Take a Deep Dive into the New CARES Act

 [Live 2-hour Webinar] Immediate Choices & Long Term Consequences: Thursday, April 9, at 9 Noon ETA: / 9 a.m. PT.

With Bradley Burnett

The rapid-fire explosion of new tax incentives, loan incentives and other cash cow infusions into America’s COVID-19 infested economy are hitting like a Texas tornado. Now you can gain an immediate sense of cashflow survival and related tax consequences, cut loose by the all-new CARES Act.

https://accountantsaccelerator.com/cpa-trendlines-bradley-burnett-4-9-2020/Thursday, April 9
9 a.m. PT / 10 a.m. MT / 11 a.m. CT / Noon ET
2 hours, 2 CPE

(Can't make the date? Register anyway, and get the instant replay with all the materials: the video, audio, and handouts. Sorry, no CPE for the replay.)

READ MORE →

The Tax Effects of Coronavirus [Live Webinar]

EXPANDED TO 2 HOURS, SAME LOW PRICE

Congress and the IRS Open the Floodgates and Little Droplets Have Hit the Fan.

With Bradley Burnett

As Coronavirus wreaks economic havoc, Congress and IRS have acted swiftly through the tax law in response. These relief efforts cut much deeper and wider than first meet the eye. For example, the House relief bill alone has 90 pages of technical corrections. Let us cut your learning curve.

This ad-free, no-fluff one-hour session brings information you can use immediately, with checklists and generous examples covering complications and contingencies not covered by others with Bradley Burnett's unique blend of wit, wisdom, and street smarts.

Wednesday, April 1
9 a.m. PT, 10 a.m. MT, 11 a.m. CT, 12 Noon ET
2 hours, 2 CPE

Register Here | Learn More

Early-Bird Discount $59 until March 30, then $79

READ MORE →

New Procedures for Forms 1065, and K-1 [Live 2-Hour Webinar]

IRS Throws Rocks at Hornets Nest.

With Bradley Burnett

Learn more

Wed., Jan 15
8 am PT, 9 am MT, 10 am CT, 11 am ET
2 hour, 2 CPE

On proposed 2019 Forms 1065, Schedules K-1 and in related instructions, IRS is launching massive new reporting requirements regarding:

  • negative tax basis capital accounts,
  • at-risk activities,
  • passive activities,
  • partner-level built-in gains
  • and many more.

Chaos has resulted and IRS has backed off some, but massive new disclosures remain.

In this action-packed two-hour program, you’ll learn:

  1. How partnerships (and S Corps) face the at-risk (and passive) activity reporting blues (and what to do about them)
  2. Negative tax basis capital account reporting – What must be computed and disclosed (and by when)
  3. The plethora of other new info required (built-in gains lying in wait, disregarded entity partners, new tiered partnership reporting and more)

We can’t wait to be a deer in the headlights in tax season.

We’ve got to get on this one now.

2019 Federal Tax Update [Live 3-Hour Webinar]

Final prep for tax season Thursday, Jan. 31.

With Bradley Burnett

A bomb has been dropped on Federal income taxation as we know it. Treasury has picked up part of the ball and run with it. Another tax season is immediately on the table.

Learn more

Thursday, Jan. 31
8 am PT, 9 am MT, 10 am CT, 11 am ET
3 hours, 3 CPE

How many of the questions below can you confidently answer...?

READ MORE →

Live 2-Hour Webinar: §168(k) Bonus Depreciation

Newly Unveiled Final Regulations. Unshackling Guidance, Compelling Choices.

With Bradley Burnett

Wednesday, Oct. 23
8 a.m. PT, 9 a.m. MT, 10 a.m.CT, 11 a.m. ET
(2 hours, 2 CPE)

Register Today  |  Learn More

Congress radically overhauled §168(k) in the Tax Cuts Jobs Act (TCJA) on 12/22/17. Treasury took a somewhat harsh stab at guidance via proposed regs on Aug. 8, 2018. More recently, IRS issued a Rev. Proc. granting late election relief and, then, wallah!!

Final regs and a new batch of proposed regs broke loose on Sept. 13, 2019. What new adventures await?

