Overview:
In this course, we review current year developments, recurring problems and planning ideas affecting individual, corporate and business income taxation. Using a combination of humor and examples, we will emphasize all major new tax legislation as well as other significant tax developments that affect 2024 tax return preparation and 2024 income tax planning for individuals, corporations and non-corporate businesses.
Delivery Method: Group internet-based
CPE Credit: Taxes
Program Level: Update
Objectives:
This course is designed to: Provide explanations and planning ideas relating to the latest 2024 corporate and business tax developments, including the most recent guidance on new tax law provisions. Help practitioners prepare for "tax season." Review tried-and-true traditional tax planning opportunities. The course includes a comprehensive reference manual with each chapter containing basic rules, selected items of interest, 2024 developments, planning ideas, and listings of related IRS forms and publications.
Presenters:
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David Peters
David R. Peters, CPA, CFP, CPCU, MST, MBADavid Peters is the Founder and Owner of David Peters Financial Group and Peters Tax Preparation & Consulting, PC. David has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for...
Read more about David Peters here
Presenters:
David Peters
David R. Peters, CPA, CFP, CPCU, MST, MBADavid Peters is the Founder and Owner of David Peters Financial Group and Peters Tax Preparation & Consulting, PC. David has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for...
Read more about David Peters here
Major Topics:
Review of Corporate and Other Business Income Taxation Including: ? Segments Covering: S Corporations; Partnerships; Constructive Dividend Issues; the 20% QBI Deduction; Purchase And Sale of Businesses; 1031 Exchanges; Travel, Meal, and Entertainment Deductions; Fringe Benefits; 179 and 168(k) Depreciation Deductions; Accounting Methods Including Final Regulations Explaining Treatment Of Inventories And Use Of The Cash Method For Taxpayers With Average Gross Receipts Of $29 Million Or Less; Rev Proc Providing Rules For Automatic Accounting Method Changes; When Rental Income is Subject To S/E tax; Election To Pay State Income Taxes At The Entity Level By S Corps and Partnerships; Business Interest Expense Limitation; Partnership And S Corp Developments Including Developments Relating To Filing Forms K-2 and K-3; and Other Business Topics. ? Significant 2023 Developments Including: Any New 2023 Legislation; SECURE Act 2.0 Provisions Effective For 2023; Commercial Vehicles Qualifying For New Electric Vehicle Credits; Inflation Reduction Act Provisions Affecting Businesses and Effective For 2023; and Many Others. • Review of Significant Tax Provisions and Changes First Effective in 2023.
Major Topics:
Review of Corporate and Other Business Income Taxation Including: ? Segments Covering: S Corporations; Partnerships; Constructive Dividend Issues; the 20% QBI Deduction; Purchase And Sale of Businesses; 1031 Exchanges; Travel, Meal, and Entertainment Deductions; Fringe Benefits; 179 and 168(k) Depreciation Deductions; Accounting Methods Including Final Regulations Explaining Treatment Of Inventories And Use Of The Cash Method For Taxpayers With Average Gross Receipts Of $29 Million Or Less; Rev Proc Providing Rules For Automatic Accounting Method Changes; When Rental Income is Subject To S/E tax; Election To Pay State Income Taxes At The Entity Level By S Corps and Partnerships; Business Interest Expense Limitation; Partnership And S Corp Developments Including Developments Relating To Filing Forms K-2 and K-3; and Other Business Topics. ? Significant 2023 Developments Including: Any New 2023 Legislation; SECURE Act 2.0 Provisions Effective For 2023; Commercial Vehicles Qualifying For New Electric Vehicle Credits; Inflation Reduction Act Provisions Affecting Businesses and Effective For 2023; and Many Others. • Review of Significant Tax Provisions and Changes First Effective in 2023.
Designed For:
Individuals who prepare income tax returns for businesses or who engage in income tax planning for businesses
Prerequisites:
None
Accommodations:
VSCPA