Beginning in 2018, most businesses with over $25 million in average annual gross receipts must deal with a new limit on their interest expense deductions, now 30% of adjusted taxable income. This “simple” limitation took the IRS over 250 pages to flesh out in proposed regulations. This course will help you understand this major new provision, and the pros and cons of electing out.
Upon completion of this course, you will be able to * Gain a better understanding of Section 163(j) and its application to business entities * Review recent legislation, proposed regulations, and developments
* Broad definition of interest * Gross receipts test * Aggregation * Ordering rules for deductions and carryforwards * Rules for C Corporations * Application to partnerships, S Corporations, and their owners * Electing out by excepted trades or businesses (real estate, farming, and regulated utility businesses) * Rev Proc 2018-59 Safe Harbor * Required use of ADS depreciation * Reporting on Form 8990
Who Should Attend
CPAs and members in industry seeking to better understand the new interest expense deduction rules
Basic knowledge of tax preparation
Additional Event Information
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at email@example.com, and a team member will contact you shortly.
If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at firstname.lastname@example.org.
*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via phone or email 30 minutes prior to the start of a live online program.
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