In this continually revised course, tax advisors will be fully updated on the most recent enacted legislation and IRS guidance, as well as major trends on the horizon with a view toward planning considerations. This update course is designed for all practitioners, both those working in public accounting as well as those in private industry, who need the latest information on tax changes. Please Note: Due to content overlap, it is recommended that this course NOT be taken together with BITU.
Major Topics
-Comprehensive coverage of the One Big Beautiful Bill Act
-Review of key components of President Trump’s tax bill, including a tip income exemption, overtime pay relief, Social Security tax exemption, auto loan interest deductibility, SALT deduction modifications, a lower corporate taxrate, restoration of 100% bonus depreciation, immediate R&D expensing, and permanent extension of select TCJ Aprovisions
-Tariff policy and implementation
-Digital assets and tax implications – understand the new Form 1099-DA
-Artificial intelligence
-Form 1099-K reporting requirements
-Sale of Passthrough Entity Interests and Net Investment Income Tax
-The Gig Economy
-Timely coverage of breaking tax legislation
-Practice aids, including all the numbers applicable for the current year — inflation-adjusted amounts, mileage rates,retirement contributions, and more
-Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas
Required Knowledge: Experience with individual and business clients
Advanced Preparation: None
Who Should Attend: Accounting and Finance Professionals who need to know the latest tax law changes in all areas of practice, whether newly licensed or a seasoned professional