The time is NOW to help your business clients with tax strategies for 2020!

Most strategies for reducing federal income tax liabilities require analysis, fact gathering, comparisons of alternatives, and projections of possible results. The best time to devote yourself to formulating those strategies is the summer and fall before year-end pressures overwhelm your available time.

The Tax Cuts and Jobs Act of 2017 added real tax saving opportunities for owner-managed businesses, but determining which ones might benefit your client requires prior-year analysis and projection for future years. Learn how to lay the groundwork required for the much-discussed tax law changes in the TCJA.

Advanced Business Tax Planning and Current Developments for Tax Specialists (SMTX01) is an update course on Friday, July 12, that concentrates on developments in federal tax law affecting planning and compliance for business entities and business transactions.

The daylong event (8:30 a.m.-4:30 p.m.) at the Royal Banquet and Conference Center in North Charleston will cover those parts of the Tax Cuts and Jobs Act of 2017 that are most troublesome to businesses.

Learn How To:

  • Change accounting methods and provide cost/benefit analysis to your client
  • Take advantage of opportunities to defer recognition of taxable income
  • Provide tax effective fringe benefits for owners and employees of closely held businesses
  • Apply tax saving opportunities made available by the Tax Cuts and Jobs Act of 2017
  • Provide information to get maximum benefit from a cost segregation study
  • Maximize the tax saving opportunities of new Code Section 199A
  • Make the right decisions between Section 179 deductions, bonus depreciation, and application of the de minimis provisions in the “repair regs”
  • Plan for any limits imposed by the business interest limit or the loss limitations that limit recognition of all types of losses to a single annual amount

Who Will be There?

Discussion leader Arthur Werner, CPA, JD, MS, will be joined by Lynn Nichols, CPA, to walk you through IRS rulings and court decisions that can affect how you advise your business clients on federal income tax matters. Verne McGough, a tax, corporate and estate planning attorney, will bring you up to date for the 199A Deduction on applications and calculations.

Each member of the Tax Team is an experienced practitioner who is prepared to present tax saving ideas. They will focus on the limited scope of tax planning that is best done before year end.

Time will be provided for questions and answers. Tax Team member Lynn Nichols will be available after the presentation to arrange for private consideration of your issue related to the subject matter of the program.

Topics Include Current Developments and Application of:

  • Tax Planning with Fringe Benefit Programs
  • IRC Sec. 199A Qualified Business Income Deduction
  • IRC Sec. 163(j) Business Interest Limitation
  • IRC Sec. 461(l) Limitation on Excess Business Losses
  • Accounting Method Changes – New Form 3115, Instructions, and Revenue Procedures
  • Depreciation and Cost Recovery

Who Is This Program For?

“To be perfectly honest, this program is not for everyone!” says Lynn Nichols. “It is for the CPA with responsibility for client relationships. The CPA who not just enjoys having the right answer but who anticipates the question and offers pro-active tax saving ideas.”

If that’s you, we want your participation in this program.

What They’re Saying

Here’s what SCACPA members are saying about previous South Carolina Tax Team Courses:

“It’s the most relevant CPE course I have ever taken. Every word was something I needed for my practice.”

“This was very timely and informative. It reinforced some things, and I learned some new things as well.”

Register today for Advanced Business Tax Planning and Current Developments for Tax Specialists, and get the most out of your SCACPA experience.

WHERE: Royal Banquet and Conference Center
4750 Abraham Ave., North Charleston, SC 29405