Description

Both businesses and individual clients face major changes as a result of new legislation, and tax professionals face the considerable challenge of delivering effective planning advice and services to address this myriad of recent developments. This course addresses this challenge and also encompasses the latest cases and rulings applicable to individual and business clients. Continually updated to reflect enacted legislation. Please Note: Due to content overlap, it is recommended that this course NOT be taken together with BIT4.

Instructor: Dave Peters, CPA, CFP, CLU, CPCU, MST, MBA

Target Audience

Accounting and Finance Professionals who need to know the latest tax law changes in all areas of practice

Course Objectives

Understand strategies and techniques to use in light of new legislation

Understand the latest enacted tax law changes

Understand current cases and rulings affecting your clients

Subjects

Comprehensive coverage of individual provisions of the One Big Beautiful Bill Act, including but not limited to:

TCJA provisions made permanent

New Tip Income Deduction

New Overtime Pay Deduction

New Car Loan Interest Deduction

New Temporary Senior Deduction

Expanded SALT Cap

Trump Accounts

Comprehensive coverage of business provisions of the One Big Beautiful Bill Act, including but not limited to:

Bonus Depreciation made permanent

Increased §179 deduction

Changes to §174 R&E Expenditures

Changes to §163(j)

Form 1099/1099-K changes

Qualified Small Business Stock Exclusion 

The Gig Economy - examine key tax implications for gig workers, including Independent Contractor vs. Employee classification challenges and employer reporting responsibilities

Timely coverage of breaking tax legislation

Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas

Prerequisites

Experience with individual and business clients