This highly informative course comprehensively covers all the latest tax law developments. The focus is on individual taxation and discussion of the planning opportunities practitioners need to understand to help clients respond effectively.
DESIGNED FOR
All tax practitioners, both those working in public accounting as well as those in private industry, who need the latest information on tax changes affecting their individual clients
BENEFITS
- Understand strategies and tactics to use in light of new legislation
- Understand the most current guidance on retirement planning
- Understand how to nail down valuable deductions and other reductions to the tax base
HIGHLIGHTS
- Timely coverage of breaking tax legislation
- New Form 1099-K reporting requirements
- Detailed analysis and examples of Sale of Passthrough Entity Interest and Net Investment Income Tax
- Residency and Domicile
- Selling a principal residence, including tax planning strategies
- Real Estate professional requirements
- Virtual currency, including recent developments regarding NFTs, new Form 1099-DA, and recently released proposed regulations regarding new IIJA broker reporting requirements
- Review of pertinent cases and rulings affecting taxpayers
- 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
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, 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
COURSE LEVEL
Update
PREREQUISITES
Experience in individual tax planning
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- Qualifies for CFP credit
- Qualifies for IRS credit