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Individual Tax Planning - Tax Staff Essentials
CPE Self-study

Individual Tax Planning - Tax Staff Essentials

This course will provide you with technical knowledge and expertise to respond to the needs of new and existing clients. Help your clients build and preserve wealth through insightful and creative tax planning techniques. Get the latest techniques for building and conserving wealth through proactive tax-planning and investment strategies.

$165 - $245
Do you have an AICPA membership? Log in to apply your member discount.



NASBA Field of Study




CPE Credits



Bill Bischoff


1 year

Product Number


 Business & partner 
Product Details

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

Maximize client wealth with individual tax planning strategies

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.

Get up to date on tax law changes, Tax Court decisions, and the latest IRS guidance, as well as the latest tax-planning strategies to help preserve your clients’ wealth and ensure your role as a trusted adviser. Make sure your clients are protecting themselves from higher taxes.

Who Will Benefit

  • CPAs
  • Tax practitioners

Key Topics

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

Learning Outcomes

  • Determine the special tax treatment for wash sales, IRC Section 1256 contracts, IRC Section 1244 stock, and IRC Section 1202 stock.
  • Identify rollover options for inherited retirement accounts
  • 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 IRC Section 121 when the rental property is sold.
  • Apply the like-kind exchange provisions under IRC Section 1031 to real property transactions.
  • Determine the basis of assets received in a like-kind exchange.
  • Calculate the installment sales gain.
  • Determine if there is a gain or loss on the repossession of an installment sale.
  • Recognize the tax advantages and planning opportunities for hiring a spouse as an employee for Schedule C filers.
  • Identify the tax advantages when parent’s hire their children in a sole proprietorship versus a partnership.
  • Recognize IRC expensing provisions available for Schedule C filers.
  • Maximize the Section 199A deduction.
  • Identify when a rental is subject to the passive activity limitations.
  • Determine when rental losses are deductible and the amount deductible.
  • Apply Section 199A provisions to rental properties.
  • Recognize the tax consequences of converting a principal residence to a rental property.
  • Determine tax planning opportunities for the Section 121 principal residence gain exclusion when they intersect with vacation properties.
  • Identify specific requirements of the American opportunity credit, the lifetime learning credit, and student loan interest deductions.
  • 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 employ 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.
Do you have an AICPA membership? Log in to apply your member discount.
AICPA Members
Tax Section Members

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2 to 5 registrants

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6+ registrants

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at

Contact us
Bill Bischoff

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Individual Tax Planning - Tax Staff Essentials
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