- NY Credits : 8.0
- TX Credits : 8.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 8.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax Update - 8.0
The course, 2018 Individual Tax Update, provides an overview of various individual income
tax issues including the impact of the most recent legislation. Individual topics include gross income, sales and exchanges, deductions, tax credits, withholding, tax returns, payment and alternative minimum income tax. This course is comprehensive with authoritative references, examples, rules, limitations, and exceptions. NOTE: This course has been updated for the relevant provisions of the Tax Cuts and Jobs Act. This course is most beneficial to professionals new to individual income taxes, or for those more advanced professionals needing an update for the current tax laws.
Upon successful completion of this course, the user should be able to:
determine key tax items taking into consideration special rules on unearned income of young individuals and employee benefits;
recognize income from a variety of sources;
determine the basis of property as well as any gain or loss upon conversion of the property;
identify capital gains and losses, and the netting process;
recognize appropriate standard and itemized deductions;
determine the tax benefits related to retirement contributions, medical and health savings accounts and education expenses;
distinguish between refundable and nonrefundable credits;
recognize personal credits, tax withholding requirements, estimated taxes and tax filing responsibilities; and
identify the basic structural and computational elements of the alternative minimum tax.