Insights: Seminar

Tax Update - Dubuque

Tax Update Course Description
The most comprehensive tax reform since the mid-1980s has been ushered in under The Tax Cuts & Jobs Act, and new tax brackets take effect in 2018. The standard deduction will see increased utilization, and the personal exemption is gone – just as the long-outlawed practice of deducting credit card interest has disappeared. These are just a few of the changes that will affect your clients this coming season, and they will look to you to understand the issues and develop a plan that serves their best interests.
In this course, tax advisors will be fully updated on the most important aspects of tax reform as well as major trends on the horizon with a view toward planning. Individual, partnership and corporate taxation, as altered by tax reform, will be included.

Major Topics:
• New loss limitation rules applicable to NOLs and the ability to offset income.
• Reformed child tax credit.
• Revised home mortgage interest deduction.
• Treatment of state and local taxes.
• Repeal of itemized deductions previously subject to 2% AGI floor.
• Survival of individual AMT with increased exemptions.
• Reduction to 7.5% floor for medical itemized deductions in 2017 and 2018 only.
• IRA recharacterization limits.
• Monumental changes to the treatment of alimony for both payor and payee.
• Section 1031 like-kind exchanges.
• Carried interest.
• New deferral possibility for stock options.
• Reduction in the corporate tax rate.
• Corporate AMT repeal.
• New bonus depreciation rules and expansion of §179.
• Expansion of number of taxpayers able to use the cash method of accounting.
• 30% business interest limitation.
• New rules on entertainment expenses, including meals.
• New business credit for wages paid due to family and medical leave.
• Doubling of estate and gift tax exemption to $22.36M for a married couple.
• Comprehensive coverage of the emerging flagship item of tax reform, §199A and its alteration of pass-through taxation and planning.
• Relevant state domicile issues, which are quickly becoming a new source of practitioner profit.
• Review of pertinent cases and rulings affecting taxpayers.
• Practice aids, including all the numbers applicable for the current year: -- inflation-adjusted amounts, mileage rates, retirement contributions, and more.
• The latest issues related to any other late-breaking tax law changes.

Learning Objectives:
• Review the latest pending and enacted tax law changes.
• Identify strategies and techniques to use in light of tax changes.
• Discuss current cases and rulings affecting individuals and businesses.

Presenter: Susan Smith, CPA
Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences.

Smith was a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She was an associate adjunct professor at Widener University in the master’s taxation program. Her ratings have consistently exceeded 4.7 on a scale of 5.0. Smith is a two-time recipient of the James L. McCoy Discussion Leader of the Year Award for excellence in teaching. And in 2015 and 2016, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills.

Smith earned her Bachelor of Business Administration degree, with an accounting concentration, from the University of Toledo.

CPE Information:
CPE Credits: 8

Field of Study:
Taxes
Level of Knowledge: Basic
Delivery Method:
In-Person Group Session

Additional Information:
These are live-group seminars. No prerequisites or advanced preparation required. For information regarding refund, complaint and program cancellation policies, please contact Jason McKeever at 701.476.8773.

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