Webcast: Don Farmer's Tax Update

Overview

Presented by J. William Harden, CPA (in NC), ChFC, Ph.D. This course is designed to review major developments in federal income taxation for individuals, corporations and other businesses having the greatest impact on participants, their clients and their companies. The course will emphasize developments affecting 2024 returns and tax planning, including any new 2024 legislation, important regulations, rulings and court cases. The seminar is designed to update participants concerning 2024 tax developments emphasizing practical solutions to problems and tax planning opportunities.

Highlights

The major topics covered in this seminar include:

• A review of the latest new law provisions affecting 2024 returns including developments relating to SECURE 2.0 and the Inflation Reduction Act.
  
• A review of any tax legislation enacted in 2024.
  
• FinCEN’s beneficial ownership information reporting rules.
  
• Regulations modifying the required minimum distribution (RMD) rules for 2024,
  
• An analysis of 2024 developments relating to energy credits, including energy efficient improvements to residences and developments concerning electric vehicles.
  
• Employee Retention Credit Developments.
  
• 1099-K reporting rules for 2024.
  
• Digital asset developments.
  
• New tax cases, rulings, and regulations expected to have the most significant impact on individuals and businesses.

The presentation will emphasize tax planning opportunities resulting from these recent developments.

COURSE MATERIAL

The course material includes:

• A checklist of expiring individual income tax provisions.
  
• Suggested planning ideas for businesses and individuals.
  
• An updated listing of items indexed for inflation.

Prerequisites

At least one tax season.

Designed For

This course is designed for individuals who prepare individual income tax returns or who engage in individual income tax planning.

Objectives

In this course, we review current year developments, recurring problems and planning ideas. Using a combination of humor and examples, we will focus on tax developments that affect 2024 individual income tax planning and return preparation.