Tax Cuts and Jobs Act

General Description:

This seminar will discuss the Tax Cuts and Jobs Act (TCJA), which made significant changes that will affect all individuals and many businesses, especially the new deduction for 20% of the qualified business income. Updated through late November 2018..

Learning Objective:

After completing this class the participant will be able to:

• Identify the changes for individuals under the TCJA.
• Explain the significant changes made to qualified improvement property .
• Explain the new deduction of 20% of qualified business income under §199A.
• Identify the changes made to methods of accounting which allow more businesses (even a business where inventory is a major income-producing factor) to use the cash method.
• Recognize the changes made to estate and gift taxation.
• Explain the changes made to the section 179 deduction and the additional types of property which will qualify for the section 179 deduction in 2018.
• Explain the effect of the TCJA on partnerships, C corporations, and S corporations.

Instructors:

Mark A. Vogel is a retired professor and director of the University of Denver Graduate Tax Program, where for 38 years he taught courses in individual, fiduciary, tax accounting, partnership, and corporate taxation. He is the author of Divorce Taxation Guide (John Wiley & Sons) and Individual Taxation (Shepards/McGraw-Hill). He received a J.D. and LL.M. in Taxation from the University of Denver College of Law and an undergraduate accounting degree from the University of Notre Dame. He is also a CPA licensed in Illinois.

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