Don Farmer Individual Income Tax Workshop - VIRTUAL
8.00 Credits
Member Price $275
Non-Member Price $375
Overview
In this course, we review current year developments, recurring problems and planning ideas. Using a combination of humor and examples, we will focus on tax developments that affect 2024 individual income tax planning and return preparation. 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 2024 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.
Highlights
Prerequisites
At least one tax season
Designed For
Individuals who prepare individual income tax returns or who engage in individual income tax planning.
Objectives
- Provide explanations and planning ideas relating to the latest individual income tax developments, including the most recent guidance on new tax law provisions
- Help practitioners prepare for "tax season"
- Review various tax law provisions that tend to be problem areas for practitioners and clients.
Preparation
None.
Notice
Leader(s):
Leader Bios
James Harden, AICPA
James “Bill” Harden, Ph.D., CPA, ChFC, is an Associate Professor in the Bryan School of Business and Economics at the University of North Carolina at Greensboro where he teaches tax courses on flow-through entities, individual and corporate tax, tax research, IRS practices, and ethics. Bill has over twenty years of experience in taxation. He began his public accounting career in 1990 in the Dallas office of one of the Big Six accounting firms. In addition to his university teaching, Bill consults on tax and financial planning issues and maintains a sole practice in North Carolina, focusing on taxation and financial consulting for small businesses and individuals.
Bill has testified before the House Ways and Means Oversight Sub-Committee on Internet taxation issues. He was the recipient of a Lybrand Certificate of Merit in 2002. Bill has been involved in CPE instruction for over a decade. He received NCACPA outstanding instructor awards in 2009, 2010, and 2011. Bill has authored over 30 publications in tax accounting and financial planning journals, including the Journal of Financial Service Professionals, Strategic Finance, National Tax Journal, Journal of Business Finance and Accounting, Tax Notes, Tax Advisor, and Journal of the American Society of CLU and ChFC.
Bill is currently a member of the American Accounting Association, the American Taxation Association, the National Tax Association and the North Carolina Association of CPAs. He is a past board member of the Piedmont Chapter of the NCACPA.
Non-Member Price $375
Member Price $275