Top Federal Tax Issues for 2018 CPE Course: Module 2 (Currently Unavailable)

Author: Jennifer Kowal, James R. Hamill

CPE Credit:  6 hours for CPAs
6 hours Federal Tax Law for CTEC
6 hours Federal Tax Related for EAs and OTRPs

Updated to reflect TCJA.

CCH's Top Federal Tax Issues Course is a concise exploration of hot, new tax developments. It focuses on the latest and most important topics for tax practitioners, and provides the basic information needed to implement a plan that addresses the particular opportunities and pitfalls presented by any one of these issues.

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

Publication Date: March 2018

Designed For
CPAs, Tax Professionals

Topics Covered

  • Expense or Capitalize?
  • S Corporation and Shareholder Tax Reporting
  • Partnership Tax Filing Issues

Learning Objectives

  • Explain general rules determining when expenses should be capitalized
  • Identify rules that require capitalization of transaction costs into basis of acquired assets
  • Differentiate how Code Sec. 263A requires capitalization of expenses into cost of goods sold
  • Recognize how the new "repair regulations" apply in common scenarios
  • Identify qualifications for electing and maintaining S corporation status
  • Recognize the steps commonly followed in completing Form 1120S
  • Recognize the effects on shareholders of S corporation distributions
  • Describe essential reporting issues and obligations in partnership taxation
  • Identify planning opportunities with partnership tax returns
  • Apply best practices for preparing partnership returns

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (6 hours)

Program Prerequisites
Basic understanding of Federal tax law

Advance Preparation
None

">
 Chat — Books Support