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Secure Transaction CPE Credits
6 Credits: Taxes
Course Level
Overview
Format
Self-Study
Course Description
Each year, various limits affecting income tax preparation and planning change. Some changes commonly occur each year as a result of inflation indexing, while others occur because of new legislation or the sunsetting of existing law. This course will examine the tax changes affecting 2024 as a result of passage of the SECURE Act 2.0 and the inflation-changed limits effective for 2024 that are more significant from the perspective of an income tax preparer. Some context will be supplied, as appropriate, to assist readers in understanding the changes.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- List the 2024 changes in various amounts including the –
- Standard mileage rates,
- Standard deduction,
- AMT exemption amount,
- Limits related to income from U.S. Savings Bonds for taxpayers paying higher education expenses, and
- Deductions for qualified long-term care insurance premiums;
- Identify the 2024 tax credit changes affecting the –
- Saver’s credit,
- Additional Child Tax Credit,
- Earned income credit, and
- Adoption credit;
- Recognize the 2024 changes affecting –
- Health Savings Account (HSA) and Archer Medical Savings Accounts (MSA) requirements and contribution limits,
- Roth IRA eligibility, and
- Traditional IRA contribution deductibility for active participants in employer-sponsored qualified plans;
- List the changes effective for 2024 with respect to the –
- Small employer premium tax credit, and
- Applicable large employer mandate; and
- Determine the changes to retirement plans resulting from the Secure Act 2.0 that affect income tax preparation.
Course Specifics
SS824404871
November 8, 2024
There are no prerequisites.
None
151
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02663-24-S
IRS Federal Tax Law Credits: 6
CTEC Course Number: 2071-CE-2106
CTEC Federal Tax Law Credits: 6
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
Paul J. Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.
QAS Self-Study
