Join the Bergen Chapter for this annual half-day tax update to learn about the major tax developments that will affect your clients.
BENEFITS
Earn 4 CPE credits in Taxation.
HIGHLIGHTS
Section 199A Qualified Business Income Deduction
Dominic Vaccarello, CPA - Ross, Rosenthal & Company, LLP
- Overview of Section 199A
- Defining Qualified Business Income
- W-2 Wages
- UBIA of Qualifying Property
- Calculations and Examples
- Netting of Losses
- Aggregation
- Specified Service Trade or Business
Accounting Methods
Frank Agostino, J.D., LL.M. - Agostino & Associates, P.C.
The Tax Cuts and Jobs Act (“TCJA”) has provided for significant tax reform for businesses. Included among the many changes are some favorable provisions offering relief to small businesses with respect to accounting method reform and simplification. The common theme of these provisions is to the increase of outdated gross receipt thresholds:
- Modification of the Limitation on Cash Method of Accounting
- Exemption from Uniform Capitalization (UNICAP) Requirements
- Exemption from Inventories
- Exemption from Percentage Completion for Long-Term Contracts
Choice of Entity
Cal Feingold, Esq. - Feingold and Edelblum LLC
What is the superior choice of business entity under the 2017 tax reform legislation?
- Factors to consider with a conversion, and the importance of understand all the facts and circumstances of your business, as well as the individual shareholder/partner considerations
- Reduction in Corporate Tax Rate
- 20% Qualified Business Income deduction
- State tax implications for the business and owners
- Exit strategy alternatives and timing considerations for shareholders and/or partners
- More clarification on the new tax reform to come
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PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES
$25 late fee applied after 12/04. Season Pass holders must register for each event.
For handouts, please visit your My Events page. Handouts are added as received - remember to check back for updates.