NOTE: There will be an opportunity to receive answers from the instructor in real-time by submitting your questions in the Q&A forum on the webinar page!

Combining the real-life experience of working with numerous CPA firms and tax professionals around the country, as well as comprehensive easy-to-read materials containing pertinent examples and illustrations, this powerful course essentially becomes a “must” for those practitioners needing a forum to review client issues that arose during this busy season which will certainly go down as another one of the most difficult and confusing to-date, causing many returns to be extended (or, amended). Also, critical tax issues and mid-year planning strategies for 2024 will be thoroughly covered, along with the most important tax developments, cases, IRS rulings and regulations over the last 6 months that we maybe only had a chance to glanced at, given the bombardment of information and issues. Click here to view a detailed course description.

Topics & Learning Objectives Include:

• Update on the Inflation Reduction Act of 2022 and the SECURE 2.0 Act of 2022 and how they impact preparation of 2024 tax year returns
  
• Update on Form 1099-K filing requirements and “beneficial ownership” reporting rules
• Another delay in RMDs for inherited retirement accounts
• New Roth IRA conversion option for excess Sec. 529 plan balances
• Review of S corp owner basis requirement statement on Schedule E - Form 7203
• An overview of virtual currency, including recent developments
• Increased “luxury car” caps for 2024; Gain recognition on sale or trade-ins of used business vehicles
• Form 3115 for “automatic consent” accounting changes and negative Sec. 481 adjustments
• Status update on reductions in bonus depreciation and R&D credit
• Tax planning with Sec. 754 step-up elections
• Tax planning with RMDs and QCDs
• IRS audit effort focuses on partnership loss limitation rules
• Update on Sec. 461(l) “excess loss deduction” limits for 2024
• Impact of SALT cap on state passthrough entity tax (PTE) elections
• Interaction of SALT cap and “tax benefit” rule for state/local income tax refunds
• QIP issues with MACRS 15-year classification and eligibility for bonus depreciation
• Coverage of the latest IRS guidance and issues with Sec. 199A deduction

Click On The Video Below To View A Demo of Prof. Connors

Prof. John Connors is one of the most knowledgeable tax lecturers in the nation. He has the ability to simplify the most complex tax rules. Bring in all your tax questions and get a CORRECT answer.