Federal Income Tax Changes - 2017 (3 hour version)
Credit Hours: 3
Field of Study: Taxes
Requires Prerequisites or Advanced Preparation: No
Delivery Method: Online PDF
Instructor: Paul Winn, CLU, ChFC
Upon completion of this course, you should be able to:
- List the 2017 changes in various amounts including:
- Standard mileage rates.
- The standard deduction.
- The exemption amount.
- The AMT exemption amount.
- The limits related to income from U.S. Savings Bonds for taxpayers paying higher education expenses.
- Deductions for qualified long-term care insurance premiums.
- Identify the 2017 tax credit changes affecting the:
- Saver's credit.
- Earned income credit.
- Adoption credit.
- Recognize the 2017 changes affecting:
- Health Savings Account (HSA) and Archer Medical Savings Accounts (MSA) requirements and contribution limits.
- Roth IRA eligibility and Traditional IRA contribution deductibility for active participants in employer-sponsored qualified plans.
- List the changes effective for 2017 brought about by the Patient Protection and Affordable Care Act with respect to the:
- Individual penalties under the shared responsibility provision mandating insurance coverage.
- Small employer premium tax credit.
- Applicable large employer mandate.