All You Need to Know About Kiddie Tax 1 Credit
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The "kiddie tax" is the tax on a child's unearned income.
Beginning in 2020, the reporting rules revert to the pre-2018 rules, which means some or all of the income may be added to the parent's taxable income to determine the child's tax liability.
There are pros and cons to reporting the child's income on the parent's return, if eligible. "The advantage is convenience, but there are disadvantages such as potentially exposing the child's income to the net investment income tax, loss of the child's itemized deductions, and a small increase in tax on capital gains and qualified dividends.
This CE Tax Webinar will highlight the tax reporting issues associated with the unearned and earned income of a child by the child and parents.
Key topics covered in this CE course:
This online CPE course will cover a few examples to provide a better feel for the complexity and impact of these taxation rules. It ends with some planning tips and strategies for avoiding the kiddie tax.Â
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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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Dr. Curatola is the Joseph F. Ford Professor of Accounting at Drexel University in Philadelphia. He is the Tax Column Editor for Strategic Finance since 1992. He has served as the editor of the Journal of Legal Tax Research and currently serves on the editorial review board of several journals, and has held a variety of leadership positions, including current national service with the Institute of Management Accountants. He has published over 250 articles in journals including Journal of Financial Services Professionals, Journal of the American Taxation Association, Journal of Forensic & Investigative Accounting, Oil, Gas, & Energy Quarterly, and Tax Notes to name a few. Dr. Curatola was a co-editor on IRA Answer Book by Wolters Kluwer and author of the EA Review course for Surgent Publishers. Dr. Curatola externally funded research findings have appeared in media such as Forbes Magazine, The Washington Post, The Wall Street Journal, The New York Times, and other media outlets.
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To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
KK
The presenter was very knowledgeable about the specialized subject and did a very nice job of conveying that to the participants taking in the webinar class. I enjoyed this subject and was able to better understand how it works.
DR
The session was very informative. The tax laws are very complex on kiddie tax and the speaker is correct on letting the tax program handle the calculations required for filing.
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