2010 has been an active year for federal tax changes aimed at stimulating employment and the economy. The focus of the latest change in the tax code, the Small Business Jobs Act is to help small businesses obtain loans. Most of its $42 billion cost is related to the creation of a new $30 billion fund run by the Treasury Department that would give cheap capital to small banks.
When President Obama signed the latest Act on September 27, 2010, eight new tax incentives took effect immediately affecting more than a million businesses. Small business owners can now deduct more start up costs, take a bigger write off for investments in new equipment, deduct the entire cost of health insurance for themselves and their families from the Self-Employment Tax, and more.
When tax laws take effect immediately, practitioners need to be able to answer client questions and identify and solve client tax problems before tax season starts! CPE Link instructor Vern Hoven has already incorporated coverage of the new rules into his upcoming Federal Tax Update Webcast series and is ready to train practitioners on what the tax code changes will mean to their clients.
In his Federal Tax Update Webcasts, Hoven will discuss the $12 billion of tax incentives created through an increase and expansion of Section 179, an extension of bonus depreciation and a small list of other items like cell phones are no longer listed property. These Webcasts are a quick and economical way for tax practitioners to get up to speed on all the changes to the tax code. Attendees will receive a detailed, comprehensive manual and have access to the recorded webcast for three months to review the material again if needed.
Most practitioners take at least one tax update course every year to get ready for tax season, but this year it is especially important to get thoroughly versed in all the new code. CPE Link is offering an expanded series of dates for the Federal Tax Update Webcasts to accommodate all interested practitioners.