2024 Federal Tax Law Updates

(3 Credit Hours of Federal Tax Law)

Instant Access
Special Price $59.97 Regular Price $119.97

There are over 22 new tax laws in effect, and you need to be prepared to navigate them like a pro. Dr. Bart Basi, a seasoned tax expert, takes you on a deep dive into every critical change. 

Here's what you'll conquer in this comprehensive course:

  • Master the 2024 Tax Brackets: Master the updated brackets for single filers, married couples, and head of households, along with the all-important standard deduction adjustments.
  • Capitalize on the Latest Tax Credits: Demystify the earned income tax credit, retirement plan contribution limits, and the retirement savings contribution credit. Plus, learn about crucial deadlines you need to know.
  • Dominate the Electric Vehicle Credit Game: Understand income caps, vehicle requirements, and used vehicle credit nuances. Dr. Bart also delves into business vehicle credits.
  • Boost Your Depreciation Expertise: Unravel the evolving bonus depreciation through 2027 and master Section 179 changes.
  • Unlock the Power of the Premium Tax Credit: Understand who qualifies, how Form 8962 works, and how to leverage this valuable credit for your clients.
  • Navigate Special Rules with Confidence: Gain insights into beneficial ownership, worker classification, and the Form 1099-K overhaul
  • Prepare for Estate and Gift Tax Returns: Learn about historical exclusion amounts, scenarios where returns aren't needed, and future changes.
  • Bankruptcy and the IRS Demystified: Learn about the three types of bankruptcy and tax lien implications.

Learning Objectives:

  • Determine the correct 2024 tax bracket and standard deduction for individual clients, including single filers, married couples, and head of households.
  • Identify eligible clients for key tax credits, including the earned income tax credit, retirement savings contribution credit, and electric vehicle credit, and apply the relevant deadlines and limits.
  • Apply updated depreciation rules, including bonus depreciation through 2027 and Section 179 changes, to maximize client deductions.
  • Accurately navigate the Premium Tax Credit, including determining eligibility, completing Form 8962, and leveraging the credit for clients.
  • Confidently advise clients on special tax rules, including beneficial ownership, worker classification, and Form 1099-K reporting, to ensure compliance and minimize potential penalties.

Dr. Bart brings each concept to life with real-world examples and personal anecdotes, making even the most intricate tax changes relatable and engaging. He even explores how laws might evolve as the IRS implements new technology, giving you a glimpse into the future of tax preparation.