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Best Overview on Tax Updates Latest

  • ACCT/BK
  • AFSP
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  • CPA (US)
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  • ORTP
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Published: January, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • 2021 Return reminders
    5 mins
  • Other payment apps
    36 mins
  • Expanded daycare credit
    65 mins
  • What is a restaurant
    93 mins
  • Multiple support agreement example
    131 mins
  • Virtual currency
    116 mins
  • Child tax credit
    147 mins
  • What's happening with the infrastructure bill?
    168 mins
  • Backup withholding
    232 mins
  • Recovery startup business
    277 mins
  • Electronic copies
    340 mins

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.

Learning Objectives

  • To identify new COVID-19 tax provisions: the Paycheck Protection Program, Employee Retention Credit, and mandatory sick leave under the FFCRA.
  • To identify qualified business income (Section 199A) deduction and updates.
  • To identify the differences between Employee vs. contractor: an audit hotspot.
  • To recognize how the federal income tax differs from other types of federal taxes.
  • To describe the process of computation of taxes for an individual.
  • To identify deadlines for filing income tax returns and estimated taxes and how to obtain an extension of time for filing a return.
  • To describe the tax changes in the infrastructure bill.
  • To identify other proposed legislation.
  • To discuss Form 1099.
  • To identify the rules requiring W-9 documentation and 1099 reporting for various types of forms.
  • To recognize how to establish the independent contractor relationship with the right documentation.
  • To review payroll-related COVID-19 relief provisions: deferral of Social Security tax, the ERC, and tax credits under the FFCRA.
  • To analyze how to claim credit in Families First Coronavirus Response Act for qualified sick leave wages, qualified family leave wages.
  • To identify different types of credits and deductions available for college expenses.
  • To identify how taxpayers can use Section 529 plans.

Recommended For

  • This online IRS-approved CE course is recommended for CPAs, EAs, AFSPs, Other Tax Professionals, and Business Owners desiring to update themselves with the latest business tax updates and the latest tax laws for individual clients.
  • This IRS-Approved CE course is recommended for CPAs, EAs, AFSPs, and Other Tax Professionals, interested in updating themselves about the latest infrastructure bill and other proposed legislation.
  • This Online CE webinar is recommended for PFS, TEP, CTEC, ChFC, CSA, FSCP, CASL, ChSNC, RICP, WMCP, and other professionals who desire to learn about the proposals in the infrastructure bill.
  • This CPE Webinar is recommended for CPA, EA, AFSP, and every professional in the Accounting and tax industry, including Compliance Officers, Information Reporting Officers, Tax Managers, CFOs, Controllers, Accounting Managers, Compliance Managers, or professional & team members in accounting and tax practice.
  • This CE/CPE webinar is recommended for EAs, CPAs, and other payroll and tax professionals.
  • This IRS-Approved course is recommended for CPAs, EAs, AFSPs, and Other Tax Professionals and Business Owners desiring to learn everything about educational tax credits and its update.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 8 CE Credit for Annual Filing Season Program (AFSP)
  • 8 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0316)
  • 8 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 8 CPE Credit for Certified Valuation Analyst (CVA)
  • 8 CE Credit of Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00628-21-S)
  • 8 CE Credit of Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00628-21-S)
  • 8 CE Credit of Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00628-21-S)
  • 8 PL Credit for Chartered Financial Analyst (CFA)
  • 8 CPD Credit for Personal Financial Specialist (PFS)
  • 8 CPD Credit for Trust and Estate Practitioners (TEP)
  • 8 CPE Credit for Chartered Financial Consultant (ChFC)
  • 8 CE Credit for Certified Senior Advisor (CSA)
  • 8 CPE Credit for Financial Services Certified Professional (FSCP)
  • 8 CPE Credit for Chartered Advisor in Senior Living (CASL)
  • 8 CPE Credit for Chartered Special Needs Consultant (ChSNC)
  • 8 CPE Credit for Retirement Income Certified Professional (RICP)
  • 8 CPE Credit for Wealth Management Certified Professional (WMCP)
  • 8 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 8 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 8 CE Credit for Certified Wealth Strategist (CWS)
  • 8 General Credit for Accountant/Bookkeeper (ACCT./BK)

Additional details

  • Course Level :
    Basic
  • Credits :
    8
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

Presenter

About Presenter

Jason Dinesen, EA, LPA

President, Dinesen Tax & Accounting, P.C.

Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert and a well known presenter of continuing education courses. He has an impeccable acumen for tax subjects, by virtue of which, he is known to create very well researched course materials helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries.

Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics and much more.

He has presented over dozens of webinars on Form 1099 (MISC & R); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit and other issues relating to the modern-day household setting.

Moreover, Jason is known to be producing every other webinar/course a little different and updated from the previous one. No wonder, he is a top ranked presenter whose webinars and self-study course materials are very well received by the audience. 

He also teaches 2 classes at Simpson College, Individual Income Tax and Business Analytics. 

Jason always had a knack for radio shows and has and regularly features as an anchor for Radio Iowa. To reinvent this aptitude, he has recently started his own series of podcasts on myCPE ‘The Jason Show’, an edutainment podcast series that also provides continuing credits to the listeners.

Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola. He has a big family that includes his wife, two sons, 5 cats and 3 dogs. His other hobbies include coaching budding football players and carpentry. Topmost item in his 2022 bucket list is to learn how to properly ‘nose & taste’ whisky. 

About Company

Dinesen Tax & Accounting, P.C.

www.dinesentax.com

Unlike some other accounting firms, when Dinesen Tax & Accounting, P.C. says we offer personal service, we mean it. When you come to us with your tax preparation needs, you’ll deal directly with our owner and president, Jason Dinesen. We don’t put administrative staff in the middle of you and our tax expert. That means you’ll always have first-hand knowledge of where things stand, and important information won’t slip through the cracks. We welcome all clients, but especially individuals who want the benefits of a long-term relationship with an accounting firm capable of handling anything that might come along with their taxes. We give all our clients the time, attention, and convenience they should expect. If you have a challenging professional or personal schedule, Jason will accommodate you by meeting whenever – and wherever – works best for you.

Faq

FAQs content

  • 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.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • 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.

Ratings and Review

4.5

13 Ratings

Excellent

6

Very Good

7

Average

0

Poor

0

Terrible

0

Carianne Weston
Carianne Weston, CPA (US), CGMA

Feb 27th, 2022

Engaging speaker and clear content. Thank you! :)

PP

Peggy Piletere, CPA (US)

Apr 25th, 2022

too much repetition of material

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