Reviewing Individual Tax Returns: What are You Missing?
4.00 Credits
Member Price $225.00
Non-Member Price $269.00
Overview
Catch errors on individual returns
The sheer volume of individual tax returns requiring preparation can create a work environment that invariably leads to errors or omissions. A trained eye can spot mistakes.
A case-based approach to learning return review
Four case studies focus on issues that individual return preparers and reviewers will frequently encounter in their practice:
- Section 199A (qualified business income deduction)
- Home office deduction
- Rental properties
- Hobby losses
- Hiring of spouses
- Depreciation, including bonus depreciation
- Section 179 issues
- Organization and start-up costs
In-course application
Learners get access to four 2024 individual returns and try their hand at reviewing them for:
- Errors
- Areas for improvement
- Opportunities to educate or advise the client
Highlights
- Qualified business income deduction
- Hobby losses
- Self-employment health insurance
- Business start-up costs
- Depreciation
- Schedule C issues
- Like-kind exchanges
- Clean vehicle credit
Prerequisites
Experience with individual tax return preparation
Designed For
CPA firm partners and managers tasked with reviewing individual tax returns
CPA firm staff tasked with preparing individual tax returns
CPA sole proprietors specializing in individual taxation
Objectives
· Determine the proper tax treatment for certain rental property activities.
· Distinguish between hobbies and businesses.
· Identify the warning signs that a client might have unreported income.
· Determine proper tax return reporting of a like-kind exchange transaction.
Leader(s):
Leader Bios
Bill Harden, Surgent McCoy CPE, LLC
J. William (Bill) Harden, Ph.D., CPA, ChFC
Bill is an Associate Professor in the Bryan School of Business and Economics at the University of North Carolina at Greensboro where he teaches tax and financial accounting courses. Bill has over thirty years of experience in taxation. He was awarded the Bryan School Tenured Faculty Teaching Excellence Award for 2008 and 2018. In addition to his university teaching, Bill consults on tax and financial planning issues and maintains a small sole practice in High Point, North Carolina.
Bill has been involved in CPE instruction for over two decades. He received NCACPA CPE instructor awards for 2009, 2010, 2011, 2013 and 2015 and AICPA CPE instructor awards for 2011, 2012, 2013, 2015, 2017 and 2022. For 2016, Bill was awarded the NCACPA R. Donald Farmer Award.
Bill has authored over 50 publications in tax accounting and financial planning journals, including the Journal of Financial Service Professionals, Strategic Finance, National Tax Journal, Journal of Business Finance and Accounting, Tax Notes, Tax Advisor, and Journal of the American Society of CLU and ChFC. He is currently a member of the AICPA, the American Accounting Association, the American Taxation Association, the National Tax Association, and the North Carolina Association of CPAs and is a tax columnist for the Journal of Financial Service Professionals. Bill was the recipient of a Lybrand Certificate of Merit in 2002, and he was a co-author of the paper selected for the 2022 Montgomery-Warschauer Award.
Non-Member Price $269.00
Member Price $225.00