The Best Individual Income Tax Update Course by Surgent

Overview

This highly informative course comprehensively covers all the latest tax law developments. The focus is on individual taxation and discussion of the planning opportunities practitioners need to understand to help clients respond effectively. You will come away from the course with the up-to-date knowledge to educate your individual tax clients and implement tax-saving ideas that will serve their ever-evolving needs. This course is continually updated to reflect enacted legislation. Please Note: Due to content overlap, it is recommended that this course NOT be taken together with BFTU.

Highlights

Comprehensive coverage of individual provisions of the One Big Beautiful Bill Act, including but not limited to:

•   TCJA provisions made permanent
•   New tip income deduction
•   New overtime pay deduction
•   New car loan interest deduction   New temporary senior deduction   Expanded SALT cap
•   Trump Accounts

 Comprehensive coverage of business provisions of the One Big Beautiful Bill Act, including but not limited to: 

• Bonus depreciation made permanent
•  Increased §179 deduction
•  Changes to §174 R&E expenditures   Changes to §163(j)
•  Form 1099/1099-K changes
•  Qualified Small Business Stock Exclusion

 Digital assets and tax implications – understand Form 1099-DA for reporting digital asset transactions, along with updated IRS guidance on cryptocurrencies and broker responsibilities
 Artificial intelligence – discover how AI and generative tools are transforming the tax profession   Timely coverage of breaking tax legislation
 Form 1099-K reporting requirements – understand the evolving IRS thresholds and rules for third-party payment platforms
 The Gig Economy – examine key tax implications for gig workers, including Independent Contractor vs. Employee classification challenges, and employer reporting responsibilities
 Real Estate professional requirements
 Review of pertinent cases and rulings affecting taxpayers
 Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more
 Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas

Prerequisites

Experience in individual tax planning

Designed For

All tax practitioners, both those working in public accounting as well as those in private industry, who need the latest information on tax changes affecting their individual clients

Objectives

• Understand strategies and tactics to use in light of new legislation
•  Understand the most current guidance on retirement planning
•  Understand how to nail down valuable deductions and other reductions to the tax base

Preparation

None