What you will learn:

READ MORE →

There’s a New Sheriff in Town… at the IRS

Rettig

Can He Turn the Gaming Tables Upside Down?

By Bradley Burnett

For the longest time, saving employment taxes by means of skimming cash from either a partnership or an S Corp seemed a bit like the lawless wild west with no sheriff, no posse and no hanging tree. Oh, don’t get me wrong. There were laws on the books. It’s just that the odds of getting caught were slim to none, save for the stray example IRS or an occasional court made of some renegade that got caught.

But, there’s a new sheriff in town. Charles Rettig, the newly minted IRS commissioner, is at the helm. Under his watch, IRS this spring launched a new partnership reasonable-compensation audit guide. IRS also convinced the Tax Court it does not any longer have jurisdiction to hear S Corp reasonable comp employment tax cases (8th Circuit agrees). Evidence is on the horizon IRS plans to exact a mighty pound of flesh in response.

READ MORE →

Tax Update: Changing Water to Wine

'Dealer Intent' converted to 'Investor Intent' midstream – Ta Da!!
And other pulling-rabbits-out-of-hats stories.

By Bradley Burnett
Federal Tax Update

There is a long-standing story about a man changing water to wine at a wedding. Not a bad deal. And, pretty economical at that. Recently, a Houston area real-estate developer pulled off pretty much the same thing. And saved about $1.9 million in income tax as a result.

Our “pulling-rabbits-out-of-a-hat” story begins long ago with an 883-acre oilfield southwest of Houston. A real estate developer bought it in 1998 with visions of subdividing into residential and commercial lots and making millions. For 10 years, Sugar Land Ranch Development, LLC (SLRD) cleaned up the oil field, built a levee to keep the nearby Brazos River under control and agreed to a development plan with the city of Sugar Land. But, no dividing into lots or construction ever took place.

So far, so good.

READ MORE →

TCJA UPDATE: Alimony Planning Gets the Wrecking Ball

Margarita, alimony or both?

By Bradley Burnett
The Bradley Burnett Federal Tax Update

Did you, in high school or college, ever wait until the night before to write an important paper? I did. Needless to say, it wasn’t my best effort.

Catch Bradley Burnett's next live 3-hour webinar on "How to Avoid Being Crushed by Income Tax Collection from a Partnership: The New Centralized Partnership Audit Rules," on Nov. 7. Register | Learn More

It’s a bit like that with Congress and the hurriedly written Tax Cuts Jobs Act. The lion’s share of its 1,050 pages was written or overhauled in its last 12 days. That’s too fast.

And, it’s a wrecking ball on our ability to interpret what much of the law means.  Or, like pulling the rug out from a house of cards.

One such hastily, shoddily drafted new provision targets the alimony deduction.

READ MORE →

The New Small-Business Loophole You Can Drive a Truck Through

Loophole Arrow Crashing Through Maze Avoid Paying Taxes CheatingCapitalize or expense? New IRS 'de minimus' rule opens the floodgates.

By Bradley Burnett
Tax Practice

The issue is as old as the hills in the federal tax law. At least more than a hundred years old and that’s longer than most of us have been around. Old as old can be, and yet the latest version of the issue packs about as much sizzle and punch as you can get. Step right up and get your tickets here. Wait, you don’t have to buy a ticket from anyone. You can put on your own show right here, right now and, for that matter, most anytime you like.

Catch Bradley Burnett's upcoming webinar, "2016 Federal Tax Update for Closely Held Businesses," June 21, 2016, 1-2:40 pm ET 

What are we talking about? Most taxpayers want to write off expenditures right now. On this year’s tax return. IRS wants to slow tax write-offs down – to deny a current deduction and make the taxpayer delay by forcing the spread of deductions over time. It’s like a Tom and Jerry cartoon. It’s one of the oldest shows on the books. And, it’s the same story over and over and over and over.

That’s what makes IRS’ latest move in the saga so surprising. It’s like now the scriptwriter lets the cat blow the mouse to smithereens over and over and over and over. The cat finally outsmarts the mouse, or something like that. And, it is the mouse who authored it all.    READ MORE →