Live Stream: Reviewing Individual Tax Returns - What Are You Missing?
491 | Livestream | Intermediate | Scheduled
Description
The sheer mass of Internal Revenue Code provisions affecting individual taxpayers presents a considerable challenge for CPAs and tax professionals. These provisions, combined with the potential for input error when utilizing the array of income tax software available, create the potential for a multitude of errors that can occur when preparing your client's tax return.
Join us as we discuss the common errors practitioners make on individual tax returns that are often missed by review staff. Sharpen your reviewing skills by examining case studies discussing issues for which additional information from the client may be warranted and areas of tax law that require additional analysis and information.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 4.00 | Taxes |
| 3.33 | CLE |
Designed For
CPAs working with clients requiring expertise in individual income taxation for the current tax season
Prerequisites
Basic knowledge of individual income taxation
Highlights
Common errors made involving the following tax topics:
- Section 199A qualified business income deduction
- Home office
- Hobby losses
- Self-employment health insurance
- Business start-up costs
- Depreciation
- Unreported income
- Schedule C issues
- Like-kind exchanges
- Self-employment tax
- Sections 1202 and 1244 stock
- Charitable contributions of property
Objectives
When you complete this course, you will be able to:
- 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.
- Determine the proper tax treatment for various start-up costs by a new business.
- Recognize some potential issues surrounding the qualified business income deduction and certain service businesses.
- Determine proper tax return reporting of a like-kind exchange transaction.
Prices
- Member (Early Bird)
- $179.00
- Non-Member (Early Bird)
- $229.00
- Member
- $179.00
- Non-Member
- $229.00
Instructors
Dennis Riley, CPA, MBA
Dennis Riley has more than 35 years of experience in accounting, consulting, tax preparation, and government representation. He specializes in the tax and business needs of individuals, families, and entrepreneurial small businesses.
He is a frequent lecturer on topics related to taxation and closely held businesses. He has received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills.
Riley's experience includes a range of services including negotiations with federal and state government tax authorities, offers in compromise, closing agreements, strategic business plans, litigation support, record reconstruction, business formation and dissolution, problem solving, and tax preparation. He has resolved multiple-year filing issues, organization issues, and business transition problems.
Back to Instructors