New
20WC-1510: Timing Rules for Income Tax Compliance and Planning (Webinar)
If you have questions about this event, please call us at 952-831-2707.
Monday, January 25, 2021
10:30am - 6:00pm Central Time
8 CPE (8 technical)
Quickly master key tax accounting rules and concepts. Discover favorable methods for small businesses. How to select and adopt a method of accounting. Plus, review method vs. error, timing rules for income and expenses and inventory accounting. Examples and exercises are used throughout the course to illustrate relevant Internal Revenue Code, regulations, IRS rulings and court cases. In addition, review tax planning ideas and its relevance to the income tax provision for financial accounting.Formerly titled: Tax Accounting Methods
Major subjects
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What is a method of accounting, and why is the answer important?
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How to select and adopt a method of accounting
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When is income to be reported for both cash and accrual method businesses?
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When are expenses to be reported for both cash and accrual method businesses?
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How and when to account for inventory
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How and when to change a method of accounting
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Avoiding accounting method problems
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Identifying planning opportunities
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Relevance to income tax provision for financial reporting
Learning objective(s)
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Understand the importance of tax accounting methods in financial reporting, tax compliance and planning.
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Understand how to identify "small businesses" including application of the rules on tax shelters and aggregation of gross receipts, and the favorable methods available to small businesses.
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Determine when both cash and accrual method taxpayers report income and claim deductions.
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Distinguish between method changes, changes in facts and errors; learn how to make a method change.
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Understand the special rules for inventory and method changes.
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Identify when interest capitalization and long-term contract accounting may apply.
Who should take this program?
CPAs, attorneys and tax professionals.
Fees
Our records indicate
you are a
nonmember.
If you register, you will be charged
$400.00
(Standard Nonmember Fee).
Members: Please
log in
to receive member fee.
|
Standard Member Fee |
$295.00
|
 Standard Nonmember Fee |
$400.00
|
