The objective of this course is to address various tax issues related to GAAP including changes made by the One Big Beautiful Bill Act (OBBBA) of 2025.
Topics include an analysis of adjustments required to be made to deferred income tax assets and liabilities, including those assets related to net operating losses, accounting for the change from an S to a C corporation, GAAP accounting for bonus and Section 179 depreciation, changes made by OBBBA to the formula for the interest deduction limitation, presenting the tax benefit of an NOL carryover, GAAP for the research and experimental cost, accounting for the PTE tax and ERC, new income tax disclosures, and more.
Course No. F240
Format: Online pdf (111 pages). Printed book available.
Instructional Delivery Method: QAS Self-Study
Prerequisites: None
Advance Preparation: None
Level: Overview
CPE Credit: 4 hrs.
Field of Study: Accounting
Course Author: Steven Fustolo
Course expiration: You have one year from date of purchase to complete the course.
Course Revision Date: February 2026