Virtual
Timing Rules for Income Tax Compliance and Planning—Part 1 2024
Date: Dec. 4, 2024
Time: 8 – 11:30 a.m. PT
Overview
Master the critical tax accounting method rules and concepts. Timing rules are crucial knowledge for computing taxable income, tax planning and accounting for income tax. Discover favorable methods for small businesses. Learn how to select and adopt a method of accounting. Plus, review method versus error, timing rules for income and expenses, and inventory accounting. Examples and exercises are used throughout the course to illustrate relevant Internal Revenue Code, regulations, IRS rulings and court cases. Tax planning ideas and the relevance of tax timing rules to the income tax provision for financial accounting are covered. Formerly titled: Tax Accounting Methods.
Be sure to register for both courses in this series:
Product Code
1000002722-125058
Credit Type
CPE: 4CPE-Technical: 4CTEC-TX: 4Accessibility
Closed Captioning Available
Intended Audience
CPAs, attorneys and tax professionals.
NASBA Field of Study
Taxes
Level of Difficulty
Basic
Prerequisites
None.
Advance Preparation
None
Learning Objectives
Major Subjects
- Tax accounting methods introduction
- What is a method and why is the answer important
- Key IRC provisions
- How to select and adopt a method of accounting
- Basics of change in method of accounting
- Changes made by the Tax Cuts and Jobs Act (PL 115-97; 12/22/17)
- How and when to change a method of accounting
- TCJA example for small business, with Form 3115
- Timing of income – cash and accrual method taxpayers
Faculty
Additional Details
This is a pre-recorded broadcast. The Instructor will be available to answer questions via the chat feature.