Individual Tax Fundamentals - Tax Staff Essentials

Tax professionals can enhance their practice by studying tax-saving strategies for individual clients.

Objectives

• Identify individual retirement account (IRA) and qualified plan distributions.
• Recognize the taxation of virtual currency.
• Recall how health savings accounts (HSAs) work.
• Recall the self-employed health insurance deduction.
• Recall the deductibility of charitable contributions.
• Recall the steps to figuring the qualified business income deduction under Section 199A.
• Recall the net investment income tax (NIIT) on unearned income.

Highlights

Filing requirements and personal exemptions Gross income inclusions, exclusions and adjustments Standard and itemized deductions Tax credits Tax provisions for high-income taxpayers 3.8% net investment income tax Roth IRA, IRA and retirement plan options Section 199A qualified business income deduction

Who Will Benefit

CPAs working with individual tax clients

Credits

Category	Amount
Tax	8.00