2017 Fall Tax School Webinar: Small Business Issues - University of Illinois Tax School
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Scroll down for webinar details! 2017 Fall Tax School Webinar: Small Business Issues

Note: The content covered in this live webinar is the same content that is taught at Fall Tax School.

As an issues webinar, this session addresses various common tax-related concerns of small business owners. In particular, this session focuses on profit vs. not-for-profit activities and comparing tax treatment when the activity does not rise to the level of profitable activity.

Other issues addressed in this webinar include:

  • The benefits of qualified small employer HRA plans and rules that became effective January 2017
  • The distinction between investors vs. traders and between landlords vs. real estate professionals
  • The rules for loss recapture on the sale of business assets
  • Correcting depreciation errors

Note: New for 2017, you will access all webinars and digital downloads by logging into your Tax School account on this website.

Other Tax School webinars

Fall Tax School webinars feature audio instruction, plus a powerpoint presentation. Each course includes a set of materials that accompany the course presentation.

Dates:

  • Monday, December 4, 2017 from 1:00PM to 2:30PM Central Time
  • Tuesday, January 9, 2018 from 10:00AM to 11:30AM Central Time

Registration Fee: $40.00

CPE Credits: Up to 1.5 (1.0 for IRS purposes and 1.25 for IL MCLE) based on attendance and completion of engagement activities.

CPE Filings Available: Illinois MCLE, CFP, IRS

Tom O'Saben Tom O'Saben has been an instructor for the Tax School since 2009. During that time, he has also been a presenter with the National Association of Tax Professionals, where he served as a Training Specialist developing curriculum, writing textbooks, and instructing at educational seminars. Tom's practice, established in 1991, provides tax services for approximately 1,000 clients. Tom earned his bachelor's degree from Southern Illinois University Edwardsville. He is an enrolled agent (EA).

We offer our webinars using the Webinato platform, which uses your web browser to deliver the content. The only thing that might need to be updated is the version of Flash you are running.

Please test your computer system using the instructions below before the webinar. If you fail to test your system in advance and experience problems, you may not be able to participate in the webinar. We cannot provide refunds because you experience technical problems the day of the webinar. When testing, use the computer you plan to use for participating in the webinar.

NOTE: We recommend using a desktop or laptop computer to attend the webinar rather than a tablet or mobile phone.

  • Make sure that the computer that you will use for the webinar is connected to the Internet with a broadband connection.
  • Make sure that you have functioning speakers or headset to take full advantage of the audio capabilities during the session (all instruction is provided vocally). If you don't want to use your computer speakers or headset, there is phone audio available. The dial-in number, Conference ID, and User ID for phone audio will be given to you once you enter the webinar session.

Testing Instructions

This test should take less than 5 minutes to complete.

On the computer you will be using for the webinar, go to the following web page:

www.webinato.com/conftest/

When the page loads, it will walk you through various tests. You will not need a webcam or microphone for the webinar.

If you encounter any problems testing your system, you can check the following resources:

Many of the pages above have a button that allows you to chat with Webinato support. Please contact Webinato through chat with all technical problems.

If your technical problems cannot be resolved, please call the Tax School office at 217-333-0502 for options regarding webinar attendance.

Note: New for 2017, you will access all webinars and digital downloads by logging into your Tax School account on this website.

Note: The content covered in this live webinar is the same content that is taught at Fall Tax School.

  1. Define business income

    1. Not-for-profit income
    2. Individual vs entity
  2. Investor versus trader

    1. Mark-to-market election
  3. Landlord versus real estate professional

    1. Active versus material participation
  4. Small business stock (IRC §§1202 and 1244)
  5. Small business deductions for HSAs, FSAs and HRAs
  6. Sale of business assets
  7. Correcting depreciation errors
  8. Like-kind exchanges

Learning Objectives: By attending this webinar, you will be able to:

  • Distinguish between the tax treatment of activities engaged in for profit compared to not-for-profit activities
  • Identify situations that allow individuals to deduct stock losses as ordinary income
  • Explain the benefits of QSE HRA plans to business owners
  • Calculate depreciation recapture on the sale of an asset
  • Show clients how to correct errors in calculating depreciation
CPE credits Up to 1.5 based on attendance
Field of Study (NASBA) Taxes (1.5)
IRS Categories Federal Tax (1)
CFP Taxation (1.5)
IL Insurance N/A
IL MCLE Taxation (1.25)

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.

Materials: Will be available in your Tax School account one week prior to the webinar.

Note: New for 2017, you will access all webinars and digital downloads by logging into your Tax School account on this website.

Last updated 10/10/2017 12:05:02 PM

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