Course Description
Tax laws are constantly changing!!
Tax and financial professionals need to stay current to understand the impact of these changes and to minimize taxes. The Tax Cuts and Jobs Act changed the way tax is calculated for most taxpayers, including those with substantial income not subject to withholding, such as small and mid-size business owners. Among other reforms, the new law revised business expense deductions, increased the standard deduction, removed personal exemptions, and increased the child tax credit.
This CPE/CE course would focus on business tax updates related to the CARES Act.
This practical CPE webinar provides a comprehensive update and an instant working knowledge of all key tax provisions. It will get you up to speed on the latest developments related to individual, partnership, S Corp, and C Corp returns for 2021.
This online CPE webinar covers all the aspects of taxation and the latest developments in tax laws. It includes basic formulas and methods that how the income tax is calculated. Further, there are deductions available for individual tax clients which helps to minimize the tax burden of your clients.
You will come to know the latest amendments from this CE tax course and enhance your knowledge to serve best to your individual tax clients.
The House has passed the Build Back Better Plan, which provides for major tax changes.
The bipartisan infrastructure bill includes $550 billion in new spending with set-asides for roads, bridges, transit, and more. From a tax perspective, if enacted as written, this bill would terminate the Employee Retention Credit three months early at the end of the third quarter of 2021 (except for recovery start-up businesses) and would strengthen tax enforcement on transactions involving cryptocurrencies.
The infrastructure bill has received a lot of attention but other proposed legislature has recently been released which would also affect tax returns.
This CE/CPE webinar will cover the latest proposals and possible implications.
Any business – regardless of its structure that makes "reportable transactions" during the year is required to issue 1099 to the recipient of income and to the IRS. Form 1099-MISC compliance is a surprisingly complicated compliance requirement for businesses and accountants. The requirements are always changing, and answers are seldom clear-cut.
To stay compliant, practitioners must know which form to use to report specific transactions, when forms must be filed or furnished to recipients to be on time, which information to include, and how to make sure it is accurate.
This Online CPE/CE course includes the latest update on Form 1099-NEC which is being resurrected by IRS & will be used to report payments made to independent contractors.
The IRS recently released a new version of Form 941 for the second quarter of 2020.
This revised form will account for COVID-19 related tax credits, including the employee retention credit (ERC) and tax credits under the Families First Coronavirus Response Act. We will cover the new Form 7200 for claiming advance payment of the tax credits, and how to reconcile on Form 941.
CARES Act and Stimulus packages have thrown a lot of incentives and money on the table for small businesses. CPAs, Accountants, Tax Professionals, and Advisors have to look into all the aspects to serve their clients or advise their company. In the noise of PPP and its forgivability lot of other things have been overlooked, which could bear a very significant impact on your clients.
Among the many tax provisions included in the CARES Act, crafted to provide liquidity for businesses suffering the effects of the COVID-19 outbreak, is one that postpones the employer portion of certain payroll taxes imposed in 2020 and gets tax credits.
Speaker Jason Dinesen in this online CE/CPE course will also review the ERC and FFCRA credits, as well as the ability to defer employer-side Social Security taxes. We will tie everything together with a case study that includes filling out forms.
Paying for educational expenses isn’t easy.
At tax time, certain educational tax credits can help offset some higher education costs by lowering the tax liability of households with eligible students. There are even some circumstances where one may be eligible for a tax refund.
If your clients paid for education expenses in the last year, you may be able to save money on their taxes by claiming the American opportunity credit or lifetime learning credit or opting for the tuition and fees deduction. The American opportunity credit is generally the most valuable if they qualify. Your clients can claim these education tax credits and deductions even if you paid with a student loan. Parents can take advantage, too, as long as they don't choose a married filing separately status.
This CE/CPE tax webinar discusses each educational tax credits options.
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