Summer Webinars – Get’Em While It’s HOT!!

NSTPInternal Revenue Service (IRS)

Summer Webinars - Get 'Em While It's HOT!!

Summer Webinars – Get 'em while it's HOT! Cool off with the best tax instruction out there from the comfort of your home, favorite cafe, or pool! To register or for more course details, please visit the NSTP website. BB. Introduction to and Overview of the Federal Income Tax Issues of a Subchapter S-Corporation from Start-Up and Operation to Liquidation, 4 CE August 23, 2019, 10:30 am- 2:00 pm PT Instructor: Paul La Monaca, CPA, MST This course introduces the Tax Professional who has never prepared a Subchapter S Corporation Form 1120S with the basic knowledge needed to understand the flow of the tax characteristics of the separately stated and non-separated stated items of income, deductions, losses and credits as well as understanding the importance of a proper election to be taxed as a pass through entity. To register or for more course details, please visit the NSTP website. FF. Managing Your Tax Business to Maximize Efficiencies, 4 CE August 27, 2019, 10:00 am- 2:00 pm PT Instructor: Nina Tross, MBA, EA This course will present information on topics ranging from client management, office operations, and time management to human resource issues. Please note: EAs will not receive any CPE for this … Read More

Summer Webinars – Get’Em While It’s HOT!!

NSTPInternal Revenue Service (IRS)

Summer Webinars - Get 'Em While It's HOT!!

Summer Webinars – Get 'em while it's HOT! Cool off with the best tax instruction out there from the comfort of your home, favorite cafe, or pool! LL. Choice of Business Tax Entity After the Federal Tax Changes in The Tax Cuts and Jobs Act, 4 CE August 15, 2019, 10:00 am-2:00 pm PT Instructor: Instructor: Nina Tross, MBA, EA This course will examine the various business tax entity choices and the federal tax changes which impact the business taxpayer resulting from the 2017 Tax Cuts and Jobs Act. To register or for more course details, please visit the NSTP website. MM. Things Learned During the 2018 Filing Season: Things We Thought We Knew, 3 CE August 16, 2019 10:00 am-12:30 pm PT Instructor: Paul La Monaca, CPA, MST At the completion of this course, participants will be alerted to some federal tax issues and surprises that they were unaware and other items that they thought they were reporting properly. The participants will be better equipped to address issues that they were not familiar or not comfortable v.ith prior to the presentation. To register or for more course details, please visit the NSTP website. QQ. §121 Principal Home Sale Exclusion Issues, 1 … Read More

Summer Webinars – Get ‘Em While It’s HOT!!

NSTPInternal Revenue Service (IRS), Webinars

Summer Webinars - Get 'Em While It's HOT!!

Summer Webinars – Get 'em while it's HOT! Cool off with the best tax instruction out there from the comfort of your home, favorite cafe, or pool! To register or for more course details, please visit the NSTP website. PP. Transactions Allowing the Exclusion and Deferral of Federal Income Tax, 2 CE August 2, 2019, 10 am-12:15 pm PT Instructor: Paul La Monaca, CPA, MST This course discusses the federal income tax provisions allowing taxpayers to enter into transactions which do not require gains to be included in gross income and other transactions which allow the deferral of gains and losses into future tax years To register or for more course details, please visit the NSTP website. GG. §1031 Like-Kind Exchanges After the Tax Cuts and Jobs Act, 1 CE August 2, 2019, 12:30 pm-1:45 pm PT Instructor: Paul La Monaca, CPA, MST This course introduces the tax professional to the revision of the rules provided under the Internal Revenue Code addressing §1031 Like-Kind Exchange transactions after the enactment of the Tax Cuts and Jobs Act for transactions in tax years beginning after December 31, 2017. To register or for more course details, please visit the NSTP website. II. Starting A Tax Exempt … Read More

NSTP Special Topics Workshops 2019

NSTPInternal Revenue Service (IRS), Napa Valley, California, NSTP Education, Special Topics Workshop, Williamsburg, Virginia

NSTP Special Topics Workshops 2019

NSTP Special Topics Workshops 2019 WILLIAMSBURG, VA       June 24 – 28, 2019 Classes end early so plan on enjoying the local area that is filled with history. Visit the historic triangle of Williamsburg, Yorktown and Jamestown. It’s revolutionary fun with something for everyone. Visit living-history museums, go biking and hiking, or join us with your family and friends on a special day tour and dinner at Busch Gardens and Water Country USA for fun and adventure. Click here for course details or more information. REGISTER TODAY! Williamsburg Courses:  New Course!!    Introduction to Taxpayer Representation with Ethics       June 24 & 25       14 CPE Ethics for the Tax Professional Including Circular 230 Issues        June 25      2 CPE §199A Safe Harbor for Rental Real Estate Activities        June 26      2 CPE Tax Cuts and Jobs Act: Things Learned during the 2019 Filing Season        June 26      4 CPE Partnership Challenges Before and After the Creation of §199A Qualified Business Income        June 27      5 CPE Practice Management: Enhancing your Tax Firm        June 28      4 CPE REGISTER TODAY! Click here for course details or more information. NAPA VALLEY, CA       July 15 – 17, 2019 Join us in the legendary, enchanting Napa Valley which is home to award-winning … Read More

Depreciation Methods for Businesses: a Review

NSTPDepreciation, Internal Revenue Service (IRS)

Depreciation Methods for Businesses: a Review

Depreciation Methods for Businesses: a Review It is important that businesses know the tax rules for deducting depreciation on real property, personal property, and intangible property. The proper choice of depreciation method can benefit eligible business taxpayers. The Tax Cuts and Jobs Act made changes to the depreciation regulations that affects, and usually benefits, many businesses. First off, businesses should remember they can generally depreciate tangible property, except land. Tangible property includes: Buildings Machinery Vehicles Furniture Equipment Here are some of the changes to business depreciation under tax reform: Taxpayers can immediately expense more. Businesses may choose to expense the cost of a property and deduct it in the year it is placed in service. The maximum deduction increased from $500,000 to $1 million. The phase-out limit increased from $2 million to $2.5 million. Taxpayers may include improvements made to nonresidential property. The improvements must have been made after the date the property was first placed in service. These improvements include: Changes to a building’s interior Roofs Heating and air conditioning systems Fire protection systems *Alarm and security systems Improvements that do not qualify: Enlargement of the building Service to elevators or escalators Internal framework of the building These changes … Read More

IRS Updates 2018 Schedule D Instructions

NSTPInternal Revenue Service (IRS)

IRS Updates 2018 Schedule D Instructions

IRS Updates 2018 Schedule D Instructions to Correct Error in Original Worksheet The IRS posted updated instructions for 2018 Schedule D (Form 1040), Capital Gains and Losses, that include a corrected worksheet. The revised worksheet corrects a rate error that may have calculated an incorrect tax liability for some investors. Anyone who downloaded the Schedule D instructions before May 16, 2019, should download the new instructions now. The IRS already provided the new worksheet to tax software providers, so returns filed after May 15 should properly reflect the corrected worksheet. The IRS is reviewing returns filed before May 16 that may have been affected by the error. The updated instructions are available here. Error in Original 2018 Schedule D Worksheet The original Schedule D worksheet included a calculation that did not work correctly with the new Tax Cuts and Jobs Act regular tax rates and brackets. The error affected only taxpayers who reported: 28%-rate gain on line 18, and/or 25%-rate gain on unrecaptured 1250 gain on line 19. The corrected worksheet lowers regular tax liability for most affected taxpayers. However, it increases regular tax for a small number of taxpayers. Taxpayers Affected by the Error The worksheet calculation error may … Read More