Small Business Guide to the Use of Accounting Methods After Tax Reform (AMET)

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Online registration for this course is now closed. Please contact the Member Service Center at
(800) 342-3197 if you wish to inquire about registering.

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Overview

2.0 Credits
ONLINE

The Tax Cuts and Jobs Act of 2017 liberalized the use of certain methods of accounting for qualified small businesses for 2018 and later years. This program is a two-hour intensive webinar on these provisions.

Objectives

  • Understand the new rules relating to the ability of an eligible small business to use a more favorable method(s) of accounting resulting from changes made by the Tax Cuts and Jobs Act of 2017

Major Topics

  • Eligibility for the cash method of accounting
  • Taxpayers no longer bound to follow the Uniform Capitalization Rules under Section 263A
  • Taxpayers eligible to use the completed contract method of accounting
  • How to change a method of accounting to take advantage of these new rules

Designed For

Tax practitioners who anticipate advising clients with respect to accounting method changes resulting from the Tax Cuts and Jobs Act of 2017

Prerequisite

A basic understanding of the tax rules relating to individual income tax

Advanced Preparation

None