The Best Individual Income Tax Update Course by Surgent

Overview

This highly informative course comprehensively covers all the latest tax law developments. The focus is on individual taxation and discussion of the planning opportunities practitioners need to understand to help clients respond effectively. You will come away from the course with the up-to-date knowledge to educate your individual tax clients and implement tax-saving ideas that will serve their ever-evolving needs. This course is continually updated to reflect enacted legislation. Please Note: Due to content overlap, it is recommended that this course NOT be taken together with BFTU.

Highlights

Comprehensive coverage of the One Big Beautiful Bill Act
Review of key components of President Trump's tax bill, including a tip income exemption, overtime pay relief, Social Security tax exemption, auto loan interest deductibility, SALT deduction modifications, a lower corporate tax rate, restoration of 100% bonus depreciation, immediate R&D expensing, and permanent extension of select TCJA provisions
Tariff policy and implementation - analyze the use of tariffs as a fiscal and trade policy tool
Digital assets and tax implications - understand the new Form 1099-DA for reporting digital asset transactions, along with updated IRS guidance on cryptocurrencies, NFTs, and broker responsibilities
Artificial intelligence - discover how AI and generative tools are transforming tax practices, as well as how the IRS is leveraging AI to enhance audit selection
Form 1099-K reporting requirements - understand the evolving IRS thresholds and rules for third-party payment platforms
The Gig Economy - examine key tax implications for gig workers, including Independent Contractor vs. Employee classification challenges, reporting responsibilities, and the impact of the 2024 Department of Labor Final Rule on worker status
Timely coverage of breaking tax legislation
Real Estate professional requirements
Review of pertinent cases and rulings affecting taxpayers
Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more
Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas

Prerequisites

Experience in individual tax planning

Designed For

All tax practitioners, both those working in public accounting as well as those in private industry, who need the latest information on tax changes affecting their individual clients

Objectives

Understand strategies and tactics to use in light of new legislation
Understand the most current guidance on retirement planning
Understand how to nail down valuable deductions and other reductions to the tax base

Preparation

None

Credits

Specialized Credits

Level

Code

Vendor

Fields of Study

Leader(s):

David Peters, CPA Crossings, LLC Two Commerce Square

Leader Bios

David Peters, CPA Crossings, LLC Two Commerce Square

David R. Peters, CPA, CFP, CPCU, MST, MBA Peters Tax Preparation & Consulting, Richmond, VA & Rock Hill, SC David Peters is an independent tax preparer for Peters Tax Preparation & Consulting, and a financial advisor and outside representative for Carroll Financial Associates. He has over fourteen years of experience in financial services, including three years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer of Compare.com, an insurance price comparison company - a position he held for over three years. He was also instrumental in the early success of Elephant Auto Insurance, a six state auto insurance carrier, located in Glen Allen, VA. He holds four masters degrees, and is currently pursuing his PhD in Financial Planning. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics in Virginia, North Carolina, and South Carolina. He is an Adjunct Professor in Finance and Accounting at Winthrop University in Rock Hill, SC, and teaches regularly for Kaplan Test Preparation. He contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures.

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