Overview

16.0 Credits
IN-PERSON

Reinforce your understanding of frequently used principles and receive a wealth of tax-planning tips and strategies. Learn how to apply the latest changes when preparing federal income tax returns and advise clients on new developments and tax-saving ideas for individuals. Cover key tax return issues. Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.

Objectives

  • Apply the latest changes when preparing federal individual income tax returns.
  • Recall how to advise individual clients on new developments and tax-saving ideas.

Major Topics

  • New tax developments
  • Dividends, interest, and planning opportunities
  • Compensation issues, deferred plans, fringe benefits
  • Distributions from IRA’s and other qualified plans
  • Gross income exclusions
  • Passive losses
  • Vacation homes, home offices, bad debts
  • Travel and entertainment
  • Depreciation and amortization
  • Gain and loss recognition and basis rules
  • Property transactions—capital vs ordinary income
  • HSA’s, self-employed health insurance and other adjustments to income
  • Alternative minimum tax
  • Tax credits and estimated taxes
  • Continuing impact of the Affordable Care Act on individual taxpayers

Prerequisite

Knowledge of individual income taxation and Form 1040 preparation

Advanced Preparation

None

Sessions

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Wednesday, January 13, 2021

General Sessions
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