Red Alert: Critical Choices on 2017 Tax Returns

Authored by Bradley Burnett
About this Course
Topics covered include: The Tax Cuts and Jobs Act of 2017; The Bi-Partisan Budget Act of 2018; Adjustments for extended 2017 returns that can help 2018 and beyond; When is an amended return for 2017 a good idea. Upon completing this course, you should be able to: Discuss at least five recent legislative changes retroactive to 2017; Describe at least one way choices made for 2017 could negatively affect taxes for 2018 and later years; Recognize and outline at least one situation where an extended (or amended) 2017 return might help you clients; Identify the new tax rates as a result of TCJA; Differentiate correct statements with respect to itemized deductions for medical expense subsequent to the TCJA; Recognize deduction amount limits for state and local taxes as a result of TCJA; Identify the new mortgage interest rules; Describe the maximum Section 179 expense amount for 2018; Recognize when taking fast recovery for assets placed into service after 9/27/17; Identify the new taxable income amounts for taxpayers; Differentiate true statements regarding Section 179 and bonus.
$ 34.00
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NASBA Field of Study
Taxes
Level
Update
CPE Credits
2.0
Prerequisites
A basic understanding of federal income taxation concepts.
Last Updated
08/30/2018
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