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.
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Why Lorman?
Over 36 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 36 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 36 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.
Ostrow Reisin Berk & Abrams, Ltd.
- Director of the tax practice of Ostrow Reisin Berk & Abrams, Ltd. (ORBA)
- Frequent speaker with the Illinois CPA Society covering federal tax updates, IRS representation, individual and corporate tax compliance, and income tax strategies for business transactions
- Offers more than 25 years of experience providing tax planning and technical advice for individuals and the owners of closely held companies
- Provides specialized tax planning services to clients, which include high-net-worth individuals and business entrepreneurs
- Member of the American Institute of Certified Public Accountants (AICPA) and Illinois CPA Society and former president of Chicago South Chapter
- M.S. degree in taxation, DePaul University; B.S. degree in accounting, summa cum laude, DePaul University
- Can be contacted at [email protected] or 312-670-7444
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More Program Information
Why Lorman?
Over 36 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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