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Technical

Intermediate Individual Taxation - Tax Staff Essentials Logo aicpa

  Wendy Kravit, CPA, MBA |   $149.00 - 249.00 |   CPE: 15.0 |   AICPA |   Apr 2017 |   Taxes |   AICPA Store

Save when you buy the complete Tax Staff Essentials, Level 2 online bundle.

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.

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

Learning Objectives

This course will prepare you to:

  • Identify 2015’s key inflation-indexed figures
  • Determine the proper reporting of tip income, employee stock options, nonqualified deferred comensation, fringe benefits
  • Identify the characteristics of a hobby loss
  • Determine whether an activity is a passive activity
  • Recognize the tax implications of having rental real estate classified as an active or passive activity
  • Recognize how material participation impacts the taxation of an activity
  • Determine the proper tax treatment upon the disposal of a passive activity
  • Determine the proper tax treatment for fringe benefits, retirement plan distributions, and foreign earned income
  • Identify the rules for depreciation and amortization deductions
  • Calculate gains and losses from property transactions.
  • Identify applicable tax rate on gains from property transactions
  • Determine the proper tax treatment for losses on stock sales
  • Distinguish between different recapture provisions
  • Determine when IRC Section 1244 applies to a transaction
  • Differentiate between stock traders and investors
  • Recognize when the provisions under IRC Section 1202 apply to a transaction
  • 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, saver’s credit, residential energy credit

Who Will Benefit?
CPAs working with clients or employers requiring up-to-date expertise in individual income taxation for the current tax season

Prerequisite: Knowledge of individual income taxation and Form 1040 preparation

Advance Preparation: None

Tax Section Members Receive Additional Savings! 

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Topics covered:
  • Tax: Technical: Individual income taxation : Reporting & filing requirements, Intermediate
  • Tax: Technical: Individual income taxation : Specialized issues, Intermediate

Save when you buy the complete Tax Staff Essentials, Level 2 online bundle.

Do you need to reinforce your understanding of frequently used tax principles? This fast-paced course provides a wealth of tax-planning tips and strategies and addresses key tax return issues to arm you with the latest guidance to better serve your clients. Get practical insights from nationally recognized tax experts, as well as coverage of the latest tax legislation, tax court rulings, and IRS guidance.

Learning Objectives

This course will prepare you to do the following:

  • Identify 2016's key inflation-indexed figures.
  • Determine the proper reporting of tip income, employee stock options, nonqualified deferred comensation, fringe benefits.
  • Identify the characteristics of a hobby loss.
  • Determine whether an activity is a passive activity.
  • Recognize the tax implications of having rental real estate classified as an active or passive activity.
  • Recognize how material participation impacts the taxation of an activity.
  • Determine the proper tax treatment upon the disposal of a passive activity.
  • Determine the proper tax treatment for fringe benefits, retirement plan distributions, and foreign earned income.
  • Identify the rules for depreciation and amortization deductions.
  • Calculate gains and losses from property transactions.
  • Identify applicable tax rate on gains from property transactions.
  • Determine the proper tax treatment for losses on stock sales.
  • Distinguish between different recapture provisions.
  • Determine when IRC Section 1244 applies to a transaction.
  • Differentiate between stock traders and investors.
  • Recognize when the provisions under IRC Section 1202 apply to a transaction.
  • 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.
  • Determine the proper tax treatment for transfers of property between spouses who are divorcing.
  • 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 self-employment tax, alternative minimum tax, net operating losses, net operating loss, carrybacks, and carryforwards.
  • Calculate adoption credit, earned income credit, saver's credit, and 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 versus ordinary income
  • Property transactions: nonrecognition provisions
  • Adjustments to income: self-employed retirement plans and IRAs
  • Tax computations
  • Tax credits

Who Will Benefit?

CPAs working with clients or employers requiring up-to-date expertise in individual income taxation for the current tax season

Discounts

Tax Section Members Receive Additional Savings!

The section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Find out more information on the Tax Section.

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