2024 Mid-year Update

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Description

2024 Mid-year Update
IRS Program #: X9QQU-U-01135-24-O
CTEC #: 6257-CE-0296
CE: 2 IRS & 2 CTEC credits
Speaker: Allan J. “A.J.” Reynolds, EA & Michael R. Miranda CPA, QKA, AEP

Now that tax season is behind us, our profession continues to be challenged. Join us for a fast-paced, must-attend update and overview where you will receive the latest information and guidance that has transpired over the past several months affecting your practice encompassing yourbusiness and individual clients. 

Learning Objectives

Summarize any late breaking updates, tax related legislation, or guidance
Corporate Transparency Act – Examination of current Treasury guidance and the impact of a recent court case
ERC – What professionals need to know, now that this program is winding down
Current state of the PTET issues
Analysis of Virtual Currency issues, updates and recognize reporting obligations
Examine the continue evolution of the Energy Creditsand the Clean Vehicle Credits and current year planning associated with these credits
Business assets, including bonus depreciation, cost capitalization, repair regulations, IRC §179, change in accounting methods, and other planning opportunities
SECURE Act 1.0 – IRS delays IRA RMD Rules (Notice 2024-35) again – Will we “really” see final regulations this year and what is the impact of the delay?
SECURE Act 1.0 – Remember clients may adopt a retirement plan after the end of a tax year
SECURE Act 2.0 – IRS Notice 2024-2 – Highlights of key provisions that will impact your client (e.g., Conversion of a SIMPLE IRA to a safe harbor §401(k) Plan)
SECURE Act 2.0 – Calendar year 2024 through 2026 new law provisions
Estate, Gift and Trust – Planning for the possible reduction in Federal Estate exemption in 2026
Estate, Gift and Trust – Portability or DSUE and post-mortem income tax planning opportunities
Cybersecurity and security plan for your tax practice

Contributors

Allan (AJ) Reynolds, EA

A.J. has immense experience in various areas of taxation, which encompasses over 30 years. His practice centers on individual, business, and estate tax preparation. In addition, A.J. specializes in IRS audits, appeals, collections and other tax representations. He speaks for multiple organizations and brings his everyday “in the trenches” experience to assist attendees with real issues affecting tax professionals. A.J. started his tax career with a national CPA firm in San Diego, CA after proudly serving five years in the U.S. Navy.
Michael R. Miranda CPA, QKA, NQPC, AEP

Bringing 48 years of experience in tax consulting, estate planning, and employee benefits to his work as an independent consultant, Michael is the owner of MIRANDA CPA & Consulting LLC in Sioux Falls, SD. His tax practice focuses on corporate, individual, estate and gift, and tax accounting. He also provides employee benefit planning and consultation services for qualified, non-qualified, and health and welfare benefit plans. As part of his IRS representation practice, Michael has worked with the National Office to obtain private letter rulings for clients, in addition to numerous EPCRS submissions and audits. As a nationally recognized tax speaker, he maintains an active schedule presenting webinars and seminars on tax law, employee benefit planning, and estate planning.

Michael spent much of his career as a CPA with a regional CPA firm located in Northwestern Iowa, retiring after 27 years as a senior manager-shareholder with this firm. His career started as a Tax Specialist with a Big 8 accounting firm in their South Bend and Minneapolis offices, providing tax and estate planning for individuals and small to medium-sized businesses. He has earned professional designations including CPA, QKA, NQPC and AEP. Michael maintains professional memberships with the American Institute of Certified Public Accountants (AICPA), the American Society of Pension and Professional Actuaries (ASPPA), National Association of Enrolled Agents (NAEA), and the National Association of Estate Planning Councils (NAEPC).

Michael resides in Sioux Falls, SD with his wife Jeanette. Outside of his professional practice, Michael is a cellist with the Sioux City Symphony Orchestra. When he is not working, his time is spent with various activities, including traveling with his wife and playing golf.

Thank you

Description

Contributors

Allan (AJ) Reynolds, EA

Michael R. Miranda CPA, QKA, NQPC, AEP