Surgent's Top Individual Tax Planning Strategies

Overview

The Inflation Reduction Act (IRA) and SECURE Act 2.0 both contained tax law changes that impact many individuals in 2024 and in later years. This program covers many of these changes as well as other tax topics that continue to impact individual income taxpayers.

Highlights

• New Clean Vehicles (CV) and the Clean Vehicle Credit
• What the CV seller must provide to the buyer
• Credit for previously owned CVs
• Energy efficient home improvement credit
• Increase in age for required beginning date for RMDs
• Reduction in excise tax on RMD failures
• Indexing IRA catch-up limit
• Higher catch-up limit to apply at age 60, 61, 62 and 63
• Withdrawals for certain emergency expenses
• Qualifying longevity annuity contracts (QLACs)
• One-time election for qualified charitable distribution (QCD) to split-interest entity; increase in QCD limitation

Prerequisites

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

Designed For

Tax practitioners who anticipate advising individual clients regarding tax planning opportunities for 2024 and later

Objectives

• Advise individual clients on tax changes and opportunities in 2024 and after

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by Surgent. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.