Review current year developments and planning ideas affecting individual, corporate and business income taxation using a combination of humor and examples. We will emphasize tax developments that affect 2015 tax return preparation and 2015 tax planning for individuals, corporations, and non-corporate businesses. 

A 200+ page reference manual is included. This seminar is designed for CPAs with various levels of experience and will update you on 2015 tax developments emphasizing practical solutions to problems and tax planning opportunities

MAJOR SUBJECTS: 

- Recent tax legislation    

- New law provisions and other developments first effective in 2015, including The “employer mandate” provisions and the new mandatory employer reporting rules of the Affordable Care Act (ACA) and 2) The new ABLE Account and certified professional employer organization provisions of the ABLE Act;   

Important regulation provisions (including developments concerning the capitalization regulations), court cases, rulings, etc.; The status of tax provisions that expired at the end of 2014; 

Developments concerning the reimbursement of employees’ (including S corporation owner/employees) individual health insurance policy premiums and other ACA developments;  

 IRS audit issues and other practical problems affecting CPAs. The developments covered will be those important to practitioners and CPAs in industry. Tax planning opportunities will be emphasized. 

The material also includes: 

- A checklist of developments first effective in 2015.    

- A checklist of retroactive developments that may warrant amended returns.    

- A detailed planning section for businesses and individuals, including: traditional tax planning techniques; planning with 2015 developments; and year-end planning strategies.    

- Selected new or modified Federal tax forms for 2015.