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Virtual description and objectives

Essential Tax Law for Individuals and Businesses 


These topics will include detailed, in-depth information on the most recent legislation, expiring provisions and IRS updates. 

We’ll be covering issues you’re likely to see in the 2025 tax season when preparing the 2024 tax returns for both individuals and businesses (specific topics to come). 


  • Analyze new tax laws and developments for individuals and businesses 

  • Determine the tax treatment of different sources of income 

  • Analyze the change in tax rules for certain credits and deductions  

  • Identify extended and expired tax provisions 


Trending Topics and Tax Strategies  


These topics will cover today’s current trends in tax preparation and planning, as well as common situations in which you’ll need to be prepared to develop a tax strategy for your client. To help clarify the practical application of tax strategies, we’ll include examples that demonstrate how tax planning can be customized to meet the unique needs of different clients. 


  • Identify when a taxpayer has missed depreciation  

  • Prepare Form 3115  

  • Outline the reporting requirements for an estate during the first year  

  • Determine when to file Form 706 to utilize DSUE portability  

  • Summarize the requirements for a home office deduction  

  • Prepare Form 8829  

  • Outline common S corporation issues including making a late S election, determining reasonable shareholder compensation and handling asset ownership issues   

  • Summarize common partnerships issues including W-2 wages incorrectly paid to partners, and the requirements and reporting procedures for unreimbursed partnership expenses (UPE)  

Course details

Course Level: Intermediate

Prerequisite: Fundamental knowledge of individual and business income tax

Advanced Preparation: None

Delivery Method: Group Internet-Based

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