Overview
This course is essential for the tax practitioner who wants to update their knowledge of business income taxation so that the practitioner can provide solid planning advice to their clients prior to year-end. This course will provide a comprehensive review of business issues for the current tax year. Included will be a thorough review of all Internal Revenue Code changes made by year-to-date. In addition, this course will instruct the participant as to where to expect potential changes to be made by the current administration.
Prerequisites
None
Objectives
- To discuss major changes to the Internal Revenue Code created by legislation
- To list ideas as to how to create and/or update their client’s business so that they are prepared for the upcoming tax season.
Highlights
- Major changes to legislation
- Start-up and organizational expenses
- Employing a family member
- Health insurance issues
- Business use of home
- Profit motive
- Marijuana issues
- Depreciation issues
- Cryptocurrency
- Employee vs. Independent Contractor issues
- Meals and entertainment
- Vehicle issues
- Real estate issues
- Section 199A issues
- Compensation issues
- Retirement plan issues
- Penalties
