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Individual Tax Fundamentals - Tax Staff Essentials

Author/Moderator: Wendy Kravit, CPA, MBA
Publisher: AICPA
Availability: Online Access
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Save when you buy the complete Tax Staff Essentials, Level 1 online bundle.

This CPE course provides you up-to-date information on critical tax issues, providing an outstanding foundation in the federal tax arena for individuals. Ensure your clients receive the most current tax planning and tax-saving strategies for their tax plans.

Topics Discussed

  • Filing requirements and personal exemptions
  • Gross income inclusions, exclusions, and adjustments
  • Sole proprietorships and hobby loss rules
  • Home offices, rental properties, and vacation homes
  • Passive activities
  • Principal residence sale
  • Travel and entertainment
  • 0.9% Medicare Payroll Tax
  • Tax, AMT, and tax credits
  • 3.8 % Net Investment Income Tax

Learning Objectives
When you complete this course you will be able to:

  • Determine the filing status and interpret the filing requirements for individual taxpayers.
  • Recognize when the Healthcare Reform Acts' (HCRA) Medicare Payroll Tax will impact an individual
  • Identify the applicability of the HCRAs' Medicare tax on Net Investment Income
  • Discuss alternatives in reporting in order to reduce the income tax for an individual.
  • Analyze and report the business income and expenses of a sole proprietorship or a single member LLC on Schedule C to the Form 1040.
  • Interpret and report the rental activities on Schedule E to the Form 1040.
  • Identify the specific rules that apply under the “passive activity” rules.
  • Identify and calculate the business deduction for home office expenses and deduction limitations.
  • Apply the specific rules for the deductibility of travel and entertainment expenses as they relate to business or rental transactions in preparing income tax returns.
  • Determine if a change of filing status will improve the filing position for taxpayers based on the list of itemized deductions.
  • Gather the necessary information required to include the claim for the tax credit in the individual income tax return.

Prerequisite: None

Advanced Preparation: None

Tax Section Members Receive Additional Savings! 

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or

Find out more information on the Tax Section.

NASBA Field of Study: Taxes
Level: Basic
Recommended CPE Credit: 21
Individual Tax Fundamentals - Tax Staff Essentials
CPE On-Demand , 2015
Product# 157581
Availability: Online Access 1 Year
For registered users only
AICPA Member:$269.00
Your Price:$339.00
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