Self-Study Course Details
The Tax Cuts and Jobs Act of 2017 (TCJA), signed into law during the closing days of 2017, will significantly affect tax planning and the income tax liability for many taxpayers. This course will examine the principal changes affecting individual taxpayers made by the TCJA.
It examines the provisions of the TCJA with increased potential to affect the taxation of individuals and which are related to changes in:
- Individual and capital gains tax rates;
- Standard deduction and exclusions;
- Income and adjustments to income;
- Itemized deductions in Form 1040 Schedule A;
- Form 1040 Schedule C;
- Tax credits;
- Individual alternative minimum tax (AMT);
- Taxation of unearned income of minor children;
- Qualified tuition plans;
- ABLE accounts;
- Tax treatment of student loan indebtedness discharges;
- Net operating losses; and
- Affordable Care Act individual responsibility requirement.
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.
- 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
- Identify 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 general pass-through deduction available under IRC §199A.
Paul J. Winn CLU ChFc is a financial writer, editor and trainer in the insurance industry. Past positions have included product developer, compensation officer, marketing VP, VP of strategic planning as well as being President of Maryland Financial Corporation. Mr. Winn has served on multiple Insurance Industry Boards including Baltimore Chapter of CLU and ChFC and Member/Secretary, Advisory Board to New York State Insurance Department. He is well known as a writer and editor of major mutual life insurance company’s agent-training ”university” and has created more than 100 training/continuing education courses. He is also a published book author.
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Self-Study: CPE certificates will be accessible through your dashboard immediately after passing the qualified assessment.
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