Prepare for tax season with this power-packed, one-day federal business entity update course. With an uncertain economic environment and increasingly complex legislative and regulatory changes, be sure you are up to date on new tax forms and changes to existing tax forms, as well as tax planning opportunities and pitfalls. This is a must-attend course for tax practitioners who want to quickly get up to speed for a successful federal business income tax filing season.
Identify which federal tax laws impact C and S corporations, partnerships, LLCs, LLPs and their owners with an emphasis on any new legislative changes.
Recognize the most common preparation issues for business income tax returns through numerous examples, practice aids and review of the IRS tax forms.
A comprehensive review of the Federal business income tax provisions and tax forms/schedules that will affect the 2015 tax returns and 2016 tax projections with an emphasis on newly enacted tax legislation, court cases and IRS guidance.
Review the taxes, penalties &; credits enacted by the Patient Protection &; Affordable Care Act including:
New group (i.e., 2 or more employees) health plan nondiscrimination requirements and potential excise tax of $36,500/year/employee for non-compliance
The shared responsibility excise tax penalty for large employers (i.e., 50 or more employees) under IRC 4980H, the temporary delay (until 2016) for mid-size employers (i.e., 50 to 99 employees) new final regulations
Required employer and insurer reporting of health insurance coverage (i.e., information returns)
3.8% net investment income tax (1411) and 0.9% additional Medicare tax and their impact on shareholders and partners
Receive a comprehensive business income tax reference manual that includes numerous practice aids, real world examples, new Federal income tax forms and schedules, and the Garverick CPE Quick Reference Chart
Review any recent changes to depreciation and 179 expense
Cover issues related to compensation, distributions, liquidations, self-employment taxes and retirement plans
CPAs and tax accountants in public or private practice in need of a federal business entity income tax update course.
Prerequisite: General knowledge in C corporation, S corporation, partnership and individual income taxes.
Advanced Prep: None
Speaker: J Patrick Garverick, CPA, MT, CFP
Field of Study: Taxes
CPE Credit: 8 Hours
Meet the Speaker:
J. Patrick "Pat" Garverick began his career in public accounting in 1988 after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. After receiving his Master of Taxation (MT) degree from Arizona State University in 1992, Mr. Garverick began his own tax and financial planning business as well as writing, reviewing and teaching tax and financial planning CPE training courses around the country. As an award winning discussion leader, his knowledge, expertise and high energy have made him one of the profession’s highest rated speakers resulting in numerous perfect scores for both knowledge and presentation skills."