Review current year developments and planning ideas affecting individual, corporate and business income taxation using a combination of humor and examples. We will emphasize all major new tax legislation as well as other significant tax developments that affect 2021 tax return preparation and 2021 tax planning for individuals, corporations and non-corporate businesses.
The course format is designed to update CPAs with various levels of experience.
Major subjects include:
- A review of the latest new law provisions effective for 2021, such as:
- The expanded employee retention credit (including maximizing the credit and PPP loan forgiveness)
- Extended sick leave and family leave credits
- Extension of excess business loss limitations through 2026
- Up to $10,200 exclusion for unemployment benefits
- Stimulus payments and rebate credit
- Increased child tax credit and dependent care credit
- Tax-free forgiveness of student loans
- 100% deduction for certain business food and beverage expenses
- Increased charitable contribution limitations
- New revised rules for obtaining PPP loan forgiveness
- And more
- A review of any other significant 2021 tax legislation
- Final regulations explaining the treatment of inventories and use of the cash method for taxpayers with average gross receipts of $26 million or less
- Regulations extending life expectancies for determining RMDs from IRAs and qualified retirement plans
- Other new tax cases, rulings, and regulations expected to have the most significant impact on individuals and businesses.
- The presentation will emphasize tax planning opportunities resulting from these recent developments.
Group internet-basedCPE Credit: