Course Description

Determining dependency is normally straightforward in most situations. However, with the changing family dynamic in current times, practitioners are more often facing unique living and social situations from their clients. In these unique circumstances, determining who is a dependent and who isn’t can be difficult. Through true to life discussion questions and plain English explanations of code sections, this course explores the modern idea of dependency after the Tax Cuts & Jobs Act (TCJA).

Learning Objectives

  • Identify changes to the personal exemption

  • Indicate which tax credits are affected by dependency

  • Recognize the different types of dependents and the qualification tests for each type

  • Recall the rules for claiming a Qualifying Child in the instance where more than taxpayer may be eligible to claim the dependent

  • Determine which taxpayers are able to claim a Qualifying Relative in the case of a multiple support agreement

Additional Required Materials

  • Level: Intermediate

  • Field(s) of Study: Taxes (NASBA); Fundamental and current tax law (CFP); Federal Tax Law (IRS)

  • Who Should Attend: Tax practitioners who deal with complex family and dependency situations

  • Required Knowledge: Working knowledge of individual tax concepts

  • Advanced Prep: None

Instructor

CPA, CPCU, MST, MBA David Peters

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA. He has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, and ethics throughout the United States. He holds four Masters degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.