Tax Cuts & Jobs Act | 4173556A

Date :
February 13, 2018 8:30 AM - 4:00 PM
Location :
San Francisco Peninsula
Facility :
CalCPA Flex Center - Burlingame
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Level of Difficulty :
Intermediate
Member Price :
325.00
Nonmember Price :
425.00
CPE Credits :
CPE 8.00
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On December 22, 2017 President Trump signed into law the Tax Cuts and Jobs Act (TCJA). The major overhaul of our tax system will lower income tax rates for individual and corporate taxpayers and introduce a new 20% deduction for qualified business income for sole proprietors and pass-through entities (starting in 2018). The cornerstone of this course is the comprehensive discussion of the newly enacted income tax provisions affecting individuals and businesses.

Objectives:

Once participants have completed this session they should be able to explain the newly enacted individual and business income tax provisions of the TCJA to their clients, colleagues and employees.

Major Subjects:

This session will extensively cover the newly enacted income tax provisions of the TCJA affecting individuals and businesses (i.e., sole proprietors, C & S Corporations and partnerships/LLC) laws. Each participant will receive the most up-to-date comprehensive reference manual on this subject. Topics include but are not limited to:
• 20% deduction for qualified business income for sole proprietors and pass-through entities (New IRC §199A)
• Individuals - reduction to the income tax rates and modifications to the AMT and kiddie tax calculations
• C corporations - reduction to the income tax rates, AMT repeal and
modifications to the dividend received deduction
• Partnerships - technical termination rule repeal and §743 substantial built-in-loss changes
• S Corporations - new distribution ordering rules for eligible terminated S corporations
• New excess business loss limitations
• Modifications to the NOL rules
• Changes and increases to both the §179 expense and bonus deprecation and other depreciation changes for farmers
• Modifications to fringe benefits including the elimination of entertainment expenses
• Elimination of like-kind exchanges for personal property
• Modifications to the individual standard deduction, itemized deductions and personal exemptions
• Reduction of the individual mandate tax (i.e., shared responsibility payment) to zero
• New business interest expense limitations
• Repeal of the domestic production activities deduction (§199)
• Expansion of the cash method of accounting and exemption from percentage of completion method
• New general business credit for family and medical leave

Advanced Prep:

None

Misc. Information:

Pay the lowest price and save up to 60% with the CalCPA Education Foundation’s discount programs.
Level of Difficulty:
Intermediate
Field of Interest:
Taxes
Prerequisites:
None
Designed For:
CPAs, accountants and lawyers who will be preparing tax returns in 2018

Instructors

J Patrick Garverick, CPA
Pat began his career in public accounting after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from Ohio State University (1988). Pat began his own tax and financial planning business upon receiving his Master of Taxation (MT) degree from Arizona State University in 1992. His business provides writing, reviewing and teaching tax and financial planning CPE training courses. As an award winning discussion leader, Pat’s knowledge, expertise and high energy makes him one of the profession’s highest rated speakers resulting in numerous perfect scores for both knowledge and presentation skills. He is a two-time recipient of Education Foundation's Award for Outstanding Course Material, and a recipient of the Education Foundation's Award for Instructor Excellence.

Materials:

  • Materials - eBook