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Individual Tax Planning - Tax Staff Essentials
CPE Self-study

Individual Tax Planning - Tax Staff Essentials

Learn how to help your clients build and preserve wealth through insightful and creative tax planning techniques.

$189 - $280
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NASBA Field of Study




CPE Credits



Deborah A. Phillips


1 year

Product Number


 Business & partner 
Product Details

Save when you buy the complete Tax Staff Essentials, Level 4 online bundle.

Be in the know

Congress's frequent legislative changes to the Internal Revenue Code has many individuals and closely held businesses highly focused on the impact of taxes and tax rates on their financial well-being.

Become up to date on tax law changes, Tax Court decisions, and the latest IRS guidance, as well as the latest comprehensive tax-planning strategies to preserve your clients’ wealth.

Show your clients how you are protecting themselves from higher taxes and ensure your role as a trusted advisor.

Who Will Benefit

  • CPAs
  • Tax practitioners

Key Topics

  • Maximizing tax benefits on the sale of a principal residence
  • Tax deferral through like-kind exchanges and installment sales
  • Planning strategies for the sale of capital gain assets and real property
  • Maximizing the tax benefits available to self-employed individuals
  • Tax planning opportunities for rental properties
  • Maximizing deductions and credits for education expenses
  • Planning for required minimum distributions

Learning Outcomes

  • Calculate the full and partial exclusion available for the sale of a principal residence.
  • Identify how to treat the conversion of a principal residence into a rental property and the interplay with Section 121 when the rental property is sold.
  • Determine the basis of assets received in a like-kind exchange.
  • Calculate the installment sales gain and determine if there is a gain or loss on the repossession of an installment sale.
  • Recognize the tax advantages and opportunities for hiring a spouse as an employee.
  • Identify the tax advantages when sole proprietors, partnerships, or S corporations hire their children.
  • Calculate and compare the tax savings for a partnership and S corporation when employing a child.
  • Identify tax strategies to take advantage of Section 179 or bonus depreciation.
  • Recognize and apply Section 199A provisions to rental properties to take advantage of the qualified business income deduction.
  • Determine the best expense allocation method to use for vacation properties that are third-party rentals for part of the year.
  • Determine tax planning opportunities for the Section 121 gain exclusion when a principal residence is converted to a rental property.
  • Identify tax-saving college financing maneuvers for higher-income clients who are ineligible for the well-known education tax breaks.
  • Identify strategies for how parents can can take advantage of educational assistance provisions by employing their children through their closely held business.
Credit Info
CPE Credits
NASBA Field of Study
Basic knowledge of individual income taxation
This is a digital product. With full paid access the content will be available to you for 1 year after purchase date.
For more information, please refer to CPE requirements and NASBA sponsorship information
Do you have an AICPA membership? Log in to apply your member discount.
AICPA Members
Tax Section Members

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Contact us
Deborah A. Phillips
Deborah A. Phillips, CPA, MST, operates her own tax controversy practice where she specializes in partnership and S Corporation tax law as well as IRS audits and procedures. Debbie, retired from the Large Business and International Division (LB&I) of the Internal Revenue Service (IRS) where she was a Senior Manager in the Flow Through Issue Practice Group (IPG). The IPG specializes in S corporation and partnership tax issues for LB&I. Debbie worked for the IRS for over 31 years ago and she has extensive accounting and taxation knowledge of individual, corporate, and partnership federal tax returns. She was the Operations and Technical Assistant to the Deputy Commission International, the Technical Assistant to the Director of PFTG, a Territory Manager in the Retail, Food and Pharmaceuticals Industry, a Team Manager in the Heavy Manufacturing Industry and the IRC Section 263A Technical Advisor. Debbie taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College, and Goldey-Beacom College. She has been a seminar presenter for over 17 years as well as a text book author. Debbie earned her master's degree in taxation from Widener University.

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Individual Tax Planning - Tax Staff Essentials
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