2018-2019 Federal Tax Update (Video On Demand)

$419.00

Combining the real-life experience of a practicing CPA/EA with essential down-to-earth tax materials in a high-tech format, this powerful presentation will enable participants to quickly grasp recent tax changes. You'll receive the most complete and up-to-date reference manual, written by renowned tax experts, Vern Hoven and Sharon Kreider. The digital PDF manual is hyperlinked to the Internal Revenue Code and other primary authorities, making it extremely convenient. Join us as our world-class tax instructors share cutting-edge tax planning strategies in a high energy, often humorous presentation style using real-life experiences, which make complicated tax topics easily understandable. Specific course topics will be announced and updated through year-end.

  • Credit Hours:  16
  • NASBA Field of Study: Taxes
  • Level:  Update
  • Prerequisites: General experience in tax preparation 
  • Advance Preparation: None
  • IRS Course #: BZ8FR-U-00082-17-S
  • IRS Federal TaxUpdate Credits:  16
SKU: 2019FTUFULLVOD Categories: , ,

Course Description

Combining the real-life experience of a practicing CPA/EA with essential down-to-earth tax materials in a high-tech format, this powerful presentation will enable participants to quickly grasp recent tax changes. You’ll receive the most complete and up-to-date reference manual, written by renowned tax experts, Vern Hoven and Sharon Kreider. The digital PDF manual is hyperlinked to the Internal Revenue Code and other primary authorities, making it extremely convenient. Join us as our world-class tax instructors share cutting-edge tax planning strategies in a high energy, often humorous presentation style using real-life experiences, which make complicated tax topics easily understandable. Specific course topics will be announced and updated through year-end.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Identify the significant provisions, important implementation dates, and unique aspects of TCJA.
  • Cite form changes which will be in effect for 2018.
  • Identify new developments in income tax reporting and planning.
  • Cite the requirements and limitations of various tax provisions.
  • Cite various provisions, regulations, and thresholds for Social Security and Medicare.

Chapter 2

  • Review updates in COLAs and contribution limits for traditional IRAs, Roth IRAs, and Retirement Plans.
  • Summarize the main provisions and recent developments of traditional IRAs, Roth IRAs, Designated Roth accounts, Solo 401(k) plans, ROBS, NQDC Plans, ESOPs, and other retirement plans.
  • Recognize when violations have occurred in the provisions for qualified rollovers, minimum distributions, early withdrawals, qualified plan loans, and prohibited transactions.

Chapter 3

  • Review updates in COLAs and contribution limits for traditional IRAs, Roth IRAs, and Retirement Plans.
  • Summarize the main provisions and recent developments of traditional IRAs, Roth IRAs, Designated Roth accounts, Solo 401(k) plans, ROBS, NQDC Plans, ESOPs, and other retirement plans.
  • Recognize when violations have occurred in the provisions for qualified rollovers, minimum distributions, early withdrawals, qualified plan loans, and prohibited transactions.

Chapter 4

  • Review the tax law changes involving estates, trusts, and gifts.
  • Implement tax planning regarding estate and gift tax.
  • Identify the key issues in the regulations issued on the portability election.
  • Recognize important tax issues in recent court cases.

Chapter 5

  • Define the key terminology and elements of Code Section 199A.
  • Cite the various thresholds and limitations within Section 199A.
  • Identify the application of the QBI deduction for taxpayers.

Chapter 6

  • Apply legislation changes to accounting periods and methods.
  • Identify legislation changes surrounding gains and gain deferrals.
  • Recognize the need for reporting cash transactions.
  • Apply legislation changes to taxing medical cannabis.
  • Differentiate types of income and determine which are included in gross income for federal tax purposes.
  • Recognize the Cohan rule and what that means for the taxpayer.
  • Apply legislation changes to entertainment expenses.
  • Identify legislation changes to listed property.
  • Understand the requirements surrounding per diem.
  • Identify new legislation on business interest deductions.
  • Identify the requirements for a bad debt deduction.
  • Apply legislation changes to the home office deduction.
  • Differentiate between deductible repairs and depreciable improvements and determine when to use which.
  • Implement legislation changes to §179 and bonus depreciation.
  • Detect issues surrounding hobby loss rules.
  • Apply legislation changes to net operating losses.
  • Identify legislation changes to start-up expenses.
  • Apply legislation changes to business credits.
  • Apply legislation changes to the Affordable Care Act (ACA) and the widespread effects.

Chapter 7

  • Compute the new Family Leave Credit and the R&D Payroll Credit.
  • Identify recent updates regarding information returns, delinquent payroll taxes, and the Trust Fund Recovery Penalty.
  • Recognize the impact of identity theft on taxpayers, along with recent updates on household employers and wages paid to minor children.

Chapter 8

  • Examine the tax reform changes affecting corporations.
  • Review the advantages and disadvantages of business entities.
  • Recognize trends in IRS audits of entities.
  • Identify the important issues regarding S corporations, shareholder basis and reasonable compensation, including constructive dividends.
  • Review the small business exclusion on stock sales.
  • List tax law changes that impact tax-exempt entities.

Chapter 9

  • Review TCJA changes to partnership tax law.
  • Outline changes in how the IRS audits partnerships and assesses penalties.
  • Identity how the self-employment tax applies to partnership income.
  • Recognize evidence of disguised sales between partners and partnerships.

Chapter 10

  • List the additional due diligence requirements added in 2018.
  • Review the changes to IRS transcripts and discover how a tax delinquency impacts passport holder.
  • Recognize recent activity at the IRS and the top 10 most litigated tax issues.
  • Develop a plan to address taxpayer identity theft.
  • Identify when Innocent Spouse Relief can be used.

Prerequisites

General experience in tax preparation.

Program Level

Update

Field of Study

Taxes

Advance Preparation

No advance preparation is required for any of the following courses. We simply recommend you save and/or print out the course manual to follow along with during the online course, and to use for future reference. In order to download, click “Course Manual” under Course Menu on the right side of your screen. When the document appears on your screen, go to File, then Save and/or Print. The manual is yours to keep! After saving or printing, simply close the screen to return to your “Course Overview” page.

Instructional Method

QAS Self-Study

CPE Credit Hours

16 Credits

Credit Hours are based, in accordance with the National Association of State Boards of Accountancy’s (NASBA’s) Standards for Continuing Professional Education (CPE) Programs, on a 50-minute hour. Upon successful completion of the exam (70% or higher), you will be presented with a printable Certificate of Completion detailing the Course Name and earned Credit Hours.

Program Registration

Simply click the “Add to Cart” button following the course description and, once you complete the order form, you will be asked to create a username and password good for one year from the date of purchase. You can change your password at any time. You will have one year from date of purchase to review the course(s) you purchase, and take the final exam. Once you pass the exam, you will have completed the course.