Self-Study
2
Update
Taxes
None

Course Description

Course DescriptionThe Tax Cuts and Jobs Act of 2017 (TCJA), signed into law during the closing days of 2017, significantly affects tax planning and the income tax liability for many taxpayers. This course will examine the principal changes affecting individual taxpayers made by the TCJA.  

It examines the provisions of the TCJA with increased potential to affect the taxation of individuals and which are related to changes in:

•Individual and capital gains tax rates;

•Standard deduction and exclusions;

•Income and adjustments to income;

•Itemized deductions in Form 1040 Schedule A; 

•Form 1040 Schedule C;

•Tax credits;

•Individual alternative minimum tax (AMT);

•Taxation of unearned income of minor children;

•Qualified tuition plans;

•ABLE accounts;

•Tax treatment of student loan indebtedness discharges;

•Net operating losses; and

•Affordable Care Act individual responsibility requirement.

In addition, it will consider the business-related TCJA provisions affecting individual taxpayers, including the pass-through deduction for qualified trades or businesses under IRC §199A. 




Instructor

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

Taxes
Feb 7, 2020
None
SS8202645
64
None


Compliance Information

103220
IRS Provider #: 0MYXB
IRS Course ID: 0MYXB-U-01487-20-S
IRS Federal Tax Update Credits: 2
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-1383
CTEC Federal Tax Update Credits: 2
Qualifies for CA Fraud: No


Learning Objectives

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

Chapter 1

  • Recognize the TCJA's effect on the individual income and capital gains tax rates; 
  • List the changes in standard deductions, filing requirements and exemptions resulting from passage of the Tax Cuts and Jobs Act;
  • Describe the TCJA's impact on the adjustments to income for alimony and taxpayer moving expenses; 
  • Identify the changes affecting the itemized deductions on Schedule A; and
  • Understand the provisions of the enhanced child tax credit.

Chapter 2

  • Describe the Kiddie Tax modifications and the broadening of §529 plan distributions;
  • List the changes affecting the discharge of student loan indebtedness and net operating losses;
  • Describe the TCJA's effect on the ACA's requirement to maintain health coverage and its changes to employee fringe benefits; and
  • Identify the principal changes to the rules governing real property depreciation.

Chapter 3

  • Recognize the general pass-through deduction for a qualified trade or business;
  • Define the terms 'qualified trade or business,” 'qualified business income,” and 'qualified property” for purposes of the pass-through deduction;
  • Describe the W-2 wage limitation;
  • List the changes with respect to Schedule C provisions, including those related to -

      • Entertainment expenses,
      • Section 179 expense limits,
      • 100% expensing,
      • Luxury auto limits,
      • Listed property updates, and
      • Net operating losses.




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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