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Monday, November 2, 2020 Webcast

Advanced Individual Income Tax Return Issues (X1-STRI-2020-01-WEBNR-307-01)

9:00 AM - 5:00 PM EST
webcast

Webcast

8.0 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 several 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 how to properly report advanced transactions in financial instruments and investments
  • Understand the special problems and new issues for the current return
  • Understand the business loss limitation rules and how to calculate the deductible loss

HIGHLIGHTS

  • Understanding the special problems and new issues for the current year tax return
  • How to determine the §199A deduction and when rental property qualifies for the §199A deduction
  • Installment sales - understanding the complicated issues
  • Form 8582: Passive losses with carryovers - Complicated case with filled-in forms
  • Capital gain and loss issues - The problem with proper reporting of installment sales issues; when is a stock worthless; and much more
  • At-risk rules: What a return preparer really needs to know
  • Passive loss issues - You can’t 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
  • The business loss limitation rules - Understanding the business loss limitation rules and the associated calculations

COURSE LEVEL

Advanced

PREREQUISITES

Extensive experience in preparation of individual income tax returns.

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • This seminar qualifies for IRS credit.

Course materials are distributed electronically. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.

INSTRUCTOR

Deborah Phillips

Deborah A. Phillips, CPA, MST

Surgent Professional Education

Debbie operates her own tax controversy practice where she specializes in partnership and S corporation tax law as well as IRS audits and procedures. She has been very successful petitioning and resolving tax issues under the jurisdiction of the United States Tax Court. She is proficient in Section 199A provisions and computations as well as all aspects of the Tax Cuts and Jobs Act of 2017. Previously, Debbie worked for the Internal Revenue Service (IRS) for more than 32 years, with experience in its Large Business and International Division (LB&I) and its Flow Through Issue Practice Group (IPG), along with various retail and manufacturing industry groups. In addition, Debbie taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College, and Goldey-Beacom College. She has been a seminar presenter for approximately 20 years as well as a textbook author. In 2015 through 2017, she received the Surgent Outstanding Discussion Leader Award.

PRICING

$249.00 - Member

$259.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

Surgent