Tax Legislation Update: Tax Cuts and Jobs Act

Author: Mark Luscombe

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC

Mark Luscombe, Principal Analyst for Wolters Kluwer Tax & Accounting, leads this course that’s designed to help you answer client questions about the TCJA. Among other topics, you’ll learn to identify the new individual and corporate tax rates, identify the new capital gains tax for joint filers, describe exemptions and regulations that will carry through 2025, and differentiate tax areas which generally remained the same under the new tax regulations.

Publication Date: June 2018

Designed For
CPAs, EAs, tax preparers, tax staff, and others who advise clients on tax matters.

Topics Covered

  • Provisions of the final Tax Cuts and Jobs Act of 2017
  • Individual and business tax changes covered under the new legislation
  • Planning changes for 2018
  • Differentiate tax areas which generally remained the same under the new tax regulations

Learning Objectives

  • Recognize the individual and business tax changes
  • Describe the TCJA's provisions for both individual and business clients
  • Recognize how to answer basic client questions regarding the tax legislation
  • Identify the new individual and corporate tax rates
  • Identify the new standard deduction for head of households
  • Differentiate tax areas which generally remained the same under the new tax regulations
  • Recognize the new tax regulations and its impact on disaster zone relief
  • Identify one of the business provision changes enacted through the new tax regulations
  • Identify the new capital gains tax for joint filers
  • Differentiate tax breaks or credits were eliminated with respect to the new tax regulations
  • Recognize the tax on stock compensation of insiders of expatriated corporations increase
  • Describe exemption and regulations effects that will carry through 2025
  • Identify the amount the new tax regulation of Section 179 increased to
  • Identify the new repatriation tax on accumulated foreign earnings that are in the form of cash or cash equivalents

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of Federal Tax Law

Advance Preparation
None

Registration Options
Quantity
Fees
Regular Fee $66

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