The Tax Cuts and Jobs Act is the biggest change to the tax law in over 30 years. With so many big changes, its easy to lose track of what has changed and what has not. Pandemic has further enhance that problem.
We will cover overview of every major change for individuals and businesses.
The biggest change to the law was the inclusion of a new 20% of qualified business income under IRC 199A. This new deduction has a lot of possibilities to save taxpayers thousands of dollars on their taxes. However, Congress has also made it easier for the IRS to assess penalties against practitioners and taxpayers, so it is extremely vital to get a great understanding of the deduction. The deduction uses taxable income, qualified business income, the qualified unadjusted basis of assets, and qualified wages. Each item has unique definitions that are not readily apparent. There were many other changes in Tax Cuts and Jobs Act including :
Simplified Tax Filings
Nearly Doubled the Standard Deduction
Changes in Itemized Deduction
Changes in Alternative Minimum Tax
Pass-through Business Income Deduction
Limit on Pass-through business losses
Any many more....
In this webinar, we shall also highlight 10 Tips that you can use and give to your client and help them in reducing their tax liability. This latest webinar is updated after the pandemic, covering the latest updates.
Learning Objectives
Identify changes to individual tax law
Identify changes to business tax law
Understnand Tax planning strategies under the new law
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary
MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the VSCPA’s Tax Advisory Committee and the AICPA’s Tax Practice and Responsibilities Committee. Nicholas is an adjunct professor with the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).
FAQ
To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.
Refund/Cancellation Policy
For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).
Testimonial
4.4
(25)
64%
16%
12%
8%
0%
VC
vincent cardullo ,
Oct 7th 2020
The speaker spoke in a fluent manner. The information was presented at a reasonable pace. I had no questions on the information presented. The displays were easy to read, very informative and answered any questions, which came to mind . The speaker was skilled in utilizing the displays in presenting the information of the webinar.
RDR
Ruth de Redon ,
Nov 3rd, 2020
I wish this could have been longer! I really enjoyed this presenter. The examples were extremely clear and helpful given what can be a very complex topic. I have watched a handful of webinars regarding trusts, estates, gift tax, life insurance, etc. and this one was notably the easiest and most interesting to follow. This webinar genuinely intrigued me and kept me present the entire time.
MF
Mark Francis ,
Sep 25th, 2020
I really enjoyed this webinar. I learned new things and how to provide my clients with not only more options but also more knowledge about their options. Everything during the webinar was explained in such great detail that was very easy to understand. Thank you
RH
Robin Hodge ,
Aug 21st, 2020
I enjoyed listening to the Presenter. I wasn't concerned or noticed the time; it actually went fast. The information and material was very needed and appropriate. I have a greater understanding and resources to help me as a tax professional.
DA
Donald Anderson ,
Aug 12th, 2020
Nicholas is always a wealth of information, and I really appreciate the fact that he back up everything with the statutes. So helpful in showing some clients where we get the advice that we give them.
TM
Tina Muswieck ,
Sep 24th, 2020
This is one of the best presenters I have ever had. Everything was perfect from start to finish. Very well organized and delivery was top notch. Any none tax professional could make sense of this presentation. It was just great! I enjoyed to listening to Nicholas.
