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OnDemand Course

Individual Itemized Deductions and Other Provisions

Gain a better understanding of individual itemized deductions and other provisions that came from the new tax act.

The 2017 Tax Act was the most significant change in the Internal Revenue Code in 31 years. Find out what you need to know for 2018 and beyond regarding individual tax obligations, whether for yourself or your clients. This topic will provide an overview of the 2017 Tax Act provisions that affect individuals including a review of the drop in individual income tax rates, increases in the standard deductions, suspension of personal exemptions and itemized deductions, increases in the alternative minimum tax exemption amounts, and other important changes that go into effect this year. The material will also go over provisions that were slated to be amended or repealed but which were not included in the final tax act.

Learning Objectives

  • You will be able to differentiate between the changes to the standard deductions in the Tax Cuts and Jobs Act (TCJA) of 2017.
  • You will be able to differentiate between the changes to the itemized deductions in the Tax Cuts and Jobs Act (TCJA) of 2017.
  • You will be able to identify which itemized deductions were suspended or eliminated in the Tax Cuts and Jobs Act.
  • You will be able to recognize the changes within the Tax Cuts and Jobs Act that affect income.

Runtime: 59 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Reduction in Individual Income Tax Rate

Increases in the Standard Deduction

Suspension of the Personal Exemption

Suspension of Miscellaneous Itemized Deductions

Revisions to the Individual Alternative Minimum Tax Exemptions

New Limitations on the Mortgage Interest Deduction

New Limitations on the State and Local Tax Deductions

Charitable Contributions Revisions

New Limitations on Various Loss Provisions

Revisions to the Medical Expense Deduction

Elimination of Alimony Payments Deduction

Moving Expenses Deductions Eliminated

Enhancements to the Child Tax Credit

Revisions and Enhancement to Education Tax Provisions

Enhancements for Able Accounts

Estate and Gift Tax Enhancements

Provisions That Did Not Get Included in the Final Act

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on February 13, 2019.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 1.5 including Taxes 1.5
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.5 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 1.5 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

James W.C. Canup

Hirschler Fleischer

  • Tax Practice Chair at the Richmond, Virginia based law firm of Hirschler Fleisher
  • Advises individuals, partnerships, and corporations on the tax consequences of their business and other transactions
  • Quoted in The Wall Street Journal, The New York Times, USA Today, U.S. News and World Reports, Accounting Today and other leading publications on tax matters
  • Has written articles for Trust & Estates, Financial Advisor and other publications
  • Recognized by Virginia Business as a member of Virginia’s “Legal Elite” since 2009
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
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* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 405730
Published 2019
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