Course Description:  This course will introduce and review the tax impact on the legislation of tax provisions proposed and enacted during the first year of the Trump administration.

Learning Objectives: At the completion of this course the Tax Professional will be able to:

• Understand the Federal Income Tax Provisions that are included in the Trump administration tax bill and how it impacts your clients both for business and individual purposes
• The course will review the impact of tax cuts, tax brackets, standard deduction issues for single and married taxpayers and filing status changes
• The course will review business provisions and the incentives available for the small business client
• The course will review any changes made to the transfer taxes and filing requirements of Estates and Gifts

Instructor: Paul La Monaca, CPA, MST

Federal Tax Law Course Description: This course introduces the seasoned and relatively new tax professional to the Federal Income Tax and Self Employment Tax issues impacting a Sole-proprietorship. It discusses the updated information on audit statistics and data provided by the IRS from the Statistics of Income Bulletin (SOI) published quarterly by the IRS. It discusses the Commissioner’s Report on the Annual “Tax Gap” and the impact caused by the Sole-proprietors who understate their income and overstate their deductions and the impact on both income and self-employment taxes.

Federal Tax Update Course Description: The course also discusses the tax changes that impact to the Sole-proprietorship under the Trump administration’s tax legislation.

Federal Tax Law Learning Objectives: At the completion of this course the Tax Professional will be able to:

• Better prepare the Sole-Proprietorship Schedule C and Schedule SE
• Better prepare the client for being successful in an audit of a Schedule C
• Better understand the impact of the information that is reported on Schedule C and how the IRS gathers and uses the data in attempting to close the annual “Tax Gap”
• Understand the impact of 3^rd party reporting by, and on, the Sole-Proprietorship via Forms 1099 Misc and 1099-K
• Advise clients on the importance of proper record keeping responsibilities and the impact for the failure to properly do so
• Identify the issues of the §6692 20% penalty for substantial understatements of tax liability

Federal Tax Update Learning Objectives: At the completion of this course the Tax Professional will be able to:

• Understand the impact of any new legislation on the operation of a trade or business as a Sole-Proprietorship.

Instructor: Paul La Monaca, CPA, MST

Course Description: This course introduces the process of applying for non-profit status and the annual federal tax filing requirements.

Learning Objectives: At the completion of this course the Tax Professional will be able to:

• Understand the documents needed to apply for non-profit status
• Understand the schedules that accompany the Form 1023 and which is required to completed based on the type of entity
• Learn the various non-profit tax returns and the income limitations
• Understand the sections of the non-profit tax return and how to complete

Instructor: Nina Tross, MBA, EA