Tax Planning Under Tax Cuts & Job Act - 10 Tips to Reduce Taxes for your Clients (Latest)

4.4 (25)

Nicholas Preusch, CPA

PBMares, LLP

Wednesday, March 03, 2021 | 12:30 PM EST

  • AFSP
  • CPA
  • CVA
  • EA
  • Tax Pros
  • PFS
  • CTEC
  • CFE

2 CPE | 2 CE

$20

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPE credit of Taxes for all CPAs

2 CPD credit (Verifiable) for CPA/PFS

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 CE credit of Federal Tax for Oregon Tax Preparers

2 CE credit of Federal Tax for Maryland Tax Preparers

2 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ )

2 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

2 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

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
  • Get to know IRC 199A – 20% QBI Deduction
  • Understand the newest and latest guidance

Who Should Attend?

  • Enrolled Agent
  • Tax Attorney
  • Tax Practitioners
  • Bookkeeper
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Tax Pros
  • Tax Firm
  • Young CPA
  • CPA in Business
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Managers
  • Tax Preparer

Testimonial

4.4

(25)
64%
16%
12%
8%
0%

VC

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

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

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

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

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

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.