Objective
- Understand the latest enacted tax law changes
- Understand strategies and techniques to use in light of tax changes
- Understand current cases and rulings affecting individuals and businesses
Highlights
- New loss limitation rules applicable to NOLs and the ability to offset income
- Revised home mortgage interest deduction
- Treatment of state and local taxes
- Monumental changes to the treatment of alimony for both payor and payee
- Section 1031 like-kind exchanges
- Carried interest
- New deferral possibility for stock options
- New bonus depreciation rules and expansion of Sec 179
- Expansion of number of taxpayers able to use the cash method of accounting
- 30% business interest limitation
- New rules on entertainment expenses, including meals
- New business credit for wages paid due to family and medical leave
- Doubling of estate and gift tax exemption to $22.8M for a married couple
- Comprehensive coverage of the emerging flagship item of tax reform, Sec 199A and its alteration of pass-through taxation and planning
- Relevant state domicile issues which are quickly becoming a new source of practitioner profit
- Review of pertinent cases and rulings affecting taxpayers
- Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more
- The latest issues related to any other late-breaking tax law changes
Designed For
CPAs who need to know the latest tax law changes in all areas of practicePrerequisite
Experience with individual and business clientsAdvanced Preparation
None