2024 MSCPA Annual Convention: Details

Reviewing Individual Tax Returns

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Friday, August 23, 2024 @ 9:00am 11:00am
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Description

The sheer mass of Internal Revenue Code provisions affecting individual taxpayers presents a considerable challenge for CPAs and tax professionals. These provisions combined with the potential for input error when utilizing the array of income tax software available, create the potential for a multitude of errors that can occur when preparing your client's tax return. Join us as we discuss the common mistakes practitioners make when preparing individual tax returns that are often missed by review staff. Refresh and hone your skills with interactive case studies that examine individual tax returns. Learn about issues that may warrant additional client information and about areas of tax law that require deeper analysis. This course follows a highly illustrative case study format to increase participant comprehension and retention.

Prerequisites

Basic knowledge of individual income taxation

Highlights

Passive-activity losses Qualified business income deduction Home office Schedule C activity and hobby losses Business startups and deductions Alimony Discharge of debt

Objectives

  • Identify potential errors or omissions of information on tax returns.
  • Recognize planning opportunities for your clients based upon information reported on a tax return.
  • Determine the proper tax treatment for certain rental property activities.
  • Determine the proper tax treatment for various start-up costs by a new business.

Credits

Category Amount
Taxation 2.00