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Tuesday, December 8, 2020 Webcast

Technical Individual Practice Issues and Tax Forms for Experienced Practitioners (E2012241)

9:00 AM - 4:30 PM EST

Registration: 8:30 AM EST

webcast

Webcast

8.0 CPE Credits in TX

OVERVIEW

This course discusses the topics that experienced staff, managers and partners should understand in depth while also assisting in avoiding costly mistakes when facing complicated 1040 issues. The manual includes several advanced cases with "filled-in" forms provided with the complete answers.

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

DESIGNED FOR

CPAs in public accounting who prepare or review complex 1040 returns.

BENEFITS

  • Recognize and understand how to handle advanced technical issues which arise in preparing individual tax returns
  • Complete the tax forms for selected issues

HIGHLIGHTS

  • What’s NEW for this year - Aimed at higher level staff issues and planning
  • Qualified Business Income - Coverage of 199A including the real estate safe harbor, wages, basis in assets, and so on
  • A tour of the most recent forms changes, starting from gross income and ending with alternative minimum tax (AMT) and selected credits including the latest IRS guidance on significant recent tax legislation
  • How will clients (and practitioners) interact with the IRS in the future?
  • Hot, hidden, or miscellaneous developments affecting the upcoming tax season Things your parents taught you?
  • Utilizing the ABLE program
  • Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas
  • Form 6198 - At-risk basis: Detailed case study and discussion of how this form is to be used and when it needs to be filed; learn how basis and at-risk basis are different, and why this is significant
  • Form 6252 - Installment sale income: A common tax area; however, a case study and discussion of this topic includes advanced issues such as gain on reacquisition of installment sale property, including worksheets on calculating gain & tax basis of reacquired property
  • Form 5329 - Additional taxes on qualified plans: Advanced study of how to avoid penalties

COURSE LEVEL

Advanced

PREREQUISITES

Basic to intermediate-level experience in preparing Form 1040.

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