Description:
Many of your clients will have supplemental income from sources like rental real estate, partnerships, trusts, estates, and royalties. How do you report that income? This course will give you a better understanding of Schedule E, as well as rental and other income sources, which income must be reported, and which losses and deductions are allowed.
The SECURE Act 2.0 contains a wide range of provisions that become effective over several years designed to encourage retirement savings, help ensure the sufficiency of retirement funds, bring additional clarity and transparency to retirement plan rules, and increase federal revenue.
This course will discuss the various provisions of the Act, beginning with those provisions that are immediately effective and followed by those that become effective in subsequent years. Appropriate context is added to facilitate understanding of the pre-enactment environment and the impact of the legislative changes.
Revision Date: April 2024
Description:
Is your client selling their home? Is the home a primary or secondary residence, a business or rental? Are there short-term or long-term gains or losses to calculate? The various rules that apply to the sale of a home are explained in this course, along with details on proposed legislation that may affect tax years 2023 and beyond.
Description:
How did Social Security become the program that exists today? Which benefits are offered by the program? What are the implications when preparing tax returns? What are some common related financial planning considerations? This course helps tax professionals better understand the scope of the Social Security program, as well as how it affects their clients.
Description:
Gain an overview of standard and itemized deductions, including new rules applying to the TCJA and the CARES Act. As the standard deduction is a basic deduction, most of the information in this course is centered around the different itemized deductions.
Last Revision: March 2024
Description:
Why does basis matter for a shareholder in an S Corporation? The ability of the shareholder to calculate deductions involving the corporation on a personal tax return is limited by the taxpayer’s basis in the corporation. This webinar discusses how to properly document S corporation basis in order to support losses and deductions claimed on shareholder’s individual returns.
Description: BUNDLED COURSES! So many ways to structure a business – so many tax implications. Whether your clients are a corporation, an S corp, or a partnership, we’ve got you covered. We’ll give you background on the various structures, some key tax implications, and guidance on how to complete the right forms and schedules.
Buying these three courses as a package will also save you money! Buy all three together and save $12 off the regular price!
Description:
This course examines the taxation of individual retirement arrangements (IRAs). In so doing, it discusses traditional and Roth IRAs, addressing the federal rules concerning: contribution limits and tax treatment; tax treatment of traditional IRA distributions, including regular, early and lifetime required minimum distributions; tax treatment of qualified and nonqualified Roth IRA distributions; required distributions at death; and IRA rollovers.
Revision Date: March 2024
Description:
This course discusses the income tax treatment of death benefits and living proceeds from life insurance contracts. It considers the statutory definition of life insurance contained in Internal Revenue Code §7702 and the tax consequences of a life insurance contract’s failure to meet the definition. It also addresses the general rules governing the taxation of life insurance policy death benefit proceeds and examines the consequences of: a transfer for value; inclusion of a policy in a qualified plan; corporate-owned life insurance; and the payment of death benefits under a settlement option. The course also discusses the tax treatment of proceeds received under viatical settlements and accelerated death benefits.
In addition, it considers the modified endowment contract (MEC) rules, the tax consequences of a life insurance policy’s MEC status, the tax treatment of policy loans, withdrawals and surrenders and the tax treatment of proceeds received under life settlements.
Revision Date: March 2024
Description:
We discuss the federal income tax treatment and limitations related to qualified employee plan contributions and distributions, as well as commercial annuity contracts.
Revision Date: March 2024
Description:
We discuss the federal income tax treatment and limitations related to qualified employee plan contributions and distributions, as well as commercial annuity contracts.
Revision Date: April 2023
Description:
The Tax Cuts and Jobs Act of 2017 (TCJA), signed into law during the closing days of 2017, affects the tax planning and income tax liability for many taxpayers. Among those for whom the TCJA will have a more significant effect are business owners of pass-through trades or businesses who may be eligible for the TCJA’s pass-through deduction. The Section 199A Pass-Through Deduction course examines this deduction.
Revision Date: April 2024
