The Tax Cuts and Jobs Act of 2017 (TCJA), signed into law during the closing days of 2017, significantly affects tax planning and the income tax liability for many taxpayers. This course will examine the principal changes affecting individual taxpayers made by the TCJA.

The course re-examines TCJA provisions which have the most significant effect on tax planning and income tax liability of individual taxpayers. These provisions include such issues as changes in tax rates, credits, deductions, and exclusions. There is specific attention focused on changes in itemized deductions, the AMT, and children's income, as well as student loan and retirement plan options. In addition, it will consider the business-related TCJA provisions affecting individual taxpayers, including the pass-through deduction for qualified trades or businesses under IRC § 199A.

Upon completion of this course, you should be able to:

• recognize and apply the applicable individual income and capital gains tax rates under the TCJA
• identify the changes in deductions, exclusions, adjustments and tax credits resulting from the TCJA
• calculate the alternative minimum tax (AMT) and Kiddie tax
• list the changes affecting Section 529 plans, ABLE accounts, discharge of student loan indebtedness, accounting for net operating losses and the individual responsibility requirement under the Affordable Care Act calculate the pass-through deduction available under IRC §199A

Tax Year: 2023

CPA, EA, and other tax professionals