2019 Federal Tax Update for Businesses: Including Tax Cuts and Jobs Act Update (Full-Day Webinar) (Completed)

Date: Thursday, January 23, 2020
Instructor: Greg White
Begin Time:  7:00am Pacific Time
8:00am Mountain Time
9:00am Central Time
10:00am Eastern Time
CPE Credit:  8 hours for CPAs
8 hours Federal Tax Law Updates for EAs and OTRPs
8 hours Federal Tax Updates for CTEC

More than ever, this year promises to be one with lots of questions:
• What new guidance has clarified the Tax Cuts and Jobs Act (TCJA)?
• What major cases and administrative guidance will affect your practice?
• What questions are not answered yet by the IRS?

CCH will guide you through the maze with this eight-hour CPE webinar taught by Greg White, CPA. This course will get you up to speed on the latest developments in that you must know to complete partnership, S corp, and C corp returns for 2019. This fast-paced program will highlight legal and regulatory developments as well as give you a head start on those 2019 returns that will include the changes from TCJA.

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

This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.

Topics Covered

  • Deep dive into the new final regulations for the Section 199A 20% passthrough deduction (QBID)
  • Final regulations:
    • Planning for S corporation shareholder compensation to maximize the QBID
    • Maximizing the QBID for LLC members
    • Maximizing the QBID on the sale of a business
  • Depreciation:
    • Final regulations will make massive changes to depreciation
    • We'll cover the changes in depth.
  • New reporting requirement for partners' "negative tax capital accounts" on Form 1065:
    • When does it apply?
    • How are they computed?
    • The IRS's new penalty safe harbor: If you missed reporting negative tax capital accounts on a 2018 Form 1040, how much time do you have to amend — so you can qualify for IRS's new penalty safe harbor?
  • "Opportunity Zones":
    • How your clients can benefit from them
  • The Research Credit:
    • A big accounting firm appears to have provided bad advice to its client on the research credit. And the Tax Court disallowed the credit. We'll cover the mistakes that were made
  • The IRS has a new policy that's resulted in its issuing far fewer temporary regulations, revenue rulings, notices and other guidance
    • What's going on?
    • What can you expect in the future?
  • The IRS released guidance on when LLC members are subject to self-employment tax
    • There's a big surprise
  • The IRS will be stepping up enforcement of backup withholding
    • What discussion should you have with your clients on this topic?

Learning Objectives

  • Identify the latest developments in business taxation for 2019
  • Recognize the TCJA impact on business returns
  • Identify how to prepare accurate business tax returns for 2019

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

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