Surgent's Top Business Tax Planning Strategies
Online
2.00 Credits
Member Price $99.00
Non-Member Price $134.00
Overview
Tax planning for 2024 is largely based upon legislation contained within the Inflation Reduction Act and the SECURE Act 2.0, both enacted in 2022, that offer new planning options and challenges for businesses in 2024. There are, however, other business tax changes in 2024 that result from different pieces of tax legislation, IRS pronouncements, and court cases that need to be taken into account from a planning perspective.
This program analyzes the new opportunities and challenges that these tax changes offer to businesses and their owners that impact 2024 and sometimes later years.
Objectives
- Advise business owner clients on adopting tax planning strategies that would reduce their tax liability for 2024
Highlights
- Complying with the beneficial ownership information reporting requirements
- The current status of the Employee Retention Credit Voluntary Disclosure Program
- Using the newly expanded access to business tax accounts for partners and shareholders of S corporations
- IRS guidance allowing car dealers to provide electric vehicle tax rebates upfront to qualified auto buyers
- Monetizing energy credits
- Amortization of research and experimental expenditures
- Dealing with the taxpayer loss in the Tax Court in Soroban Capital Partners requiring managers to pay self-employment tax on certain payments to limited partners
- Contributions to Roth “catch-up” plans
- Roth contributions to a SEP and Simple IRA
- Employer matching contributions to a Roth account
- Section 179 and bonus depreciation
- Roth 401(k) contributions no longer subject to RMDs during the owner’s lifetime
Designed For
Tax practitioners who anticipate advising business clients in 2024 regarding strategies to reduce or eliminate federal income taxation
Prerequisites
A basic understanding of the tax rules relating to individual income tax
Preparation
None
Notice
To access this program, log into your CTCPA account at https://www.ctcpas.org/my-cpe/upcoming and click on the orange “Launch Event” button.
Leader(s):
Leader Bios
Michael Tucker, Surgent McCoy CPE, LLC
MICHAEL J. TUCKER, CPA, MBA, J.D., LL.M., Ph.D. Mike is an employee of Surgent McCoy CPE, LLC. He authors materials and scripts for the monthly Edward Jones sponsored All Star Tax programs. Mike also writes materials for and conducts almost daily webinars on a variety of tax related topics. Mike works in the offices of T. M. Byxbee Company, CPAs, Mike’s duties at T.M. Byxbee Co. involve advising individual and business clients on a wide variety of transactional matters. Mike was formerly a professor of accounting at Quinnipiac University, in Hamden, CT, where he taught graduate and undergraduate law and tax programs. Mike received his J.D. from New York University and his LL.M. from Georgetown University Law Center. He is a CPA and received his Ph.D. from the University of Houston.
Non-Member Price $134.00
Member Price $99.00