Description

This course covers the latest Federal updates for tax year 2026. The new deductions for No Tax on Tips, Overtime, and Car Interest will be discussed. The Senior deduction and Lifetime Exclusion for Estates will be highlighted. A review of credits and deductions available for 2026 will be examined

Objectives

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

• Review changes to Child Tax Credit, Daycare Credit, and indexing of Standard Deduction
• Look at the new deductions for Tips, Overtime, and Seniors
• Detail the expansion of the Bonus depreciation, increased §179, and business changes

Details

Instructor

Randy Adams, EA

Duration

100 minutes

Prerequisite

None

Advanced preparation

None

Delivery method

Group Live

Description

EIC Eligibility and Due Diligence: [1-Hour] The earned income tax credit (EIC) is a refundable tax credit that provides a tax break to taxpayers with low to moderate income. Tax professionals who prepare returns claiming the earned income tax credit (EIC) must comply with the IRS's strict due diligence requirements for each return filed and understand the rules used to determine eligibility for the credit. Failing to comply with the due diligence requirement or filing a return that erroneously claims the EIC can lead to the preparer facing a penalty of $635 (2025) for each failure. This session provides tax preparers with the information they need to comply with due diligence requirements, determine whether a taxpayer qualifies for the EIC, calculate the proper credit amount and identify the penalties for incorrectly claiming the credit.

Objectives

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

• Summarize EIC Qualifications
• Review rules for qualifying individuals including taxpayers with no children
• Outline requirements for tax preparer due diligence
• Complete and Analyze Form 8867, Paid Preparer's Due Diligence
• Understand the questions a preparer should ask a client claiming EIC
• Examine the Seven (7) rules for everyone
• Examine additional rules for taxpayers with qualifying children
• EIC Eligibility Checklist
• What is Due Diligence
• Provide Tax Professionals with necessary resources

Details

Instructor

Randy Adams, EA

Duration

50 minutes

Prerequisite

General understanding of federal tax law

Advanced preparation

None

Delivery method

Group Live

Description

This course highlights the many facets of digital assets. We review how to invest in it, how to trade it, and the unique language involved. We look at all aspects of tax liability from the different self-employment and investor options. Objectives Identify how to invest, trade, and use digital assets and the many platforms of decentralized operations used by taxpayers. Look at the latest rules the IRS is implementing, like the John Doe Summons, to encourage more reporting of taxable events Analyze mining, staking, and other aspects of income- generation Discuss basis and gains and how to report them

Details

Instructor

Randy Adams, EA

Duration

50 minutes

Prerequisite

General understanding of federal tax law

Advanced preparation

None

Delivery method

Group Live

Description

The One Big Beautiful Bill Act (OBBBA) established Trump Accounts, a new federal, tax-advantaged investment account for children under age 18. The program provides a government seed contribution for certain children born between January 1, 2025, and December 31, 2028, along with the ability for families and employers to make additional contributions, subject to annual limits. The Treasury Department and IRS have issued initial implementation guidance (Notice 2025-68) and announced forthcoming regulations, prompting growing client interest. In this webinar, we will cover how Trump Accounts operate, eligibility requirements, current contribution and distribution rules, and the steps needed to register eligible children for the pilot program. We will emphasize practical client guidance and compliance considerations, including which families may benefit most, how to coordinate contributions with employers or philanthropic organizations, required recordkeeping, and key issues to monitor as final regulations are released.

Objectives

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

• Identify eligibility requirements for Trump Accounts, including qualification for the federal seed contribution and pilot program registration requirements
• Apply current contribution and distribution rules, including annual limits, permissible funding sources, and coordination of family, employer, and philanthropic contributions
• Analyze the tax treatment of contributions, earnings, and distributions under IRS Notice 2025-68
• Compare Trump Accounts with other child-savings vehicles, including 529 plans, UTMA/UGMA accounts, and traditional or Roth IRAs for working minors

Details

Instructor

Randy Adams, EA

Duration

50 minutes

Prerequisite

General understanding of federal tax law

Advanced preparation

None

Delivery method

Group Live

Description

Don't Flip out, Tax Implications of House Flipping [2-hour CPE] You have seen house flipping shows on television, if not, you have probably heard of people flipping homes for a profit. But what you have not seen discussed on these TV shows or at the local coffee shop, is what are the tax implication of Flipping a dwelling. In general, flipping is a type of real estate investment strategy in which an investor purchases a property at a low price not to use, but with the intention of quickly selling it for a profit. Where do the transactions go? Will it be Schedule C, Schedule E, Schedule B, Form 8949 and Schedule D, or a combination of these forms? Will expenses and or renovations be capitalized or expensed in the current year? What was your client's intent upon purchasing the property? Is your client an investor or dealer? Can you utilize IRC Section 1031, Like-kind exchange, related to the flipped home?

Objectives

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

• Explore what is a Trade or Business under IRC §162
• Examine distinction between a dealer and an investor
• Analysis of case law
• Investigate what Forms do we use for the flipping transactions
• Examine if the number of transactions each year makes a difference on how sale is treated
• Assess nature and intent of taxpayer
• Review other factors that affect related tax implications

Details

Instructor

Randy Adams, EA

Duration

100 minutes

Prerequisite

General understanding of federal tax law

Advanced preparation

None

Delivery method

Group Live

Description

This session will cover timely updates regarding income taxes in the state of Iowa. The instructor will bring resources from the Iowa Department of Revenue for the 2026 tax year. No continuing education credit is available for this session.

Details

Instructor

Randy Adams, EA

Duration

105 minutes

Prerequisite

General understanding of state tax law

Advanced preparation

None

Delivery method

Group Live