1040 Workshop for Experienced Preparers

Description:

1040 WORKSHOP FOR MORE EXPERIENCED PREPARERS

A forms-oriented discussion of the many of the important changes made by the Tax Cuts and Jobs Act in areas such as:

•  Reduction in individual income tax rates
•  Increase in the standard deduction, suspension of the deduction for personal exemptions and moving expenses
•  Enhancement of child tax credit and new family tax credit
• Modification of deduction for home mortgage interest, SALT, casualty losses, and charitable contributions
• Repeal of miscellaneous itemized deductions; reduction in floor for deduction of medical expenses
• Repeal of special rule permitting re-characterization of IRA contributions to a ROTH 
• Modification of depreciation limits for luxury autos; small business accounting method reform and simplification; modification of the deduction for net operating losses, entertainment, etc. expenses, and business interest...  and more

Highlights:

Features of 2017 TCJA which impact tax reporting and form filing for individual taxpayers.

Objectives:

Provide 1040 tax preparers with competency and confidence in understanding and dealing with nuances & implications of TCJA for clients who file Form 1040. 

Category:

TX