The Best Individual Income Tax Update Course by Surgent (BITU)

Overview

Timely coverage of breaking tax legislation. Foreign Tax Credit considerations. Schedules K-2 and K-3 reporting requirements and transitional filing relief. Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations. Donor Advised Funds. Residency and Domicile. Selling a principal residence, including tax planning strategies. A comprehensive overview of  virtual currency, including important tax considerations in light of increased IRS scrutiny. The SECURE Act 2022 Proposed Regulations. Real Estate professional requirements. The Independent Contractor vs. Employee Conundrum continues - Department of Labor Final Rule reinstated. State of the IRS - plans to reduce the backlog of returns due to COVID-19. Review of pertinent cases and rulings affecting taxpayers. Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more. Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas.

Objectives:

Understand strategies and tactics to use in light of new legislation. Understand the most current guidance on retirement planning. Understand how to nail down valuable deductions and other reductions to the tax base.

Designed For:

All tax practitioners, both those working in public accounting as well as those in private industry, who need the latest information on tax changes affecting their individual clients.