Courses

Surgent's Critical Tax Reform Update for CPAs: The Tax Cuts and Jobs Act (TACT)

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Member Price: $0.00 Non-Member Price: $0.00

Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
Level:: Update

The Tax Cuts and Jobs Act was signed by President Trump on Dec. 22, and it changes the tax rules beyond any changes we have seen in the last 30 years. It has been a long process to get to this final tax legislation, and now tax practitioners are faced with the daunting task of understanding it and determining how it will impact their clients. This course covers the new law in a practical way so that practitioners not only know what the changes are but appreciate how these changes will impact both individual and business clients.

Objective

Understand and apply the changes in the tax law brought about by the Tax Cuts and Jobs Act

Highlights

Reduction in individual and corporate tax rates
Taxation of pass-through entities
Deduction of home mortgage interest
State and local tax deductions
New alimony rules
Repeal of the Obamacare individual mandate
Standard deduction and itemized deductions
Child tax credit
Use of §529 accounts
Survival of personal AMT and repeal of corporate AMT
Estate and gift tax
New limitations on business losses
New depreciation rules and §179 expensing
Business interest
Modification of NOL rules
New credit for employer-paid family and medical leave
Repatriation of foreign funds

Designed For

Tax practitioners seeking to understand the new tax legislation and how it impacts their clients

Prerequisite

Experience with individual and business clients

Advanced Preparation

None