Both businesses and individual clients face major changes as a result of tax reform, and tax professionals face the considerable challenge of delivering effective planning advice and services to address this myriad of recent developments. This course addresses this challenge and also encompasses the latest tax legislation applicable to individual and business clients. Continually updated to reflect enacted legislation.
Learning Objectives
- Understand strategies and tactics to use in light of new legislation
- Understand how to nail down valuable deductions and other reductions to the tax base
Major Topics
- Timely coverage of breaking tax legislation
- Comprehensive coverage of individual provisions of the One Big Beautiful Bill Act, including but not limited to:
- TCJA provisions made permanent
- New tip income deduction
- New overtime pay deduction
- New car loan interest deduction
- New temporary senior deduction
- Expanded SALT cap
- Trump Accounts
- Comprehensive coverage of business provisions of the One Big Beautiful Bill Act, including but not limited to:
- Bonus depreciation made permanent
- Increased §179 deduction
- Changes to §174 R&E expenditures
- Changes to §163(j)
- Form 1099/1099-K changes
- Qualified Small Business Stock Exclusion
- Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas
