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Best Federal Tax Update (BFTU)

Thursday, October 27, 2016
11:30 AM - 07:30 PM (Eastern)

Jack Surgent, CPA

  • Format Webinar
  • Credits 8
  • Level Update
  • Field of Study Taxes (8)


Legislators and rulemakers were busy this past year. Their work has delivered a mixture of challenges and opportunities for individual and business tax clients. The Protecting Americans Against Tax Hikes (PATH) Act made some of the former so called 'tax extenders' permanent, further extended others, and changed the substance of several. Major changes to Social Security file-and-suspend and restricted application rules are forcing a total rethinking of many individual long-term planning strategies. The Affordable Care Act (ACA) tax compliance provisions continue to confound employers, with new requirements hitting their effective dates this year. These are just a few of the changes that will affect your clients this coming season, and they will look to you to understand the issues and develop a plan that serves their best interests. In this course, tax advisors will be fully updated on the most important legislative and regulatory developments of the season as well as major trends and changes in the case law. Included is full coverage of all tax implications with a view toward planning. Updated for coverage of the NEW Department of Labor exemption classification and overtime requirements.

Major Topics:

  • Update on major tax law changes, including the Protecting Americans Against Tax Hikes (PATH) Act of 2015 and Social Security changes included in the Bipartisan Budget Act of 2015
  • Advanced practitioner issues
  • Health care reform: how employers report and where individuals stand in 2016
  • Review of pertinent cases and rulings regarding exclusions, character issues, retirement plans, travel and other items affecting your individual taxpayers
  • Practice aids, including all the numbers applicable for 2016 - inflation-adjusted amounts, mileage rates, retirement contributions, and more
  • Recent developments with business entities, including C corporations, S corporations, partnerships, and limited liability companies
  • The latest on depreciation and safe harbor expensing options, including the $2,500 de minimis expense item
  • The latest issues related to passive activities, substantiation and any other late-breaking tax law changes

Learning Objectives

  • Understand strategies and techniques for individuals to use in light of tax changes
  • Understand how the various rules for capitalization, depreciation, and expensing apply
  • Understand current cases and rulings affecting individuals and businesses

Who should take this course:

CPAs who need to know the latest tax law changes in all areas of practice

Experience with individual and business clients







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