Surgent’s Schedule 1-A: Implementing Important OBBBA Deductions for 2025
Description
Schedule 1-A is a new tax form designed to consolidate four key OBBBA deductions that can be taken for the first time in 2025. Ultimately these four deductions: the tip deduction, the overtime deduction, the deduction for interest paid on a new car loan, and the senior deduction, appear as a single entry on line 13b of Form 1040. These deductions are phased out at higher income levels, the calculation of which takes place on Schedule 1-A.
Accounting and finance professionals who wish to understand the mechanics of the four deductions and how they are expressed on Schedule 1-A and consolidated on Form 1040 would benefit from taking this program.
Objective
Implement the most common OBBBA changes for tax year 2025 using the new Schedule 1-A
Advanced Preparation
None
Required Knowledge
None
Who Should Attend
Accounting and finance professionals who will be advising clients regarding new OBBBA deductions that will be taken for the first time in tax year 2025
Credit Types
- CPE – Taxes
- Enrolled Agent
Registration Fees
| Registration | Type | Price |
|---|---|---|
| WRS27326: Registration – Member | Mem | $105 |
| WRS27326: Registration – Non-Member | NM | $230 |
The North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.