Intermediate Individual Taxation

Authored by Wendy Kravit, CPA, MBA
About this Course
This CPE course provides a wealth of tax-planning tips and strategies to ensure you are prepared for the upcoming tax season. It covers essential tax return issues and topics including the PATH act and the Transportation and Highway Funding bill. The industry’s best tax return training will reinforce your understanding of frequently used principles. In addition, you will learn practical insights from nationally recognized tax experts. This comprehensive course is a valuable resource for those who require the most up-to-date expertise in individual income taxation.
Learning Objectives
  • Recognize when the like-kind exchange rules apply to a transaction
  • Recall the rules applying to involuntary conversions
  • Recall rules regarding the rollover of gains on nonpublic C corporation stock to an Employee Stock Option Plan (ESOP)
  • Determine the proper tax treatment for transfers of property between spouses incident to a divorce
  • Determine whether the gains relating to the sale of a principal residence are taxable
  • Identify the various types of retirement plans available to self-employed individuals
  • Calculate the contributions allowed to self-employed retirement plans
  • Calculate allowable IRA contributions
  • Identify the exemptions for penalties for early withdrawals from IRAs
  • Calculate the following: self-employment tax, alternative minimum tax, net operating losses, net operating loss, carrybacks and carryforwards
  • Calculate the following: adoption credit, earned income credit, savers credit, residential energy credit
Key Topics
  • Summary of major individual tax developments
  • Gross Income: compensation issues and nontaxable employee fringe benefits
  • Fringe benefits, retirement plan distributions, earned income exclusion
  • Business and Rental Transactions: hobby losses and passive losses
  • Depreciation and Amortization
  • Property Transactions Gains and Losses
  • Property Transactions: Capital vs. Ordinary income
  • Property Transactions: Nonrecognition Provisions
  • Adjustments to Income: Self-employed retirement plans and IRAs
  • Tax Computations
  • Tax Credits
Who will it benefit?
CPAs working with clients or employers requiring up-to-date expertise in individual income taxation for the current tax season
$ 249.00
AICPA Member Price: $ 199.00
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NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
15.0
Prerequisites
None
Delivery Method
QAS Self-Study
Advance Preparation
None
Last Updated
02/02/2017
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