This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies. Read our privacy policy to learn more.

Technical

1040 Tax Return Workshop and Video Course Logo aicpa

  Wendy Kravit, CPA, MBA |   $209.00 - 439.00 |   CPE: 25.0-47.0 |   AICPA |   May 2020 |   Taxes |   AICPA Store
Who Will Benefit?
  • CPAs working with clients or employers requiring up-to-date expertise in individual income taxation for the current tax season.
Key Topics
  • New Tax Developments
  • The Tax Cuts and Jobs Act of 2017
  • Dividends, interest, and planning opportunities
  • Compensation issues, deferred plans, fringe benefits
  • Distributions from IRAâ?™s and other qualified plans
  • Gross income exclusions
  • Passive losses and hobby activity rules
  • Vacation homes, home offices, bad debts
  • Travel and entertainment
  • Depreciation and Amortization
  • Gain and loss recognition and basis rules
  • Property transactions - capital gain vs ordinary income
  • Self-employed health insurance, alimony, and other adjustments to income
  • Itemized Deductions
  • Tax computations, health insurance and other tax credits
Learning Objectives
  • Determine the filing status of individual taxpayers.
  • Recognize who can be claimed as a dependent by a taxpayer.
  • Identify when Social Security benefits become taxable.
  • Determine the amounts allowable for deducting travel and transportation expenses, meal expenses, and entertainment expenses.
  • Identify deductible student loan interest and what qualifies for the higher education tuition deduction.
  • Recognize and apply rules related to health savings accounts.
  • Determine the proper reporting of tip income, employee stock options, nonqualified deferred compensation, fringe benefits.
  • Identify all issues related to hobby activities.
  • Recognize the tax implications of having rental real estate classified as an active or passive activity.
  • Determine the proper tax treatment for fringe benefits, retirement plan distributions, and foreign earned income.
  • Identify and apply the rules for depreciation and amortization deductions.
  • Calculate gains and losses from property transactions.
  • Distinguish between different recapture provisions.

Apply the latest tax law changes.

The Tax Cuts and Jobs Act, passed by Congress and signed by President Trump, was the biggest overhaul of the Internal Revenue Code since 1986.

The Act created many unhappy surprises for individual taxpayers accustomed to income tax refunds. In addition, there have been a flurry of legislative changes as Congress tries to soften the impact of Covid 19 and other world events affecting taxpayers and the U.S. Economy.

This comprehensive CPE self-study course provides the technical knowledge tax professionals need to service their individual and business tax clients. Learn how to apply the latest tax law changes when preparing federal income tax returns, and advise clients on new developments and tax-saving ideas for individuals.

Reinforce your understanding.

The video portion covers:

  • Insight from nationally recognized tax experts
  • Frequently used principles
  • A wealth of tax-planning tips and strategies

Make sure you are armed with the latest tax reform and legislative guidance to better serve your clients in the constantly changing landscape of Individual Income Taxation.

Topics covered:
  • Tax: Technical: Individual income taxation : Reporting & filing requirements, Foundational
  • Tax: Technical: Individual income taxation : Income, Foundational
  • Tax: Technical: Individual income taxation : Deductions, Foundational
  • Tax: Technical: Individual income taxation : Tax computation, Foundational
  • Tax: Technical: Individual income taxation : Credits, Foundational

Comments/Reflections