This course, presented by Lacie Henson, CPA, dives into a curriculum formed by the inquiries and dilemmas faced by tax professionals nationwide. From advanced tax law updates to practical problem-solving techniques, gain immediately applicable knowledge. This course is crafted with input directly from your peers, answering the most pressing questions of the year and equipping you with real-life examples to confidently provide insights on navigating complex tax scenarios.
Learning Objectives:
By the end of this course, participants will be able to:
- Identify critical filing deadlines for various tax forms, including personal, business, and estate tax returns, and learn the implications of missing these deadlines.
- Recognize when to file for an extension, its advantages, and the consequences of late filings, especially for S-Corporations and partnerships.
- Develop strategies for collecting and organizing all necessary documents, such as 1099s and W-2s, for tax season.
- Understand the limits and benefits of IRA contributions, the implications of gift taxes, and strategies for maximizing deductions across various categories.
- Learn about the tax treatment of dividends, the importance of cost basis for gifted and inherited stocks, and strategies for property sale gains.
- Explore eligibility for energy credits, the nuances of Section 179 deductions, and the specifics of deducting medical expenses for dependents.
- Evaluate options for individuals owing more taxes than anticipated, including installment agreements and offers in compromise.
- Differentiate between recourse and non-recourse loans and their implications on tax liabilities.
- Analyze opportunities for accelerating depreciation on real estate investments to optimize tax outcomes.
- Equip with strategies to mitigate risks and prepare for audits, with a focus on sole proprietors and common triggers for IRS scrutiny.
This course counts for 1 hour of IRS CE under the category of Federal Tax Law Related Matters.
Presenter:
Lacie Henson, CPA, 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.
