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

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

IRS Invites Public Comment on Recommendations for 2019-2020 Priority Guidance Plan

NSTPInternal Revenue Service (IRS)

Public Comment Invited on Recommendations for 2019-2020 Priority Guidance Plan

The Treasury Department and the IRS invite public comment on recommendations for items that should be included on the 2019-2020 Priority Guidance Plan. The Treasury Department’s Office of Tax Policy and the IRS use the Priority Guidance Plan each year to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. The 2019-2020 Priority Guidance Plan will identify guidance projects that the Treasury Department and the IRS intend to actively work on as priorities during the period from July 1, 2019, through June 30, 2020. The Treasury Department and the IRS recognize the importance of public input in formulating a Priority Guidance Plan that focuses resources on guidance items that are most important to taxpayers and tax administration. Published guidance plays an important role in increasing voluntary compliance by helping to clarify ambiguous areas of the tax law. The published guidance process is most successful if the Treasury Department and the IRS have the benefit of the experience and knowledge of taxpayers and practitioners who must apply the rules implementing the tax laws. On December 22, 2017, P.L. 115-97, “An Act to provide for the reconciliation pursuant to … Read More

2019 EA Boot Camp New Orleans, LA

NSTPEnrolled Agent, Internal Revenue Service (IRS)

EA Boot Camp, New Orleans, LA

2019 EA Boot Camp, New Orleans, LA As an Enrolled Agent (EA) you can represent taxpayers before the Internal Revenue Service, command higher fees and be recognized as a respected tax professional. Energize your existing tax practice or hit the ground running as you start a new career by becoming an EA. By attending NSTP’s EA Boot Camp, you will master tax basics and be equipped to pass the Special Enrollment Exam (SEE). Our highly experienced instructors will present information to help you to master tax basics and successfully prepare for the SEE. Tax return preparers may earn up to five hours of Federal Tax continuing education credit for each of Parts 1 and 2, and two credit hours of Ethics for Part 3. The maximum amount of SEE prep program is 12 credit hours total. SEE Test Preparation CE is not available to EAs, or ERPAs. Full Course Rates May 20-24 Part 1 Rates May 20-21 Part 2 Rates May 22-24 Part 3 Rates May 21 Executive Member: $1349.00 Executive Member: $309.00 Executive Member: $899.00 Executive Member: $259.00 Full Member: $1449.00 Full Member: $329.00 Full Member: $949.00 Full Member Rate: $279.00 Non-Member: $1649.00 Non-Member Rate: $479.00 Non-Member: $1149.00 Non-Member … Read More