- NY Credits : 10.0
- TX Credits : 10.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 10.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 10.0
COVID-19 federal tax relief measures, the SECURE Act, and the Tax Cuts and Jobs Act (TCJA) impact many individual clients. This interactive course offers an array of federal tax-saving strategies and tips, 49 in all, to assist you in tax planning and compliance for individual clients in the current unsettled environment. Chapter 1 covers various tax tips for investors, such as taking advantage of the lower capital gains tax rates and managing capital losses and loss carryovers; Chapter 2 covers tax tips for retirement account owners; and Chapter 3 delivers tax-saving tips for homeowners and real estate investors. Next, Chapter 4 addresses tax tips for education expenses. Then, Chapter 5 covers tax tips for families, such as work-related tax saving opportunities, tax breaks for supporting a relative, and medical expense deductions for continuing care facilities. Finally, Chapter 6 presents estate and gift tax planning tips. This course is most beneficial for professionals new to individual taxes, who may be at the staff or entry level. This course is most beneficial to professionals new to individual taxes who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to individual taxes.
Upon successful completion of this course, the user should be able to:
identify how certain investment activities are treated for tax purposes and be able to advise your clients of certain tax advantages and disadvantages;
recognize selected tax strategies when advising clients regarding their retirement accounts;
identify how certain real estate investors and homeowners activities are treated for tax purposes and be able to advise your clients of certain tax advantages and disadvantages;
recognize tax rules and selected tax strategies when advising clients regarding education expenses and the Kiddie Tax;
identify tax saving opportunities for clients related to their employment and related to helping family members; and
recognize tax rules and selected tax strategies that can be used to advise clients regarding estate and gift taxes.