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Seminar Bundle: Business Entities and 1040 Individual Tax for 2020

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Description

Seminar Bundle

  • Business Entities: October 27, 2020, 8:00 a.m. – 4:30 p.m.

  • Individual 1040: November 17 & 18, 2020, 8:00 a.m. – 4:30 p.m.

These seminars will be virtual with a live instructor. For those that register prior to October 13, 2020, a hard copy of the manual will be mailed to the participant. For those who register after that date, an online version of the manual will be provided via ProView.


BUSINESS ENTITIES DESCRIPTION

LEARNING OBJECTIVES:
Analyze the FFCRA’s required paid leave and refundable payroll tax credits. Understand The CARES Act and relief for employers – the employee retention credit and the payroll tax deferral opportunities, and other payroll changes and IRC Sec. 163(j) business interest limitation for the CARES Act changes and new elections. Review the SECURE Act changes to many retirement plan rules and the Coronavirus-related retirement plan distributions for what employers need to know. Use helpful tips for running your practice in a pandemic as well as navigating the current issues with the IRS. Review the changes to the miscellaneous issues of TCJA, changes to related party rules and their impact on the employee retention credit, accounting method changes for accrual-basis taxpayers, the temporary rollback of the TCJA changes to the net operating loss rules, and technical changes to the depreciation rules and QIP (qualified improvement property).

Delivery method for this course will be Group Internet-Based. The program level is Basic and there is no advanced preparation needed. There are no prerequisites. Recommended credits are 8.0 CPE credits and the field of study is Taxes.

Gear Up attendee requirements: To receive CPE credit, you must login to the online session. Participants are required to actively participate throughout the online session by responding to attendance prompts when requested.

Gear Up is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. Gear Up is approved for Group Live, Group Internet Based, and QAS Self Study delivery methods.

ADDITIONAL CERTIFICATIONS

  • CFP Credits: 8.0
  • CTEC Credits: Federal Tax Law 8.0
  • IRS Enrolled Agent Credits: Federal Tax/Tax Related Matters 8.0
  • IRS Non-Credentialed Return Preparer Credits: Federal Tax 8.0

Gear Up is the CPE sponsor for this seminar. For more CPE information go to: https://checkpointlearning.thomsonreuters.com/CPEBrands/CPEGearUpCompliance.

PROGRAM DESCRIPTION:
The Gear Up Business Entities seminar is designed by tax practitioners for tax practitioners. It is the most comprehensive update and review of tax and economic issues facing small businesses. This course includes coverage of recent legislation, case law developments, and relevant notices, announcements, revenue rulings, and procedures to help the busy practitioner stay current. Coverage includes:

  • FFCRA’s required paid leave and refundable payroll tax credits.
  • The CARES Act and relief for employers – the employee retention credit and the payroll tax deferral opportunities, and other payroll changes.
  • Coronavirus-related retirement plan distributions – what employers need to know.
  • NOLs – a temporary rollback of the TCJA changes to the net operating loss rules.
  • IRC Sec. 163(j) business interest limitation – CARES Act changes and new elections.
  • Long-awaited technical changes to the depreciation rules and QIP (qualified improvement property).
  • Related party rules and their impact on employee retention credit.
  • Accounting method changes for accrual-basis taxpayers – the AFS income inclusion rule and new advanced payment guidance.
  • Rev. Proc. 2020-25 and QIP implementation.
  • The current news on the centralized partnership audit rules.
  • The SECURE Act makes significant changes to many retirement plan rules.
  • The pandemic created lots of tax issues including nexus, where did the employee really work.
  • Helpful tips for running your practice in a pandemic.
  • Retroactive changes to depreciation – are you ready.
  • The IRS has become even more difficult to navigate. We have the information to make it easier.
  • A review of the changes to the miscellaneous issues of TCJA

1040 INDIVIDUAL TAX 2020 DESCRIPTION

LEARNING OBJECTIVES:

By the end of this seminar, you should be able to: identify changes to the kiddie tax calculation; apply the rules of penalty assessment and abatement; evaluate changes to itemized deductions and determine the credits that are available to taxpayers including CORONA-19 related credits, and identify reporting required to “reconcile” the EIPs; recognize changes to education credits and deductions, and evaluate rules associated with debt discharge; apply the rules of retirement plan accumulation and distribution; determine the correct reporting of interest, dividends, and capital gains, and identify current IRS issues; implement sound strategies to safeguard confidential taxpayer information; identify the basics of reporting Schedule C self-employment income and expenses; analyze what tax years are retroactively exempt from the IRC Sec. 461(l) loss limitation rules for noncorporate taxpayers; identify the CARES Act’s impact on an individual taxpayer’s net operating loss (NOL), analyze the SBA’s PPP loan forgiveness parameters, and evaluate the CARES Act changes to qualified improvement property (QIP); calculate the qualified business income deduction (QBID) under IRC Sec. 199A; analyze impact of Tax Extender and Disaster Relief Act of 2019 on deductible personal casualty and theft loss deductions; and assess 2020 developments affecting high deductible health plans and HSA contributions.

