INBB THE TOP 50 MISTAKES PRACTITIONERS MAKE AND HOW TO FIX THEM: INDIVIDUAL TAX AND FINANCIAL PLANNING
The best laid plans of mice and men often go astray, the same is true for taxpayers. Every practitioner has been confronted with a client who had a different twist on a tax idea. This course focuses on the law in order to break down 50 situations in which a taxpayer has attempted to push one of these ideas. The study of the law underlying the tax mistakes made will assist practitioners in satisfying their professional standards of practice and will help you in preparing Form 1040.
Complete coverage of recent tax acts and any new legislation enacted before presentation
Individual income tax cases regarding income, adjustments, passive activities, and itemized deductions
Problems with a $10 million tip - It Could Happen to You
No deduction for donating a house to fire department
The last known address rule
Failing to Coordinate Pell grants and other scholarships
I want to protect my identity, but I also need to protect my PTIN
Failing alimony’s written instrument requirement
Failing to understand the limits on 401K loans
Bankruptcy trustees going after IRAs
Not all forgiven principal residence debt is excludable
Passive income and the self-charged rent rules
Office of Professional Responsibility (OPR) – What are they saying now?
Can I issue a 1099-C to my non-paying clients?
Meal allowances for police or fire workers on 24-hour shifts
Estimated taxes, the big penalties, and planning
Financial Planning: Ignoring the future of Social Security; Miscues in rollovers & retirement plan distributions, The bad, the good, and the ugly of early retirement SEPPs
Things professionals do not like to hear!
Achieve significant insight into the major mistakes that can be made in individual tax and financial planning
Develop strategies that will assist in not only avoiding mistakes but also in providing the best advice to your clients
Designed For: CPAs who wish to get a deeper insight into the tax law for some common client transactions that many offices have seen, plus some not-so-common client transactions Level of Knowledge: Intermediate Prerequisite: Basic knowledge of individual income taxation Advanced Preparation: None Credits: 8 Field of Study: Taxes(8) CFP Credit: No