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Seminar

Individual Tax Workshop - Two Day (894)

Register for this course:

The meeting times for this class are in the past. Please check here for additional meeting times.

Meeting Times:

Tuesday, December 27, 2022 8:30 AM - Wednesday, December 28, 2022 4:30 PM
The meeting time above is expressed in MOUNTAIN TIME, which is:
Eastern Time:
10:30 AM - 6:30 PM
Central Time:
9:30 AM - 5:30 PM
Pacific Time:
7:30 AM - 3:30 PM

Price:

This course is in the past and can no longer be purchased.

Location:

Internet Course - Live Streamed

Delivery Method:

Group Internet Based

Credit Hours:

13.0 IRS Federal Tax Law MF2AY-T-01251-22-O
3.0 IRS Federal Tax Update MF2AY-U-01252-22-O

CTEC Credits:

16.0 3 Federal Tax Update & 13 Federal Tax Law 1066-CE-0014

Field of Study:

Taxes - Technical (Individual Income Taxation)

Course Level:

Intermediate

Prerequisites:

Experience in individual taxation

General Description:

Participants will review the rules, regulations, and forms required for the filing of the individual income tax return. This two-day program will use the Form 1040 to highlight commonly encountered problems.

Learning Objectives:

After completing this course the participant will be able to:

  • Discuss the latest changes and legislative developments affecting individuals, including the Inflation Reduction Act as it affects the solar credit, insulation credit, new and used electric vehicles, and charging stations.
  • Calculate the Kiddie Tax and complete Form 8615 and Form 8814.
  • Calculate depreciation, including bonus depreciation, half-year and mid-quarter conventions, and §179 additional first-year depreciation.
  • Determine the tax effect of transfers of property in a divorce or separation, filing status, and which parent is entitled to the child care credit and child tax credit.
  • Determine the deductibility of travel and entertainment expenses.
  • Calculate the deduction under §199A for qualified business income.
  • Calculate alternative minimum tax and identify individuals likely to be affected by AMT.
  • Discuss capital gains and losses, sale of business property and Form 4797, sale of principal residence, like-kind exchanges and Form 8824, installment sales and Form 6252, basis.
  • Describe filing requirements, including penalties and payments of estimated tax.
  • Calculate itemized deductions, including qualified residence interest, charitable contributions, miscellaneous itemized deductions, and nonbusiness casualty losses for a presidentially declared disaster area.
  • Explain the deductibility of losses, including passive activity losses, vacation homes, office in the home, and hobby losses.
  • Describe the tax effect of contributions to and distributions from qualified plans, including IRAs, penalty taxes, and the required minimum distributions where death occurs after the RBD.
  • Determine if income is subject to self-employment tax and the effect of CCA 202151005.
  • Describe the requirements for filing Form 1099s and penalties for noncompliance.
  • Calculate common refundable/nonrefundable credits.

Instructors:

Mark A. Vogel is a retired professor and director of the University of Denver Graduate Tax Program, where for 38 years he taught courses in individual, fiduciary, tax accounting, partnership, and corporate taxation. He is the author of Divorce Taxation Guide (John Wiley & Sons) and Individual Taxation (Shepards/McGraw-Hill). He received a J.D. and LL.M. in Taxation from the University of Denver College of Law and an undergraduate accounting degree from the University of Notre Dame. He is also a CPA licensed in Illinois.

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