Mid-Year Tax Strategies: Planning for Individuals

Overview

This course is designed for tax practitioners looking to enhance their knowledge of individual income taxation and provide clients with solid tax planning advice before year-end. The course offers an in-depth review of Form 1040 issues, ensuring participants are up to date on the most current tax year matters. In addition, the course will cover changes in the Internal Revenue Code (IRC) made so far and will help practitioners anticipate any future adjustments by the current administration.

Participants will learn how to navigate key tax issues, including legislative updates and practical strategies for tax, financial, estate, and retirement planning. With a comprehensive approach, this course equips practitioners with the tools they need to guide clients through changes in tax laws and potential impacts on their financial decisions

Highlights

• Legislative changes affecting individual tax planning
• Income, deduction, and credit planning strategies
• Form 1040 issues: divorce, death of a taxpayer, and status updates
• Compensation, fringe benefits, and Social Security updates
• Foreign reporting, resident alien, and cryptocurrency tax matters
• Capital gains, Kiddie Tax, and related deductions

Prerequisites

Basic understanding of individual taxation.

Designed For

CPAs, EAs, attorneys, financial planners, insurance agents, and bankers

Objectives

At the end of this course the participants will be able to:

• Discuss major changes to the Internal Revenue Code due to recent legislation.
• Identify tax planning strategies for their clients in light of new legislation.
• Update client financial, estate, and retirement plans based on new tax rules.
• Analyze potential tax changes from the current administration and their implications.
• Recognize key issues related to Form 1040 filings, including status, deduction, and credit updates.
• Advise clients on capital gains, Social Security, and compensation/fringe benefits planning.

Notice

All materials will be available to download in advance and participants will receive an email two days prior to the course date. Materials will also be posted in the “My CPE” section of the NESCPA website.