2020 Federal Tax Update for Businesses (Full-Day Webinar) (Completed)

More than ever, this year promises to be one with lots of questions from your clients. How will the CARES Act, PPP Act, and the latest cases and administrative guidance affect the upcoming tax preparation season? How have the documentation requirements for meals and entertainment been changed?

You’ll be guided through the maze with this eight-hour CPE course taught by Greg White. This course will get you up to speed on the latest developments related to S corporation, partnership and C Corporation returns for 2020. This fast-paced program will highlight legal and regulatory developments as well as give you a head start on those 2020 returns.

Partial credit will not be awarded for attendees that are not present for the entirety of the webinar.

Who Should Attend
Designed for tax professionals involved in federal tax planning or tax return preparation.

Topics Covered

• CARES Act impact — Including the retention credit, business loss limitations (§461(l)), and §163(j) limits
• New proposed regulations on meals and entertainment
• New "start-up" cost (§195) cases
• Have the IRS audit rates increased or decreased?
• New case on self-employment tax for LLC members
• Lastly, we'll keep you "up to the minute" on late-breaking tax developments

Learning Objectives

• Identify which of your clients qualify for the new Retention Credit
• Recognize how to compute disallowed expenses related to PPP loan forgiveness
• Identify new forms issued by the IRS
• Recognize how to compute new "tax basis" capital accounts that are required to be disclosed on
• Identify how to prepare accurate business tax returns for 2020
• Identify the latest developments in business taxation for 2020

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (8 hours)

Program Prerequisites
Basic understanding of federal income taxation concepts.

Advance Preparation
None