Gear Up 1040 Tax, Annapolis, MD

EVENT DESCRIPTION

This comprehensive course covers key tax issues for completing complicated individual returns, including in-depth coverage of recent legislation, case law developments, and relevant notices, announcements, revenue rulings and procedures to help the busy practitioner stay current. Speakers are all practicing preparers who share practical tips to help you get ready for this tax season. We will discuss:
• Section 199A’s QBI deduction - final regulations, Revenue Procedure 2019-11 and the safe harbor provisions of Notice 2019-07 and planning considerations
• Social Security and Medicare
• Food and beverage deductions in the wake of the TCJA and Notice 2018-76
• Nonemployee compensation and new Form 1099-NEC (2020)
• The intersection of excess business losses, NOL’s and the QBI deduction
• Tax challenges facing special industries including shared economy businesses and marijuana dispensaries
• The unique tax incentives offered by Qualified Opportunity Funds
• The recently passed bill – Taxpayer’s First Act
• New luxury automobile depreciation amounts
• Changes to Form 1040 and Schedules for 2019