Federal Income Tax Update

If you're looking for a comprehensive update on federal tax changes for 2024, attending this digital course could be a great option. Tax advisors will be fully updated on the most recent enacted legislation and IRS guidance, as well as major trends on the horizon with a view toward planning considerations. This update course is designed for all practitioners, both those working in public accounting as well as those in private industry, who need the latest information on tax changes. Here are some topics and details that a typical federal tax update for 2024 we shall cover.

Federal Individual Income Tax Update Part 1

Date: Aug 01, 2024 | Time: 11:00 AM ET | 10:00 AM CT | 08:00 AM PT | 240 Minutes

Topics include:

• Comprehensive coverage of the Inflation Reduction Act, including:
• The Clean Vehicle Credit, Credit for Previously Owned Clean Vehicles, Credit for Qualified Commercial Clean Vehicles, Residential Clean Energy Credit, Energy Efficient Home Improvement Credit, Premium Tax Credit, Elective Payment, Transferability, and Prevailing Wage and Apprenticeship Requirements
• Comprehensive coverage of the SECURE 2.0 Act, including:
• Expanding Enrollment in Retirement Plans, Increase in Age for Required Beginning Date for Mandatory Distributions, New Exceptions to Penalty-Free Withdrawal from Retirement Plans, and recent IRS guidance
• Timely coverage of breaking tax legislation
• Form 1099-K reporting requirements
• Detailed analysis and examples of Sale of Pass-through Entity Interest and Net Investment Income Tax
• The Gig Economy -- Tax implications, Independent Contractor vs. Employee Classification, and the 2024 DOL Final Rule
• New FinCEN reporting requirements under the Corporate Transparency Act in 2024
• Employee Retention Tax Credit updates
• Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more
• Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas

Learning Objectives:

Upon completion of this course, you will be able to:

• Understand the latest enacted tax law changes
• Understand strategies and techniques to use in light of tax changes
• Understand current cases and rulings affecting individuals and businesses

Federal Business Income Tax Update Part 2

Date: Aug 05, 2024 | Time: 11:00 AM ET | 10:00 AM CT | 08:00 AM PT | 240 Minutes

Session Highlights: 

• Discuss the most recent individual and business income tax legislation passed to date
• Walk through major tax changes to corporations and partnerships to the income tax forms and other related schedules
• Review numerous business income tax provisions including but not limited to the 20% qualified business income (QBI) deduction; changes to NOLs, §461(l) business loss limitations, §163(j) business interest deduction limitations, accounting method changes, depreciation, retirement plans, fringe benefits and entertainment expenses
• Review other important IRS audit areas such as basis and at-risk limitations for S shareholders and partners, passive activity losses and real estate professionals and self-employment taxes
• Cryptocurrency
• Real estate issues
• Review of internal revenue code section 199A (pass-through entities) including an understanding of the newly released IRS guidance
• Discuss other important IRS audit areas such as: 

•   Basis and at-risk limitations for S shareholders and partners 
•   Passive activity losses and real estate professionals 
•   Self-employment taxes 
• Partnership, Corporation and LLC issues 
• Defaulted loans and Bankruptcy issues
• The CARES, HEROES, and HEALS acts
• Special rules relating to business use of your home
• Penalties
• Walk through the NEW final required minimum distribution (RMD) regulations

Credits and Other information:

• Recommended CPE credit – 8.0
• Recommended field of study – Tax
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• NASBA Sponsor: 146439
• IRS Course ID: PJGWS-U-00065-23-O
• Attendance Requirement:  Yes
• Session Duration: 8 Hours
• Case Studies and Live Q&A session with speaker
• PowerPoint presentation for reference

Who Will Benefit:

• CPA's
• Tax Attorneys
• Accountants
• Tax Compliance Managers
• Other Tax Professionals

Coder Archives 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.

Speaker Profile:

Yoram Keinan is a member of the New York Tax Club and the current chair of the American Bar Association Tax Section’s Banking Committee. He has taught courses on the taxation of financial instruments at both the University of Michigan Law School and Georgetown University Law Center. He has also lectured on the economics of taxation Harvard University, the University of Florida, and American University.

Prior to joining Kostelanetz & Fink, Mr. Keinan served as a partner at Smith Gambrell & Russell, and headed the Tax Practice at Carter Ledyard & Milburn. He also served as shareholder at Greenberg Traurig’s Tax and International Tax Practices, as senior manager with Ernst & Young’s National Tax Department, as an associate with Shearman & Sterling’s Tax Practice, and as a manager with Ernst & Young’s tax department in Israel. Mr. Keinan also practiced tax law in Israel for several years prior to his arrival at the United States and has been a member of the Israeli Bar since 1996.

In his more than two decades of experience in both the U.S. and Israel, Yoram Keinan has developed a wide-ranging tax practice and has represented multinational entities, banks, insurance companies, hedge funds, private equity funds, REITs, real estate developers and high net-worth individuals. In addition, Yoram has developed extensive experience with respect to the domestic and international taxation of financial products and institutions.