Beginning in 2018, most businesses with more than $25 million in average annual gross receipts must deal with a new limit on their interest expense deductions, now 30% of adjusted taxable income. This “simple” limitation took the IRS more than 250 pages to flesh out in proposed regulations. This course helps you understand this major new provision, and the pros and cons of electing out by eligible businesses.
Basic Course Information
Learning Objectives
Gain a better understanding of Section 163(j) and its application to business entities
Review recent legislation, proposed regulations and developments
Major Subjects
Broad definition of interest
Gross receipts test
Aggregation
Ordering rules for deductions and carryforwards
Rules for C corporations
Application to partnerships, S Corporations and their owners
Electing out by excepted trades or businesses (real estate, farming and regulated utility businesses)
Rev Proc 2018-59 Safe Harbor
Required use of ADS depreciation
Reporting on Form 8990
Course Materials
Important CPE Credit Information_READ BEFORE WEBCAST UPDATED
(0.47 MB)
Doug Van Der Aa, CPA, JD, is a lively and energetic speaker on the subject of taxes and ethics, and has extensive experience in leading discussions for conferences, seminars and webinars. He is a highly rated speaker and seminar leader for state CPA societies and other organizations throughout the country.
Van Der Aa has more than 25 years of experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. His practice concentrated on the tax needs of closely held businesses, with their related pass-through entities, complex individual returns, estates and trusts.
Van Der Aa taught for 10 years as an adjunct instructor and for one year as assistant professor of accounting and taxation for Grand Valley State University’s Seidman College of Business, where he taught in both the undergraduate and MST programs.
Additional Info
Basic Course Information
Prerequisites
Basic knowledge of tax preparation Advanced Preparation
None Designed For
CPAs and members in industry seeking to better understand the new interest expense deduction rules Yellow Book
No Course Developer
MICPA Original Recording Date
01/15/2020 Date Added to Catalog
08/28/2019
Additional Information
Complaint Resolution Policy
Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199). Official Registry Statement
Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org Instructional Delivery Method
Live Group Internet Based Course Registration Requirements
Online Registration Refund/Cancellation Policy
Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
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