* Updated 2024 *

Overview

Each year various limits affecting income tax preparation and planning change. Some changes commonly occur each year as a result of inflation indexing, while others occur because of new legislation or the sunsetting of existing law.

This course will examine the tax changes affecting 2024 as a result of passage of the SECURE Act 2.0 and the inflation-changed limits effective for 2024 that are more significant from the perspective of an income tax preparer. Some context will be supplied, as appropriate, to assist readers in understanding the changes.

CPE Acceptance

 

CPE Course For:

CPAs in most states (chart)
Other Professionals (chart)
 AFSP
 EA
 Tax Preparer

Not sure?  Contact us!

Online Course Materials

Fully online PDF materials included in course.

Login to your course to read online / print / save to local drive

Materials include:

  • Clickable table of contents
  • Learning objectives--each section
  • Review questions--each section
  • Answers to review questions + explanations
  • Glossary of terms used
  • Worksheets, forms and examples
  • Index with page numbers

* Fully searchable *

Details

Fun CPE Course #: PWX1024
Materials: Online materials
Format: Interactive self-study
Subject: Federal Tax
Exam questions:  Final-15 multiple choice
Document length:  70 pages
Passing score: 70% | Unlimited retakes
Prerequisites: None
Advance prep: None
Course level: Overview
Last reviewed/updated: 01/01/2024
Expiration: One year from enrollment

Learning objectives

Upon completion of this course, you should be able to:

Upon completion of this course, you should be able to:

  • List the 2023 changes in various amounts including the –
    • Standard mileage rates,
    • Standard deduction,
    • AMT exemption amount,
    • Limits related to income from U.S. Savings Bonds for taxpayers paying higher education expenses, and
    • Deductions for qualified long-term care insurance premiums;
  • Identify the 2023 tax credit changes affecting the –
    • Saver’s credit,
    • Additional Child Tax Credit,
    • Earned income credit, and
    • Adoption credit;
  • Recognize the 2023 changes affecting –
    • Health Savings Account (HSA) and Archer Medical Savings Accounts (MSA) requirements and contribution limits,
    • Roth IRA eligibility, and
    • Traditional IRA contribution deductibility for active participants in employer-sponsored qualified plans;
  • List the changes effective for 2023 with respect to the –
    • Small employer premium tax credit, and
    • Applicable large employer mandate; and
  • Describe the principal Inflation Reduction Act (IRA) provisions affecting taxpayers in 2023.