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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.


Runtime: 103 minutes
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Why Lorman?

Over 32 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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More Program Information

Why Lorman?

Over 32 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 Webinar

This course was last revised on November 22, 2019.

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

  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     

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

Audio & Reference Manual

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

MP3 Download

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

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More Program Information

Why Lorman?

Over 32 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.

  • Has been with Ostrow Reisin Berk & Abrams, Ltd., since 1994, and became a director in 2001
  • He has more than 12 years of experience offering strategic tax planning and technical advice for individuals and the owners of closely held companies
  • Provides the full range of specialized services to his clients, which include high net worth individuals and business entrepreneurs
  • Has significant experience in the commodities and securities industry
  • Researched and implemented a wide range of federal and Illinois tax strategies, assisted with tax consulting for individuals and corporations, and represented numerous Illinois taxpayers during IRS and Illinois Department of Revenue audits
  • Is the firm’s primary consultant on state and local taxation issues and has experience with tax issues relating to international taxation
  • Has also assisted U.S.-based entities in planning for foreign operations as separate entities, branches or divisions
  • An active member and a former president of the Illinois CPA Society Chicago South Chapter and is also a member of the American Institute of Certified Public Accountants; in addition, he is a contributing writer for a tax newspaper column and previously was 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 32 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.

All of your training, right here at Lorman.

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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Product ID: 406566
Published 2019
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