Surgent's 2024 Tax Changes and Year-end Planning Opportunities

This program covers tax developments in 2024 that are relevant to accounting and finance professionals and their clients. The program covers certain legislative changes taking effect in 2024 as well as pronouncements by the IRS impacting existing legislation. In light of the sunsetting of certain provisions of the Tax Cuts and Jobs Act in 2026, the program discusses planning opportunities that clients can use to their advantage in late 2024 and 2025. The program will discuss these topics with the backdrop of the results of the presidential and congressional elections.

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

Any accounting or finance professional advising clients who needs to know about tax changes and potential tax strategies available in late 2024 and 2025, along with IRS pronouncements relevant to 2024 and later

• Advise clients regarding tax changes and tax strategies available in late 2024 and 2025 in light of the potential sunsetting of certain provisions of the Tax Cuts and Jobs Act and the results of the 2024 elections

• Expiring provisions of the Tax Cuts and Jobs Act
• U.S. Supreme Court overturns Chevron and Varian Medical Systems
• Status of the Corporate Transparency Act (CTA) reporting
• New fiduciary rule for financial professionals, including CPAs
• New Department of Labor overtime rules
• Expansion of the IRS’ direct file program
• Banning of most non-compete agreements
• IRS Notice 2024-35: Certain Required Minimum Distributions for 2024
• IRS finalizes RMD regulations
• Medicare changes in 2024, including IRMAA
• Section 179D in 2024
• Proposed stock buyback regulations
• Health savings account changes for 2024
• Transfer and direct pay of energy credits
• New Department of Labor definition of an “employee”
• Crypto update and cost basis reporting
• Section 72(t) changes: Notice 2024-55
• Basis-shifting transactions: Notice 2024-54
• IRS settlement offer letters to taxpayers who participated in syndicated conservation easement transactions
• Qualified charitable distributions update
• Status of IRS audits of Employee Retention Tax Credit claims
• Changes to commissions of real estate professionals
• IRS Form 1099-DA, Digital Asset Proceeds from Broker Transactions
• IRS Form 7217: Partner’s Report of Property Distributed by a Partnership
• Excess 529 funds contributed to a Roth IRA

None