This webinar will include an overview of Form 1040 and major schedules to demonstrate to financial planners how the form reveals essential information about the client. The various schedules of the form are important for gathering items of income, deductions, and credits. Accountants, financial planners, and other tax professionals will learn how the form raises questions to consider that the client does not disclose through traditional checklists and interview sheets. The course also includes a general update on recent federal tax law changes.

Learning Objectives:

• Describe the basic forms and schedules of Form 1040 including the flow of information


• Determine how the form and its schedules reveal essential information needed to make solid recommendations


• Evaluate line by line the items of income, gain, loss, deductions, and credits that have an effect on a client's financial situation


• Differentiate between deductions and credits and describe how the tax rate schedules are applied to the taxable income of the client


• Identify how to use the information obtained to seek additional opportunities for financial planners to better serve their clients


• Summarize updates on recent federal tax law changes