Focus on recent federal tax issues impacting your organization, with a focus on major ramifications of the Tax Cuts and Jobs Act (TCJA) the Coronavirus Aid, Relief and Economic Security (CARES) Act and subsequent legislation. It will address planning alternatives and the potential risks associated with those strategies. This course is one part of a five-part series for CFOs.
Major topics include:
The AB5s of employees and independent contractors
- This session addresses the 20 factors the IRS uses to classify workers, with a focus on the severe tax penalties for misclassification. We will look at how Dynamex and AB5 will impact your organization. We will also examine the “gig” worker, review the broader independent contractor workforce, and apply the worker classification on year-end reporting.
Expensing and depreciating business assets
- Recovering the cost of capital is a critical business skill, and Congress is constantly changing the rules to impact the economy. In this session, we will discuss the most recent tax depreciation rules and developments, as well as review the impact of the TCJA and CARES Act changes. We will address Section 179 and 168(k) expensing, along with capitalization regulations and Qualified Improvement Property.
Navigating the new interest expense limitation
- Are you large enough to have your interest expense limited? This program will discuss how the new 30%/50% limit works and what happens to excess interest expense. We will examine how the new rules apply to partnerships, S and C corporations and their owners. This session will discuss reporting on Form 8990, as well as the 2022 problem.
COVID-19 losses: Going backwards and forwards
- TCJA made turning business losses into tax refunds far more difficult. The CARES Act suspended and modified many of those changes. This session will dig into the new rules for deducting business losses. We will also address the new five-year carryback, as well as amended returns and “quickie refunds.”
Group internet-basedCPE Credit: