Courses

This is a 2-hour video conference led by Lucien P. Gauthier, Esq., LL.M., CPA

On July 30, the Service issued Proposed Regulations to implement the legislative changes to sections 263A, 448, 460, and 471 for certain businesses having average annual gross receipts that do not exceed $25M (adjusted for inflation).  Among other changes, the Proposed Regulations interpret the Section 471 Small Business Taxpayer Exemption which is found in Section 471(c) of the Code.  Our 2-hour live video conference will take a First Look at both the Preamble to and the Proposed Regulations regarding the Treatment of Inventory as Non-Incidental Materials and Supplies and the Treatment of Inventory by Taxpayers Without an AFS (applicable financial statement).  You may not like what you are going to hear, but you may be able to avoid the threat!  Please join us on August 11 from 9:00am-11:15am for a lively discussion of how these Proposed Regulations will impact your client’s tax treatment of inventory under varying circumstances!!!

This is a live, interactive Zoom video conference with Q & A throughout the seminar.