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Tuesday, December 29, 2020 Webcast

Year-End Tax Update and Planning: Looking Back at 2020, Getting Ready for 2021 (X1-YETU-2020-01-WEBNR-364-01)

1:30 PM - 5:00 PM EST

Webcast


4.0 CPE Credits in TX

OVERVIEW

2020 has been a year that tax practitioners could never have anticipated, largely due to the COVID-19 pandemic and the resulting economic devastation. Attempts to alleviate COVID-19's damage to the economy included a host of tax changes impacting both individuals and businesses. Tax practitioners now find themselves concerned with PPP loan forgiveness, 5-year NOL carrybacks, and much more. But, much like the COVID-19 virus itself, many of these programs may not go away with the new year but may be extended into 2021 in an attempt to revive and sustain the economy for the long term. In addition, many of the changes included in The Tax Cuts and Jobs Act are now scheduled to start up in 2021, and President-elect Biden will assume office in January with his own tax reform agenda that could be enacted in and impact part or all of 2021.

DESIGNED FOR

All practitioners who advise clients on individual and business tax planning strategies

BENEFITS

  • Advise individual and business clients on year-end 2020 tax planning
  • Understand the impacts of potential 2021 tax changes, including the new stimulus package 

HIGHLIGHTS

  • COVID-19 stimulus legislation
  • President-elect Biden’s individual and business tax proposals
  • Review of employer sick leave, family leave, and Employee Retention Credits
  • Special rules in 2020 for IRA and qualified plan distributions and loans
  • Temporary halt in residential evictions, including a potential new eviction moratorium effective in 2021
  • Waiver of RMDs for 2020
  • Deducting COVID-19–related losses
  • Issues with distressed employers not paying for employee health insurance or responding to requests for pension plan distributions
  • Alternative health insurance coverage options
  • Status of PPP loan forgiveness, including another PPP loan program that will make PPP loans available in 2021
  • Definition of “compensation” for PPP loan purposes
  • Payroll tax deferrals by employees and employers
  • Changes to net operating losses and Section 461(l) for 2020
  • Taking advantage of changes relating to property eligible for bonus depreciation
  • Partnership capital reporting requirements
  • Important 2020 cases, rulings, and regulations

COURSE LEVEL

Update

PREREQUISITES

A basic knowledge of individual and business tax

INSTRUCTOR

Michael Tucker

Michael J. Tucker, CPA, Ph.D., J.D., LL.M.

Ph.D., JD, CPA

Professional Education Network

Michael J. Tucker is an employee of Surgent McCoy CPE, LLC and a consultant for the accounting firm of T.M. Byxbee Co. in Hamden, CT. He is the author of many professional articles and a veteran TV and live-seminar presenter. In addition, he heads up Surgent McCoy's webinar efforts, where he writes and hosts many of the webinars Surgent McCoy sponsors and presents. Mr. Tucker was a professor at Quinnipiac University in Hamden, CT and worked with KPMG Peat Marwick and Deloitte & Touche. Mr. Tucker received his J.D. from New York University, his LL.M. from Georgetown University Law Center, and his Ph.D. from the University of Houston.

PRICING

$169.00 - Member

$179.00 - Nonmember

Pre-Registration Closed

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COURSE DEVELOPER

Surgent