Webcast: Federal & Arizona Tax Update - Individuals (Forms 1040 & 140) (Two Day Course)

Overview

With the increasing complexity and ever-changing nature of tax laws and issues, today’s accountant needs a two-day update course focusing on individual income tax issues. These issues will be discussed “head-on” alerting tax preparers of new tax forms, changes to existing tax forms, as well as tax planning opportunities and pitfalls. This is a “must-attend” course for all tax practitioners who want to get up to speed quickly to have a successful Federal & Arizona individual income tax filing season.

Highlights

This session is a comprehensive review of the Federal individual income tax provisions and tax forms/schedules that will affect the 2022 tax returns and 2023 tax projections with an emphasis on newly enacted income tax legislation, court cases, and IRS guidance. Each participant will receive a comprehensive individual income tax reference manual that includes numerous practice aids, real world examples, new Federal income tax forms and schedules, and Pat Garverick’s Quick Reference Chart. Topics include but are not limited to: - Discuss the most recent individual income tax legislation passed to date (e.g., American Rescue Plan Act, SECURE Act, CARES Act and COVID-related Tax Relief Act, Taxpayer Certainty & Disaster Relief Act and Tax Cuts & Jobs Act). - Review numerous individual income tax provisions related to business (i.e., sole proprietors and owners in pass through entities) including but not limited to the 20% qualified business income (QBI) deduction, 461(l) business loss limitations, 163(j) interest deduction limitations and depreciation. - Cover issues related and any changes to the various taxes (i.e., income tax rates, capital gain tax rates, self-employment tax and alternative minimum tax (AMT), 3.8% net investment income tax). - Brush up on other topics such as income filing status, personal exemptions, itemized deductions, exclusions from income, adjustments to income, rentals, passive activity rules and individual income tax credits (e.g., child tax credit and dependent care credit). - Look at any changes to the Form 1040 and other related schedules and forms.

Prerequisites

None

Designed For

Tax accountants in public or private practice in need of power-packed two-day Federal & Arizona individual income tax update course.

Objectives

Walk away with a understanding the Federal & Arizona tax laws impacting individuals with an emphasis on any new legislative changes. Through numerous examples, practice aids and review of the IRS tax forms, become more knowledgeable with the preparation issues related to the most common Federal & Arizona individual income tax returns.