Individual Tax Series

Tax Cuts and Jobs Act - Individual Tax Preparation

Course Overview:
The Tax Cuts and Jobs Act of 2017 (TCJA), signed into law during the closing days of 2017, will significantly affect 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.



  • Learning Objectives:

    Upon completion of this course, you should be able to:
    • Recognize and apply the 2018 individual income and capital gains tax rates;
    • Identify the changes in deductions, exclusions, adjustments and tax credits resulting from the TCJA;
    • Calculate the alternative minimum tax (AMT) and Kiddie tax;
    • List the changes affecting Section 529 plans, ABLE accounts, discharge of student loan indebtedness, accounting for net operating losses and the individual responsibility requirement under the Affordable Care Act; and
    • Calculate the pass-through deduction available under IRC §199A.


    Prerequisites/Advanced Preparation:

    None

    Speaker / Author:

    Paul J. Winn CLU ChFC

    Education
    B.A. (Philosophy), St. John's University (1961 – 1964) Law School, University of Virginia (1964 – 1965) MBA program Binghamton University (1986-1989)
    CLU (1985)
    ChFC (1987)

    Experience
    Thirty years in the life insurance and investment industry (1965 – 1995). Nineteen years as a financial writer, editor and trainer (1995 – 2014).

    Mutual Life Insurance Company of New York
    Product developer
    Compensation officer
    Agent
    Sales manager

    Security Mutual Life Insurance Company
    General agent
    Marketing vice president
    Agency vice president
    Vice president - strategic planning officer

    Principal Financial Group
    Agency Manager

    Maryland Financial Corporation
    President

    Freelance Writer & Editor
    Published book author.
    Writer & editor of major mutual life insurance company’s agent training university. Creator of more than 200 insurance, securities and tax training courses in online, print and scripted classroom formats.

    Insurance Industry Involvement
    Member, Board of Directors, Baltimore Chapter of CLU & ChFC
    Chairman of Continuing Education, Baltimore Chapter of CLU & ChFC
    Moderator, GAMA Agency Managers Training Course (AMTC) Baltimore
    Member, Board of Directors, Southern Tier (NY) Chapter of CLU & ChFC
    President, Southern Tier (NY) Chapter of CLU & ChFC 1987-1989
    Member/Secretary, Advisory Board to New York State Insurance Department 1985-1989

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    Price (USD)

    Standard: $49.90

    Details

    Course Code : 99WIN17

    Release Date : 11/06/2018
    Expire Date : 11/06/2020
    Credits :
    CPE 2.00
    IRS CE 2.00
    QAS 2.00

    Length : 1hr 40min
    Course Level : Basic
    Course Type : Self-Study
    Passing Grade : 70%
    Format Type : eLearning
    Mobile Compatible
    Field Of Study : Taxes

    Theme : Individual Tax Series

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