This CPE course provides you up-to-date information on critical tax issues, providing 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.The course also includes coverage of the PATH Act and Transportation and Highway Funding bill legislation.
Learning Objectives
Recall the filing requirements for individual taxpayers
Determine the filing status of individual taxpayers.
Recognize who can be claimed as a dependent by a taxpayer
Calculate the personal exemption allowable on a return
Identify which dividends are taxable
Calculate the correct tax rate for dividend income
Determine whether various interest income is taxable
Recall how to account for IRA and qualified plan distributions
Recall rules pertaining to IRA rollovers
Identify when Social Security benefits become taxable
Determine the amounts allowable for deducting travel and transportation expenses, meal expenses, and entertainment expenses
Identify deductible student loan interest
Recognize what qualifies for the higher education tuition deduction
Recongize and apply rules related to health savings accounts
Calculate the moving expense deduction
Calculate the self-employed health insurance deduction
Identify deductible alimony payments
Determine the deduction for domestic production activities
Key Topics
Filing requirements and personal exemptions
Gross income inclusions, exclusions, and adjustments
Sole proprietorships and hobby loss rules
Home offices, rental properties, and vacation homes
Passive activities
Travel and entertainment
Education related expenses
Health Savings Accounts
Self-Insured Health Insurance
Alimony payments
Itemized deductions: medical, taxes, interest, charitable contributions, casualty and theft
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