Self-Study

Reviewing Individual Tax Returns: What Are You Missing

  • Tuesday, May 1, 2018 – Thursday, April 30, 2020

  • 4.5
    CREDITS
    Taxes

This CPE course discusses common errors practitioners make on individual tax returns that are often missed by review staff. The intent is to sharpen skills for reviewers by examining case studies and discussing issues where additional information from the client may be warranted and areas of tax law where proper treatment requires additional analysis and information. Multiple issues will be discussed including pass-through K-1s, home office issues, hobby losses, rental property, hiring spouses, depreciation, 179 issues, amortization and more! This CPE course follows a highly illustrative case study format to increase your comprehension and retention.

Objectives

  • Identify potential errors or omissions of information on tax returns
  • Recognize planning opportunities for your clients based upon information reported on a tax return
  • Determine the proper tax treatment for certain rental property activities
  • Apply IRC regulations to losses on time share and vacation properties
  • Analyze the effect a home office deduction has on depreciation recapture
  • Determine the proper tax treatment for various start-up costs by a new business
  • Identify allowable depreciation options for automobile expenses
  • Recognize the possibility that clients may not being disclosing all of their reportable income
  • Determine proper tax return reporting of a like-kind exchange transaction
  • Identify potential employee vs. independent contractor misclassification on client tax returns
  • Analyze the effect like-kind exchanges have on future depreciation expense deductions

Highlights

  • Time Share Properties
  • Home Office
  • Hobby Losses
  • Margin Interest
  • Self Employed Health Insurance
  • Business Start-Up Costs
  • Depreciation
  • Unreported Income
  • Shared Responsibility Payments
  • Schedule C
  • Like-Kind Exchanges
  • Self-Employment Tax
  • Section 1202 Stock
  • Charitable Contributions of Property

Additional Information

Designed For

Taxes, Income

Vendor

American Institute of CPAs

Field of Study

Taxes

Course Number

18AIS0023

Level of Knowledge

Intermediate

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