24SR-0019: Federal Tax Update: Individuals (Form 1040) (Virtual)

Wednesday, December 11, 2024
8:30am - 4:30pm Central Time
8 CPE (8 technical)

With the increasing complexity and ever-changing nature of tax laws and issues, today's accountant needs a one-day update course focusing on individual income tax issues with an emphasis on newly enacted income tax legislation. This comprehensive class will review the current federal individual income tax laws. Explore new tax forms, changes to existing tax forms and tax planning opportunities and pitfalls. This course is a comprehensive review of the federal individual income tax provisions and tax forms/schedules that will affect the 2024 tax returns and 2025 tax projections with an emphasis on newly enacted income tax legislation, court cases, and IRS guidance.

Major subjects

• Federal individual income tax provisions and tax forms/schedules that will affect the 2024 tax returns and 2025 tax projections
• Newly enacted income tax legislation
• Court cases
• IRS guidance

Learning objective(s)

• Understand the major federal income tax laws impacting individuals
• Identify and comprehend any newly enacted legislation, changes and IRS guidance affecting individual income tax returns
• Discuss the most recent individual income tax legislation passed to date
• Review numerous individual income tax provisions related to business (i.e., sole proprietors and owners in pass through entities) including but not limited to the 20% qualified business income (QBI) deduction, Section 461(l) business loss limitations, and depreciation.
• Cover issues related and any changes to the various taxes (i.e., income tax rates, capital gain tax rates, self-employment tax and alternative minimum tax (AMT), 3.8% net investment income tax)
• Brush up on other topics such as income filing status, personal exemptions, itemized deductions, exclusions from income, adjustments to income, rentals, passive activity rules and individual income tax credits (e.g., child tax credit and dependent care credit)
• Walk through the new final required minimum distribution (RMD) regulations
• Look at any changes to the Form 1040 and other related schedules and forms

Who should take this program?

Tax accountants in public or private practice in need of power-packed federal individual income tax update course. This is a great course to gear up for tax season.

Fees

Standard Member Fee	$349.00
Standard Nonmember Fee	$449.00

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