2024 Business Losses: Going Backward and Forward
Overview
The TCJA made turning business losses into tax refunds far more difficult. The CARES Act suspended and modified many of these changes. This course will address the revised rules for deducting business losses and discuss planning ideas and potential pitfalls.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.
Highlights
- Recent legislative developments for deducting business losses
- TCJA net operating losses rules of §461(l)
- §163(j) Business Interest Expense
- Limitations of deducting losses and basis
- What is the “quickie” refund; Section 465
- At-Risk amount
- Section 469 Passive Activity Loss rules
Prerequisites
Basic working knowledge of business taxation
Designed For
CPAs and members working in industry seeking a broader understanding of calculating and reporting business losses
Objectives
- Apply recent legislative developments and deducting business losses and amending returns
- Identify planning ideas and potential pitfalls
Preparation
None
Notice
This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).
Leader(s):
Leader Bios
Doug Van Der Aa, Federal Tax Workshops Inc
Doug has been a discussion leader for Federal Tax Workshops, Inc., for the past 11 years. He is a lively and energetic speaker – especially on the subject of taxes and ethics, and has extensive experience in leading discussions in conferences, seminars and webinars. He is a regular and highly rated speaker and seminar leader for CPA associations other organizations throughout the country. Doug has over 25 years of professional experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. As a CPA, Doug’s practice concentrated on the tax needs of closely held businesses, with their related pass-through entities, complex individual returns, estates and trusts. Doug 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. He earned his Bachelor of Arts degree with a major in accounting from Dordt College and his Juris Doctor from the University of Illinois College of Law.
Non-Member Price $109.00
Member Price $79.00