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The Tax Cuts and Jobs Act is the biggest change to the US tax code in over 30 years.  It is imperative that you learn about these tax law changes to plan for the 2018 tax year. This course discusses the impact of the new tax law on corporations, shareholders and employees, including:

  • Tax Rates
  • Deductions and Credits
  • Cost Recovery deductions, including immediate expensing and bonus depreciation

Learning Objectives

  • Discover how the new tax act affects the tax liability of corporations and individuals.
  • Identify tax minimization strategies regarding corporate and individual tax rates
  • Recognize how to minimize taxable income through the acquisition of business assets eligible for immediate expensing and bonus depreciation
  • Explore how foreign sourced income is taxed
  • Explore how the Qualified Business Income Deduction affects the choice of business entity decision.
  • Recognize the impact of the new tax law on the financial statement tax accrual.
  • Identify the new limits placed on business and individual deductions.
  • Discover the new tax credits available to businesses and individuals.

 

Last updated/reviewed: October 10, 2018

20 Reviews (102 ratings)Reviews

4
Anonymous Author
Overall good overview, but would have been helpful to have updated later in the year as additional guidance has been released. Also believe there is incorrect information in the section regarding qualified improvement property regarding depreciable life and bonus eligibility for property placed in service after 2017.
3
Member's Profile
In a few instances, the slides did not match what the instructor was saying. Made it confusing as to what was actually correct. I appreciate the information, I just want it to be accurate. I hope this feedback helps improve this and future courses.
4
Anonymous Author
This course was very helpful in enabling me to understand the changes to the tax law. This will enable me to teach some of the relevant aspects of the law to my client base.
3
Member's Profile
There were a few math errors, and spelling errors that were obvious (for the most part); however, they still deterred from the clarity of the delivered information.
3
Member's Profile
I think there should be separate courses for corporate taxation and individual. I found it hard to follow when the 2 were discussed together.
5
Member's Profile
This course provided a good overview of the 2018 tax law changes. Its focus on both commercial and personal impact was very helpful.
4
Anonymous Author
This was a really good overview of the changes that we should expect to see with tax law changes for individuals and corporations.
5
Member's Profile
Course is excellent to give you the basics of the new tax act. the course is good for all levels of tax practitoners.
4
Anonymous Author
Very in depth overview of TCJA. This really helped my understanding of which tax items have been modified or kept.
5
Anonymous Author
Great overview of the tax law changes! I hope you do another class once a lot of the guidance is laid out better!
4
Member's Profile
great overview of the TCJA for corporation and individuals - topics were on point relating to current clients
5
Member's Profile
Excellent comprehensive recap of the Tax Cuts and Jobs Act. Allowed me to better understand this act.
5
Member's Profile
The slides and glossary will prove to be a great reference guide on new Tax and Job Act.
3
Anonymous Author
The material is not up to date. The presentation can be better organized and executed.
5
Member's Profile
Very informative about new tax law. Presented in a complete and concise manner.
5
Anonymous Author
Instructor was very knowledgeable and gave a good summary of changes for 2018.
4
Member's Profile
Informative with real basic information.Informative with real basic information.
4
Member's Profile
Great instructor and examples to go over tax rules was very helpful
4
Member's Profile
Good overview for a financial person that is not a tax person
5
Member's Profile
One of the best courses I've taken on the new tax law.

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  1:28Introduction to Impact of Tax Cuts and Jobs Act on Corporations, Shareholders and Employees
Impact of Tax Cuts and Jobs Act
  14:48Changes to Corporate Taxation
  11:30Impact on Tax Accrual
  7:38Entertainment Expenses
  7:43Paid Family and Medical Leave Credit
  9:34Bonus Depreciation
  4:12Listed Property
  8:58Individual Taxation
  13:10Alternative Minimum Tax
Conclusion
  8:47Conclusion
CONTINUOUS PLAY
  1:27:49Impact of Tax Cuts and Jobs Act on Corporations, Shareholders and Employees
SUPPORTING MATERIALS
  PDFSlides: Impact of Tax Cuts and Jobs Act on Corporations, Shareholders & Employees
  PDFImpact of Tax Cuts and Jobs Act on Corporations, Shareholders & Employees Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM