2012 Individual Tax Returns Videocourse

This video-based course, featuring Sidney Kess and an expert panel, reviews major developments affecting 1040 return preparation for 2012 and useful tax-planning strategies.

Objectives:

• Apply the latest changes when preparing federal income tax returns
• Advise individual clients on new developments and tax saving ideas in income taxation

Highlights:

• 2012 hottest tax planning tips
• How to prepare for the impending tax law changes
• Converting traditional IRAs to Roth IRAs
• Expiring provisions and their impact on 2012 returns
• Bonus depreciation changes including Section 179 expensing and bonus depreciation
• The Affordable Health Care Act: impact on 2012 individual returns
• Long-term care medical expenses
• Working with the qualified mortgage interest rules
• Evolving passive activity rules
• Planning strategies for the alternative minimum tax
• Revised Form 1099-B for basis reporting
• Sale of a personal residence
• Schedule C developments, including hobby law cases
• Tax tips to minimize the new investment tax for 2013
• Coordinating beneficiary
designations with an estate plan
• Tax tips to increase
financial planning opportunities
• Kiddie tax rules
• Determine what to do in 2012 to create tax savings for clients before year-end
• How to reduce audit risk

Prerequisite: Knowledge of individual income taxation and Form 1040 preparation

Advanced Preparation: None

In this 200 minute video, Sidney Kess, CPA, J.D., LL.M, interviews Andrew J. Fair, Esq.; Vernon Hoven, CPA, MST; Sharon Kreider, CPA, EA; Sydney S. Traum, CPA, J.D., LL.M; Catherine A. Fitzpatrick, CPA, MST; Carolyn R. Turnbull, CPA, MST; Joseph W. Walloch, CPA; and Julie A. Welch, CPA, CFP.