Both businesses and individual clients face major changes as a result of new legislation, and tax professionals face the considerable challenge of delivering effective planning advice and services to address this myriad of recent developments. This course addresses this challenge and also encompasses the latest cases and rulings applicable to individual and business clients. Continually updated to reflect enacted legislation. Please Note: Due to content overlap, it is recommended that this course NOT be taken together with BIT4.
Target Audience
Accounting and Finance Professionals who need to know the latest tax law changes in all areas of practice
Course Objectives
Understand strategies and techniques to use in light of new legislation
Understand the latest enacted tax law changes
Understand current cases and rulings affecting your clients
Subjects
Comprehensive coverage of the Inflation Reduction Act, including:
The Clean Vehicle Credit, Credit for Previously Owned Clean Vehicles, Credit for Qualified Commercial Clean Vehicles, Residential Clean Energy Credit, Energy Efficient Home Improvement Credit, and Premium Tax Credit
Comprehensive coverage of the SECURE 2.0 Act, including:
Expanding Enrollment in Retirement Plans, Increase in Age for Required Beginning Date for Mandatory Distributions, and New Exceptions to Penalty-Free Withdrawal from Retirement Plans
Timely coverage of breaking tax legislation
Bonus depreciation
Section 174 Research and Experimental Expenditures
New FinCEN reporting requirements in 2024
Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas
