While the Tax Cuts and Jobs Act did many things, simplification of the tax law for clients of most CPA firms was not one of them. This program is designed for the accountant who is ready to handle the most complex individual client’s income tax preparation. The program will look at areas that vex CPAs when dealing with individual taxes, including the §199A qualified business income deduction, limitation on the deduction of business interest under §163(j), passive activity rules, and the net investment income tax.
• Solve complex 1040 problems
• Compute qualified business income deduction
• Compute tax on net investment income, additional withholding and tax on wages, and self-employment earnings
• Explain and compute AMT
• Identify and apply passive activity rules
• Recognize and advise clients on like-kind exchanges
• Define and apply at-risk rules
• Recognize the existence of and compute the amount of NOL and understand tax implications.
• Impact of any tax legislation enacted by Congress during the year
• Qualified business income deduction—who it applies to, how to deal with the limitations, and planning opportunities
• Passive losses—tracking, triggering, and grouping activities in order to reduce passive income
• Net investment income tax
• Like-kind exchanges
• At-risk rules
• Excess business and NOL
• Alternative minimum tax issues
Practitioners in public practice with experience preparing 1040s.
General tax knowledge.
This webinar is produced by CalCPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.