Many individual taxpayers were unprepared for the changes caused by The Tax Cuts and Jobs Act of 2017. This Act was the biggest overhaul of the Internal Revenue Code since 1986. This webcast provides a wealth of tax-planning tips and strategies and addresses key tax return issues to arm you with the latest guidance to better serve your clients. The webcast includes in-depth coverage of Section 199A: The Qualified Business Income Deduction. Get practical insights from nationally recognized tax experts, as well as coverage of the latest tax legislation, tax court rulings, and IRS guidance.
Learning Objectives
*Recognize compensation issues and non-taxable employee fringe benefits *Identify the specific rules that apply under the “passive activity” rules *Identify and calculate the business deduction for home office expenses and deduction limitations on vacation homes and other ordinary business expenses *Analyze the deductibility of hobby losses *Identify the rules for depreciation and amortization deductions *Differentiate between capital and ordinary income treatment on property transactions *Identify tax consequences for self-employed retirement plans and IRAs *Select the necessary information required to include for a claim for a tax credit on an individual income tax return
Major Topics
• Fringe benefits • Retirement plan distributions • Hobby losses • Home Offices • Depreciation and amortization • Tax Credits
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Tax
CPE Field of Study
Taxes
8
Who Should Attend
CPAs working with clients or employers requiring up-to-date expertise in individual income taxation for the current tax season
Prerequisites
Knowledge of individual income taxation and Form 1040 preparation
