February 2025 Tax Update and Planning Strategies MicroCast - 1 Hour CPE

Learning Objectives:  By taking this course, students will explore a wide array of critical tax topics and recent updates. Key areas of focus include mandatory Roth contributions, the purpose of Sec 7216 and its Regulations, FinCEN fraud alert, new definition of “Coverage Month” for premium tax credit, IRS expanded tax pro account, estate & basis considerations, Social Security Fairness Act, life insurance tax shelters, BOI court date, selling a failed investment for a penny, treatment of refund of long- term care premiums, whether an individual is engaged In a trade or business of producing solar energy, definition of financially disabled, business sponsoring a kiddie baseball team, home office & S corporation, SIMPLE IRA as employee and Solo 401(k) as an LLC, the tax court corner, and the fraud blotter.CPE Hours: Federal Tax Law = 1 CPE Credit / Total = 1 CPE CreditAccreditation: CTEC, IRS, Enrolled Agents, NASBA-QAS CPAsField of Study: Federal Tax Law Publication Date: 2/1/2