Two case studies. Two realistic returns to review for errors and opportunities.
DESIGNED FOR
CPAs working with clients requiring up-to-date expertise in individual income taxation for the current tax season
BENEFITS
- Determine the proper tax treatment for certain rental property activities.
- Distinguish between hobbies and businesses.
- Determine the proper tax treatment for various startup costs by a new business.
- Identify the warning signs that a client might have unreported income.
HIGHLIGHTS
Passive-activity losses
Qualified business income deduction
Home office
Schedule C activity and hobby losses
Business startups and deductions
Alimony
Discharge of debt
H.R. 1, commonly referred to as OBBBAPREREQUISITES
Basic knowledge of individual income taxation
ADVANCE PREPARATION
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