2025 Mid - Year Tax Update: Planning for Businesses

Overview

The new administration has proposed significant tax policy changes that may impact individual taxpayers and financial planning strategies. This course provides tax practitioners with essential updates on recent legislation, regulatory changes, and potential future reforms. Participants will explore the implications of proposed tax cuts, adjustments to Social Security and retirement taxation, and potential modifications to deductions and credits. The course also examines ongoing discussions about IRS restructuring and the expansion of tax incentives for American businesses and families.

With a focus on practical strategies, this course equips tax professionals with the tools to help clients prepare for these changes before year-end. Whether addressing Form 1040 issues, capital gains planning, or income and estate tax considerations, participants will gain insights to help clients make informed decisions.

*Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com

Highlights

Legislative changes affecting business tax planning
Depreciation, start-up expenses, and profit motive considerations
Employee classification, compensation, and benefits
Business use of home, vehicle, and meals/entertainment deductions
Cryptocurrency taxation and cannabis industry tax concerns
Section 199A deduction and penalties related to business operations

Prerequisites

Basic understanding of individual taxation

Designed For

CPAs, EAs, attorneys, financial planners, insurance agents, and bankers

Objectives

Analyze major changes to the Internal Revenue Code affecting business taxation.
Develop tax planning strategies to optimize clients' business operations under current tax laws.
Evaluate potential tax changes under the new administration and their implications for businesses.
Advise clients on employee classification, compensation, and retirement plan considerations.
Explain business-specific tax issues, including depreciation, start-up expenses, and home office deductions.
Assess compliance requirements related to penalties, health insurance, and business use of vehicles.