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Full: Federal Tax Reform Update

June 27, 2018 @ 8:30 am - 4:45 pm SA CPA Training Center $255.00 – $425.00
Course Number: 2018062738

This class is now closed to additional online registration; to be placed on the waiting list, please call SACPAS at 210-828-2722 or toll free at 888-828-8680.

Nonmembers CPAs pay an additional $21.25 per credit hour for CE classes; nonmember CPAs will be held responsible for paying this additional amount.

This seminar will cover all aspects of the Tax Cuts and Jobs Act of 2017. Specifically, the following areas associated with the new tax act will be discussed:

INDIVIDUAL

  • new income tax rates
  • filing status
  • suspension of personal and dependent exemptions
  • expansion of discharge of debt on student loans
  • suspension of qualified moving expenses and moving expense reimbursement
  • revised rules on deduction of alimony by payor and inclusion of alimony by payee
  • capital gains treatment issues
  • Section 529 plan revisions
  • implementation of the new Qualified Business Income deduction
  • increase in standard deduction
  • suspension of overall limitation of itemized deductions
  • reinstatement of medical expense haircut threshold
  • limitation on itemized deduction for taxes
  • limitation on mortgage interest deduction
  • expansion of cash contributions and modification to substantiation requirements
  • disallowance of miscellaneous itemized deduction subject to 2% AGI
  • personal casualty loss safe harbors and future limitations
  • gambling losses limitation broadened
  • increase in Child Tax credit and implementation of Non-child credit
  • Qualified Business Income deduction
  • revised alternative minimum tax
  • revised kiddie tax
  • elimination of shared responsibility payment

BUSINESS

  • new corporate tax rates
  • reduction in corporate dividends received deduction
  • new corporate minimum tax and offset
  • revised Section 179 expensing
  • revised bonus depreciation rules
  • eligibility of building improvement for 15-year recovery expanded
  • ADS recovery periods adjusted
  • new limitations on cash method of accounting
  • NOL deduction limitations
  • deduction for net business interest limitation
  • repeal of Domestic Production Activity deduction
  • repeal of entertainment expense deduction
  • expenses for employer operating eating facilities limited
  • limitation deduction for qualified transportation fringes
  • repeal of business expense deduction for lobbying
  • broadening of non-deductions or fines and penalties
  • new Paid Family and Medical Leave credit
  • other business credit limitations
  • treatment of revocations of S Corp elections
  • expansion of qualifying beneficiaries of electing business trusts
  • charitable deductions for electing small business trusts
  • repeal of partnership technical termination rules
  • basis reduction for partnership charitable contributions

This seminar will also discuss changes that impact tax-exempt organizations and foreign corporations as well as trusts and estates. In addition, the tax provisions in the Bipartisan Budget Act of 2018 will also be examined. These include extenders and non-extenders as well as casualty loss treatment associated with natural disasters. Proposed planning suggestions will also be discussed in the seminar.

Learning Objective(s): 
Attendees will gain knowledge of the individual and business tax issues mentioned above, associated with the Tax Cuts and Jobs Act of 2017.

Prerequisites: The method of presentation is group-live instruction and the program level is overview/update.  There are no prerequisites for this course nor is there any advanced preparation required.

 

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Details

Date:
June 27, 2018
Time:
8:30 am - 4:45 pm
Cost:
$255.00 – $425.00
Event Categories:
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Event Tags:
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Organizer

Blaise C. Bender, JD, CPA

Venue

SA CPA Training Center
901 NE Loop 410
San Antonio, TX 78209 United States
+ Google Map
Phone:
(210) 828-2722
Website:
/contact/#Directions
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