Delivery Method for this course will be Group Internet-Based. The program level is Basic and there is no advanced preparation needed. There are no prerequisites. Recommended credits are 16.0 CPE credits and the field of study is Taxes.

Gear Up attendee requirements: To receive CPE credit, you must login to the online session. Participants are required to actively participate throughout the online session by responding to attendance prompts when requested.

Gear Up is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. Gear Up is approved for Group Live, Group Internet Based, and QAS Self Study delivery methods.

ADDITIONAL CERTIFICATIONS

  • CFP Credits: 16.0
  • CTEC Credits: Federal Tax Law 13.0; Federal Tax Law Update 3.0
  • IRS Enrolled Agent Credits: Federal Tax/Tax Related Matters 16.0
  • IRS Non-Credentialed Return Preparer Credits: Federal Tax 13.0; Federal Tax Update 3.0

PROGRAM DESCRIPTION:
This comprehensive course covers key tax issues for completing complicated individual returns including family return issues, taxpayers with investments, retirement income, the sole proprietor, and business and rental activity owners. Stay current with in-depth coverage of recent legislation, case law developments, and relevant notices, announcements, revenue rulings, and procedures. Speakers are all practicing preparers who share practical tips to help you get ready for this tax season. Coverage Includes:

  • Filing status, the taxability of alimony payments, and changes in the way the kiddie tax is calculated
  • The rules of penalty assessment and abatement
  • Changes to itemized deductions and determine the numerous credits that are available to taxpayers, both individual and small business including CORONA-19 related credits
  • Changes to the education credits and deductions and the rules associated with debt discharge
  • Taxation and planning problems associated with social security and Medicare
  • The rules of retirement plan accumulation and distribution
  • Retirement plan accumulation strategies•Reporting of interest, dividends, and capital gains
  • Tax practice and taxpayer strategies to safeguard confidential taxpayer information
  • IRS issues ranging from reorganization to procedural aspects of notices and responding to the IRS
  • The basics of reporting Schedule C self-employment income and expenses
  • What tax years are retroactively exempt from the IRC Sec. 461(l) loss limitation rules for non-corporate taxpayers
  • The CARES Act’s impact on an individual taxpayer’s net operating loss (NOL)
  • SBA’s PPP loan forgiveness parameters, including maximum owner-compensation replacement
  • Self-employment taxation exclusion applicable to rentals from real estate
  • The CARES Act changes to qualified improvement property (QIP)
  • 2020 proposed reliance regulations defining real property for purposes of IRC Sec. 1031 tax-free like-kind exchanges
  • The qualified business income deduction (QBID) under IRC Sec. 199A
  • Limitations on pass-through losses, including outside and at-risk basis, and passive activity loss limitations
  • Evaluate impact of Rev. Proc. 2020-23 (affecting partnerships subject to the centralized partnership audit regime rules) on partners and LLC members
  • Elections for grouping activities and real estate professionals
  • Impact of Tax Extender and Disaster Relief Act of 2019 on deductible personal casualty and theft loss deductions
  • 2020 developments for high deductible health plans and HSA contributions
  • Taxpayer outcomes in FBAR penalty cases

Gear Up: CPE Compliance
Gear Up Live Seminars and Gear Up Conferences are “group-live” or “group internet-based” delivery method. Unless otherwise stated in each course’s descriptive information, no other prerequisites or advanced preparation are required.

https://checkpointlearning.thomsonreuters.com/CPEBrands/CPEGearUpCompliance


If four (4) or more members of the same firm attend the above seminar a $25.00 savings per attendee will incur. YOUR GROUP MUST REGISTER BY MAIL TO RECEIVE THIS DISCOUNT. All attendees must be current members of I.A.A. prior to the above seminar date in order for the discount to take effect.

  • Registrations received after October 13, 2020 will add an additional $25.00
  • Registrations day of Seminar add an additional $25.00
  • No refunds will be issued after October 17, 2020

Note: No exceptions to the above three statements. A separate registration form must be filled out for each attendee

Instead of registering online, you can download a PDF version of this form and return it along with payment made payable to I.A.A.

Mail to:
Independent Association of Accountants of New York, Inc.
4043 Maple Rd. Box 100 A
Amherst, NY 14226

Additional information

Status

IAA Member, Non-Member

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