Technical Business Practice Issues and Tax Forms for Experienced Practitioners (VIRTUAL SEMINAR)

More Courses

ATFB  |  Virtual Live  |  Advanced  |  Scheduled

Description

Please note: This seminar will only be available via live webcast.

Curriculum

  • Taxation

Prerequisites

Basic to intermediate-level experience in preparing Forms 1120S and 1065

Designed For

CPAs who are involved in planning, preparing or reviewing complex returns

Highlights

  • New basis reporting issues for pass-through entities
  • An Amplified Interest in “Business Interest Expenses”
  • Professional practice and reporting issues for all entities
  • DOL Update: Avoid these methods some employers use to evade the overtime requirements
  • Lost deduction for certain fringe benefits, but maintaining the employee exclusion from inccome
  • Taking initiative in difficult assignments, can you deliver the QBI message?
  • How much has the cost of operating as a C Corporation gone down?
  • What is terminating S corporations today?
  • Can I amend prior returns to correct an impermissible accounting method?
  • How §179 limitations affect basis in partnership, LLC, and S corporations
  • When to use “704(b) basis” for capital accounts versus “tax basis”
  • Detailed rules of §704 for preventing the shifting of tax consequences among partners or members
  • Unreasonable uses of the traditional and curative allocation methods
  • Capital account adjustments with admission of new member/partner
  • Special allocation issues of §704, including economic effect, the “dumb but-lucky” rule, and substantiality
  • Social Security Issues—proposals for changes
  • Special allocations (allocating a taxable gain that has a book loss)
  • Review of final regulations on S corporation “open debt”
  • Basis neither increased by phantom income, nor reduced by non-deducted pass-through losses
  • Taxable distribution in excess of basis and reporting issues to shareholders
  • Battling employee vs. independent contractor questions and the Voluntary Classification Settlement Program (VCSP)
  • Payroll penalties; enforcement activities are hot
Registration for this event has closed. If you have any question or concerns please give us a call at 515-223-8161 or send us an e-mail at iacpa@iacpa.org

Instructors

Randy C. Newton

Show Bio

Randy C. Newton, CPA, is president/partner and founder of Newton Greene & Associates, PLLC. Randy’s area of expertise is the Corporate, Partnership and Individual Income Tax utilizing a pro-active tax planning model that streamlines, simplifies and works to reduce tax liabilities for small businesses. In addition, he specializes in tax research with a focus on SC and NC state and local issues. Prior to founding of Newton Greene, Randy worked with First Union National Bank in their Corporate Accounting and Capital Markets Division. Randy received his Accounting degree, Cum Laude, from Appalachian State University in 1992 and is a member of Phi Kappa Phi National Honor Society.

Register for this course