The Best Individual Income Tax Update Course by Surgent (BITU)

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 individual provisions of the One Big Beautiful Bill Act, including but not limited to:

• TCJA provisions made permanent, including lower marginal tax rates, expanded standard deduction, and the increased child tax credit

• New Tip Income Deduction of up to $25,000 for individuals in customarily tipped ocupations, including updated final regulations (TD 10044)
• New Overtime Pay Deduction of up to $12,500 ($25,000 MFJ) for FLSA-eligible employees on qualifying overtime pay
• New Car Loan Interest Deduction of up to $10,000 annually for interest on qualifying new U.S. assembled vehicle loans
• New Temporary Senior Deduction of $6,000 for taxpayers aged 65 and older
• Expanded SALT Cap of up to $40,000 through tax year 2029
• Trump Accounts, a new savings vehicle for minors, including contribution rules, basis tracking, and the pilot program

Comprehensive coverage of business provisions of the One Big Beautiful Bill Act, including but not limited to:

• 100% Bonus Depreciation made permanent, including new Qualified Production Property (QPP) provisions
• Increased §179 deduction
• Changes to §174 R&E Expenditures, including restoration of immediate expenses
• Changes to §163(j) and new election withdrawal opportunities under Rev. Proc. 2026-17
• Form 1099/1099-K changes and increased reporting thresholds
• Qualified Small Busines Stock Exclusion changes

• Digital Assets & Tax Implications - understand the tax treatment of various digital assets, updated guidance on basis tracking and cost identification methods, as well as the phased rollout of Form 1099-DA for broker reporting
• Real Estate professional status requirements
• Review of pertinent recent cases and rulings affecting taxpayers
• Practice aids, including all the numbers applicable for the current year
• 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