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Event Description

Cases, Rulings, Regulations, FAQs … if your job involves giving tax compliance advice and reviewing Federal income tax returns.  You will benefit from this program.  Misunderstandings about key provisions of the TCJA of 2017 continue to create responsibility for giving good advice and opportunities to help clients file accurate and complete returns. 

Program Includes:
• 2019 Tax Return preparation issues to comply with:L
   o Business interest limitation
   o Qualified Improvement Property and any late changes to allow 15-year life
   o Election to expense certain depreciable assets
   o Qualified business income
   o Excess business losses of non-corporate taxpayers
   o Preparation of Form 1040, Schedule C
• Income tax regulations issued to implement portions of the TCJA of 2017
• Revenue Rulings, Notices, Revenue Procedures providing compliance guidance for new tax law
• Changes to Kiddie Tax
• Limits on itemized deductions

Designed For

Designed For: CPAs, EAs and Attorneys who have primary responsibility for preparation and review of complex Federal income tax returns.

Objectives

Learning Objectives:
• Recognize the need for tax elections and completion of special forms
   o Interest limitation  
   o Accounting methods
   o Depreciation and cost recovery methods
   o Disclosure of return positions – Form 8275
• Analyze basis in LLCs, partnerships and S corporations
• Identify information required to be retained in the preparer’s “permanent” files
• Comply with any new reporting requirements
   o Net operating losses and business interest limitation
   o Take advantage of favorable court decisions
   o Follow IRS published guidance
      – Forms
      – FAQs

Discussion Leaders

E. Nichols, CPA

Michael Tucker, CPA, Ph.D

Dean Cochenour, CPA, MBA

W McGough, CPA