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Top Year-End Tax Strategies for Your Clients

Gain insight into tax planning issues that now apply to individuals and businesses, including changes in pass-through income and corporate tax rates, and how to manage the costs and benefits of new tax law issues.

U.S. taxpayers are still learning about changes in tax strategies due to recent U.S. tax reform under the Tax Cuts and Jobs Act of 2017 (TCJA). Many aspects of tax planning and preparation have changed for all taxpayers for the first time in more than thirty years since the 1986 Tax Act. This topic will provide you with an overview of the tax planning issues that now apply to individuals and businesses, including changes in pass-through income and corporate tax rates, and how to manage the costs and benefits of new tax law issues. The range of topics will include new limitations on itemized deductions and choices to structure and plan for your business entity.

103 minutes
Certificate of Completion
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Identifying Individual Income Tax Benefits

  • New Issues for Employees and Contractors
  • Investment Benefits and Alternatives
  • Capital Gains and Dividend Rates
  • Retirement and Taxable Benefits
  • Tax Deferral Benefits and Elections

Identifying Business Income Tax Benefits

  • New Tax Rates for Business Entities
  • New Tax Deduction for Flow-Through Business
  • Depreciation Alternatives and Tax Elections
  • Real Property and Personal Property Issues
  • New Rules on Claiming Business Losses
  • Foreign Income Reporting Issues

Tax Planning Update and Tax Reform Issues

  • Itemized Deductions and Limitations
  • Individual Tax Deductions and Credits
  • Alternative Minimum Tax (AMT) and NIIT Update
  • Retirement Planning and Payroll Taxes
  • Business Spending and Benefits for Employees

Top Issues for Year End Planning Strategies

  • Managing Level of Income for More Benefits
  • Claiming Losses for Past/Future Benefits
  • Timing and Reporting of Income Under Cash Method
  • Claiming Excess Deductions and Credits
  • Home Office Deductions and Limitations
  • Capital Gains and Losses Planning
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on November 22, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Thomas M. Kosinski, C.P.A., M.S.T.

Thomas M. Kosinski, C.P.A., M.S.T.

Ostrow Reisin Berk & Abrams, Ltd.

  • Member of the Tax Department at Ostrow Reisin Berk & Abrams, Ltd., since 1994, and became a director in 2001
  • Frequent speaker with the Illinois CPA Society covering Federal and State Tax Updates, IRS matters, individual and corporate tax compliance, and flow-through income tax strategies
  • Offers more than 25 years of experience providing strategic tax planning and technical advice for individuals and the owners of closely held companies
  • Provides specialized tax planning services to his clients, which include high-net-worth individuals and business entrepreneurs
  • Has significant industry experience including real estate and commodities/securities
  • Researches and implements a wide range of federal and Illinois tax strategies, and represents numerous Illinois taxpayers during IRS and Illinois Department of Revenue audits
  • Consults with firm clients on state and local taxation issues and manages firm issues relating to international taxation
  • Assists U.S.-based entities in planning for foreign operations as separate entities, branches, or divisions
  • Active member and a former president of the Illinois CPA Society Chicago South Chapter and a member of the American Institute of Certified Public Accountants
  • Contributing author for a tax newspaper column and previously a co-author for a tax savings publication for individual taxation
  • Master’s degree in taxation and B.S. degree in accounting, summa cum laude, DePaul University
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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  • State Specific Credit Tracker
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Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 406566
Published 2019
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