Description

Failure to enact the Build Back Better Act has forced tax planners to rely on tax changes enacted as part of the Tax Cuts and Jobs Act to reduce taxable income and increase deductions. This program discusses tax planning opportunities provided under current law for 2022 and beyond.

Presented by Mike Tucker, Ph.D., LL.M., J.D., CPA

Target Audience

Tax practitioners who anticipate advising business clients in 2022 regarding strategies to reduce or eliminate federal income taxation

Course Objectives

• Advise business owner clients on adopting tax planning strategies that would reduce their tax liability

Subjects

• Taking advance of the potential for another round of Coronavirus Tax Relief in 2022
• The exclusion of employer payments of student loans
• CCA 202151005 — when rental activities are subject to self-employment tax
• Obtaining long-term capital gain treatment for the sale of a carried interest
• Surprise medical bills are now illegal
• Coronavirus-related distributions and recontributions
• Qualified small employer health reimbursement arrangements (QSEHRAs)
• 100% deduction for meals
• When an LLC member is subject to self-employment tax

Prerequisites

A basic understanding of the tax rules relating to individual income tax