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Course ID: IITW
1040 Tax Return Workshop
Get your tax return training from the industry’s best! AICPA’s individual tax workshop provides the latest practical insights from nationally recognized tax experts. Reinforce your understanding of frequently used principles, and receive a wealth of tax-planning tips and strategies. Learn how to apply the latest changes when preparing federal income tax returns, and advise clients on new developments and tax-saving ideas for individuals. All key tax return issues are covered during this fast-paced, real-world session. Make sure you are armed with the latest tax guidance as you enter the upcoming tax season! Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.
Learning Objectives
- Apply the latest changes when preparing federal individual income tax returns.
- Recall how to advise individual clients on new developments and tax-saving ideas.
Major Topics
- New tax developments
- Dividends, interest, and planning opportunities
- Compensation issues, deferred plans, fringe benefits
- Distributions from IRA’s and other qualified plans
- Gross income exclusions
- Passive losses
- Vacation homes, home offices, bad debts
- Travel and entertainment
- Depreciation and amortization
- Gain and loss recognition and basis rules
- Property transactions – capital vs ordinary income
- HSA’s, self-employed health insurance and other adjustments to income
- Alternative minimum tax
- Tax credits and estimated taxes
- Continuing impact of the Affordable Care Act on individual taxpayers
Advanced Preparations
None.
Who Should Attend
CPAs working with clients or employers requiring up-to-date expertise in individual income taxation for the current tax season
Fields of Study
TaxesPrerequisites
Knowledge of individual income taxation and Form 1040 preparation