Don Farmer’s 2024 Individual Income Tax Workshop

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;” And

3) Review Various Tax Law Provisions that tend to be problem areas for practitioners and clients.

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.

The Course Material Includes:

• A Reference Manual With Each Chapter Containing Basic Rules, Selected Items Of Interest, 2024 Developments, Planning Ideas, And A Listings Of Related IRS Forms And Publications.
• Where Applicable, A Segment In Each Chapter Of Relevant New Law Changes And Latest Developments.
• Checklist Of Expiring Individual Income Tax Provisions.