Federal Tax Update: Comprehensive Individual Tax (Form 1040)

4.4 (346)

Mike Goossen

Columns4success

Thursday, July 02, 2020 | 03:00 PM EST

  • CPA
  • EA
  • CTEC
  • TAX PROS
  • AFSP

Credits: 2 CPE | 2 CE

FREE

Subject Area

Taxes

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Course Description

Tax laws are constantly changing. Tax and financial professionals need to stay current to understand the impact of these changes and to minimize taxes. This practical webinar provides a comprehensive update and an instant working knowledge of all key tax provisions. This course covers all the aspects with regard taxation and latest developments in tax laws. It includes basic formulas and methods that how the income tax is calculated. Further there are which deductions are available for individual tax clients which helps to minimize tax burden of your clients. You will come to know latest amendments from this course and enhance your knowledge to serve best to your individual tax clients.

MAJOR TOPICS COVERED

  • Essentials of Income Taxation
  • Basic Formulas for calculating Income tax
  • Various types of tax years
  • Identification of income and deduction with examples
  • Incomes and Exclusions
  • Factors affecting and determining filing status
  • General tax concepts
  • Estimated Payments
  • Credits

  Recommended for CPAs, CFPs, EAs and other tax professionals.

Learning Objectives

  • Recognize how the federal income tax differs from other types of federal taxes.
  • Know the process of computation of taxes for an individual.
  • Identify the differences in the tax for ordinary income, capital gains, and qualified dividend income.
  • Discuss the difference between the cash and accrual method, and the correct period in which taxpayers must recognize income and/or deductions.
  • Identify deadlines for filing income tax returns and estimated taxes and how to obtain an extension of time for filing a return.

Who Should Attend?

  • Enrolled Agent
  • Tax Practitioners
  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • Tax Pros
  • CPA (Industry)
  • Auditors
  • Tax Firm
  • Young CPA
  • Entrepreneurial CPA
  • Outsourced CFO
  • Tax Accountant (Industry)
  • Senior Accountant
  • Tax Managers
  • Tax Preparer

Testimonial

4.4

(346)
57%
29%
10%
2%
2%

MB

The content was very captive. I was glued to the flow of the webinar on how Mike was taking through the minute details about the taxpayer, computation, exclusions, methods, and many more. Great webinar, I will come back for the upcoming webinars.

CAM

I had great difficulty understanding the hybrid accounting methods, and now I have got a very precise idea in terms of all the Cash, Accrual and Hybrid accounting methodology explained in the webinar, Thanks, Mike.

DM

Usually, most of the webinars are designed with a presumption that basic is known, so they don't go through it. This webinar's content was easy to understand for both, new and experienced professionals. Good presentation.

TT

It was an in detail learning regarding the clarity on federal IT and federal other taxes and computing. Mike has made enormous efforts in explaining things in detail.

JP

I have always enjoyed the myCPE Webinars and have highly recommended them to other colleagues. The Webinars are usually free but even when there is a fee it is very reasonable as compared to other companies. Keep up the great work.

BW

Flawless webinar from joining in till the end of the webinar. The platform and the content were very insightful. I will look up to myCPE for my more CPE credit learning.