CPE Self-Study

Individual Tax Fundamentals - Tax Staff Essentials

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Save when you buy the complete Tax Staff Essentials, Level 1 online bundle.

Are you new to taxation or do you need to build confidence in the federal tax arena? From filing requirements to tax credits and health savings accounts, this CPE course will prepare you for handling individual taxes. Featuring up-to-date information on critical tax issues, including Tax Reform, this course will ensure your clients receive the most current tax planning and tax-saving strategies for their tax plans. This course also offers practical guidance on the latest tax legislation, tax court rulings, and IRS guidance.

Learning Objectives

  • Recall the filing requirements for individual taxpayers.
  • Determine the filing status of individual taxpayers.
  • Recognize who can be claimed as a dependent by a taxpayer.
  • Calculate the personal exemption allowable on a return.
  • Identify which dividends are taxable.
  • Calculate the correct tax rate for dividend income.
  • Determine whether various interest income is taxable.
  • Recall how to account for IRA and qualified plan distributions.
  • Recall rules pertaining to IRA rollovers.
  • Identify when Social Security benefits become taxable.
  • Determine the amounts allowable for deducting travel and transportation expenses, meal expenses, and entertainment expenses.
  • Identify deductible student loan interest.
  • Recognize what qualifies for the higher education tuition deduction.
  • Recognize and apply rules related to health savings accounts.
  • Calculate the moving expense deduction.
  • Calculate the self-employed health insurance deduction.
  • Identify deductible alimony payments.
  • Determin the deduction for domestic production activities.
  • Determine when a taxpayer is required to use the standard deduction or may itemize deductions.
  • Calculate the reduction of itemized deductions for high income taxpayers.
  • Calculate the deduction for investment expenses.
  • Calculate the deduction for employee business expenses.
  • Determine the correct treatment for miscellaneous itemized deductions.
  • Determine the correct amount of the child tax credit.
  • Determine when a taxpayer is eligible for the child and dependent care credit.
  • Calculate the higher education tax credits.
  • Determine whether an individual is eligible for the premium tax credit for health plans.

Key Topics

  • Filing requirements and personal exemptions
  • Gross income inclusions, exclusions, and adjustments
  • Sole proprietorships and hobby loss rules
  • Home offices, rental properties, and vacation homes
  • Passive activities
  • Travel and entertainment
  • Education related expenses
  • Health savings accounts
  • Self-insured health insurance
  • Alimony payments
  • Itemized deductions: medical, taxes, interest, charitable contributions, casualty and theft
  • Net investment income tax
  • Kiddie tax, estimated taxes, shared responsibility payment
  • Tax credits

Who Will Benefit?

  • CPAs and accountants new to taxation


Tax Section Members Receive Additional Savings!

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Find out more information on the Tax Section.

Table of Contents

System Requirements

About the Authors

Wendy E. Kravit, CPA

Wendy Kravit, CPA, MBA started her career working for the Internal Revenue Service as a Revenue Agent. After spending a few years with the government, she left the Service and joined the faculty of Northern Illinois University where she taught federal taxation in both the undergraduate and graduate programs. She also operated a sole proprietorship in Northern Illinois where she specialized in tax and representation before the IRS. She sold her practice in Illinois and moved to Maryland in 2004 where she continues to teach and consult.

Ms. Kravit had been an active member of the Illinois CPA Society where she served on the Tax Executive Committee for many years. She was a steady member of the task force and occasionally the Chairman for the Annual Illinois CPA Society Federal Tax Conference. She has reviewed textbooks for publishers and she has written tax articles for various publications including the Tax Advisor.

Currently, Ms. Kravit is a former member of the AICPA's IRS Practice and Procedures Committee. Wendy is author of several continuing education tax courses for the AICPA.

About the Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.