The Kiddie Tax & Planning Opportunities for 2024-25 1.5 Credits
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Taxes are already a labyrinth, but when a child's income is thrown in, things get downright bewildering. That's where the "kiddie tax" comes into play—a sneaky little rule designed to keep families from offloading income to their lower-tax-bracket kids. Enacted in 1986, this tax ensures that certain unearned income of minors is taxed at the parents' rate. Yes, even the little ones aren't spared! Understanding this wrinkle in the tax code is a must for any family navigating financial planning.
In this course, we'll demystify the kiddie tax, exploring its effects on both earned and unearned income. From figuring out who reports what to deciphering the complex math behind it all, we've got the details covered. We'll dive into the latest rules, including a return to the pre-2018 regulations, which means that in some cases, a child's income can once again impact the parents' tax liability. Through examples and practical applications, you'll learn how to make these convoluted rules a bit more manageable—and maybe even find a few opportunities to minimize the tax sting.
Major Topics:
When the course wraps up, you'll not only feel empowered to handle kiddie tax obligations, but you'll also know a handful of savvy strategies for potential savings. For tax pros and financial planners alike, this session is packed with tips for guiding families. Join us, and let's conquer the kiddie tax together.
Click here for more IRS Approved CE tax courses.
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02182-24-S) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02182-24-S) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1767) | 1 CE | Approved |
| Taxes for Personal Financial Specialist (PFS) | 1.5 CPD | Eligible |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Taxation for Chartered Financial Consultant (ChFC) | 1.5 CE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02182-24-S) | 1 CE | Approved |
| Taxes for Retirement Income Certified Professional (RICP) | 1.5 CE | Eligible |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02182-24-S) | 1 CE | Eligible |
| Taxes for Wealth Management Certified Professional (WMCP) | 1.5 CE | Eligible |
| Taxes for Financial Services Certified Professional (FSCP) | 1.5 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02182-24-S) | 1 CE | Approved |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
| Taxes for Chartered Special Needs Consultant (ChSNC) | 1.5 CE | Eligible |
| Taxes for Chartered Advisor in Senior Living (CASL) | 1.5 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02182-24-O) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02182-24-O) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1767) | 1 CE | Approved |
| Taxes for Personal Financial Specialist (PFS) | 1.5 CPD | Eligible |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Taxation for Chartered Financial Consultant (ChFC) | 1.5 CE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02182-24-O) | 1 CE | Approved |
| Taxes for Retirement Income Certified Professional (RICP) | 1.5 CE | Eligible |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02182-24-O) | 1 CE | Eligible |
| Taxes for Wealth Management Certified Professional (WMCP) | 1.5 CE | Eligible |
| Taxes for Financial Services Certified Professional (FSCP) | 1.5 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02182-24-O) | 1 CE | Approved |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
| Taxes for Chartered Special Needs Consultant (ChSNC) | 1.5 CE | Eligible |
| Taxes for Chartered Advisor in Senior Living (CASL) | 1.5 CE | Eligible |
Credits
1.5
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
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.
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.
Need to meet your Enrolled Agent (EA) Continuing Education (CE) requirements? MYCPE ONE has you covered. Our Online EA CE courses make it easy to earn credits while expanding your expertise in tax regulations and practices. Stay ahead with the latest updates and in-depth insights designed to keep you at the top of your field. With flexible scheduling and a user-friendly platform, MYCPE ONE offers a convenient, interactive learning experience. Start advancing your career today!
Dr. Curatola is the Joseph F. Ford Professor of Accounting at Drexel University in Philadelphia. He is the Tax Column Editor for Strategic Finance since 1992. He has served as the editor of the Journal of Legal Tax Research and currently serves on the editorial review board of several journals, and has held a variety of leadership positions, including current national service with the Institute of Management Accountants. He has published over 250 articles in journals including Journal of Financial Services Professionals, Journal of the American Taxation Association, Journal of Forensic & Investigative Accounting, Oil, Gas, & Energy Quarterly, and Tax Notes to name a few. Dr. Curatola was a co-editor on IRA Answer Book by Wolters Kluwer and author of the EA Review course for Surgent Publishers. Dr. Curatola externally funded research findings have appeared in media such as Forbes Magazine, The Washington Post, The Wall Street Journal, The New York Times, and other media outlets.
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AH
I never knew that the Kiddie Tax was so complicated. Definitely worth watching if interested in this subject.
JA
The lecturer was great. he explained concepts with examples and he went over the poll questions too
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