About this Course
Topics covered include: Routine Changes & Key Extenders;
Miscellaneous Income
State Tax Refund vs Sales Tax Deduction; Teachers/Classroom Supplies; Higher Education Interest; Medical Expenses in all their Glory; Nursing Services, Home Health Care; Home Mortgage Interest and Acquisition Debt; Employee Deductions;
Travel Expenses and Per Diems.
Upon completing this course, you should be able to: Recognize how to implement tax breaks that impact the Federal 1040 return;
Identify the new rates for filers;
Recognize the 2018 standard deduction for head of household;
Differentiate correct statements with respect to student loan interest changes; Describe mortgage interest limits
Identify the maximum salary reduction for cafeteria plans for 2018; Recognize 2018 standard mileage rates; Describe the amount the deduction for state and local taxes is limited to;
Identify the 2018 maximum earnings subject to social security tax with respect to an employee's portion of FICA;
Recognize adjustments to income are normally included within Line 21 related to miscellaneous income;
Differentiate characteristic requirements for student loan interest; Identify qualified transportation benefits;
Recognize characteristics of an accountable plan; Identify how to handle an expiring ITIN and which form to utilize.