Intermediate Individual Taxation - Tax Staff Essentials

Overview

Tax tips and tax strategies to help your new and existing individual clients.

Prerequisites

Working knowledge of individual income taxation and Form 1040 preparation

Objectives

• Determine whether an activity is passive or active.
• Determine the allowable deductions for vacation homes.
• Recognize how material participation affects the taxation of an activity.
• Determine the amounts allowable for deducting travel and transportation expenses.
• Identify income categories and entity types that qualify for the qualified business income (QBI) deduction.
• Identify the rules for amortizing and expensing start-up costs, intangible assets, and research and experimentation expenditures.
• Identify property transaction provisions that apply to installment sales, inherited property, and other capital assets.

Highlights