U.S. Individual Taxation course

As a tax professional, you know that tax planning is vital to providing excellent client service. You also know that it can be challenging to keep up with the many changes in tax law.

This course will give you a strong foundation in the core skills necessary for providing individual client service, including how to use concepts during tax planning to reduce taxes for individual clients.

You'll learn about primary and intermediate individual client services, including these areas of focus:

The tax planning process -
The different types of taxes that apply to individuals
How to use tax concepts to reduce taxes for individual clients

The course is bundle of three individual online courses

Individual Tax Fundamentals
Intermediate Individual Taxation
Individual Tax Planning

Who will benefit from this in-depth training on individual income taxes?

Tax professionals seeking a more comprehensive understanding of the tax code will find this course extremely beneficial.

Are you looking to maximize your tax benefits in these areas?

Sales of capital gain assets
Stock options
IRA conversions
Divorces
Self-employment
College planning

Individual Tax Fundamentals

As a tax professional, you know that your client's needs change over time. To keep up with your client's evolving needs, you must be responsive and adaptable. One way to do this is by offering tax-saving strategies to help your clients save money.

The Internal Revenue Code (IRC) is a complex document. It can be challenging to keep up with the latest changes and find the most current tax-saving strategies for your clients.

This course decodes the IRC for individual taxpayers. In this course, you'll learn about the impact of the latest tax legislation and IRS guidance, including the American Rescue Plan Act of 2021. You'll also get a foundation in the federal tax arena for individuals so you can better advise your clients.

Intermediate Individual Taxation

Congress's frequent legislative changes to the Internal Revenue Code have many individuals and closely held businesses highly focused on the impact of taxes and tax rates on their financial well-being.

Become up to date on tax law changes, Tax Court decisions, and the latest IRS guidance, as well as the latest comprehensive tax-planning strategies to preserve your clients' wealth.

Show your clients how you are protecting themselves from higher taxes and ensure your role as a trusted advisor.

Individual Tax Planning

The U.S. Congress' constant legislative changes to the Internal Revenue Code have many individuals and closely held businesses highly focused on the impact of taxes and tax rates on their financial well-being.

As a result, it is essential for tax professionals to stay up to date on tax law changes, Tax Court decisions, and the latest IRS guidance.

In addition, tax professionals should be aware of the latest comprehensive tax-planning strategies to preserve their clients' wealth.

By staying up to date on these matters, tax professionals can show their clients how they protect themselves from higher taxes and ensure their role as trusted advisors.

Key Topics

Medicare surtax on net investment income
Dividends, interest, and planning opportunities
Compensation issues, deferred plans, and fringe benefits
Distributions from IRAs and other qualified plans
Gross income exclusions
Passive losses
Travel and Entertainment
Depreciation and amortization
Gain and loss recognition and basis rules
Property transactions — capital vs. ordinary income
Itemized deductions
Tax computations and tax credits
Maximizing tax benefits for sales of capital gain assets and real property
Planning for employer stock options, employer stock held in retirement accounts, and restricted stock
Roth IRA conversions, withdrawals, retirement planning, and estate planning
Maximizing tax benefits for personal residence transactions
Tax planning opportunities with vacation homes, timeshares, and co-ownership arrangements
Tax planning for marital splits and married same-sex couples
Self-employed planning to reduce Social Security and Medicare taxes
Self-employed health benefits strategies
Tax-smart college financing for middle-class clients and high-income clients, and procrastinators

Learning Outcomes

Identify how to apply the latest changes when preparing federal individual income tax returns.
Recognize how to advise individual clients on new developments and tax-saving ideas.
Determine when selling capital assets, business assets, and real estate are to a client's advantage.
Recognize like-kind exchange rules under Section 1031.
Identify ways to advise clients on how to minimize taxes on employer stock options and employer stock held in qualified retirement plan accounts.
Differentiate between incentive stock options (ISOs) and nonqualified stock options (NQSOs).
Determine ways to help clients obtain maximum tax savings from the vacation home and timeshare properties.
Differentiate between the rules for "regular" vacation homes, timeshares, and co-ownership deals.
Determine appropriate federal income tax advice for clients who are separated, divorced, or divorced.
Recall ways to help middle-class clients identify college financing tax breaks.
Identify tax-saving college financing maneuvers for higher-income clients who are ineligible for the well-known education tax breaks.
Identify strategies of husband-wife businesses that will reduce Social Security and Medicare taxes.
Identify strategies for how parents can employ their children through their closely held businesses.

Course outline

CPE Credits	47.5
Prerequisite	IBasic knowledge of individual income taxation. It is recommended that you complete each certificate in sequential order as the content presented in each certificate builds on training in previous certificates.
Format:	Course materials - Self-paced Online. US Individual taxation course
Access:	This is a digital product. You will have access to the content for 2 years after purchase date.

U.S. Individual Taxation course by AICPA