- 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
The Tax cuts and Jobs Act impacted many parts of individual taxes. This interactive course explores various tax strategies, 49 tips in all, to assist you in guiding your clients in tax planning and filing. First, Chapter 1 includes various tax tips for investors, such as taking advantage of the lower capital gains tax rates and managing losses and carryovers; Chapter 2 covers tips regarding retirement accounts, specifically IRAs and Roth IRAs; and Chapter 3 discusses tax tips that apply to real estate investors and homeowners. Next, Chapter 4 delves into education expenses. Then, Chapter 5 includes tips for families, such as work-related tax savings, supporting a relative, and medical expense deductions for continuing care facilities. Lastly, Chapter 6 presents estate and gift tax tips. 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.