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Federal Tax Update – Individual & Business Current Developments 8 Credits

Federal Tax Update – Individual & Business Current Developments 8 Credits

Updated till August 2024

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  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Answer the polling questions
  • Get your certificate

Learning Objective

  • Discuss the significant Federal income tax laws impacting individuals and various business entities such as C and S corporations, partnerships, LLCs, and LLPs.
  • Examine U.S. savings bond interest exclusion limits for 2022-2024.
  • Discuss Lifetime Learning Credit phase-out ranges and limits for 2025.
  • Identify and comprehend newly enacted legislation, changes, and IRS guidance affecting individual and business income tax returns.
  • Evaluate Health Savings Account limits and deductibles for 2025 and beyond.

Course Overview

With the increasing complexity and ever-changing nature of tax laws and issues, today’s accountant needs a one-day fast-paced update course focusing on the hottest Federal income tax topics affecting individuals, businesses, and their owners with an emphasis on newly enacted income tax legislation. 

This fast-paced CPE session is a comprehensive review of newly enacted income tax legislation, issuance of income tax regulations, court cases, IRS notices, revenue procedures, and private letter rulings affecting individuals and businesses.  Each participant will receive a comprehensive manual with the hottest tax topics, including Pat Garverick’s Quick Reference Chart. 

Major topics included in this IRS Tax Webinar

  • Discuss the most recent individual and business income tax legislation passed to date
  • Review the individual and business income tax provisions of the Tax Cuts & Jobs Act (TCJA), including but not limited to the 20% qualified business income (QBI) deduction; changes to the individual income tax rates, kiddie tax computation, AMT, personal Exemptions, itemized deductions, child tax credit, and income exclusions;  lower corporate income tax rates and AMT repeal, changes to NOLs, business loss limitations, interest deduction, accounting method changes, fringe benefits and entertainment expenses
  • Walkthrough significant tax changes to corporations, partnerships, and/or individuals
  • Final regulations under §36B.
  • Understand Coverdell ESA income phase-out limits for 2022-2024.
  • Proposed Worker Classification Rules Under the FLSA by DOL
  • Identify American Opportunity Credit income phase-out ranges for 2025.
  • Review any other income tax changes and discuss other important IRS audit areas

J. Patrick Garverick is one of the country's most admired and best-reviewed Tax Speakers, and we offer the classes at a much-discounted price. His courses have been best-reviewed by audiences for: 

  • Quality of Content
  • Relevance and Practical Case Studies
  • Best Teaching Approach
  • Best Course Material

Awards and Accolades 

  • Award for Instructor Excellence for California Education Foundation
  • Award for Outstanding Course Materials for California Education Foundation.
  • Rated top tax instructor in nearly every location he has presented 
  • One of the few instructors to have received perfect scores (multiple times) from attendees for presentation skills and knowledge. 
Free E-Book Worth $200
Get a copyright-protected E-Book related to a course worth $200 for absolutely free if you register now. Limited Period offer!

Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE Credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent. 

  • 8 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 8 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 8 CE Credit of Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-02114-24-S)
  • 8 CE Credit of Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-02114-24-S)
  • 8 CE Credit of Tax Planning for Certified Financial Planner (CFP-US) (Approval No. 322514)

    Valid upto : Dec 31, 2024

  • 8 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1702)
  • 8 CPD Credit of Taxes for Personal Financial Specialist (PFS)
  • 8 CE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 8 CE Credit of Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-02114-24-S)
  • 8 CE Credit of Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-02114-24-S)
  • 8 CE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 8 CE Credit of Federal Tax Law Update for LTC (Approval No. GEHNZ-U-02114-24-S)
  • 8 CE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 8 CE Credit of Taxes for Wealth Management Certified Professional (WMCP)
  • 8 CE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 8 CPE Credit of Taxes for Iowa Licensed Public Accountant (IA-LPA)
  • 8 CE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 8 CPE Credit of Taxes for Maine Licensed Public Accountant (ME-LPA)
  • 8 CPE Credit of Taxes for Delaware Licensed Public Accountant (DE-LPA)

  • 8 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 8 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 8 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-U-02114-24-O)
  • 8 CE Credit of Taxes for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-02114-24-O)
  • 8 CE Credit of Taxes for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1702)
  • 8 CPD Credit of Taxes for Personal Financial Specialist (PFS)
  • 8 CE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 8 CE Credit of Taxes for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-02114-24-O)
  • 8 CE Credit of Taxes for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-02114-24-O)
  • 8 CE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 8 CE Credit of Taxes for LTC (Approval No. GEHNZ-U-02114-24-O)
  • 8 CE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 8 CE Credit of Taxes for Wealth Management Certified Professional (WMCP)
  • 8 CE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 8 CPE Credit of Taxes for Iowa Licensed Public Accountant (IA-LPA)
  • 8 CE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 8 CPE Credit of Taxes for Maine Licensed Public Accountant (ME-LPA)
  • 8 CPE Credit of Taxes for Delaware Licensed Public Accountant (DE-LPA)

Additional Information

Credits

8

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

J. Patrick | Accounting and Tax Expert | Live CE/CPE Webinar
J.Patrick GarverickCPA, MT, CFP®

Owner, The Garvs, LLC (dba The Tax U)

  • 4.6
  • rating
  • rating
  • rating
  • rating
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Pat Garverick is a Certified Public Accountant who currently lives in the Phoenix, Arizona area. He began his career in public accounting in 1988 after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. After receiving his Master of Taxation (MT) degree from Arizona State University in 1992, Mr. Garverick began operating his own tax and financial planning business. He also started writing, reviewing, and teaching tax and financial planning continuing professional education courses around the country.

In addition to being a CPA, Pat is also a Certified Financial Planner (CFP®). This role serves to enhance the knowledge he brings as he writes and presents continuing education material. Mr. Garverick is a member of the Arizona Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Pat has presented continuing education sessions throughout the country and has won awards for both his skills as an instructor as well as for the content he has created. His knowledge, expertise, and high energy have made him one of the profession’s most highly rated speakers. He is in a very small group of instructors that are both extremely knowledgeable and interesting.

During his time in college, Pat earned a letter as a member of the Ohio State Basketball squad. He remains a staunch supporter of the sports programs at his alma mater.

Awards & accolades

  • Multi-time winner of the California Education Foundation’s 1) Award for Instructor Excellence and 2) Award for Outstanding Course materials
  • Rated top tax instructor in nearly every location he has presented 
  • One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge. 

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

4.6

Excellent

Very Good

Average

Poor

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SP

Shelly Pike, CPA (US)

Patrick was an excellent presenter. It was nice how he explained how the tax code has changed over the past few years. Also I appreciated his explanation and examples of various tax calculations. I will be looking for other webinars with Patrick. Thank you!!

AS

Audrey Spence, CPA (US)

The Webinar was very appropriate for my profession. The instructor was very knowledgeable and did a wonderful job presenting, explaining, and providing a lot of material. He also providing many resources as supplemental materials. Thank you!!

Inclusions
  • Multiple Credits
    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

  • Credit Tracker
    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault
    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders
    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access
    Mobile App Access

    The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support
    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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