this course includes: • Expiring Federal Tax Provisions • Disaster Losses • IRAs • Retirement Distributions & Penalties • Passive Activities, Grouping & Aggregation • Security-Systems & Offices • Form 1040 • Much more

Highlights

Individual Update:

  • Opportunity Zones-in depth and detailed;
  • 1040-a flash review of rate and bracket changes;
    • The new due diligence rules on head of household and dependents;
  • SALT deduction-the new Regulations illustrated and explained with examples;
  • Mortgage interest under the new law-like you’ve never seen it!
  • 2019 itemized deduction inflation amounts;
  • The new IRS Chief Counsel Memorandum on PEO’s and wages;
  • Business or hobby-what is the real analyses of trade or business activities?
  • The latest court case guidance on the sale of a residence;
  • The continuation of IRS wins against “real estate professionals” with analyses;
    • The RE Professional grouping election
  • The brand new 2019 K-1’s with changes-this will upset the apple cFBAR and foreign reporting-the latest cases and clear guidance on how, when and what to report;
  • Health Savings Accounts in depth. With 41% of American employees now covered by these accounts we need to really understand the rules;
  • IRA and pension plan updates including rollover and planning tips;
  • Taxpayer First Act and the changes to reporting, penalties and most importantly, client and firm file security with guidelines;
  • Virtual currency and internet businesses-an in-depth income tax discussion.

Business Update:

  • Detailed analyses, with examples using the newly released Form 3115 of accounting methods and changes including completed forms for accrual to cash changes and discontinuing the use of Section 263A;
    • The new Regulations from September 2019 mandating revenue agreement between financial statements and tax returns;
  • The new Business Interest deduction limit-with example Form 8990;
    • The business loss limit rule review;
  • The new Clergy housing allowance case and Supreme Court announcement;
  • 2019 depreciation changes;
  • The latest LLC guidance including IRS attacks on layered LLC’s, PEO’s and wages inside LLC’s, 
  • Payroll court cases;
  • Estate and gift changes;
  • QBI-the 199A deduction with the latest changes guidance, new Forms 8995 and 8995A, review of required disclosures and in-depth discussion of the trade or business income discussion and specified services from America’s QBI experts;
    • When and how to make the grouping election;
    • Rental property answers;
  • Fringe benefit coverage including the new Excepted Benefit and individual coverage HRAs and the small employer option guide for health care;
  • S corporation changes for PTTP and court case analyses of new basis rules;
    • Special coverage of reasonable compensation decision-making
  • Discussion of the state sales tax issues-one year later.

Register Now

Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

Event Code:

FTU1212

16 CPE Credits
Tax: 16 Credits

Registration

Member Price:
$579
Non-member Price:
$779
    Register by December 6th for Early Bird Pricing.

    Registration is open through 12/11.

    Thursday, December 12th

    8:00am to 4:00pm
    (Check-In 7:30am)

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    Holiday Inn Hurstbourne

    1325 S. Hurstbourne Pkwy
    Louisville, KY 40222

    Map and Directions

    Instructor

    Ron Roberson