Overview and Analysis of the New Tax Law: Part 1 - Focus on Individual Taxation (NEW1) - Virtual
4.00 Credits
Member Price $175
Non-Member Price $225
Overview
The passage of OBBBA represents the most consequential tax law since The Tax Cuts and Jobs Act (TCJA) in 2017. It is now up to accounting and finance practitioners to digest this new legislation so they can adequately advise their clients regarding its effect. This course includes detailed coverage of all the individual tax provisions contained in OBBBA. Our experts have broken down this voluminous legislation and distilled its presentation into two parts, each offering four CPE credits. These courses are independent of each other and do not need to be taken in order. For coverage of all business tax provisions, please see Overview and Analysis of the New Tax Law: Part 2 - Focus on Business Taxation (NEW2).
Surgent is providing first-to-market coverage of the legislation in a comprehensive but easily digestible manner. We will, of course, bring our customers future clarifications and corrections emanating from the legislation. Clients will be immediately asking about these enactments, and a real-time understanding of them will be critical to properly provide advice.
Highlights
- Treatment of state and local taxes (SALT)
- Taxation of overtime pay
- Treatment of income from tips
- New deduction for senior citizens
- Marginal tax rates, personal exemptions, itemized deductions, Child Tax Credit, Alternative Minimum Tax, casualty losses, and other return items
- Moving expense exclusion
- Dependent Care Assistance Program and Child and Dependent Care Tax Credit
- Home mortgage interest deduction
- Deduction for new vehicle loan interest
- Non-itemizer tax deductions
- Trump accounts/pilot program
- Estate and gift tax changes
- Energy deductions and credits
- Education: expanded use of 529 plans; student loans
- Many, many other newly enacted individual tax provisions in the far-reaching legislation affecting nearly all taxpayers and their advisors
Prerequisites
A basic rudimentary understanding of the tax rules impacting individuals
Designed For
Accounting and finance professionals who wish to be informed for their own knowledge or who will be advising clients regarding the individual tax changes brought about by the recent legislation
Objectives
- Be well informed about individual tax changes resulting from the enactment of the recent legislation
Preparation
None
Leader(s):
Leader Bios
Deborah Phillips, Discussion Leader, Surgent McCoy CPE, LLC
Deborah A. Phillips, MST, CPA, is a Senior Manager in the Flow Through Issue Practice Group (IPG) in Pre-filing Technical Guidance (PFTG) in the Large Business and International Division (LB&I) of the Internal Revenue Service (IRS). This IPG specializes in S corporation and partnership tax issues in LB&I.
Ms. Phillips began her career with the IRS more than 31 years ago and has extensive accounting and taxation knowledge of individual, corporate, and partnership federal tax returns. She was the Operations Executive Assistant to the Deputy Commission International, the Technical Executive Assistant to the Director of PFTG, a Territory Manager in the Retail, Food and Pharmaceuticals Industry, a Team Manager in the Heavy Manufacturing Industry and the IRC Section 263A Technical Advisor. She taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College, and Goldey-Beacom College. She has been a seminar presenter for over 17 years as well as a respected instructor within the IRS.
Ms. Phillips earned her master’s degree in taxation from Widener University.
Non-Member Price $225
Member Price $175