Description

Tax Planning is not just for the rich and famous. This course will provide insights to numerous topics so tax professionals can assist their moderate-income clients to create & preserve wealth. Ensure we provide clients with tools necessary to provide practical tax planning techniques, be hands-on to develop a long-term beneficial relationship.

Objectives

Upon completion of this course, you will be able to:

• Demonstrate how QCD can reduce taxes and maximize charitable deductions
• Discuss Form SSA-44, Life-Changing Events & reducing Medicare Part B premiums
• Appraise the benefits of 529 Plans & Paying for College & implement
• Counterintuitive tax planning regarding Scholarships & AOTC
• Analyze, compare & PLAN regarding Retirement plans
• Dramatize 401(k) savings for the average taxpayer
• Critique Divorce situations to benefit clients & explain why 50/50 is not always equal
• IRC § 121 opportunities
• Clarify the implications of capital gains reduced tax rate & potential issues, and more

Details

Instructor

A J Reynolds, EA

Duration

100 minutes

Prerequisite

General understanding of federal tax law

Advanced preparation

None

Delivery method

Group Live

Description

Tax season always brings new challenges, and this year will be no exception. Join us for this fast-paced overview where you will receive the latest information and guidance that has transpired over the last 12 months affecting your practice encompassing your individual and business clients. This program provides tax professionals with a comprehensive and practitioner focused update on the most significant federal individual and business tax developments. Using authoritative IRS releases, notices, revenue procedures, and statutory changes—including OBBBA provisions, Circular 230 guidance, and new compliance initiatives—the course equips tax professionals with the knowledge required to accurately advise clients and maintain compliance in a rapidly evolving regulatory environment. Through real-world examples, statutory analysis, and practitioner-oriented discussion, attendees will gain clarity on how these changes affect tax return preparation, planning, compliance, and client communication.

Details

Instructor

A J Reynolds, EA

Duration

100 minutes

Prerequisite

General understanding of federal tax law

Advanced preparation

None

Delivery method

Group Live

Description

Join us for this essential class on critical issues affecting the decedent. What is the significance of "Step Up" Basis on decedent's assets? What forms are required and or recommended to be filed? What happens with the decedents Capital and Net Operating Losses? Who or What is a Personal Representative? Who can sign the decedent return if no estate is open? Significance of IRC Section 454 regarding Savings Bonds will be discussed in addition we will define terms associated with the decedent, review filing dates, and separating income and expenses between the decedent and estate. Bonus Material: Review issues surrounding delay or frozen refunds for deceased individuals, obtaining a POA for a decedent, and issues surrounding decedent's Digital Assets.

Objectives

Upon completion of this course, you will be able to:

• Define Important Terms and Checklists
• Review Forms, Filing Dates, and Requirements
• Discuss Significance of Protecting Deceased's Identity
• Examine Personal Representative Duties
• Who can Sign Returns?
• Classify Income and Expenses – Where Does it Go?
• Explain Basis of Estate Property
• Explore Capital Losses and NOL's
• Explore Other Issues
• Investigate what's New?

Details

Instructor

A J Reynolds, EA

Duration

50 minutes

Prerequisite

General understanding of federal tax law

Advanced preparation

None

Delivery method

Group Live

Description

Travel and meal expenses are deductible if they are ordinary, necessary, and reasonable expenses associated with a trade or business. This course will analyze changes provided by TCJA and CAA. In addition, we will review the underlying rules under Internal Revenue Code § 274.

Objectives

Upon completion of this course, you will be able to:

• Examine § 274
• Define key terms
• Analyze Business Meals
• What is Entertainment
• Define what is a Restaurant
• Identify substantiation requirements
• Assess accountable plans
• Discuss Tax Home
• Review Case Law

Details

Instructor

A J Reynolds, EA

Duration

50 minutes

Prerequisite

General understanding of federal tax law

Advanced preparation

None

Delivery method

Group Live

Description

When a client wants to discuss whether they should change entity types it is key to understand the tax impact of the conversion. It is not as simple as just reporting the change on the appropriate form. During this session we'll discuss what happens when a limited liability company (LLC) adds owners or when the sale of interests leaves only one partner in that LLC. Additionally, we will address factors to consider when the LLC owner(s) wants to elect in or out of corporate status. Furthermore, Conversions to S Corporation and IRC § 351 election will be detailed. Finally, an in-depth discussion on when and if entity will need a new Federal Identification Number.

Objectives

Upon completion of this course, you will be able to:

• Discuss when and or if Entity needs new Federal ID Number
• Summarize steps required converting a Multi-member LLC (MMLLC) treated as partnership to a Single Member LLC treated as sole proprietorship
• Identify tax impacts of adding a member to a Single Member LLC (SMLLC)
• Determine tax consequences when a SMLLC converts to S Corporation
• Outline mechanics of converting MMLLC to S Corporation

Details

Instructor

A J Reynolds, EA

Duration

100 minutes

Prerequisite

General understanding of federal tax law

Advanced preparation

None

Delivery method

Group Live