Individual Tax Fundamentals - Tax Staff Essentials

Description

Recent legislation, including the SECURE Act, SECURE 2.0, and the Inflation Reduction Act, has kept the federal individual tax arena on its toes. This course provides up-todate information on critical tax issues affecting individuals with a focus on compliance and tax planning strategies. Join us for this fast-paced, real-world session and make yourself look like a hero in the eyes of your clients. Course materials include the latest legislative and IRS guidance on the latest key tax topics.

Highlights

• Filing requirements and personal exemptions
• Gross income inclusions, exclusions, and adjustments
• Standard and itemized deductions
• Tax credits
• Tax provisions for high-income taxpayers
• 3.8% net investment income tax
• Roth IRA, IRA, and retirement plan options
• Section 199A qualified business income deduction

Objectives

• Identify individual retirement account (IRA) and qualified plan distributions.
• Recognize the taxation of virtual currency.
• Recall how health savings accounts {HSAs) work.
• Recall the self-employed health insurance deduction.
• Recall the deductibility of charitable contributions.
• Recall the steps to figuring the qualified business income deduction under Section 199A.
• Recall the net investment income tax {NIIT) on unearned income.

Designed For

CPAs working with individual tax clients

Leaders

R Wells

Robert Wayne Wells, CPA, CFE Blankenship CPA Group, PLLC/Brentwood, Tennessee

Robert Wayne Wells graduated from Austin Peay State University in Clarksville, Tennessee in 1970 with a Bachelor of Science Degree in Accounting and Economics.

Mr. Wells began his career in public accounting in 1970 with the national firm of what was then Touche, Ross & Co. in Nashville, Tennessee.

In 1974, he joined a local firm in Nashville. This firm provided accounting, auditing, fraud investigations, and tax services to small and medium size businesses as well as extensive tax services to individuals. After a total of over 45 years experience, he is today a Principal with Blankenship CPA Group, PLLC in Brentwood, Tennessee.

Mr. Wells annually instructs numerous continuing education seminars and in-firm training classes all over the US for the major continuing education providers in the areas of accounting, auditing, fraud, and taxation. Mr. Wells is a recipient of the 2013 Outstanding Discussion Leader Award presented by the Tennessee Society of Certified Public Accountants and the 2014 Outstanding Discussion Leader Award presented by the American Institute of Certified Public Accountants.

Mr. Wells holds a Certified Public Accountant certificate in Tennessee, and is also a Certified Fraud Examiner. He is a member of the Tennessee Society of Certified Public Accountants, the AICPA and the Association of Certified Fraud Examiners.