Individual Tax Fundamentals

Description

This course provides participants up-to-date information on critical tax issues, giving them an outstanding foundation in the federal tax arena for individuals. Ensure your clients receive the most current tax planning and tax-saving strategies for their tax plans. Topics Discussed • Filing requirements and personal exemptions • Gross income inclusions, exclusions, and adjustments • Travel and entertainment • Standard and itemized deductions • Tax and tax credits • 0.9% Medicare Payroll Tax • 3.8% Net Investment Income Tax

Learning Objectives
  1. Determine the filing status and interpret the filing requirements for individual taxpayers
  2. Determine gross income inclusions and exclusions around dividends and interest
  3. Differentiate the taxability of deferred income, Social Security benefits, and other taxable income
  4. Apply the specific rules for the deductibility of travel and entertainment expenses as they relate to business or rental transactions in preparing income tax returns
  5. Recognize Education related expenses and the rules for Health Savings Accounts
  6. Distinguish between standard and itemized deductions including medical expenses, interest, taxes, charitable contributions, theft losses, and miscellaneous deductions
  7. Gather the necessary information required to include tax credits on an individual tax return
  8. Recognize when the Medicare Payroll Tax will impact an individual
  9. Identify the applicability of the Medicare tax on Net Investment Income
Major Topics
  1. Filing requirements and personal exemptions Gross income inclusions, exclusions, and adjustments Travel and entertainment Standard and itemized deductions Tax and tax credits 0.9% Medicare Payroll Tax 3.8% Net Investment Income Tax
CPE Field of Study
Taxes
8
Who Should Attend
CPAs and accountants new to taxation
Course Level
Basic
Instructor(s)
Pamela Davis-Vaughn
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When
Dec 6, 2016
9:00 am - 4:35 pm
Location
Online
Total CPE Credits
8
Format
Webcast
Instructor
Pamela Davis-Vaughn

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Individual Tax Fundamentals


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