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CPE Self-Study
Intermediate Individual Taxation - Tax Staff Essentials
NASBA FIELD OF STUDY
Taxes
LEVEL
Intermediate
CPE CREDITS
Online: 14.0
Provides a wealth of tax-planning tips and strategies and addresses key tax return issues to arm you with the latest guidance to better serve your clients.

Tax Section Members Receive Additional Savings!

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.

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Product details

Who Will Benefit?

  • CPAs working with clients or employers requiring up-to-date expertise in individual income taxation for the current tax season

Key Topics

  • Summary of Major Individual Tax Developments
  • Gross Income: Compensation Issues and Nontaxable Employee Fringe Benefits
  • Gross Income Exclusions
  • Hobbies and Passive Activities
  • Select Business Transactions: Methods of Accounting, Business Expenses, Home Offices and Vacation Homes
  • Section 199A: The Qualified Business Income Deduction
  • Depreciation and Amortization
  • Property Dispositions: Capital versus Ordinary gains and Losses
  • Property Transactions: Nonrecognition Provisions
  • Adjustments to Income: Self-Employed Retirement Plans and IRAs
  • Net Operating Losses, Self-Employment Tax, and Alternative Minimum Tax

Learning Objectives

  • Determine the proper reporting of tip income, employee stock options, nonqualified deferred compensation, fringe benefits.
  • Identify the characteristics of a hobby loss.
  • Recognize the tax implications of having rental real estate classified as an active or passive activity and how material participation impacts the taxation of an activity.
  • Determine the proper tax treatment for fringe benefits, retirement plan distributions, and foreign earned income.
  • Identify the rules for depreciation and amortization deductions.
  • Calculate gains and losses from property transactions, and depreciation recapture provisions.
  • Determine the proper tax treatment for losses on stock sales.
  • Determine when IRC Sections 1244 and 1202 apply to a transaction.
  • Recognize rules associated with like-kind exchanges and involuntary conversions.
  • Recall the rules applying to involuntary conversions.
  • Determine whether the gains relating to the sale of a principal residence are taxable.
  • Identify the various types of retirement plans available to self-employed individuals, and calculate allowable contributions.
  • Calculate allowable IRA contributions and identify the exemptions for penalties for early withdrawals from IRAs.

Save when you buy the complete Tax Staff Essentials, Level 2 online bundle.

Many individual taxpayers were unprepared for the changes caused by The Tax Cuts and Jobs Act of 2017. This Act was the biggest overhaul of the Internal Revenue Code since 1986.

This self-study course provides a wealth of tax-planning tips and strategies and addresses key tax return issues to arm you with the latest guidance to better serve your clients.

Get practical insights from nationally recognized tax experts, as well as coverage of the latest tax legislation, tax court rulings, and IRS guidance. This course also covers Section 199A: The Qualified Business Income Deduction.

Ratings and reviews
Author(s)

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.

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.

Price:
$249.00
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Estimated total:
$249.00
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CREDIT INFO
CPE credits
Online
: 14.0
NASBA Field of Study
Taxes
Level
Intermediate
Prerequisites
Knowledge of individual income taxation and Form 1040 preparation
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
TSE.IIT
GROUP PRICING
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Telephone: 800.634.6780 (Option 1)
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