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Monday, December 4, 2017 Live

Advanced Individual Income Tax Return Issues (E1712511)

8:30 AM - 4:30 PM EST

Registration: 8:00 AM EST

APA Hotel Woodbridge

120 Wood Avenue South
Iselin , NJ 08830

8 CPE Credits in TX

OVERVIEW

Most CPAs have been preparing individual income tax returns for years, and while many of the returns are easy, there are always a number of issues that come up in busy season of which experienced practitioners wish they had more knowledge. This course is designed to explore the tough tax issues for experienced practitioners and help them provide better planning strategies and results for their higher income clients.

DESIGNED FOR

Experienced CPAs who want and need an in-depth knowledge of the most difficult individual income tax return issues

BENEFITS

  • Understand the basics of §199A
  • Understand how to properly report advanced transactions in financial instruments and investments
  • Understand the special problems and new issues for the current return
  • Identify the causes of alternative minimum tax liability and what can be done to reduce or eliminate it

HIGHLIGHTS

  • New issues for the current year tax return and §199A
  • Installment sales — understanding the complicated issues
  • Form 8582: Passive losses with carryovers — Complicated case with filled-in forms
  • Puts, calls, straddling, and unusual investments — Understanding the tax laws and reporting them correctly on the tax return
  • Capital gain and loss issues — The problem with proper reporting of installment sales issues; capital gains and losses; when is a stock worthless; and much more
  • At-risk rules: What a return preparer really needs to know
  • Passive loss issues - You cannot just trust your software. What to watch out for and the questions you need your clients to answer in order to do it right!
  • Incentive and nonqualified stock options - Reporting; key strategies for planning; dealing with the alternative minimum tax
  • Alternative minimum tax- Understanding it; planning strategies to avoid it; using the minimum tax credit; explaining it to a client
  • Form 6251: Detailed calculation example

COURSE LEVEL

Advanced

PREREQUISITES

Extensive experience in preparation of individual income tax returns

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for IRS credit

INSTRUCTOR

Robert Herman

Robert P. Herman, CPA, MCP

Owner

RPH Consulting

Robert P. Herman is a certified public accountant (NJ) also holding the Microsoft Certified Professional (MCP) designation. He was a former certificate holder of the CITP (Certified Information Technology Professional) and CGMA (Chartered Global Management Accountant). Prior to becoming an instructor for continuing professional education seminars, he was a partner in a large CPA firm where he practiced tax and serviced the firm’s SMB market. Robert then became vice president for a large Sage Software reseller, where he supervised six consultants and led large client ERP installations and analysis. He worked as the director of accounting for one of the largest Sage Software resellers. There his responsibilities included payroll preparation and oversight for over 230 employees in 25 states and Canada. He was also responsible for compliance of all tax filing (payroll and sales tax) in those states and in assisting the CFO in monthly financial preparation and analysis. Due to his technical knowledge, he was also responsible for implementing, upgrading, and maintaining the company’s internal financial and payroll-based software systems. He presently consults for varying types of businesses in areas of his specialties. Robert’s professional affiliations include membership in the AICPA; New Jersey Society of Certified Public Accountants; past president, Passaic County Chapter of the New Jersey Society of Certified Public Accountants; past chairperson of the Information Technology Committee of the New Jersey Society of Certified Public Accountants; and past member of the Board of Trustees of the New Jersey Society of Certified Public Accountants. Robert served in the US Army as an officer in the MPs and spent time in many countries, including Vietnam.

PRICING

$399.00 - Nonmember

$299.00 - Member

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

Surgent

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