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Don Farmer’s 2020 Individual Income Tax Workshop (Maryland Webcast)

Description

Relevant, engaging instruction on pressing tax topics

In this course, we’ll review current year developments, recurring problems, and planning ideas using a combination of humor and examples. We’ll focus on tax developments that affect 2020 individual income tax return preparation and planning. And as time permits, we will also review the major areas of individual income taxation to fine tune practitioners for the upcoming “tax season.”

Learning Objectives

This course is designed to:

  1. Provide explanations and planning ideas relating to the latest 2020 tax developments impacting individuals, including the most recent guidance on provisions of the Tax Cuts And Jobs Act (TCJA), the SECURE Act, and the Taxpayer First Act
  2. Help practitioners prepare for “tax season,” and
  3. Review and update various tax law provisions and planning ideas affecting individuals

The course includes a 600+ page reference Manual with each chapter containing basic rules, selected items of interest, 2020 developments, planning ideas, and listings of related IRS forms and publications. Where applicable, each chapter of the Manual includes a segment devoted to the impact of “TCJA” on that chapter’s topic.

Major Topics
  • Review of Individual Income Taxation, including:
    • Key Provisions (including developments) of TCJA, such as:
    • The Child Tax Credit;
    • New Family Tax Credit;
    • Excess Business Loss Limitation for Individuals;
    • Changes in Tax Benefits Related to Education;
    • Miscellaneous Itemized Deductions;
    • Home Mortgage Interest;
    • State and Local Taxes;
    • Repeal Of Alimony Deduction;
    • 20% §199A Deduction; and more!
  • Provisions of the SECURE Act, including:
    • New IRA and Qualified Plan Contribution and Distribution Provisions;
    • New Kiddie Tax Rules;
    • Modifications to 529 Plans; Etc.
  • Provisions of the Taxpayer First Act Affecting Individuals
  • Planning Ideas, Including Planning With New Tax Legislation
  • Important 2020 Regulations, Court Cases, Rulings And Other Non-Legislative Developments
  • Affordable Care Act Developments Including Recapture of Advance Premium Tax Credits
  • Net Investment Income Tax Provisions
  • Forgiveness Of Indebtedness Exclusion Provisions
  • Review Of Home Mortgage Interest, Investment Interest And Business Interest Rules
  • Section 1031 Like-Kind Exchanges
  • Planning With The §121 Gain Exclusion For A Principal Residence
  • Review Of The Home Office And Hobby Loss Rules
  • Review Of Individual Tax Credits
  • Charitable Contributions (Including Treatment As a §162 Trade or Business Expense)
  • Passive Activity Developments (Including Developments For Qualified Real Estate Professionals)
Provider
BLI/Don Farmer
Course Level
Advanced
CPE Field of Study
Tax
8
Who Should Attend

Individuals who prepare individual income tax returns or who are involved in Individual income tax planning.

Instructor(s)
Walter Nunnallee
Prerequisites

At least one “tax season.”

Advanced Preparation

None

Location
Webinar
Event Information
When
Nov 5, 2020
6:00 am - 2:00 pm MST
Location
Webinar
Total CPE Credits
8
Format
Webcast

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Don Farmer’s 2020 Individual Income Tax Workshop (Maryland Webcast)


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