Date: January 16th, 2025

Duration: 240 Minutes

Time: 1pmET | 12pm CT | 11am MT | 10am PT

Description:

As tax laws become increasingly complex and dynamic, today’s accountants require an efficient, one-day update course that covers the most pressing Federal income tax topics impacting individuals, businesses, and their owners. This course places a strong emphasis on recently enacted income tax legislation.

In this fast-paced  session, participants will receive a thorough review of newly enacted income tax laws, updates on income tax regulations, relevant court cases, IRS notices, revenue procedures, and private letter rulings that affect both individuals and businesses.

Learning Objectives

• Discuss significant Federal income tax laws affecting individuals and various business entities, including C and S corporations, partnerships, LLCs, and LLPs.
• Examine U.S. savings bond interest exclusion limits for the years 2022-2024.
• Review the Lifetime Learning Credit phase-out ranges and limits for 2025.
• Identify and understand newly enacted legislation, changes, and IRS guidance impacting individual and business income tax returns.
• Evaluate Health Savings Account limits and deductibles for 2025 and beyond.

Major Topics Covered in This IRS Tax Webinar:

• Discuss the latest individual and business income tax legislation.
• Review the individual and business provisions of the Tax Cuts & Jobs Act (TCJA), including the 20% qualified business income (QBI) deduction, changes to individual income tax rates, kiddie tax computation, AMT, personal exemptions, itemized deductions, child tax credit, and income exclusions; along with reduced corporate income tax rates, AMT repeal, changes to NOLs, business loss limitations, interest deductions, accounting method changes, and entertainment expenses.
• Walk through significant tax changes relevant to corporations, partnerships, and individuals.
• Review final regulations under §36B.
• Understand Coverdell ESA income phase-out limits for 2022-2024.
• Discuss proposed worker classification rules under the FLSA by the DOL.
• Identify American Opportunity Credit income phase-out ranges for 2025.
• Examine any additional income tax changes and highlight important IRS audit considerations.

Credits and Other information:

• Recommended CPE credit – 4.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• Attendance Requirement:  Yes
• Session Duration: 4 Hours

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners

About Our Speaker

Warren M Bergstein CPA, AEP© More than forty years of practice in tax planning, estate and trust administration and planning, personal financial planning and accounting have given Warren an extraordinarily deep understanding of personal finance. At his firm, Adelman, Katz & Mond LLP, his clients, who include primarily high net worth individuals, entrepreneurs and sole proprietors, benefit from his particular expertise in tax law, its applications and implications for individuals. Warren is an adjunct professor of accounting and taxation at Long Island University, New Jersey City University, and Rutgers.

He has spoken at the Institute of Management Accountants, both the New York and Long Island chapters of Financial Planning Association, the New York State Society of CPAs, New York University, and Lorman Educational Services. In addition, he is an accomplished author, and has regularly contributed to publications the experts rely on, like Marshall Loeb’s Money Guide, Taxation for Accountants, and The CPA Journal.