Advanced Business Tax Issues - Last Minute Planning and Compliance - Tax Team (LIVESTREAM)

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school Credits

  • Up to: 8.00 credits - Taxes

volume_up Speaker(s)

E. Nichols

E. Lynn Nichols, CPA

Dean Cochenour

Carey & Company, PA

W McGough

Merline & Meacham

About This Course

This program focuses and actions businesses can take, even at the “last minute” to reduce taxable income or take advantage of a tax credit.

Program Includes:
• Publication 4557 – protecting client data from identity theft
   o IRS Practice Unite – “Five Signs of Small Business Identity Theft, New Protection Methods”
• New Form 3115 and instructions for accounting method changes
• Court decisions affecting ordinary taxpayers with common issues
• Inflation adjusted amounts of various deductions and tax credits
• IRS Practice Units (Training programs created by IRS for RS agents)
   o “Basic Tools for Tax Professionals”
   o “Link & Learn Taxes”
   o “About” specific forms – 706, 709, 990, etc.


Learning Objectives:
• Take advantage of important tax “elections”
   o Section 179
   o Bonus depreciation
   o “De minimis rule”
   o R&D expenditures
   o Establish qualified plans to secure tax deductions
• Create basis in order to claim losses
• Make beneficial accounting method changes that can reduce current year income
• Comply with any new reporting requirements
   o Take advantage of favorable court decisions
   o Follow IRS published guidance and changes in the law
      - “Kiddie Tax” – how to report income of minor children
      - S Corporation shareholder health insurance
      - Forms

This Course Is Recommended For

<strong>Designed for:</strong> CPAs, EAs and Attorneys whose clients wait until the last month of their year to inform their return preparer of important transaction or to seek guidance on tax questions.