The best laid plans of mice and men often go astray; the same is true for taxpayers and practitioners. Every practitioner has been confronted with a client who had a different twist on a tax idea. This course focuses on the law in order to break down 25 situations in which practitioners need to be sharp. The study of the law underlying the tax areas will assist practitioners in satisfying their professional standards of practice and will help you in preparing Form 1040.
- Individual income tax cases regarding income, adjustments, passive activities, and itemized deductions
- What all is hidden in that Form 1098?
- Don’t get caught watching the paint dry, the IRS “Future State” Initiative
- Does aggregating passive activities also aggregate “At-Risk”?\
- Utilizing ABLE programs; soon could be open to millions more taxpayers
- My preparer failed to properly obtain an extension of time to file. Can I be relieved of that penalty?
- When “gifts” can be taxable
- Deducting legal fees post-TCJA
- Why are manhole covers round?
- Chained CPI Index, Elderly CPI index, one or the other, and Social Security
- Hazy situation, two seemingly similar cases, yet one results in ordinary tax treatment, the other capital treatment (Heads they win, tails we lose)
- When a “rollover” is not a rollover; the Claim of Right Doctrine
- What are the risks with non-traditional IRA investments?
- Failing alimony’s requirements; could this scenario happen in your office?
- The self-charged rent rules
- What’s in store for Social Security
- Achieve significant insight into the major mistakes that can be made in individual tax and financial planning
- Develop strategies that will assist in not only avoiding mistakes but also in providing the best advice to your clients
CPAs who wish to get a deeper insight into underlying tax law for some common client transactions that many offices have seen, plus some not so common client transactions
Basic knowledge of individual income taxation