NIT4 SURGENTS GUIDE TO UNDERSTANDING THE NET INVESTMENT INCOME TAX IN 2015
The net investment income tax is now an overriding concern to many taxpayers, particularly business owners and real estate investors. Understanding the tax is critical to comprehensive tax planning for individual clients. The NII tax base is related by complex rules to the passive activity regulations that require an in-depth understanding of election and planning issues that CPAs need to know. The IRS has been very aggressive in audits under the passive loss rules and will now expand their investigation to include the NII tax.
Understanding the implications of the net investment income tax
Pass-through entity issues and answers
Investment income, passive income, and capital gain income: separate categories create unique problems
What expenses are allowed against NII, and how do you calculate them?
Carryovers, NOLs, AMT, and other issues
Tax planning for AGI and minimization of this tax
Unique tax issues of sales of S corporation stock or partnership interests
Understand the net investment income tax
Discuss tax planning issues on these topics with clients
Designed For: CPAs in public accounting who deal with complex individual tax returns Level of Knowledge: Intermediate Prerequisite: Five or more years in public accounting working on complex individual tax returns Advanced Preparation: None Credits: 4 Field of Study: Taxes(4) CFP Credit: Yes