Self-Study
16
Update
Taxes
General experience in tax preparation.

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Self-Study Video

$419


Course Description

Combining the real-life experience of a practicing CPA/EA with essential down-to-earth tax materials in a high-tech format, this powerful presentation will enable participants to quickly grasp recent tax changes. You'll receive the most complete and up-to-date reference manual, written by renowned tax experts, Vern Hoven and Sharon Kreider. The digital PDF manual is hyperlinked to the Internal Revenue Code and other primary authorities, making it extremely convenient. Join us as our world-class tax instructors share cutting-edge tax planning strategies in a high energy, often humorous presentation style using real-life experiences, which make complicated tax topics easily understandable. Specific course topics will be announced and updated through year-end.



Instructors

Vern Hoven, CPA, MT

Vern Hoven, CPA, MT, is one of America’s premier tax presenters and speaks to over 100 groups a year on a variety of tax topics. He teaches at Western CPE Federal Tax Update seminars and conferences and produces self-study and webcasts courses as well. Vern consistently receives outstanding evaluations and has won numerous teaching awards, including the prestigious AICPA 2014 Sidney Kess Award for Excellence in Continuing Education.
Vern is the author of the best-selling Real Estate Investor’s Tax Guide and a favorite interviewee on radio, television, and in newspapers. His presentation skills have earned him the coveted Certified Speaking Professional (CSP) designation from the National Speakers Association, which has granted only 400 CSPs out of 3,600 NSA members as of 2006.
Vern practiced in the public, governmental, and corporate accounting fields before starting his own public accounting practice in 1973, a firm that grew to one of the largest in western Montana. In 1985, he started his present tax consulting practice. CPA Magazine recognized Vern as one of the top 50 IRS representation practitioners in 2008.

Sharon Kreider, CPA

Sharon Kreider, CPA, has helped more than 15,000 California tax preparers annually get ready for tax season. She also presents regularly for the AICPA, the California Society of Enrolled Agents, CCH Audio, and Western CPE. You’ll benefit from the detailed, hands-on tax knowledge Sharon will share with you—knowledge she gained through her extremely busy, high-income tax practice in Silicon Valley. With her dynamic presentation style, Sharon will demystify complex individual and business tax legislation. She’s a national lecturer for business and professional groups and consistently receives outstanding evaluations. In 2014, she was awarded the prestigious AICPA 2014 Sidney Kess Award for Excellence in Continuing Education.



Course Specifics

Taxes
Nov 30, 2017
General experience in tax preparation.
SS8170265
540
None


Compliance Information

103220
IRS Provider #: OMYXB
IRS Course ID: 0MYXB-U-01243-17-S
IRS Federal Tax Update Credits: 16
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-1192
CTEC Federal Tax Update Credits: 16
Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

 Section 1

  • Identify the tax law changes and extensions provided in court cases and in legislation.
  • Recognize important administrative tax issues related to filing status and personal and dependency exemptions.
  • Cite issues related to capital gains and dividends, social security payments, and other gross income items and adjustments to gross income.
  • Identify the tax laws related to the standard deduction and itemized deductions.
  • Identify net investment income for the 3.8% Medicare tax.
  • Recognize the requirements and calculations of the alternative minimum tax, the kiddie tax, and various tax credits.
  • Cite the framework and compliance issues required for individuals and businesses by the Affordable Care Act.

 Section 2

  • Identify the various rules regarding IRAs Roth IRAs, and other retirement plans, and how these rules are used for retirement and tax planning.
  • Recognize how to advise your client on the qualified rollover rules.
  • Recall whether the minimum distribution requirements are being met for your clients.
  • Identify how to avoid the 10% early withdrawal penalty.
  • Cite recent changes to the tax code and apply them to client situations.
  • Identify passive loss rules, noting the establishment of material participation, passive rental activity, and the disposition of a passive activity.
  • Identify passive loss rules, noting the establishment of material participation, passive rental activity, and the disposition of a passive activity.
  • Identify the regulations and tax issues related to real estate professionals, noting the qualifying requirements for a real estate professional, recharacterization rules, self-rented property, and the difference between a dealer and an investor.
  • Recognize the rules, eligibility requirements, and applicable tax treatment associated with vacation homes, Airbnb rentals, like-kind exchanges, and delayed or deferred exchanges.
  • Recognize the rules for debt forgiveness and cancellation and their applicable impact to the taxpayer, the tax treatment of gain on the sale of a residence, and the rules associated with reacquiring property after an installment sale.
  • Identify changes in the law regarding reporting cost basis to beneficiaries, filing Form 8971 and Schedule A and the relating deadlines and penalties which may be applicable.
  • Identify the new proposed regulations that could drastically affect the valuation of transfers in closely held entities and cite the impact of the various proposed regulations.
  • Recognize estate, gift, and generation skipping transfer tax rules under the American Taxpayer Relief Act of 2012, identifying current rules, exclusion rates, valuation approaches, and income tax rates.
  • Recall the purpose, changes, and timely filing of IRS Form 706, including the portability of unused exemptions, and the calculation of the Deceased Spousal Unused Exemption (DSUE).
  • Recognize relevant rates and limits for gift taxes and examine items that are exempt or excluded from the gift tax, gifts in excess of the annual gift amount, the portability election, and GRATs.
  • Cite top estate planning ideas and cutting-edge planning techniques such as Family Limited Partnerships (FLPs), wealth and succession planning, grantor trusts, and installment sale planning.
  • Identify special tax situations that apply to estates and trusts.

 Section 3

  • Cite recent changes in the tax law relating to businesses and identify the hobby rules under §183(b).
  • Recognize general business tax matters, including accounting periods and methods and gross income topics.
  • Identify other trade or business expense rules and changes, including automobile expenses and travel expenses.
  • Identify other trade or business expense rules and changes, including automobile expenses and travel expenses.
  • Identify the office-in-home requirements.
  • Recall the final regulations for tangible property, materials and supplies, and repairs versus improvements.
  • Recognize the rules for depreciation, farms, NOLs, and business credits.
  • Identify the treatment of special tax situations like start-up expenses, trader versus investor, etc.

 Section 4

  • Identify key updates with respect to information return late filings and DOL overtime rule changes.
  • Recall current issues affecting corporations, including tax return due dates, issues with corporate tax rates, PEOs, tax credits, reasonable compensation, and corporate inversions.
  • Identify considerations related to self-employment tax in partnerships, corporations, and LLCs.
  • Identify components of the proposal on tax reform.
  • Identify the rules regarding the S corporation election, the determination of basis, and operations of the S corporation.
  • Recall current issues affecting partnerships, including tax return due dates, audit approach, and other issues.
  • Recall current issues affecting corporations, including tax return due dates, issues with corporate tax rates, PEOs, tax credits, reasonable compensation, and corporate inversions.
  • Identify considerations for exempt entities.
  • Identify considerations related to self-employment tax in partnerships, corporations, and LLCs.
  • Cite the current changes in IRS practice and procedures, including preparer penalties, identity theft and phone scams, and procedures for dealing with the IRS.


Choose Your Preferred Format


Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

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Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

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