NOTE: There will be an opportunity to receive answers from the instructor in real-time by submitting your questions in the Q&A forum on the webinar page!

Combining the real-life experience of working with numerous CPA firms and tax professionals around the country, as well as comprehensive easy-to-read materials containing pertinent examples and illustrations, this powerful course essentially becomes a “must” for those practitioners needing a forum to review client issues that arose during this busy season which will certainly go down as another one of the most difficult and confusing to-date, causing many returns to be extended (or, amended). Also, critical tax issues and mid-year planning strategies for 2023 will be thoroughly covered, along with the most important tax developments, cases, IRS rulings and regulations over the last 6 months that we maybe only had a chance to glanced at, given the bombardment of information and issues. Click here to view a detailed course description.

Topics & Learning Objectives Include:

• Latest BBB prospects for significant corporate and individual tax increases
• Continued evaluation of “choice-of-entity” issues and how best to operate under current tax environment
• Latest update to SECURE 2.0 and retirement plan changes
• Failure to pay employment taxes and trust fund penalty - latest cases & developments
• Requirements for various tax credits and rebate reconciliation applicable to individual taxpayers
• Underpayment penalty tax relief for Employer Retention Credit and related refunds
• Increased “luxury car” caps for 2022; Possible gain recognition on sale of used business vehicles
• Filing “automatic consent” Form 3115s for “small business” accounting changes and negative Sec. 481 adjustments
• IRS requirement for Form 1065 Schedule K-2 and K-3 reporting
• Bonus depreciation and Sec. 754 step-ups
• New IRS audit effort focuses on partnership loss limitation rules
• Review of new S corp owner basis requirement statement on Schedule E - new Form 7203
• Implementation of new Sec. 461(l) “excess loss deduction” limits for 2022
• Impact of SALT cap on deducting allocable taxes on Form 8960 for 3.8% Medicare surtax
• Interaction of SALT cap and “tax benefit” rule for 2020 state/local income tax refunds
• Temporary 100% deduction for “restaurant meals”
• QIP issues with MACRS 15-year classification and eligibility for bonus depreciation
• Coverage of the latest IRS guidance and issues on Sec. 199A deduction

Click On The Video Below To View A Demo of Prof. Connors

Prof. John Connors is one of the most knowledgeable tax lecturers in the nation. He has the ability to simplify the most complex tax rules. Bring in all your tax questions and get a CORRECT answer.