The Tax Cuts and Jobs Act of 2017 made major changes to the Federal tax laws impacting individuals. Are you ready for the filing season? This course provides participants with critical Federal tax law updates resulting from current laws, regulations and court cases impacting individuals. Critical topics to be covered include the new qualified business income deduction, expansion of the child credit and standard deduction, elimination of several deductions, "Excess Business Loss" restrictions and the changes to the Estate and Gift Tax and much more.
Identify the major federal income tax laws impacting individuals as well as changes to Form 1040 and other related schedules and forms.
Recognize any new legislation passed by President Trump and IRS guidance affecting individual income tax returns.
Identify the Affordable Care Act (ACA) income tax provisions that were repealed and retained.
Detailed coverage of any new individual income tax law signed by President Trump.
Review the ACA taxes, penalties and credits repealed and retained.
Look at any changes to the Form 1040 and other related schedules and forms.
Cover issues related to the various taxes, i.e., income, capital gain, self-employment and alternative minimum tax (AMT).
Review changes to depreciation, itemized deductions, adjustments to income, passive activities and tax credits.
Designed For: Tax accountants in public or private practice in need of a federal individual income tax update.
Instructor: Troy Lewis, CPA, MACC, CGMA
CPE Credits: 8
Area of Study: Taxes
Prerequisite: Basic knowledge of individual income taxation.