Take a closer look at TCJA in terms of its tax benefits, consequences and how these new rules apply to you.
What impact from the Tax Cuts and Job Act of 2018 (TCJA) will business owners and individuals face this year? TCJA imposes new tax rules on employer benefits, employee withholding and the earnings of C-Corporations, S-Corporations and pass-through business entities. Some changes will benefit taxpayers. Others will not.
This information takes a close look at TCJA in terms of its tax benefits, consequences and how these new rules apply to you. We will also examine a few 2019 tax planning opportunities that can still be implemented.
Learning Objectives:
- You will be able to discuss major tax changes that are affecting employers, business entities and individual tax filers.
- You will be able to identify ways to use certain TCJ provisions for the purpose of reducing taxable income.
- You will be able to review ways to plan against the loss of certain tax benefits.
- You will be able to recognize ways to transition tax rules into tax strategies.
Comparison of New and Old Income Tax Rates
• Individual Tax Rate Changes
• Business Tax Rate Changes
• Estate and Trust Tax Rate Changes
Changes Effecting Tax on Businesses,Trusts and Estates
• How to Apply New Section 1031 Like-Kind Exchange Rules
◦ The Hidden Silver Lining That Now Exists
• Navigating the Ins and Outs of Meals and Entertainment
• Application of the New Net Operating Loss Rules
◦ NOL Carryover Transitions and Adjustments
• New Section 199A Passthrough Income Deduction
◦ Summary and Application Overview
• Consequences and Benefits of Deductions, Exclusions and Credits
◦ Business Interest
◦ Alternative Minimum Tax
◦ Research Tax Credit
◦ Family Leave
◦ Depreciation
◦ Dividends
• The New Base Erosion and Anti-Abuse Tax (BEAT)
◦ What Taxpayers Are Affected
◦ How to Define Modified Taxable Income
◦ Types of Tax Adjustments
Changes Effecting Individual Taxpayers
• Summary of Itemized Deductions
◦ What's Gone, Limited and ReWritten
• Hidden Payroll Withholding Change
• Credits and Exemptions
• IRA – New Rule Adoption
• Owners of Rental Income Property
Planning Considerations for 2019
• Business Tax Restructuring
• Investor Planning to Unlock Deferred "Wash Loss Sales"
• Business Risk Protection Through Captive Insurance
Credit Information (Sponsored by Lorman Education Services):
- CLE
- CPE
- AIPB
- NASBA
- Enrolled Agents
For Detailed Credit Information page
click here
Only registered attendee will receive continuing education credit.
Faculty
E. Pete Lewis, MBA, CPA, EA, Lewis & Associates Tax Planning, Inc.
- Principal at Lewis & Associates Tax Planning, Inc., (LATP) in St. Charles, Illinois
- CPA and enrolled agent admitted to practice before the IRS
- Organized LATP in 2008 after spending 30 years of working in tax management positions for Chicago area law firms, public accounting firms and corporations
- Conducts live workshops and webinars on tax planning topics and IRS debt resolution strategies His practice concentrates on tax planning, tax controversy and IRS representation
- Adjunct professor at DePaul University’s School of New Learning and University of Phoenix, Chicago on-ground campus
- Can be contacted at 630-845-9664, plewis@lewisandassoc.com, or www.taxadvisorstcharles.com
(Not available outside the US)