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Tax Implications And Planning Due To Covid-19

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • ORTP
  • CRTP

Published: July, 2020

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  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Overview

  • Legislation
    5 mins
  • Regular Tax Planning
    12 mins
  • Stimulus Checks
    24 mins
  • Lending Programs
    28 mins
  • What do we do?
    42 mins
  • Big Tax Changes
    49 mins
  • IRC 139
    54 mins
  • Accounting for 139 Payments
    64 mins
  • Payroll Tax Defer
    65 mins
  • Employee Retention Credit
    69 mins
  • Emergency Paid Sick Leave Credit
    71 mins
  • Other Major Tax Provision
    73 mins

Course Description

Typically in election years, we do not see much in terms of tax law changes. However, 2020 has been a very different year. From the passage of the SECURE Act to the CARES Act there has been a multitude of highly important tax changes. These changes come in two forms: 

  • Amendments that you can work on right now to get cash into your client’s pockets.
  • Changes that will impact future years that require proper planning.

As Corona virus wreaks economic havoc, Congress and IRS have acted swiftly through the tax law in response. These relief efforts cut much deeper and wider than first meet the eye. By now, we’re 3 rounds of legislation and many rounds of IRS (and Labor) guidance into this thing. With all the talk about the PPP loan program, these changes have flown under the radar. This webinar will look at the changes and what you can do to best position clients to take advantage of these clients. With revenues down for most accounting firms, we will also discuss how these changes can help drive additional revenues to make up for other short-falls. Please join us for insights on what’s happened so far and a look ahead to what organizations can do to stay ahead of the curve.

Learning Objectives

  • To identify the major changes in the SECURE Act
  • To identify the major changes in the CARES Act
  • To recall the state legislation that impacts COVID
  • To identify other COVID related legislation
  • To align work projects related to these acts with actionable items to help drive revenues

Who Should Attend?

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

Course Qualification

Webinar Qualifies For

  • 2 CE Credit of Federal Tax Update for Tax Professionals (Approval No. GEHNZ-U-00185-20-S)
  • 2 CE Credit of Taxes for Tax Professionals (Approval No. GEHNZ-U-00185-20-S)
  • 2 CE Credit for Oregon Registered Tax Preparers (ORTP)
  • 2 CE Credit of Federal Tax Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00185-20-S)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CE Credit of Federal Tax Law Update for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0197)
  • 2 CE Credit for Annual Filing Season Program (AFSP)

Presenter

About Presenter

Nicholas Preusch

Certified Public Accountant (CPA) Nicholas Preusch

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  AICPA’s Tax Executive Committee. Nicholas is an adjunct professor at 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).

About Company

Nicholas Preusch

yhbcpa.com/

Nicholas Preusch, CPA, JD, LLM, is a tax manager with PBMares, LLP. 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

FAQs content

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Ratings and Review

4.4

12 Ratings

Excellent

7

Very Good

3

Average

2

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0

Terrible

0

KN

Krista Nicklas, EA

Dec 20th, 2020

good