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Webcast

2024 Federal Tax Update (Individual Edition)

Individual
Teams

Original price was: $392.00.Current price is: $313.00.

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CPE Credits

8 Credits: Taxes
Course Level
Update
Format
Webcast

Course Description

America’s #1 Federal Tax Update – Individual edition is focused on combining the real-life experience of practicing CPAs with all the latest legislative developments enabling participants to quickly understand and implement tax reform changes for their client’s Individual preparations. Western CPE provides you the essential knowledge by reviewing IRS, Congressional, and Judicial actions over the past year in a high-energy, often humorous presentation style. By using real-life experiences to break down complicated tax topics, Western CPE’s Federal Tax Update proves you can get smart explanations without dying of boredom or getting lost in overly-complicated explanations. You’ll receive the most complete and up-to-date reference manual, written by our renowned tax experts including Western CPE’s very own Sharon Kreider. In addition, the digital PDF manual is hyperlinked to the Internal Revenue Code, tax court decisions, and other primary authorities, making it extremely convenient.  Join us as our world-class tax instructors share cutting-edge tax planning strategies.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Analyze and apply current tax law changes and their projected impacts, including TCJA expiration effects.
  • Calculate and implement appropriate tax planning strategies, including estimated tax payments and deduction limitations.
  • Evaluate and explain tax treatment of emerging financial instruments and transactions, particularly in digital assets.
  • Analyze current status and projected changes to major social programs and their tax implications.
  • Apply current rules for various deductions and credits, including limitations and special provisions.
  • Identify and apply current international tax reporting requirements and associated penalties.
  • Analyze and apply changes implemented by SECURE 2.0, including new distribution rules and Roth account treatments.
  • Evaluate and apply current RMD rules, including penalties and waivers for non-compliance.
  • Identify and explain benefits and requirements of Roth accounts, including conversion considerations and inheritance rules.
  • Understand and apply current protections for retirement accounts, including bankruptcy exemptions and fraud considerations.
  • Apply rules regarding retirement plan loans, early distributions, and special exceptions for specific employee categories.
  • Analyze and apply passive activity loss limitations under §469, including specific exceptions and requirements.
  • Evaluate and determine proper classification of rental activities, including exceptions and special rules.
  • Identify and apply requirements for qualifying as a real estate professional, including material participation tests.
  • Apply rules regarding related party exchanges and other property transactions, including gain recognition requirements.
  • Calculate and apply gain exclusions for personal residence sales, including limitations and special provisions.
  • Calculate and apply current estate tax exclusions and exemptions, including inflation adjustments and future changes.
  • Evaluate and implement estate planning strategies, including wills and trust considerations.
  • Analyze and apply current gift tax provisions, including annual exclusions and planning opportunities.
  • Apply rules regarding trust and estate administration, including deductions, losses, and distributions.
  • Identify and implement current regulatory requirements and proposed changes affecting estates and trusts.
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Course Specifics

Course ID
24FTU-Individual-WC
Revision Date
November 4, 2024
Prerequisites

None

Advanced Preparation

None

Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-02672-24-O
IRS Federal Tax Update Credits: 4
CFP Provider Number: 3199
CFP Course Number: 331447
CFP Credits: 8
IRS Course Number (Part 2): 0MYXB-U-02673-24-O
IRS Federal Tax Update Credits (Part 2): 4
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-2110
CTEC Federal Tax Update Credits: 4
CTEC Course Number (Part 2): 2071-CE-2111
CTEC Federal Tax Update Credits (Part 2): 4

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

Mark Seid, EA, CPA, USTCP

Mark Seid, EA, CPA has over 25 years of experience in field of taxation focused on tax controversy. A National Tax Practice Institute graduate, Mark is admitted to practice before the U.S. Tax Court. He has served as an Internal Revenue Agent with the IRS in San Jose and San Luis Obispo, California, a state director for the California Society of Enrolled Agents, and the chair for the society’s Finance and Budget committee. He regularly presents courses to tax professionals on issues affecting small businesses.

Sharon Kreider, CPA

Sharon Kreider, CPA, has helped more than 15,000 California tax preparers annually get ready for tax season. She also presents regularly for the AICPA, the California Society of Enrolled Agents, CCH Audio, and Western CPE. You’ll benefit from the detailed, hands-on tax knowledge Sharon will share with you—knowledge she gained through her extremely busy, high-income tax practice in Silicon Valley. With her dynamic presentation style, Sharon will demystify complex individual and business tax legislation. She’s a national lecturer for business and professional groups and consistently receives outstanding evaluations. In 2014, she was awarded the prestigious AICPA 2014 Sidney Kess Award …

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