Intermediate Individual Taxation - Tax Staff Essentials - Society of Louisiana Certified Public Accountants

Overview

Tax tips and tax strategies to help guide your new and existing individual clients.

Gains and losses on property transactions

Fringe benefits

Retirement plan distributions

Hobby losses

Home offices

Depreciation and amortization

Qualified business income under Section 199A

Passive activities

Business transactions

Working knowledge of individual income taxation and Form 1040 preparation

CPAs working with clients or employers requiring up-to-date expertise in individual income taxation

Determine whether an activity is passive or active.
Determine the allowable deductions for vacation homes.
Determine the proper accounting method allowed for a business entity.
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 startup costs, intangible assets, and research and experimentation (R&E) expenditures.
Identify property transaction provisions that apply to installment sales, inherited property, and other capital assets.