Individual Tax Workshop - Advanced
To be determined if live or virtual
Participants will review the rules, regulations, and forms required for the filing of the individual income tax return. This two-day program will use the Form 1040 to highlight commonly encountered problems.
Discuss the latest changes and legislative developments affecting individuals.
Calculate the Kiddie Tax and complete Form 8615 and Form 8814.
Calculate depreciation, including bonus depreciation, half-year and mid-quarter conventions, and 179 additional first-year depreciation.
Determine the proper tax treatment of payments for alimony and child support.
Determine the deductibility of travel and entertainment expenses.
Calculate the deduction under 199A for qualified business income.
Calculate alternative minimum tax and identify individuals likely to be affected by AMT.
Discuss capital gains and losses, sale of business property and Form 4797, sale of principal residence, like-kind exchanges and Form 8824, installment sales and Form 6252, basis.
Describe filing requirements, including penalties and payments of estimated tax.
Calculate itemized deductions, including qualified residence interest, qualified housing interest, charitable contributions, and miscellaneous itemized deductions.
Explain the deductibility of losses, including passive activity losses, vacation homes, office in the home, and hobby losses.
Describe the tax effect of contributions to and distributions from qualified plans, including IRAs and penalty taxes.
Determine if income is subject to self-employment tax.
Describe the requirements for filing Form 1099s and penalties for noncompliance.
Calculate common refundable/nonrefundable credits including Nanny Tax (Schedule H).
Early Registration Member Fee
Applicable if you are a HSCPA member in good standing and register by November 23, 2020.
Applicable if you are a HSCPA member in good standing.
Early Registration Non-Member Fee
Applicable if you are not a HSCPA and register by November 23, 2020.
Applicable if you are not a HSCPA member.