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Tuesday, December 1, 2020 Webcast

Surgent's Advanced Individual Income Tax Return Issues (E2012051)

9:00 AM - 4:30 PM EST

Registration: 8:30 AM EST

webcast

Webcast

8.0 CPE Credits in TX

OVERVIEW

Most CPAs have been preparing individual income tax returns for years and while many of the returns are easy, there are always several issues that come up in busy season of which experienced practitioners wish they had more knowledge. This course is designed to explore the tough tax issues for experienced practitioners and help them provide better planning strategies and results for their higher income clients.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

Experienced CPAs who want and need an in-depth knowledge of the most difficult individual income tax return issues.

BENEFITS

  • Understand how to properly report advanced transactions in financial instruments and investments
  • Understand the special problems and new issues for the current return
  • Understand the business loss limitation rules and how to calculate the deductible loss

HIGHLIGHTS

  • Understanding the special problems and new issues for the current year tax return
  • How to determine the §199A deduction and when rental property qualifies for the §199A deduction
  • Installment sales - understanding the complicated issues
  • Form 8582: Passive losses with carryovers - Complicated case with filled-in forms
  • Capital gain and loss issues - The problem with proper reporting of installment sales issues; when is a stock worthless; and much more
  • At-risk rules: What a return preparer really needs to know
  • Passive loss issues - You can’t just trust your software. What to watch out for, and the questions you need your clients to answer in order to do it right!
  • Incentive and nonqualified stock options - Reporting; key strategies for planning; dealing with the alternative minimum tax
  • Alternative minimum tax - Understanding it; planning strategies to avoid it; using the minimum tax credit; explaining it to a client
  • The business loss limitation rules - Understanding the business loss limitation rules and the associated calculations

COURSE LEVEL

Advanced

PREREQUISITES

Extensive experience in preparation of individual income tax returns.

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • This seminar qualifies for IRS credit.

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.

INSTRUCTOR

Michael Reilly

Michael E. Reilly, CPA, ChFC, CLU, MT

Surgent Professional Education

Michael E. Reilly, CPA, is a sole practitioner with offices in West Chester, PA. In addition to maintaining his practice, Mr. Reilly has been an adjunct professor at several colleges and was a visiting professor of Economics and Business at Lafayette College. He was also the CFO for a large insurance agency in Delaware County, PA, and was a licensed insurance agent in Pennsylvania. Mr. Reilly earned his bachelor’s degree in business administration with an accounting concentration from Temple University and his master of taxation degree from Villanova University School of Law. He also holds the Chartered Financial Consultant (ChFC) and Chartered Life Underwriter (CLU) certifications. In 2016, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills.

PRICING

$289.00 - Member

$389.00 - Non Member

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Note: Online pre-registration will close 24 hours prior to this event.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

Surgent