Topics Covered:
Business;
Qualified Plans;
Fringe Benefits;
Employment Tax;
Complete partnership, S corp, and C corp returns for 2017;
Disregarded Entities;
IRS Practice;
Agriculture;
Rule changes, court decisions and other developments that will affect 2017 returns.
Upon completing this course, you should be able to: Identify regulatory developments;
Explain the latest developments in business taxation for 2017;
Prepare accurate business tax returns for 2017;
Identify which type of real estate carries a 39 year cost recovery life;
Recognize congressional acts added the ability to take bonus depreciation on certain property as well as certain amendments to the tax treatment of computer software;
Differentiate methods of accounting recently identified by the IRS as being improperly applied by land developers;
Describe true statements with respect to employee fringe benefits and qualified plans
Identify the projected 2018 FICA wage base;
Identify the due date for C Corps with tax years ending in June;
Differentiate cases involved an S Corp whose president and sole shareholder claimed a zero salary;
Identify an entity recognized under state or local law but ignored for federal tax purposes;
Identify information that is relevant to the beginning basis when establishing a partner's outside basis;
Differentiate statements regarding tax preparer willful or reckless conduct;
Recognize real life cases dealing with step up basis and how to apply the rulings to your clients;
Describe the PATH Act and it's impact;
Identify Section 168(k) bonus depreciation percentage for 2019;
Recognize when noncash fringe may be provided tax free to a worker;
Identify the contribution limit to a health flexible spending arrangement for 2017;
Recognize the 2017 FICA wage base;
Identify the new maximum fine for I-9 paperwork errors;
Recognize the form qualified tax-exempt organizations that hire eligible unemployed veterans can claim work opportunity tax credit against their payroll tax liability;
Recognize examples of disregarded entity;
Identify information that is relevant exclusively to ongoing adjustments when establishing a partner's outside basis;
Differentiate statements with respect to Centralized Partnership Audit Rules (CPAR);
Recognize how many days of election a partnership must notify partners of elections our of CPAR;
Identify how many days after the IRS mails notice of final partnership adjustment a partnership making a "push out" election must notify the IRS within;
Recognize the Fast Track Settlement Program preserves taxpayer's ability to request;
Describe how many tax professional data breaches per week;
Identify the minimum penalty for tax preparer willful or reckless conduct;
Differentiate cases dealing with charitable contributions of easements and qualified farmers and ranchers.
$ 40.00
Course is unavailable for purchase.
NASBA Field of Study
Taxes
Level
Update
CPE Credits
4.0
Prerequisites
Basic understanding of federal income taxation concepts.
Last Updated
02/16/2018
11961
This Site uses cookies to store information on your device. Some are essential to make our Site work properly; others help us improve the visitor and user experience. By using the Site, you consent to the placement of these cookies. Read our privacy policy to learn more.