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Don Farmer CPA PA More With This Vendor
Individuals having one or more Tax Seasons and a general understanding of individual, corporate and business income taxation who are involved in the preparation and/or review of individual, corporate and business income tax returns or who provide tax planning advice to individuals and businesses.
Don Farmer is the President of Don Farmer, CPA, PA.
Don was formerly a Tax Partner with Deloitte & Touche in charge of the tax practice for their five Western North Carolina offices.
In 1984, he resigned his position as Partner and created Don Farmer, CPA, PA in order to devote most of his time to writing and lecturing. He also consults with other CPAs across the country concerning tax matters.
Each year, Don authors and presents CPE programs across the United States. He has made presentations in over forty states and has received discussion leader awards from various states and from the AICPA. He also authors a tax newsletter “Don Farmer’s Federal Tax Newsletter”.
2021 is shaping up as another year for massive tax changes. First we had the Consolidated Appropriations Act of 2021 (CAA), next the President signed the American Rescue Plan Act of 2021 (ARP), and Congress is currently working on a massive budget reconciliation package. Farmer's 2021 Tax Update will focus on the provisions of these new laws affecting 2021 returns and 2021 tax planning, including planning with the proposed legislation currently before Congress as well as important IRS releases and court cases. Just some of the topics to be covered include:
- Maximizing 70% Employee Retention Credit (ERC) Including When Applying For PPP Loan Forgiveness And Discussion Of ERC Qualification For Majority Owner's Wages.
- Taking Advantage of Expanded Sick Leave and Family Leave Credits Including For Self-Employed Individuals.
- Effect On S Corp Stock Basis Of PPP Loans.
- Which Coronavirus Benefits Are Excludible From Income?
- Final Accounting Method Regs Effective For 2021 B Who Can Use Cash Method, Expense Inventory, etc., If Gross Receipts $26 Million or Less- Including Changing Accounting Methods.
- New QBI Regulations.
- When is a Restaurant Meal 100% Deductible?
- Major Increase In Number of Businesses Required To File 2021 Information, Partnership, and Corporate Returns Electronically.
- More Individuals Able To Claim Lifetime Learning Credit.
- Final Regs Say Some Parking Provided By Employer Not included In Employees Income.
- FSA Carryover Rules For 2021.
- New Refundable Child Tax Credits, Including Advance Payment of credits.
- New Refundable Dependent Care Credit.
- Revised Premium Tax Credit Provisions.
- 2021 Economic Impact Payments.
- 100% of AGI Limit For Charitable Contributions.
- Tax-Free Student Loan Forgiveness.
- Individuals Who Can Now Obtain An IP PIN.
The course material also includes:
- A checklist of expiring and/or recently expired tax provisions, and
- Practical planning ideas for businesses and individuals.