Don Farmer's 2024 Federal Tax Update
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(Check-In 7:30am)
Virtual
8.00 Credits
Member Price $384.00
Non-Member Price $509.00
Overview
In this course, we review current year developments 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 tax planning for individuals, corporations and non-corporate businesses. The course format is designed to update CPAs with various levels of experience.
Delivery Method: Group internet-based
CPE Credit: Taxes
Program Level: Update
Virginia Society of CPAs is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Highlights
The major topics covered in this seminar include: 1) A review of the latest new law provisions affecting 2024 returns including developments relating to SECURE 2.0 and the Inflation Reduction Act; 2) A review of any tax legislation enacted in 2024; 3) FinCEN’s beneficial ownership information reporting rules; 4) Regulations modifying the required minimum distribution (RMD) rules for 2024; 5) An analysis of 2024 developments relating to energy credits, including energy efficient improvements to residences and developments concerning electric vehicles; 6) Employee Retention Credit Developments; 7) 1099-K reporting rules for 2024; 8) Digital asset developments; 9) New tax cases, rulings, and regulations expected to have the most significant impact on individuals and businesses. The presentation will emphasize tax planning opportunities resulting from these recent developments.
Prerequisites
None
Designed For
Individuals with experience with one or more tax season(s) who have a general understanding of individual, corporate and business income taxation who are involved in the preparation and/or review of individual, corporate and business income tax returns or who provide tax planning advice to individuals and businesses
Objectives
To review major developments in federal income taxation for individuals, corporations, and other businesses having the greatest impact on participants, their clients, and their companies. The course will emphasize developments affecting 2024 returns and tax planning, including any new 2024 legislation, important regulations, rulings, and court cases. The seminar is designed to update participants concerning 2024 tax developments emphasizing practical solutions to problems and tax planning opportunities.
Preparation
None
Notice
VSCPA
Leader(s):
Leader Bios
R. Donald Farmer, Don Farmer, CPA, PA.
Don Farmer, CPA, is president of Don Farmer, CPA, PA. A former tax partner with Deloitte & Touche, LLP, he resigned his position as partner and became a consultant in order to devote most of his time to writing and lecturing. Each year, Farmer writes and presents CPE programs across the U.S., making presentations in more than 40 states. He has also held the following positions: director for the North Carolina Association of CPAs (NCACPA), CPE chair for NCACPA, chair of the American Group of CPA Firms’ Tax Steering Committee, president of the Catawba Valley Chapter of the National Association of Accountants, president of the Catawba Valley Estate Planning Council and president of the Catawba Valley Chapter of the NCACPA. Farmer has also contributed articles to nationally known tax magazines.
Non-Member Price $509.00
Member Price $384.00