Advanced Individual Income Tax Return Issues Webcast [STRI]

Jan 25, 2021
Time: 8:30am - 4:00pm



Credit Hours:



Member: $295.00
Non-member: $445.00

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Discussion Leader:

Susan Smith, CPA    more info

Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences. Smith was a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She was an associate adjunct professor at Widener University in the master's taxation program. Her ratings have consistently exceeded 4.7 on a scale of 5.0. Smith is a two-time recipient of the James L. McCoy Discussion Leader of the Year Award for excellence in teaching. Smith earned her Bachelor of Business Administration degree with an accounting concentration, from the University of Toledo.

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Website registration for this course closes on January 24, 2021. To register after this date please contact the society at or 907-562-4334.

Full Description

Surgent's Advanced Individual Income Tax Return Issues Webcast (STRI)

January 25th, 2021 / 8:30 am 4:00 pm Alaska Time

Most CPAs have been preparing individual income tax returns for years, and while many of the returns are easy, there are always a number of issues that come up in busy season of which experienced practitioners wish they had more knowledge. This course is designed to explore the tough tax issues for practitioners and help them provide better planning strategies and results for their higher income clients.

Major Topics:
- New issues for the current year tax return and 199A
- Installment sales understanding the complicated issues
- Form 8582: Passive losses with carryovers Complicated case with filled-in forms
- Puts, calls, straddling, and unusual investments Understanding the tax laws and reporting them correctly on the tax return
- Capital gain and loss issues The problem with proper reporting of installment sales issues; capital gains and losses; when is a stock worthless; and much more
- At-risk rules: What a return preparer really needs to know
- Passive loss issues You can't just trust your software. What to watch out for and the questions you need your clients to answer in order to do it right!
- Incentive and nonqualified stock options Reporting; key strategies for planning; dealing with the alternative minimum tax
- Alternative minimum tax Understanding it; planning strategies to avoid it; using the minimum tax credit; explaining it to a client
- Form 6251: Detailed calculation example

Learning Objectives:
- Understand the basics of 199A
- Understand how to properly report advanced transactions in financial instruments and investments
- Understand the special problems and new issues for the current return
-Identify the causes of alternative minimum tax liability and what can be done to reduce or eliminate it

Designed For: CPAs and accounting professionals who want and need an in-depth knowledge of the most difficult individual income tax return issues

CPE Credits: 8, Taxation

Level of Knowledge: Advanced

Prerequisite: Experience in preparation of individual income tax returns

Acronym: STRI

Discussion Leader: Susan Smith, CPA