Objective
- Advise individual and small-business clients on implementing year-end tax planning strategies based on tax reform
Highlights
- A review of the new tax law changes with a laser focus on what to do by year-end to save client’s taxes
- Strategies on how to reduce AGI since itemized deduction opportunities are significantly reduced
- The complicated planning issues of dealing with material participation, real estate professionals, capital gain and loss issues and understanding the 3.8% Net Investment Income Tax
- New Qualified Opportunity Funds and Zones to reduce or eliminate capital gains taxes
- The new Kiddie Tax and family income splitting opportunities
- Section 179 expense elections and bonus depreciation: how to maximize the benefits under the new law
- Charitable contributions: major tax advantages still exist
- Tax planning with IRAs and HSAs
- 529 Plans: new rules, new opportunities
- Beating the estimated tax penalties with creative strategies
- Bunching expenses and deferring income: the best ideas to consider before year-end
- State and local tax deductions: what the IRS is saying now
- New credit for employer-paid family and medical leave
- Latest guidance on meals and entertainment
- …and much more
Note: For coverage of the Section 199A 20% deduction, please click here for Surgent’s 4-hour course on this topic.
Designed For
All CPAs who wish to learn the best tax planning strategies for individuals and small businesses to consider before year end.Prerequisite
A basic understanding of the tax rules relating to individual income taxAdvanced Preparation
None