This Course Is Designed To:

1. Provide explanations and planning ideas relating to the latest individual income tax developments, including the most recent guidance on new tax law provisions.
2. Help practitioners prepare for “tax season.”
3. Review various tax law provisions that tend to be problem areas for practitioners and clients.

Major Topics The materials include a review of individual income taxation including:

• The Child Tax Credit, Dependent Care Credit, Premium Tax Credit and Earned Income Credit; forgiveness of debt; charitable contribution deductions; the Kiddie Tax; taxation of damage awards; tax benefits for education including the American Opportunity Tax Credit; capital gains and losses; §1031 exchanges; qualified opportunity funds; gain exclusion upon sale of principal residence; qualified plans and individual retirement accounts (including changes made by SECURE Act 2.0); interest deductions, including the home mortgage interest deduction; medical expenses; deduction for state and local taxes; home office deductions; hobby losses; and the passive activity limitations.
• Significant 2023 Developments Including: Any new 2024 legislation; court cases, rulings and other non-legislative developments including new guidance on qualified plans, RMDs, virtual currency, green energy credits, and much more.
• Planning ideas, including planning with new tax legislation.