Overview:
Explore the full gamut of tax provisions, regulations, rulings and court cases affecting current year tax preparation and subsequent years’ tax planning for individuals. In this targeted program, you will:
- Learn about the tax impacts of recent legislative actions
- Receive an update on pending tax legislation and other developments
- Gain practical knowledge of how to fill out tax forms related to all the issues discussed
Objective:
To provide tax professionals with an update on important legislative, regulatory and judicial actions impacting individual taxpayers. You’ll leave with a thorough understanding of the current laws, regulations and a host of planning strategies to help you and your clients minimize tax exposure now and in the future.
Emphasis:
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Individual Tax Brackets, Standard Deductions
– Personal exemptions -
Itemized Deductions
– Medical deduction changes
– Mortgage interest
– SALT
– Charitable contributions
– Casualty and theft -
Mortgage & Other Interest Expense
– Qualified residence
– Investment
– Business
– Higher education loan
– Passive activity
– Personal -
Capital Gains & Carried Interest
– Qualified dividend tax rates
– Unrecaptured §1250 gain
– Form 8949—Sales and Other Dispositions of Capital Assets -
Adjustments to Income & Income Exclusions
– Alimony and separate maintenance agreements
– Moving expense reimbursement
– Qualified retirement plans
– Principal residence
– Tuition - Child Tax Credit & Kiddie Tax
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Health insurance & 529 College Savings Plans
– Affordable Care Act -
199A Qualified Business Deduction
– Qualified trades and businesses
– Taxable income limitation
– Qualifying property
– Carryover of losses
– Type of entity (sole proprietor, S Corp, C Corp)
– Employees and contractors
– Retirement contributions - Estates, Gift Tax & GST Tax
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Other Changes
– Contesting IRS levy changes
– Additional due diligence
– Extenders
– SECURE Act - Residential Rental Property
- Sale of a Principal Residence
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Passive Loss Rules
– Suspended losses
– Special allowance -
Retirement Plans & Stock Options
– Taxability of qualified and nonqualified plans
– Equity grants - Alternative Minimum Tax—Individuals
