Description

This highly informative course will bring you up-to-speed on the latest in individual tax law developments and the corresponding or responsive planning opportunities available to your clients. You will come away from the course ready to educate your individual tax clients and implement tax-savings ideas that will serve their ever-evolving needs. Continually updated to reflect enacted legislation. Please Note: Due to content overlap, it is recommended that this course NOT be taken together with BFT4.

Target Audience

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

Course Objectives

• Understand strategies and tactics to use in light of new legislation

• Understand how to nail down valuable deductions and other reductions to the tax base

Subjects

• Comprehensive coverage of individual provisions of the One Big Beautiful Bill Act, including but not limited to:

• TCJA provisions made permanent

• New tip income deduction

• New overtime pay deduction

• New car loan interest deduction

• New temporary senior deduction

• Expanded SALT cap

• Trump Accounts

• Real Estate professional requirements

• 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

Prerequisites

Experience in individual tax planning