Individual and Business Federal Tax Update with Blaise Bender, J.D., CPA

4601 N. 19th Street,Waco TX 76708

11 January, 2022

Description

Attend one or both days to prepare for the upcoming tax season. Blaise will discuss current tax law updates and planning opportunities. Individual Tax Update – January 11, 2022 This seminar will cover Legislative, judicial, and IRS Regulations and Procedures of the past year as it affects individual taxpayers. The session will include proposed tax legislation by the Biden administration impacting individuals, including levels of taxable income subject to tax rates, income tax rates, capital gain treatment, new limits on like-kind exchanges, and expansion of tax credits. The seminar shall also include recently issued regulations as a result of Covid – 19. The session will also include a discussion of proposed estate and gift tax adjustments by the administration. The seminar is designed to not only provide information with respect to the upcoming tax season but also assist CPAs in tax planning for their clients. Among the areas covered are the following: New Due Diligence Reporting RequirementsItems of Gross Income and Revised Exclusions from Gross IncomeUpdates on Passive Activity Loss Issues and At-Risk RulesPassthrough Basis Reporting ProposalsUpdates on Adjustments to Gross IncomeUpdate on Retirement PlansRevised Standard Deduction and Itemized Deduction ProvisionsRevised Qualified Business Income DeductionProposed Individual Tax Credits Including Child Tax Credit, Earned Income Credit, Energy Credits2021 Recovery Rebate CreditProposed Changes to The Estate and Gift TaxationBusiness Tax Update – January 12, 2022 This seminar will cover Legislative, Judicial, and IRS Guidance of the past year as it pertains to Sole Proprietorships, C Corporations, S Corporations, Partnerships, and LLCs. The Seminar shall also include business tax provisions and legislation proposed by the Biden Administration. Recently issued Regulations and IRS Procedures, along with advice memorandums, pertaining to Covid – 19 will also be discussed. The Seminar is designed to assist CPAs in business tax planning matters. The session will also include a discussion of proposed IRS administrative changes designed to create greater efficiency and response to our clients. The seminar will conclude with the Texas Tax Update. Among the topics discussed include the following: Aggressive Hobby Loss Examinations Involving Texas Farm and Ranch BusinessesRecent Developments on General Business Deductions, including revised rules regarding the deductibility of mealsRevised Operating Loss ProvisionsC Corporation Update and Proposed ChangesBusiness Tax Credit UpdateS Corporation Update including Basis Issues and AAAPartnership and LLC Update including Recourse and Nonrecourse Debt AllocationsEmployment Tax Update and Covid – 19Nonprofit Tax UpdateIRS Procedural Matters; Current and ProposedTexas Tax UpdateLEARNING OBJECTIVES: Understand changes in tax preparation for the upcoming tax season as they pertain to clients.Understand planning opportunities associated with the upcoming tax filing season.Understand preparer issues associated with the upcoming tax filing season.HANDOUTS: E-Handouts will be sent via email at least one day prior to the course. We will send them out as soon as they are available. DESIGNED FOR: CPAs and staff who plan and prepare tax returns. PREREQUISITES: There are no prerequisites. ADVANCED PREPARATION: No advanced preparation is necessary. DELIVERY METHOD: In-person and Group live Zoom webinar. You will be able to ask questions via Zoom Chat and email. Blaise will try and answer questions throughout the day as time allows. All of the questions will be compiled, answered, and emailed out to the participants. Clever Guys Media LLC is facilitating the group live Zoom webinar. Zoom participants will need to register by noon on Monday, January 10, 2022. For the Zoom participants, there will be pop-up poll questions throughout the seminar to monitor your attendance and meet the TSBPA attendance requirements. Each person will need to answer the questions. Please make sure your pop-up blocker will allow for the pop-up poll questions. FIELD OF STUDY: Taxation (Technical) Our Annual Election of Chapter officers will be at the conclusion of lunch on Tuesday, January 11, 2022. Our new year begins June 1, 2022. During the seminar breaks, current officers and volunteers will be available to give you more information about the Young Professionals, CPE, Membership, and PAC Committees. Make it your New Year's Resolution to become involved! Invite your colleagues and friends! We can invoice your office or you individually, and you can pay by check. Please make your reservations by Friday, December 10, 2021, at 12 pm by emailing [email protected] or [email protected]. This will enable us to correctly estimate the headcount for McLennan Community College. If we have not received your registration and check by Friday, January 7, please email and/or call our office. We will continue to take in-person registrations through the start of each day’s seminar. For questions, please contact Rebekah North at 254-732-3026 office, 254-715-8178 cell or [email protected] or [email protected] NonProfit Organization for CPAs and a chapter of the Texas Society of CPAs