Sharpen your 1040 review skills by examining case studies and discussing issues where additional information from the client may be warranted and areas of tax law where proper treatment requires additional analysis. Discuss issues including passthrough K-1s, home office, rental property, depreciation, §179 and more. In the second half of this program learn about FICA, the Medicare tax and more. We'll cover real-world situations and use the tools provided to advise your clients to make optimal decisions when it comes to Social Security and Medicare.
DESIGNED FOR
CPAs, professional accountants and financial advisors
BENEFITS
- Identify common mistakes made on individual tax returns
- Determine strategies to avoid making mistakes on individual tax returns
- Recall the role of the Social Security Administration and how FICA applies to the funding of Social Security and Medicare benefits
- Identify the benefit eligibility issues
- Determine Social Security benefits and the implications retirement age has on those benefits
- Identify what types of Social Security survivor benefits are available
- Identify the disability income benefits and the multiple factors that can impact those benefits
- Identify coverages and costs associated with Medicare and what it does not cover
HIGHLIGHTS
- Common tax form errors: Form 1040; Schedule A; Schedule B; Schedule C; Schedule D; Schedule E; Form 4562; Form 4797
- What Medicare will and will not do
- Managing Medicare gaps
- Analyzing the wide menu of social security benefits
- Social Security benefits for workers and families: retirement, survivor, disability and death benefit
- Tax impact of social security premiums and benefits
- Impact of the 3.8% Medicare surtax on investment income
- Recent changes to the Medicare law
PREREQUISITES
Basic knowledge of Social Security and Medicare.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- This seminar is not eligible for the AICPA discount.
Course materials are distributed electronically. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.