Topics covered include:
Developments impacting employers, such as deferred compensation, deducting business meals and employee discounts;
Developments impacting individuals including portability, tax-free distributions in divorce, higher education deductions, and tax credits available for purchasing health insurance through the government marketplace;
Other developments such as the tax ramifications of not keeping good records, reconstruction of income, depreciation of real estate, partnership audits and IRS interest rates for underpayment and overpayment of taxes;
Filing deadlines are also reviewed.
Upon completing this course, you should be able to:
Discuss the requirements for certain tax-free fringe benefits;
Explain the conditions for deducting the cost of an MBA;
List changes for PTINs and ITINs.