This highly informative course comprehensively covers all the latest tax law developments. The focus is on individual taxation and discussion of the planning opportunities practitioners need to understand to help clients respond effectively. You will come away from the course with the up-to-date knowledge to educate your individual tax clients and implement tax-saving ideas that will serve their ever-evolving needs. This course is continually updated to reflect enacted legislation. Please Note: Due to content overlap, it is recommended that this course NOT be taken together with BFTU.
Learning Objectives
- Understand strategies and tactics to use in light of new legislation
- Understand the most current guidance on retirement planning
- Understand how to nail down valuable deductions and other reductions to the tax base
Major Topics
- Comprehensive coverage of individual provisions of the One Big Beautiful Bill Act, including but not limited to:
- TCJA provisions made permanent
- New tip income deduction
- New overtime pay deduction
- New car loan interest deduction
- New temporary senior deduction
- Expanded SALT cap
- Trump Accounts
- Comprehensive coverage of business provisions of the One Big Beautiful Bill Act, including but not limited to:
- Bonus depreciation made permanent
- Increased §179 deduction
- Changes to §174 R&E expenditures
- Changes to §163(j)
- Form 1099/1099-K changes
- Qualified Small Business Stock Exclusion
- Digital assets and tax implications – understand Form 1099-DA for reporting digital asset transactions, along with
updated IRS guidance on cryptocurrencies and broker responsibilities - Artificial intelligence – discover how AI and generative tools are transforming the tax profession
- Timely coverage of breaking tax legislation
- Form 1099-K reporting requirements – understand the evolving IRS thresholds and rules for third-party payment
platforms - The Gig Economy – examine key tax implications for gig workers, including Independent Contractor vs. Employee
classification challenges, and employer reporting responsibilities - Real Estate professional requirements
Review of pertinent cases and rulings affecting taxpayers - 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
