Beach Retreat: Business Income Tax Update: Navigating the Current Tax Landscape

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Instructor

Arthur
Werner

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Arthur Werner, J.D., M.S.

Bio

Arthur Joseph Werner, J.D., M.S. (Taxation)

Arthur Joseph Werner, JD, MS (Taxation), is the president and is a shareholder in the lecture firm of Werner-Rocca Seminars, Ltd. Mr. Werner’s lecture topic specialties include business, tax, financial and estate planning for high net worth individuals.

In addition, Mr. Werner is a former adjunct professor of taxation in the Master of Science in Taxation program at the Philadelphia University.

Mr. Werner received his B.S. in Accounting and his M.S. in Taxation from Widener University. He holds a J.D. in Law from the Delaware Law School. Mr. Werner lectures extensively in the areas of Estate Planning, Financial Planning, and Estate and Gift Taxation to Certified Public Accountants and Financial Planners and has presented more than 3000 eight-hour seminars over the past twenty-five years as well as numerous webinars and video presentations. Mr. Werner has been rated as having the highest speaker knowledge in his home state of Pennsylvania by the Pennsylvania Institute of Certified Public Accountants, was awarded the AICPA Outstanding Discussion Leader Award in the State of Nevada, the Florida Institute of CPAs Outstanding Discussion Leader Award, and the South Carolina Association of CPAs Outstanding Discussion Leader Award.

Stay at the forefront of business income taxation with this essential course tailored for tax practitioners seeking to enhance their expertise. This course offers an in-depth review of the intricacies surrounding business income taxation, focusing on the latest developments for the current tax year. Dive into recent changes and updates within the tax code, providing you

with a comprehensive understanding of the evolving tax landscape. Equip yourself to effectively navigate new regulations, guidelines, and strategies while assisting clients in optimizing their business income tax planning.

Learning Objectives

At the end of this course, you will be able to:

Identify potential challenges posed by regulatory changes and implementing effective solutions.
Identify recent changes and updates in business income taxation to ensure accurate and compliant tax filings.
Discuss tax implications of major legislative acts such as the CARES, HEROES, and HEALS acts on different aspects of business income taxation.
Identify potential risks and challenges in business income taxation, considering the interaction of Code Section 461(l) with Section 382 and carryover rules.

Major Topics

Thorough exploration of essential IRC Sections pertinent to business income taxation.
Comprehensive assessment of recent changes and updates in business taxation.
Examination of business changes arising from significant legislative updates.
Analysis of pertinent tax code sections, including Section 199A.
Addressing tax considerations for various business schedules (C, F, and E).
Navigating partnership, corporation, and LLC taxation issues.
Unpacking the complexities of COVID-19-related subsidies and their tax implications.
Interaction of Code Section 461(l) with Section 382 and carryover rules.
Understanding defaulted loans, bankruptcy implications, and their tax treatment.
Grasping the impact of the CARES, HEROES, and HEALS acts on business income taxation.
Special rules governing the business use of a home.
Reporting requirements for converting personal use property to business use.