Course Description:
In hour one of this webinar, Dr. Bart Basi will discuss: Understanding tax credits and deductions can be a huge money saver, and it is vital to determine eligibility for both before filing a tax return. Between the two, a variety of benefits may apply to a taxpayer, Family and Dependent Credits, Health Care Credits, Child Tax Credits, Education Deductions, Investment Related Deductions, and more! What is the difference between a tax credit and a deduction? How can they be claimed? What is the easiest way to determine if any apply? This Webinar will look deeper into the various tax credits and deductions you can take in 2023 to get the most bang for your buck.
The learning objectives for this course are:
- Understand the difference between tax credits and deductions.
- Understand the benefits of the variety of deductions and tax credits.
- Strategize as to which credits and deductions work best for your clients.
In hour two, Lacie Henson will discuss: Form 1040 is the most common return filed by tax preparers. This “simple” form often causes massive headaches for preparers and taxpayers alike. Form 1040 has several different schedules, such as Schedule 1, 2, and 3. Upon completing this presentation, preparers should have a better understanding of Form 1040 and all the different components that come along with it.
The learning objectives for this course are:
- Understand Form 1040
- Understand what goes on Schedule 1, 2, and 3
- Mistakes to avoid when filing form 1040.
This course counts for 2 hours of IRS CE under Federal Tax Law Related Matters.
About the Presenters:
Lacie Henson is the current Senior Partner at Basi, Basi, Henson, and Associates. Lacie is the Treasurer of The Center for Financial, Legal & Tax Planning, Inc. Lacie is a fully licensed federal tax preparer and a CPA. Lacie works on personal, business, trust/estate tax returns and necessary amendments. On top of tax filings, Lacie specializes in preparing valuations and presentation packages, tax minimization analysis and summary reports, and tax implications of business decisions.
Dr. Basi is the current Senior Advisor to The Center for Financial, Legal & Tax Planning, Inc. He is an Attorney and CPA with a Ph.D. in Economics. Dr. Basi is also one of the Tax Course Instructors for the Internal Revenue Service’s Annual Filing Season Program for Tax Return Preparers throughout the United States. Dr. Basi is admitted to practice in Illinois, and New York is also admitted to practice in the United States Supreme Court, being sworn into the highest court in the summer of 2015 in front of all nine Supreme Court justices.
