Get the most out of your tax reductions and credits.
This topic is intended to provide you with a better understanding of tax planning and legal tax reduction strategies. It's criminal to take business tax deductions to which your company is not entitled, but it's a darn shame to miss those that are lawful. Endless tampering by Congress with tax law makes it essential to review your tax planning with a professional adviser to see what strategies may be worth at least exploring. Recent Internal Revenue Rulings and Court decisions illustrate that what is often considered a routine tax assumption, in fact, isn't. Busy taxpayers and their advisors are frequently prone to overlook common or perhaps not-so-common tax traps, resulting in adverse tax consequences to the business and/or its owners. This material will help you learn just how much confusion abounds relative to the taxability of certain types of income, how to legitimately avail yourselves of legitimate deductions and many other "clear as mud" issues. This information will give you solid ideas and answers to questions you may not have even realized you and your clients had and gain practical applications you can apply to your business.
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Credit
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Reduction of Income Tax
- Small Business Tax Law Changes
- Qualified Retirement Plans
- Accountable Plans
Business Tax Deductions
- Write Off Obsolete Equipment and Inventory
- Maximize the Section 199A QBI Deduction
- Bonus Depreciation and §179 Election
Year-End Planning
- Accelerate Bad Debts
- Accelerate Employee Bonuses
- Accelerate Expenses
- Defer Income or Gain
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Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on November 17, 2020.
Call 1-866-352-9540 for further credit information.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Credit
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
William M. Gerhardt, J.D., LL.M. Taxation
Gerhardt Law Firm, PLLC
- Tax consultant for Gerhardt Law Firm, PLLC
- Works with individual and entity taxpayers providing tax consulting and business advisory services in all facets of federal income taxation
- Represents clients in tax controversy and dispute resolution cases before the IRS and the U.S. Tax Court
- LL.M. degree in taxation, University of Florida College of Law; J.D. degree, St. Mary’s University School of Law; B.A. degree, Vanderbilt University
- Can be contacted at 210-239-1396 or [email protected]
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Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
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