Event Registration - North Dakota CPA Society

With the increasing complexity and ever-changing nature of tax laws and issues, today’s accountant needs a one-day fast-paced update course focusing on the hottest federal income tax topics affecting individuals, businesses and their owners with an emphasis of newly enacted income tax legislation. Gain insights into newly enacted income tax legislation, issuance of income tax regulations, court cases, IRS notices, revenue procedures and private letter rulings affecting individuals and businesses.
 
Major subjects

• Federal income tax laws affecting individuals, corporations, partnerships, LLCs and LLPs
• Legislative and IRS updates, including the One Big Beautiful Bill Act (OBBB), IRS guidance, TCJA provisions expiring after 2025
• Tax changes and compliance tied to tax forms, schedules and major tax changes
• Business tax provisions including the 20% QBI deduction, NOL changes, business loss limitations, depreciation, accounting methods, retirement plans and fringe benefits and entertainment expenses
• Tax rates and calculations for individuals and businesses, including capital gains, self-employment tax, AMT and the 3.8% net investment income tax
• Individual tax provisions, including filing status, exemptions, deductions, income adjustments, and tax credits
• Updates to IRAs and new final RMD regulations
• IRS audit and compliance issues, including basis and at-risk limitations, passive activity losses, real estate professionals, and self-employment tax concerns

 
Learning objective(s)

• Explore the One Big Beautiful Bill Act (OBBB) and the expiration or extension of any TCJA provisions after 2025
• Understand federal income tax laws impacting individuals, C and S Corporations, partnerships, LLCs and LLPs 
• Identify newly enacted legislation, changes and IRS guidance affecting individual and business income tax returns
• Walk through major tax changes to corporations, partnerships and/or individuals
• Understand changes to the income tax forms and other related schedules
• Review business income tax provisions
• Brush up on the individual and business income tax rates
• Understand changes to IRAs and the NEW final required minimum distribution (RMD) regulations
• Review IRS audit areas such as basis and at-risk limitations for S shareholders and partners, passive activity losses and real estate professionals and self-employment taxes

Who should take this program? Tax accountants in public or private practice in need of a federal individual and business income tax update course
Prerequisites: Background in individual and business income tax law
Advance prep: None
Area of study: Taxation
Field(s) of study: Taxes - Technical (8.0)
Level: Update
Format: Group Internet Based
 
Instructor: J. Patrick Garverick, CPA, MT, CFP
J. Patrick (Pat) Garverick, CPA, MT, CFP, after receiving his Master of Taxation (MT) degree from Arizona State University in 1992, began operating his own tax and financial planning business. In 1993, Pat started writing, reviewing, and teaching tax and financial planning continuing professional education courses around the country. As an award-winning speaker and author, Pat's knowledge, expertise and high energy has made him one of the profession's highest rated speakers.