The major topics covered in this class include:
- 2021/22 tax legislation, rules and cases related to individual and business taxpayers
- Tax rate schedule and other inflation adjusted items
- Changes in tax forms for individuals, S corporation, and partnerships
- Implications for self-employed taxpayers of various legislation
- Flow-through entities deduction (Section 199A) changes, including use of carryforward passive activity and 199A losses
- Partnership and S corporation developments
- Depreciation update: Section 179 and 168(k)
- Passive activity and hobby loss rules changes