Tax tips and tax strategies to help your new and existing individual clients.
Objectives
- Determine whether an activity is passive or active.
- Determine the allowable deductions for vacation homes.
- Recognize how material participation affects the taxation of an activity.
- Determine the amounts allowable for deducting travel and transportation expenses.
- Identify income categories and entity types that qualify for the qualified business income (QBI) deduction.
- Identify the rules for amortizing and expensing start-up costs, intangible assets, and research and experimentation expenditures.
- Identify property transaction provisions that apply to installment sales, inherited property, and other capital assets.
Highlights
Gains and losses on property transactions
Fringe benefits
Retirement plan distributions
Hobby losses
Home offices
Depreciation and amortization
Tax credits
The qualified business income deduction under Section 199A
Who Will Benefit
CPAs working with clients or employers requiring up-to-date expertise in individual income taxation
