In-Person Description and Objectives
Day 1: 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.
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:
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Analyze new tax laws and developments for individuals and businesses
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Determine the tax treatment of different sources of income
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Analyze the change in tax rules for certain credits and deductions
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Identify extended and expired tax provisions
Course details
Course Level: Update
Prerequisite: Fundamental knowledge of individual and business income tax
Advanced Preparation: None
Delivery Method: Group-Live
Day 2: Trending Topics and Tax Strategies
Summary
Tax planning is an essential part of the services a tax professional offers. This course covers common situations a tax preparer will need to fully understand to develop appropriate tax strategies for clients.
Planning opportunities for individuals include IRA contributions, Roth conversions, required minimum distributions (RMDs) and Social Security.
For small business owners, including gig workers, the course discusses planning opportunities using self-rental arrangements, depreciation and employing family members. An analysis of a two-member LLC explores entity classifications, partnership vs. S corporation taxation, funding methods, owner payments, fringe benefits and adding new members. It also examines the tax implications of changing an LLC’s tax classification.
Ideal for tax pros seeking actionable tax planning insights, this course equips tax professionals to serve their clients better.
Objectives
Upon completion of this course, attendees will be able to:
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Identify the different methods for optimizing retirement savings
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Outline the pros and cons of converting a traditional IRA to a Roth IRA
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Summarize the tax implications of employing family members, including children and spouses
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Define self-rental and list tax planning opportunities
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Identify the default tax treatment of LLCs and the process for electing S corporation status
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Outline the various methods for funding an LLC and compensating the members
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Summarize how partnerships and S corporations handle contributions, loans, and basis calculations
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Outline the options for adding owners to a partnership or a S corporation