Event Description

This course covers the business-related tax changes included in the 2025 federal tax reform bill, which is expected to be law by the time this program runs. We’ll walk through what’s in the final legislation—or where things stand if any pieces are still pending. The focus is on how the new rules affect business returns, with practical guidance on applying the changes to real-world clients.

You’ll get clear updates on areas like bonus depreciation, interest expense limits, business loss rules, Section 199A, and entity-level taxation. We’ll also revisit important rules around basis, at-risk limits, and Schedules C, E, and F. Whether you work with sole proprietors, partnerships, or corporations, this course will help you prepare for 2025 returns with confidence and accuracy.

Designed For

CPAs, EAs, and other tax professionals

Objectives

At the end of this course, you will be able to:

• Apply current tax law changes to business income reporting
• Recognize how TCJA extensions and phaseouts affect 2025 filings
• Interpret new limits and thresholds under Sections 199A, 163(j), and 461(l)
• Identify changes affecting Schedules C, E, and F
• Determine tax planning opportunities for partnerships, S corps, and C corps
• Review updated rules for business use of home and property conversions
• Navigate carryovers, basis, and at-risk limits under revised law
• Address COVID-era relief (ERC, PPP, etc.) still affecting 2025 returns
• Understand tax treatment of loan defaults and bankruptcies
• Communicate key updates to clients and apply them to your practice

Major Subjects

Major Topics:

• 2025 tax reform: what’s final and what’s pending
• Section 199A and TCJA extension updates
• Sections 163(j), 461(l), 274, 179, and 382 changes
• Depreciation updates and phaseouts
• Treatment of Schedules C, E, and F under new law
• Taxation of partnerships, LLCs, S corps, and C corps
• Business use of home, conversions, and personal property
• Basis, at-risk limits, and passive activity rules
• COVID-related relief: what still applies in 2025
• Insolvency and debt-related tax issues