Action taken by Congress in response to the recent pandemic provided many relief measures which, at first glance, appeared to potentially conflict with one another. Through recent legislation, taxpayers can benefit by coordinating multiple relief measures. In addition to this discussion, this 100-minute webinar discusses compensation issues; when monies paid to workers are wages and when they are not; illustrates tax-free and taxable fringe benefits; discusses the return and extension of excess business losses (EBLs); identifies changes to small business tax deductions; and reviews small business tax credits including the nearly forgotten FICA tip credit.
Fall Tax School webinars feature live audio and video instruction, plus a PowerPoint presentation. Each course includes a set of materials that accompany the course presentation.
The webinar will be recorded and everyone registered will receive access to the recording for playback. The recording allows you to get the information if you can’t attend the webinar live and/or if you want to review the presentation after the fact. Please note: we can only award CPE if you attend the live webinar and complete the engagement activities.
All times are approximate.
| 1:00 p.m. | Coordination of small business benefits |
| 1:45 p.m. | Taxable compensation issues |
| 1:50 p.m. | Break |
| 1:55 p.m. | EBLs and changes to small business tax deductions |
| 2:15 p.m. | Tax planning with the APTC (400% cliff is gone) |
| 2:30 p.m. | Small business tax credits – FICA tip credit and R&D credit |
| 2:45 p.m. | Q&A |
| 3:00 p.m. | Adjourn |
Tom O’Saben, EA, was Assistant Director, Professional Education and Outreach, at Tax School from 2019 to 2022, and an instructor for Tax School from 2005 to 2008 and 2011 to 2022. He has presented tax-related instruction for various organizations throughout the country since 2003. Tom has been a tax practitioner since 1991 and earned his bachelor’s degree from Southern Illinois University Edwardsville.
By attending this webinar, you will be able to:
| Organization | Credit Hours |
|---|---|
| CPE credits | Up to 2.0 based on attendance duration and completion of engagement activities |
| Field of Study (NASBA) | Taxes (2) |
| IRS Categories | Federal Tax Law Topics/Federal Tax Related Matters (2) |
| IL MCLE | Taxes (1.5) |
Please see our CPE FAQ for more information.
Delivery Method: Internet-Based Group
Program Level: Overview
Field of Study: Taxes
Prerequisite(s): Professional experience in preparing tax returns and an understanding of basic tax rules and regulations.
Advanced Preparation: Test your computer system and audio prior to webinar start time.
Materials: Will be available in your Tax School account one week prior to the webinar.
Please test your computer system before the webinar. Our Help page contains step-by-step instructions for how to test your system in advance, how to enter the webinar on the scheduled day, and even a video tour of the platform. Set yourself up for webinar success.