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Virtual Description and Objectives

Essential Tax Law for Individuals and Businesses 

Summary

Find out the latest tax law changes, guidance and forms that include real-life examples. Taught by a team of instructors using hands-on learning tools, this event provides detailed, in-depth information on the most recent legislation—including how to handle payments due to the Social Security Fairness Act, expiring provisions, digital tools to help clients stay compliant and IRS updates – leaving the tax professional feeling confident to serve clients. 

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The course covers issues a tax preparer will likely see in the 2026 tax season when preparing 2025 tax returns for both individuals and businesses. 

Objectives

Upon completion of this course, attendees will be able to:  

  • Analyze new tax laws and developments for individuals and businesses  

  • Determine the tax treatment of different sources of income  

  • Analyze the change in tax rules for certain credits and deductions   

  • Identify extended and expired tax provisions 

Day2

Trending Topics and Tax Strategies  

Summary

These topics will cover today’s current trends in tax preparation and planning, as well as common situations in which tax professionals need to be prepared to develop a tax strategy for their client. To help clarify the practical application of tax strategies, examples will be included that demonstrate how tax planning can be customized to meet the unique needs of different clients. 

Objectives

  • Identify the different methods for optimizing retirement savings  

  • Outline the pros and cons of converting a traditional IRA to a Roth IRA  

  • Summarize the tax implications of employing family members, including children and spouses  

  • Define self-rental and list tax planning opportunities  

  • Identify the default tax treatment of LLCs and the process for electing S corporation status  

  • Outline the various methods for funding an LLC and compensating the members  

  • Summarize how partnerships and S corporations handle contributions, loans and basis calculations  

  • Outline the options for adding owners to a partnership or a S corporation

Course details

Course Level: Update and Intermediate

Prerequisite: Fundamental knowledge of individual and business income tax

Advanced Preparation: None

Delivery Method: Group Internet-Based

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