Individual and Business Tax Planning Strategies after the Tax Cuts and Jobs Act

Karen Davis, EA, Jeffrey Jacobs, Esq., Lance Weiss, CPA, CVA, Michael J. Tucker, CPA, LL.M. (moderator)
  • 3
  • Intermediate
  • Taxes
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Broadcast Times

3-hr. course: $89; 4-hr. course: $129
Volume Discounts:Click here for details.

Overview

In many cases, the tax changes that took effect in 2018 present opportunities for individuals and businesses to reduce their tax liabilities. However, unless these new rules are implemented in an effective and timely manner, neither individuals nor businesses can benefit from them. This program covers the planning strategies individuals and businesses can use to reduce their tax liabilities, based on the tax changes that took effect for 2018 and after.

Major Topics:

  • How to implement and maximize the 20% deduction for pass-through entities
  • Deciding whether a change of entity is appropriate
  • How to treat alimony under the new law
  • Whether to elect Section 179 and bonus depreciation
  • Medical expenses and charitable contributions considering the increased standard deduction
  • Handling excess business losses of individuals
  • Forgoing home-equity debt treatment to maximize interest deductions
  • Dealing with the limitation on deduction of net business interest expense
  • The limitation on deduction of expenses for entertainment and certain fringe benefits by employers

Learning Objectives

Offer planning strategies that provide avenues to implementing the new law to the advantage of both individual and business clients

Any tax practitioner wishing a more thorough understand the planning implications and strategies of the recently enacted tax legislation and the IRS’s guidance relating to the implementation of those new rules

Experience with handling basic individual income tax transactions

None

Yes

Yes

Varies by state. Click here for details