Self-Study
35
Update
Taxes
General experience in tax preparation

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Hard Copy

$419

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$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 29, 2018
General experience in tax preparation
SS8180266
771
None


Compliance Information

103220
IRS Provider #: 0MYXB
IRS Course ID: 0MYXB-U-01332-19-S
IRS Federal Tax Update Credits: 35
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-1271
CTEC Federal Tax Update Credits: 35
Qualifies for CA Fraud: No


Learning Objectives

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

Chapter 1

  • Identify the significant provisions, important implementation dates, and unique aspects of TCJA.
  • Cite form changes which will be in effect for 2018.
  • Identify new developments in income tax reporting and planning.
  • Cite the requirements and limitations of various tax provisions.
  • Cite various provisions, regulations, and thresholds for Social Security and Medicare.

Chapter 2

  • Review updates in COLAs and contribution limits for traditional IRAs, Roth IRAs, and Retirement Plans.
  • Summarize the main provisions and recent developments of traditional IRAs, Roth IRAs, Designated Roth accounts, Solo 401(k) plans, ROBS, NQDC Plans, ESOPs, and other retirement plans.
  • Recognize when violations have occurred in the provisions for qualified rollovers, minimum distributions, early withdrawals, qualified plan loans, and prohibited transactions.

Chapter 3

  • Review updates in COLAs and contribution limits for traditional IRAs, Roth IRAs, and Retirement Plans.
  • Summarize the main provisions and recent developments of traditional IRAs, Roth IRAs, Designated Roth accounts, Solo 401(k) plans, ROBS, NQDC Plans, ESOPs, and other retirement plans.
  • Recognize when violations have occurred in the provisions for qualified rollovers, minimum distributions, early withdrawals, qualified plan loans, and prohibited transactions.

Chapter 4

  • Review the tax law changes involving estates, trusts, and gifts.
  • Implement tax planning regarding estate and gift tax.
  • Identify the key issues in the regulations issued on the portability election.
  • Recognize important tax issues in recent court cases.

Chapter 5

  • Define the key terminology and elements of Code Section 199A.
  • Cite the various thresholds and limitations within Section 199A.
  • Identify the application of the QBI deduction for taxpayers.

Chapter 6

  • Apply legislation changes to accounting periods and methods.
  • Identify legislation changes surrounding gains and gain deferrals.
  • Recognize the need for reporting cash transactions.
  • Apply legislation changes to taxing medical cannabis.
  • Differentiate types of income and determine which are included in gross income for federal tax purposes.
  • Recognize the Cohan rule and what that means for the taxpayer.
  • Apply legislation changes to entertainment expenses.
  • Identify legislation changes to listed property.
  • Understand the requirements surrounding per diem.
  • Identify new legislation on business interest deductions.
  • Identify the requirements for a bad debt deduction.
  • Apply legislation changes to the home office deduction.
  • Differentiate between deductible repairs and depreciable improvements and determine when to use which.
  • Implement legislation changes to §179 and bonus depreciation.
  • Detect issues surrounding hobby loss rules.
  • Apply legislation changes to net operating losses.
  • Identify legislation changes to start-up expenses.
  • Apply legislation changes to business credits.
  • Apply legislation changes to the Affordable Care Act (ACA) and the widespread effects.

Chapter 7

  • Compute the new Family Leave Credit and the R&D Payroll Credit.
  • Identify recent updates regarding information returns, delinquent payroll taxes, and the Trust Fund Recovery Penalty.
  • Recognize the impact of identity theft on taxpayers, along with recent updates on household employers and wages paid to minor children.

Chapter 8

  • Examine the tax reform changes affecting corporations.
  • Review the advantages and disadvantages of business entities.
  • Recognize trends in IRS audits of entities.
  • Identify the important issues regarding S corporations, shareholder basis and reasonable compensation, including constructive dividends.
  • Review the small business exclusion on stock sales.
  • List tax law changes that impact tax-exempt entities.

Chapter 9

  • Review TCJA changes to partnership tax law.
  • Outline changes in how the IRS audits partnerships and assesses penalties.
  • Identity how the self-employment tax applies to partnership income.
  • Recognize evidence of disguised sales between partners and partnerships.

Chapter 10

  • List the additional due diligence requirements added in 2018.
  • Review the changes to IRS transcripts and discover how a tax delinquency impacts passport holder.
  • Recognize recent activity at the IRS and the top 10 most litigated tax issues.
  • Develop a plan to address taxpayer identity theft.
  • Identify when Innocent Spouse Relief can be used.


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.

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