1040 Tax Return Workshop

*CAW Network USA member discounts applicable at checkout

The biggest overhaul of the Internal Revenue Code since 1986, The Tax Cuts and Jobs Act of 2017 created a lot of uncertainty and a new appreciation for the complexity of our tax system, especially for individual taxpayers accustomed to income tax refunds. Make sure you are armed with the latest tax reform and legislative guidance to better serve your clients.

Featuring insight from nationally recognized tax experts, this CPE self-study course offers a wealth of tax-planning tips and strategies to help you:
Apply the latest changes when preparing federal income tax returns.
Advise clients on new developments and tax−saving ideas for individuals.
Understanding of frequently used principles..

CPE Credits: 25

Topics Discussed

• New Tax Developments
• The Tax Cuts and Jobs Act of 2017
• Dividends, interest, and planning opportunities
• Compensation issues, deferred plans, fringe benefits
• Distributions from IRA’s and other qualified plans
• Gross income exclusions
• Passive losses and hobby activity rules
• Vacation homes, home offices, bad debts
• Travel and entertainment
• Depreciation and Amortization
• Gain and loss recognition and basis rules
• Property transactions – capital gain vs ordinary income
• Self-employed health insurance, alimony, and other adjustments to income
• Itemized Deductions
• Tax computations, health insurance and other tax credits

Learning Objectives

• Determine the filing status of individual taxpayers.
• Recognize who can be claimed as a dependent by a taxpayer.
• Identify when Social Security benefits become taxable.
• Determine the amounts allowable for deducting travel and transportation expenses,
  meal expenses, and entertainment expenses.
• Recognize and apply rules related to health savings accounts.
• Recognize the tax implications of having rental real estate classified as an active or passive activity.
• Determine the proper tax treatment for fringe benefits, retirement plan distributions, and foreign earned income.
• Identify the various types of retirement plans available to self-employed individuals and calculate allowable contributions to such plans.

Who will benefit

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