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Surgent's Tax Reform Overview (Self-Study)

Code: JSODTARU

Date Valid for one year from purchase date
Format Self-Study (On-Demand)
CPE credits CPE 4.0
Specialty
credits
4.0 IRS CE approved
Field(s)
of study
Taxes - Technical (4.0)
Fees
Standard member fee $89.00
checkmarkStandard nonmember fee $89.00

Members: Please log in to receive member fee.

Description

The Tax Cuts and Jobs Act, passed in December 2017, brought us the largest overhaul to the tax code since 1986. The widespread changes affect many aspects of individual and business taxes, and your clients will be coming to you with a myriad of concerns and planning questions. Don’t get caught off guard. This 4-hour course will get you up-to-speed on all of the critical aspects of this law and prepare you to effectively advise both your individual and business clients.

Who should take this program?

Tax practitioners who need a refresher on significant tax changes resulting from the Tax Cuts and Jobs Act of 2017 that took effect in 2018

Major subjects

  • General review of the Section 199A 20% deduction
  • Depreciation changes taking effect in 2018
  • Changes relating to the standard deduction, itemized deductions subject to the 2% AGI floor, and credits
  • Extender provisions enacted in 2018 and retroactively applying to 2017
  • Tax rate changes for C corporations and individuals
  • New loss limitation rules applicable to individuals and pass-through entity owners
  • Survival of individual AMT, with increased exemptions; corporate AMT repeal
  • IRA recharacterization limits
  • Monumental changes to the treatment of alimony for both payor and payee
  • Section 1031 like-kind exchanges
  • 30% business interest limitation
  • New rules on business entertainment expenses, including meals
  • Doubling of estate and gift tax exemption to $22.36M for a married couple
  • Reformed child tax credit
  • Revised home mortgage interest deduction
  • Treatment of state and local taxes
  • New business credit for wages paid due to family and medical leave
  • Much more relating to the important 2017 legislation

Learning objective(s)

  • Understand the new tax rules resulting from the Tax Cuts and Jobs Act of 2017
  • Undertake a general review of the tax changes taking effect in 2018 that result from the Tax Cuts and Jobs Act of 2017

Notes:

Course code Code JSODTARU
Sponsor Surgent
NASBA ID#: 103212
Level Update
Format Self-Study (On-Demand)
Prerequisites Prereq. A basic understanding of the tax rules relating to individual income tax
Advance
prep
None