Elevate your individual income tax skills and knowledge to go beyond the basics. Provide superior service to your clients. Cover topics including taxation of investments, reporting of partnership and S-corporation income, net investment income tax, calculation of self-employment taxes, household employer taxes, social security taxation, basic retirement planning opportunities, and AMT. Also, a review of loss limitations and much more.
Learning Objectives
- Identify all of the individual income tax series 1040 and basic schedules and know when each form is used.
- Learn the correct federal tax treatment of various advanced individual income tax topics.
- Calculate the total tax liability of an individual taxpayer with several advanced individual complications.
- Reinforce concepts through the use of basic quick case studies.
Major Topics
- Taxation of investments
- Reporting of business income and losses from pass-through entities including loss limitations
- Non-income taxes that impact individual income tax returns
- Retirement contributions and planning
- Alternative Minimum Tax
- Social Security taxation
- Charitable contribution planning with limitations
