MORNING SESSION:
Are you up-to-date on the latest tax planning developments for 2018? This course, newly authored by Margaret F. Suralik, CPA/ABV, ASA, explores the hottest tax planning topics that will impact you and your clients. Discover how these topics may impact tax planning strategies and be in a position to help minimize your client’s tax bill.
AFTERNOON SESSION:
Join us as we discuss the common errors practitioners make on individual tax returns that are often missed by review staff. The intent is to sharpen skills for reviewers by examining case studies and discussing issues where additional information from the client may be warranted and areas of tax law where proper treatment requires additional analysis and information. Multiple issues will be discussed including pass-through K-1s, home office issues, hobby losses, rental property, hiring spouses, depreciation, §179 issues, amortization and more! This course follows a highly illustrative case study format to increase participant comprehension and retention.
DESIGNED FOR
All practitioners. CPAs working with clients requiring up-to-date expertise in individual income taxation for the current tax season.
BENEFITS
- Determine whether a client’s tax plans are intact
- Apply recent tax law legislation to adjust tax planning strategies
- Recognize new tax planning opportunities
- Recall ways to minimize a client’s tax bill
- Identify common mistakes made on individual tax returns
- Determine strategies to avoid making mistakes on individual tax returns
HIGHLIGHTS
MORNING SESSION: Hottest Tax Planning Developments Under the Current Tax Law
- Current and Latest Tax Law Developments Affecting Individuals and Small Businesses including
- Update on Affordable Care Act tax developments
- Tax changes for individuals and businesses including extender legislation
- Dealing with the 3.8% net investment income tax (NIIT), including planning strategies
- Court decision tax developments
- Update on home ownership tax issues
- Update on passive activity loss (PAL) issues
- Hot tax planning strategies for individuals and small businesses
- Bankruptcy and insolvency, short sales and foreclosures
- Personal residence to rental property conversions
- PAL limitations
- Affordable Care Act
- Manage Section 1231 losses
- PAL and LLC members
- SE tax rules and active LLP partners
- Fringe benefit issues for partners and S Corp SHs Current and Latest Tax Law Developments for Corporate Entities, including
- Dividends, stock redemptions, and share sales
- Reasonable compensation
- Professional corporation conversions to LLC or LLP
- Non-compete agreement updates
AFTERNOON SESSION: Reviewing Individual Tax Returns
- Common errors made involving the following tax forms:
- Form 1040
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule E
- Form 4562
- Form 4797
COURSE LEVEL
Intermediate
PREREQUISITES
Basic understanding of individual and business taxation.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- This course does not qualify for the AICPA discount.
NJCPA Goes Green - Registrants Save $20
New for 2018, course materials will be distributed electronically and we're passing the savings along to you. All 8-hour seminar pricing has been reduced by $20. To access, visit your My Events page. Download to your laptop or tablet prior to your seminar. Handouts are added as received.