Did You Miss the Team Tax Federal Tax Update in December? No Problem!

The Tax Team will present the Team Tax – Federal Tax Update again in January! Register below — scroll down!

The full-day simulcast will be broadcasted directly from the Tax Team’s studio to your device.

Event Description

“Things Change” . . . nowhere is that more true than in your tax practice. Congress changed some parts of the Internal Revenue Code three times in two years. Frequently Asked Questions (FAQs) have been the IRS’s favored method for telling us how those changes are supposed to work. But, can we rely on them when audited? Some of your clients will qualify for a series of new (and some old) tax credits limited only by Modified Adjusted Gross Income (MAGI). This course explains the four different MAGI calculations. In this course, a team of commentators will each present a one-hour segment focused on significant developments affecting topics such as personal income tax, business income and deductions, Representing clients in collection cases, wealth transfer planning, fringe benefits, Tax Court decisions, Tax decisions by Courts of Appeal, guidance on most recent tax legislation, IRS information and audit initiatives

Enrolled Agent Approved

CFP Approved

Designed for

Every CPA, EA, or Attorney who gives tax advice on Federal tax matters or prepares Federal tax returns of any kind.

Objectives

You will be able to:

• Apply information to planning and compliance for individual tax clients and assist with negotiation of payment plans for tax liabilities that exceed current payments
• Recognize planning opportunities and pitfalls in taxation of business transactions.
• Provide suggestions for changes to wealth transfer planning when the law changes.
• Apply knowledge of IRS initiatives to avoid surprises in your practice.
• Analyze FAQs to identify how apply and document in connection with return positions.
• Apply changes to rules regarding required health care coverage, HSAs, HRAs, IRA distributions for health issues, and taking full advantage of employee benefit plans.
• Advise business clients on best cost recovery options . . . bonus depreciation, Section 179, effect of cost segregation studies, value of an accounting method minimum capitalization policy.
• Establish data security program in accordance with IRS guidance.

Major Subjects

• Individual Income Tax Developments, including collection issues
• Business Income Tax Developments
• Wealth Transfer Issues
• Health and Retirement Plan Issues
• FAQs . . . Significant Guidance
• Pass-Through Entity Tax Developments
• Depreciation, Cost Recovery, and Tax-Free Exchanges
• IRS Audit Initiatives, Data Security Requirement, and Practice Aids

Session Titles & Speakers

• Things You Should Know about Individual Compliance – (But Might Not Have Known to Ask) – 2021 | Larry Pon
• Tax and Financial Planning with IRAs – Critical Tax Planning Content | Denise Appleby
• Individual Cases and Rulings – What You Need to Know about Crypto Currencies and Other Hot Issues | Mike Tucker & Lynn Nichols
• What We Need to Know About the New Law for Individuals | Lynn Nichols & Experts
• Lord Don’t Tax Me Twice – Pass Through Entities – Partnerships and S Corps | Bob Lickwar
• Employee Retention Credit – Don’t Fire Me You’ll Lose the Credit | Karen Davis
• Tax Compliance for PPP, EIDL and Other Loans and Grants – It’s Acrycom Heaven | Brad Burnett
• Business Tax Update 2021 and Where We’re Going 2022 | Ian Redpath