Individual Income Tax Update (BITU)

Overview

 This highly informative course comprehensively covers all the latest tax law developments. The focus is on individual taxation and discussion of the planning opportunities practitioners need to understand to help clients respond effectively. You will come away from the course with the up-to-date knowledge to educate your individual tax clients and implement tax-saving ideas that will serve their ever-evolving needs.

Who should attend

All tax practitioners, both those working in public accounting as well as those in private industry, who need the latest information on tax changes affecting their individual clients

Details

Objectives:

• Understand strategies and tactics to use in light of tax reform
• Understand the most current guidance on retirement planning
• Understand how to nail down valuable deductions and other reductions to the tax base

Major Topics:

• Section 461 loss limitation rules and the ability to offset income
• Revised home mortgage interest deduction
• Treatment of state and local taxes
• Virtual currency
• Opportunity Zones
• Education-related provisions
• Depreciation changes
• Rules on entertainment expenses, including meals
• Doubling of estate and gift tax exemption for a married couple
• Comprehensive coverage of the flagship item of tax reform, §199A and its alteration of pass-through taxation and planning
• Review of pertinent cases and rulings affecting taxpayers
• Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more
• The latest issues related to any other late-breaking tax law changes

e-materials

Any e-mail materials will be available for download under the Handout Tab. Hard copies will not be provided.

Advanced preparation

None

Course level

Update

Prerequisite

Experience in individual tax planning