General tax preparation experience.

Course Description

Each year, income tax return preparation is affected by inflation-related changes to various limits and—especially pertinent in 2018—new tax laws. This course will help navigate the reader through key changes to limitations as they pertain to tax years 2017 and 2018.

In addition to customary annual adjustments, the Tax Cuts and Jobs Act of 2017 initiated major modifications to individual and corporate taxes for tax year 2018 onward. This course summarizes in a dedicated chapter the most noteworthy changes for individual taxpayers resulting from the new law, including new individual tax rates and updates and suspensions to various deductions. In taking this course, you will become familiar with the most recent updates in tax law in order to provide your clients with the best and most up-to-date service.


Paul Winn

Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.

Course Specifics

Jan 23, 2018
General tax preparation experience.

Compliance Information

IRS Provider #: 0MYXB
IRS Course ID: 0MYXB-U-01265-18-S
IRS Federal Tax Update Credits: 5
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-1212
CTEC Federal Tax Update Credits: 5
Qualifies for CA Fraud: No

Learning Objectives

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

Chapter 1

  • Calculate the standard mileage deductions for use of a personal vehicle to obtain medical care and charitable use of a personal vehicle.
  • Identify the 2018 standard deduction amounts available to taxpayers.
  • Recognize the changes made to the alternative minimum tax exemption amount for 2018.
  • Apply the tax-free income limits for US savings bonds for taxpayers who paid qualified higher education expenses in 2018.
  • Calculate the tax-deductible premiums for and tax-free benefits received under qualified long-term care insurance contracts.

Chapter 2

  • Calculate the retirement savings contribution credit available to eligible taxpayers;
  • Recognize the rules and income limits applicable to eligibility for the earned income credit; and
  • Apply the adoption credit rules.

Chapter 3

  • Identify the changes effective in 2018 related to the health flexible spending accounts contribution limits.
  • Identify the penalty for individuals who fail to comply with the Affordable Care Act mandate to maintain minimum essential coverage in 2018.
  • Determine the small business health care tax credit.
  • Recognize the large employer shared responsibility provision and reporting and notification requirements.

Chapter 4

  • Recognize the eligibility rules applicable to Archer medical savings accounts and health savings accounts;
  • Calculate the maximum contributions that may be made to an Archer medical savings account;
  • Apply the tax treatment rules to contributions to and distributions from Archer medical savings accounts and health savings accounts;
  • Calculate the traditional IRA tax deduction available to a taxpayer who is an active participant in an employer-sponsored retirement plan; and
  • Recognize the MAGI limits that apply to a taxpayer’s eligibility to make a Roth IRA contribution.

Chapter 5

  • Identify individual tax rate changes affecting taxpayers;
  • Recognize the changes made to the various exemptions and deductions available to taxpayers;
  • Calculate the Child Tax Credit;
  • Identify the additional educational institutions considered eligible educational institutions under IRC §529 tuition savings plans; and
  • Determine the anticipated changes to the individual taxpayer penalty for failing to maintain minimum essential coverage.

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.

online access
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.

hard copy

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