Individual Tax Fundamentals - Tax Staff Essentials
Overview
Basic, but not boring Newcomers to tax return preparation are exposed to the many topics that encompass individual taxation. Topics, discussed in an approachable format, include:
- Filing requirements and dependents
- Gross income inclusions and exclusions
- Adjustments to income
- Standard and itemized deductions
- Refundable and nonrefundable tax credits
- Tax computations
- Penalties
Taking advantage of present opportunities for your clients’ future Tax planning involves understanding a client’s current situation to anticipate areas of future tax savings. You’ll review common individual tax planning topics to better help clients prepare for their future.
Decoding recent legislative changes for individual taxpayers You’ll be able to provide your clients with the most current tax planning and tax-saving strategies for their tax plans. This course is updated for recent IRS guidance and legislation, including:
- IRS revenue procedures and notices
- SECURE 1.0
- SECURE 2.0
- Inflation Reduction Act
Highlights
Prerequisites
None
Designed For
CPAs Working with individual Tax clients
Objectives
- Identify individual retirement account (IRA) and qualified plan distributions.
- Recognize the taxation of virtual currency.
- Recall how health savings accounts (HSAs) work.
- Recall the self-employed health insurance deduction.
- Recall the deductibility of charitable contributions.
- Recall the steps to figuring the qualified business income deduction under Section 199A.
- Recall the net investment income tax (NIIT) on unearned income.
Leader(s):
Leader Bios
William Harden, Surgent McCoy Self Study
Bill is an Associate Professor in the Bryan School of Business and Economics at the University of North Carolina at Greensboro where he teaches tax courses on flow-through entities, individual and corporate tax, tax research, IRS practices, and ethics. Bill has over twenty years of experience in taxation. He began his public accounting career in 1990 in the Dallas office of one of the Big Six accounting firms. In addition to his university teaching, Bill consults on tax and financial planning issues and maintains a sole practice in North Carolina, focusing on taxation and financial consulting for small businesses and individuals. Bill has testified before the House Ways and Means Oversight Sub-Committee on Internet taxation issues. He was the recipient of a Lybrand Certificate of Merit in 2002. Bill has been involved in CPE instruction for over a decade. He received NCACPA outstanding instructor awards in 2009, 2010, and 2011. Bill has authored over 30 publications in tax accounting and financial planning journals, including the Journal of Financial Service Professionals, Strategic Finance, National Tax Journal, Journal of Business Finance and Accounting, Tax Notes, Tax Advisor, and Journal of the American Society of CLU and ChFC. Mr. Harden is currently a member of the American Accounting Association, the American Taxation Association, the National Tax Association, and the North Carolina Association of CPAs. He is a past board member of the Piedmont Chapter of the NCACPA.
Non-Member Price $403.00
Member Price $352.00