Tax Cuts and Jobs Act Seminar- Waltham, MA (Completed)

This powerful full-day conference will provide you with the most recent and up-to-date explanations available on the Tax Cuts and Jobs Act of 2017. You'll receive answers to your clients’ tax questions regarding their tax situations going forward in 2018 and future years. Prepared and presented by tax expert and tax educator, Greg White, this live event covers all the bases, including an in-depth analysis of the complex maze of new rules dealing with the all of the items listed below and much more!

Significant attention will focus on the new qualified business deduction (QBID) under Code Section 199A. Questions answered will include which income qualifies for the 20% deduction and when do real estate rentals qualify? You will learn when wage and property limits apply to the QBID and when attorneys and CPA's qualify for the deduction. Mr. White will provide practical strategies to assist your clients in qualifying for the QBID, and he will cover the amount of wages and the property basis needed to optimize the QBID.

Each conference attendee will receive a complimentary copy of CCH's "U.S. Master Tax Guide (2018) Special Edition - Tax Cuts and Jobs Act," a $115 value. This special edition of "U.S. Master Tax Guide" has been updated exclusively to provide complete and reliable guidance on the historic Tax Cuts and Jobs Act — the most sweeping changes to the U.S. tax code in decades. This detailed reference book provides clear explanations of the pertinent federal tax changes that came into effect for tax years after 2017, as well as quick answers to the most challenging questions on reduced rates, the elimination of many deductions and credits, the enhancement of other tax breaks and more.

Who Should Attend
CPAs, Tax Preparers, Enrolled Agents, Tax Attorneys

Topics Covered

• Mechanics of the new qualified business income deduction (QBID) under Code Section 199A.
• Should your clients switch from S corporations to C corporations?
• Which types of business meals are still deductible?
• Can home equity loans still qualify for the mortgage interest deduction? What if the proceeds were used to remodel your principal or second residence?
• Can §179 be used to expense the cost of a new roof on a nonresidential building? Can §179 be used to write off tenant improvements for a nonresidential building?
• How has the scope of the $2,500 de minimis expense rule been expanded for most taxpayers?
• What practical tax strategies are available to reduce the impact of lost itemized deductions like unreimbursed employee expenses, taxes on investment property?
• What practical tax strategies are available in increase tax benefits from charitable donations?
• Which of your clients can convert to cash basis?
• What new methods are available for your clients to determine inventory costing?

Learning Objectives

• Understand and be able to advise clients on the new Tax Act
• Fully understand the new effective tax rates and 20% deduction for K-1 income
• Advise clients on choice-of-entity issues going forward
• Identify which clients are still subject to AMT
• Maximize deductions for immediate write-off of asset acquisitions

Level
Update

Instructional Method
Group: Live

NASBA Field of Study
Taxes (8 hours)

Program Prerequisites
Basic understanding of federal income taxation topics.

Advance Preparation
None