Courses

Surgent's Top Business Tax Planning Strategies On-Demand Webcast

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

The Inflation Reduction Act (IRA) contained certain provisions relating to businesses that tax practitioners should know about in order to advise their clients. Certain changes, such as the alternative minimum tax and the stock buyback 1% tax currently apply to a very small number of very large businesses and as such are not a priority for tax practitioners that do not have such clients. Other changes relating to certain energy credits and deductions relating to energy efficiency are applicable to many businesses. These critical changes will be covered in detail in this program.

Objective

Advise business clients on implementing tax planning strategies this year

Highlights

Brief outline of the new Alternative Minimum Tax and the 1% tax on corporate stock buybacks
Increase in the research credit
Extension of the Section 461(l) loss limitation
Discussion of the unchanged rules relating to carried interest
The IRA’s two-tier “base” rate and “increased” rate structure for renewable energy tax credits
Credit for purchasing a qualified commercial clean vehicle
Restrictions imposed on Electric Vehicle Manufacturers
Section 179(d): changes relating to the energy-efficient commercial building deduction
Section 45(l): changes relating to the energy efficient home credit
Transferring energy credits for auto purchases to dealers
Purchase/sale of credits
Expansion of subsidies for climate-friendly agriculture
Changes to bonus depreciation after 2022

Designed For

Tax practitioners who anticipate advising business clients regarding strategies to reduce or eliminate federal income taxes

Prerequisite

A basic understanding of the tax rules relating to individual income tax

Advanced Preparation

None