Description

Strategies to help return reviewers quickly identify common errors that practitioners make on individual tax returns.

Target Audience

- CPA Firm partners and managers tasked with reviewing individual tax returns

- CPA Firm staff tasked with preparing individual tax returns

- CPA sole proprietors specializing in individual taxation

Course Objectives

- Determine the proper tax treatment for certain rental property activities.

- distinguish between hobbies and businesses.

- Identify the warning signs that A Client might have unreported income.

- Determine proper tax return reporting of A like-kind exchange transaction.

Subjects

- Qualified business income deduction

- Hobby losses

- Self-employment health insurance

- Business start-up costs

- Depreciation

- Schedule C issues

- Like-kind exchanges

- Clean vehicle credit

Prerequisites

Experience with individual tax return preparation