Reviewing Individual Tax Returns: What Are You Missing
Authored by Wendy Kravit, CPA, MBA
About this Course
Join us for this informative CPE course designed to sharpen the reviewer's skills by examining case studies, discussing issues for which additional information from the client may be warranted, and areas of tax law that require additional analysis and information.
The course covers multiple issues, including pass-through K-1s, the home office, hobby losses, rental property, hiring of spouses, depreciation, Section 179 issues, amortization and more! This course follows a highly illustrative case study format to increase participant comprehension and retention
Learning Objectives
Identify potential errors or omissions of information on tax returns
Recognize planning opportunities for your clients based upon information reported on a tax return
Determine the proper tax treatment for certain rental property activities
Apply IRC regulations to losses on time share and vacation properties
Analyze the effect a home office deduction has on depreciation recapture
Determine the proper tax treatment for various start-up costs by a new business
Identify allowable depreciation options for automobile expenses
Recognize the possibility that clients may not being disclosing all of their reportable income
Determine proper tax return reporting of a like-kind exchange transaction
Identify potential employee vs. independent contractor misclassification on client tax returns
Analyze the effect like-kind exchanges have on future depreciation expense deductions
Key Topics
Time Share Properties
Home Office
Hobby Losses
Margin Interest
Self Employed Health Insurance
Business Start-Up Costs
Depreciation
Unreported Income
Shared Responsibility Payments
Schedule C
Like-Kind Exchanges
Self-Employment Tax
Section 1202 Stock
Charitable Contributions of Property
Who will it benefit?
CPAs working with clients requiring up-to-date expertise in individual income taxation for the current tax season
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