Surgent's Review and Analysis of Crucial OBBBA Changes

Overview

Accounting and finance practitioners are still grappling with the many changes OBBBA has made to the tax laws, many of which will impact tax filings. This program is an introduction to and review of some of these critical changes and their impact on taxpayers.

Accounting and finance practitioners will gain a better understanding of this very complex set of new tax rules. Practitioners will grasp what is new and what is a continuance of prior rules to develop deeper insights into the many changes that the OBBBA made to the law.

If you still feel you need to learn more about how OBBBA works, this program is for you. We have assembled a two-hour review and analysis of what we consider the most important changes from OBBBA that impact client transactions.

To the extent that Treasury has provided guidance relating to these new OBBBA changes, we will discuss that guidance. Where guidance is lacking, we will point out areas that require future attention from Treasury.

Highlights

• Changes to the standard deduction
• Senior deduction
• Deduction for auto loan interest
• Estate tax changes and the portability option
• Tax consequences associated with investing in revised opportunity zones
• Full expensing of domestic R&E
• Individual and corporate charitable contributions
• Wagering losses
• Student loan discharges
• Taking advantage of scholarship granting organizations (SGOs)
• Dependent care assistance program
• Other crucial OBBBA provisions

Prerequisites

None

Designed For

Accounting and finance professionals who wish to be informed for their own knowledge or who will be advising clients regarding the tax changes brought about by the OBBBA

Objectives

• Understand the many new tax changes taking place as a result of OBBBA
• Advise clients with regard to planning strategies they could profitably adopt in light of the OBBBA changes

Preparation

None