Course Detail

Hottest Tax Topics for 2022

Description:

Learn the hottest tax topics created by current tax legislation through this caseoriented, highly interactive course. Recognize the latest tax legislation and IRS guidance affecting your individual and business clients, and how to effectively use this information to benefit your client base. Understand how key tax provisions of the SECURE Act, CARES Act, Consolidated Appropriations Act (CAA), and the American Rescue Plan affect business entities and individual taxpayers. Use your knowledge of the hottest tax topics coming out of tax reform and continuing IRS guidance to revise current tax plans and implement new tax saving strategies for new and existing clients.

Highlights:

  • Legislative changes, and IRS guidance that impacts individuals and businesses
  • Section 199A Qualified Business Income deduction
  • Qualified research credit
  • Section 179 and bonus depreciation
  • Tax advantaged savings accounts
  • Tax benefits for education
  • Tax preparer penalties
  • Hot tax planning strategies for individuals and small businesses
  • Savings and retirement plan options
  • Estates and trusts
  • And much more!

Objectives:

When you complete this course you will be able to:

  • Identify how to advise clients on recent tax law changes, tax developments, and tax issues affected by societal and economic trends.
  • Recognize new tax planning opportunities as a result of the latest tax law legislation.

Prerequisites:

Basic understanding of individual and business taxation

Notes:

William F. Murphy is the owner of Murphy Financial Group, P.C. The firm emphasizes in providing tax consulting and financial planning services to corporations and professional practices in the State of Indiana. He also provides consultation services on tax and financial planning issues to various news and publishing organizations on current tax law changes occurring within federal and state government. Mr. Murphy is also associated with the law firm of Mallor Grodner LLP. The firm has offices located in both Indianapolis and Bloomington Indiana. He assists in providing tax, valuation and financial analysis services focusing in the areas of Family law and business transactions. In addition to being a Certified Public Accountant (CPA), Mr. Murphy holds the accreditation in business valuations as an Accredited in Business Valuation (ABV). Mr. Murphy also holds the designation of a Personal Financial Specialist (PFS) and Certified in Financial Forensics (CFF) awarded by the American Institute of Certified Public Accountants. Mr. Murphy also holds the designation of Certified Valuation Analyst (CVA) awarded by the National Association of Certified Valuation Analysis. In addition to these organizations, Bill has appeared as an expert witness in numerous cases involving marital and business disputes and has lectured extensively on valuation and tax issues for the National Business Institute, Western CPE, Indiana Continuing Legal Education Forum, Indiana CPA Society, American Institute of Certified Public Accountants, and the National Association of Certified Valuation Analysts, as well as for other local continuing educational programs. He is a member and former chairman of the Ethics Committee for the Indiana CPA Society. Bill also holds an Indiana Insurance License and is involved with several financial planning organizations. Prior to Bill’s association with the law firm of Mallor Grodner LLP he owned Murphy & Company, P.C. for over twenty five years (the predecessor of Murphy Financial Group P.C.). While at Murphy & Company, P.C. he was Director of Entrepreneurial and Tax Services and was the firm’s majority shareholder. The firm specialized in taxation, business valuations and small business development. Prior to establishing his own firm in 1982 Mr. Murphy worked with both local and national CPA firms. Bill is also a former director with the Indiana Attorney General’s Office while attending Indiana University law school.

Designed For:

Basic understanding of individual and business taxation

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