Show navigation

Available in:

OnDemand Course

IRS Form 1040 Preparation Part 2: Filing Status

Identify opportunities to pay less taxes depending on different deductions taken and classifications of income.

U.S. taxpayers are still learning about changes in tax strategies due to recent U.S. tax reform under the Tax Cuts and Jobs Act of 2017 (TCJA). Many aspects of tax planning and preparation have changed for all taxpayers for the first time in more than thirty years since the 1986 Tax Act. This topic will provide you with an overview of choosing the proper tax filing status, based on changes in tax rates and brackets, elimination of personal exemptions for dependents, and changes in credits and deductions for children. The range of topics include head of household benefits, married filing status options, divorce and support agreements, and state tax differences.

Learning Objectives

  • You will be able to differentiate filing criteria for married and single filers
  • You will be able to identify tax planning for dependents
  • You will be able to identify Innocent spouse relief
  • You will be able to identify Education credits and benefits

Runtime: 94 minutes
Purchase Options

More Program Information

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

Comparing Filing Status for Single and Married Taxpayers

  • Review of Updated Tax Rates and Brackets
  • Comparison of Married Separate and Joint Filing
  • Criteria for Qualifying for Each Filing Status
  • Tax Strategies for Obtaining Tax Benefits
  • State Tax Issues and Alternatives

Identifying Head of Household Qualifications

  • New Tax Law Issues and Considerations
  • Qualifying Dependents for Your Household
  • Impact of Death and Divorce
  • Impact of Support Agreements
  • The Federal Loss of Exemptions

Tax Planning Update for Dependents

  • Child Tax Credit Improvements
  • Education Credits and Benefits
  • Medical Deductions for Household
  • Review of Support and Income Tests
  • Spending Issues and Needs

New Issues and Special Situations for Filing Status

  • Same Sex Marriage and Filing Status
  • Adoption and Elderly Dependent Issues
  • Innocent Spouse Relief Issues
  • Filing Tax Returns for Low Income Filers
Purchase Options

More Program Information

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 14, 2020.

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

  • CPE/NASBA - QAS Self Study 2.5 including Taxes 2.5
     
  • 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: 2.5 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.5 hours. Prerequisite: basic knowledge of taxation. 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.
     
Purchase Options

More Program Information

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

Thomas M. Kosinski, C.P.A., M.S.T.

Thomas M. Kosinski, C.P.A., M.S.T.

Ostrow Reisin Berk & Abrams, Ltd.

  • Director of the Tax Practice of Ostrow Reisin Berk & Abrams, Ltd. (ORBA)
  • Frequent speaker with the Illinois CPA Society covering federal tax updates, IRS representation, individual and corporate tax compliance, and income tax strategies for real estate transactions
  • Offers more than 25 years of experience providing tax planning and technical advice for individuals and the owners of closely held companies
  • Provides specialized tax planning services to his clients, which include high net worth individuals and business entrepreneurs
  • Advises on federal and state tax planning and tax compliance issues for real estate clients and businesses
  • Member of the American Institute of Certified Public Accountants (AICPA) and Illinois CPA Society and former president of Chicago South Chapter
  • M.S. degree in taxation and B.S. degree in accounting, summa cum laude, DePaul University
  • Can be contacted at 312-670-7444 or [email protected]
Purchase Options

More Program Information

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.

All of your training, right here at Lorman.

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

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

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

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 407559
Published 2020
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!