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Tax Credits for Individuals 1.5 Credits

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Learning Objective

  • To review the available tax credits for individuals. 
  • To recognize the nonrefundable and refundable tax credits.
  • To discuss various tax credits.
  • To know how to apply the ordering rules to the tax credits.
  • To explain and illustrate the reporting requirements for these credits.

Course Overview

Navigating the intricate world of personal and business taxation requires a keen understanding of the various tax credits available. 

Tax credits offer a more advantageous position for taxpayers compared to deductions, as they directly reduce the tax liability on a dollar-for-dollar basis. This is in contrast to deductions, which only lower the tax liability by the marginal tax rate. Additionally, it's important to note the existence of refundable tax credits, which could potentially lead to a negative income tax for the taxpayer.

Adding to the complexity is the prioritization of tax credits claimed by taxpayers, underscoring the importance of comprehending the value each credit brings to individual taxpayers. In this CE Tax Course, we will dive into the intricacies of tax credits applicable to individual taxpayers specifically for the 2023 tax year. By shedding light on these credits, participants will gain valuable insights into optimizing their tax positions, navigating the nuanced landscape of tax regulations, and making well-informed financial decisions in the upcoming tax season. 

Major Topics Covered:

  • Refundable Tax Credits and Non-Refundable Tax Credits
  • Earned Income Tax Credit
  • Child Tax Credit and Additional Child Tax Credit
  • Act § 311 SECURE 2.0 Act - Qualified Birth or Adoption Distribution Provision
  • Electric Vehicle Credit
  • Credit for the Elderly or Disabled

Join this CPE Webinar by Tony Curatola to uncover strategies and nuances that can significantly impact individual tax liabilities for the year ahead.

  • 1.5 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1.5 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01815-23-S)
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-01815-23-S)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1455)
  • 1.5 CPD Credit of Taxes for Personal Financial Specialist (PFS)
  • 1.5 CE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01815-23-S)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01815-23-S)
  • 1.5 CE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 1.5 CE Credit of Taxes for Chartered Life Underwriter (CLU)
  • 1 CE Credit of Federal tax-related matters for LTC (Approval No. GEHNZ-T-01815-23-S)
  • 1.5 CE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 1.5 CE Credit of Taxes for Wealth Management Certified Professional (WMCP)
  • 1.5 CE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 1.5 CPE Credit of Taxes for Iowa Licensed Public Accountant (IA-LPA)
  • 1.5 CE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 1.5 CPE Credit of Taxes for Maine Licensed Public Accountant (ME-LPA)
  • 1.5 CPE Credit of Taxes for Delaware Licensed Public Accountant (DE-LPA)

  • 1.5 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1.5 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01815-23-O)
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-01815-23-O)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1455)
  • 1.5 CPD Credit of Taxes for Personal Financial Specialist (PFS)
  • 1.5 CE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01815-23-O)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01815-23-O)
  • 1.5 CE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 1.5 CE Credit of Taxes for Chartered Life Underwriter (CLU)
  • 1 CE Credit of Federal tax-related matters for LTC (Approval No. GEHNZ-T-01815-23-O)
  • 1.5 CE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 1.5 CE Credit of Taxes for Wealth Management Certified Professional (WMCP)
  • 1.5 CE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 1.5 CPE Credit of Taxes for Iowa Licensed Public Accountant (IA-LPA)
  • 1.5 CE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 1.5 CPE Credit of Taxes for Maine Licensed Public Accountant (ME-LPA)
  • 1.5 CPE Credit of Taxes for Delaware Licensed Public Accountant (DE-LPA)

Additional Information

Credits

1.5

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Tony Curatola
Tony Curatola

Joseph F. Ford Professor of Acct’g & Tax, Drexel University

  • 4.6
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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.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course 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.

How are credits reported to governing bodies?

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.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

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.

Are the live webinars approved by NASBA and other regulatory bodies?

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.

What are the requirements to maintain compliance with live webinar courses?

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.

How can I access my webinar completion certificates?

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.

How are credits reported to governing bodies?

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.

Ratings and Review

4.6

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Owen Mccafferty
Owen Mccafferty, CPA (US)

Professor Curatola methodically reviewed the history and current standing of Individual Tax Credits as well as speculated on the probability of change or continuance of these credits. I deeply appreciate his style of presentation. Thank you!

KL

Kenneth Lindow, CPA (US)

I found the webinar to be very organized and detailed about available tax-credits for individuals. It was very educational.

Inclusions
  • Multiple Credits
    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    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 - fastest in the industry.

  • Credit Tracker
    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault
    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders
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    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access
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  • Live Support
    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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