Each year, various limits affecting income tax return preparation and tax planning are affected by inflation-related changes. In addition, various laws passed to address the financial consequences of the coronavirus pandemic significantly affect tax planning and may also affect taxpayers’ income tax liability. This course will examine many of those changes.
The Annual Tax Filing Season Update course discusses new tax law-including various tax extenders-and recent updates for the 2022 filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices and procedures.
Annual inflation adjustments. Tax qualified long term care premiums. HSAs. Standard Mileage rates. Taxability of earnings. Retirement income reporting and taxability. Proprietorship income. Capital gains and losses. Standard deduction eligibility. Itemized deductions, Schedule A. Tax credits. General income tax review. Preparer practices, procedures, and responsibility.
Identify the inflation adjustments to various federal limits. Describe the current status of tax extenders. Identify those items included in a taxpayer’s taxable earnings. Recognize the items included in self-employment income and expenses. Recognize the eligibility requirements for claiming the common tax credits, and more.
Paul Winn, Western CPE
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.
Non-Member Price $267.00
Member Price $232.00