April 30, 2025

Webcast Replay

4 CPE

Reviewing Individual Tax Returns: What Are You Missing?

April 30, 2025
Webcast Replay
4 CPE

Reviewing Individual Tax Returns: What Are You Missing?

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    Instructor

    Bill
    Harden

    View Bio

    Bill Harden, CPA, ChFC, Ph.D

    Bio

    J. William Harden, CPA, ChFC, Ph.D., is an associate professor in the Bryan School of Business and Economics at the University of North Carolina (UNC) – Greensboro, where he teaches tax courses on flow-through entities, individual and corporate tax, tax research, Internal Revenue Service (IRS) practices and international tax. Prior to teaching, Bill was a senior tax accountant with an international CPA firm as well as a tax accountant for an international oilfield exploration company.

The sheer mass of Internal Revenue Code provisions affecting individual taxpayers presents a considerable challenge for CPAs and tax professionals. These provisions combined with the potential for input error when utilizing the array of income tax software available, create the potential for a multitude of errors that can occur when preparing your client’s tax return. Join us as we discuss the common errors practitioners make on individual tax returns that are often missed by review staff. Sharpen your reviewing skills by examining case studies discussing issues for which additional information from the client may be warranted, and areas of tax law that require additional analysis and information.

Learning Objectives

  • Identify potential errors or omissions of information on tax returns.
  • Recognize planning opportunities for your clients based upon information reported on a tax return.
  • Determine the proper tax treatment for certain rental property activities.
  • Determine the proper tax treatment for various start-up costs by a new business.
  • Recognize some potential issues surrounding the qualified business income deduction and certain service businesses.
  • Determine proper tax return reporting of a like-kind exchange transaction.

Major Topics

  • Section 199A qualified business income deduction
  • Home office
  • Hobby losses
  • Self-employment health insurance
  • Business start-up costs
  • Depreciation
  • Unreported income
  • Schedule C issues
  • Like-kind exchanges
  • Self-employment tax
  • Sections 1202 and 1244 stock
  • Charitable contributions of property

CPE Credits Available

4 CPE
4
Taxes

Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • Pracitioner
  • Pracitioner's
  • Pracitioners
  • Tax; Taxation

Prerequisites

Basic knowledge of individual income taxation

Advanced Preparation

None

Intended Audience

  • CPA firm partners and managers tasked with reviewing individual tax returns
  • CPA firm staff tasked with preparing individual tax returns
  • CPA sole proprietors specializing in individual taxation

Provider

AICPA

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