Gear Up

Course Detail

1040 Individual Tax - 2021 (Live Online Seminar)  

CATEGORY: Taxation
  Live Online Seminar
16 CPE Credits
Level: Basic

This comprehensive course covers key tax issues for completing complicated individual returns including family return issues, taxpayers with investments, retirement income, the sole proprietor, and business and rental activity owners. Stay current with in-depth coverage of recent legislation, case law developments, and relevant notices, announcements, revenue rulings and procedures.  Speakers are all practicing preparers who share practical tips to help you get ready for this tax season. Coverage includes:  

  • Economic impact payments (EIPs) (also known as recovery rebate credits) – 2021 and round three.
  • The excess business loss limitation is back and here to stay for an extra year.
  • Temporary advance payments of the child tax credit in 2021 and sweeping enhancements of this popular personal tax credit.
  • Earned income tax credit – 2021 changes and beyond.  
  • Changes to the education credits and deductions and the rules associated with debt discharge
  • The rules of retirement plan accumulation and distribution  
  • Strategies to maximize personal credits – earned income tax credit and credits for sick and family leave for certain self-employed individuals.
  • The child and dependent care credit more than doubled for 2021 for qualifying taxpayers.
  • Special 2021 retirement distribution rules for qualified disaster distributions.
  • Reporting of interest, dividends, and capital gains  
  • Tax practice and taxpayer strategies to safeguard confidential taxpayer information 
  • The basics of reporting Schedule C self-employment income and expenses  
  • Recent tax legislation and its impact on an individual taxpayer’s net operating loss (NOL), including new rules for farming NOLs.
  • SBA’s PPP loan forgiveness – Schedule C or Schedule F outcomes.
  • Self-employment taxation exclusion applicable to rentals from real estate  
  • The CARES Act retroactive changes to qualified improvement property (QIP)   
  • The qualified business income deduction (QBID) under IRC Sec. 199A – an endangered species?  
  • Plus, much more

Gear Up is returning to in-person seminars during 2021 with a limited number of in-person offerings in select locations. For a listing of Gear Up sponsored in-person events click here.

CFP Board accepted. Qualifies for CFP credit.

Transfers/Cancellations  - In light of the continually evolving COVID-19 situation, we've revised our cancellation policy to afford you the flexibility to confidently pursue the education you need. Click here for policy details.

We partner with sponsoring state associations to provide both live, in-person, and online seminars. To learn where you may reach your local partners click here.

Going virtual has never been easier and a better value!

Does not apply to association or society events.     

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Course outline