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Top Business Tax Planning Strategies (BTPS)

Monday, November 18, 2024
10:00 AM - 12:00 PM (Eastern)

Mike Tucker, Ph.D., LL.M., J.D., CPA

Edward Renn, Esq.

  • Format Webinar
  • Credits 2.00
  • Level Basic
  • Field of Study Taxes (2)

$99.00


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.

Major Topics:

  • 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

Learning Objectives

  • Advise business owner clients on adopting tax planning strategies that would reduce their tax liability for 2024

Who should take this course:

Tax practitioners who anticipate advising business clients in 2024 regarding strategies to reduce or eliminate federal income taxation

A basic understanding of the tax rules relating to individual income tax

None

Yes

No

No

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