Webinar: Casualty Losses: Disaster Relief Act of 2024
WC694 | Course | Intermediate | Scheduled
Description
Literally thousands of individual taxpayers may have increased deductions or exclusions from gross income as a result of the Disaster Relief Act of 2024! Casualty provisions of the Act are retroactive to December 19, 2019 through early 2025. Both low and high income taxpayers may benefit from the Act through exclusions of payments received as compensation for wildfire damages - retroactive to 2014! This course will review the provisions of this new act.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 1.00 | Taxes |
Designed For
CPAs and members in industry seeking an in-depth review of the Disaster Relief Act of 2024 and with clients experiencing casualty losses.
Prerequisites
Basic working knowledge of individual and business taxation.
Highlights
The major topics that will be covered in this course include:
- Federal Disaster Relief Act provisions enacted in December, 2024
- Comparison of personal use casualties with business/investment casualties
- When to claim casualty losses
- How to postpone casualty gains
- Business casualty gains and depreciation recapture
Objectives
After attending this presentation, you will be able to...
- Implement practical strategies based on a thorough understanding of the complex rules for casualty losses and casualty gains
- Identify and recall key compliance issues
- Identify and recall significant issues in the casualty loss tax form
Preparation
None
Notes
Webinar Day - HELP and Assistance Instructions
- The session will open 30 minutes prior to the start time. At that time, you will receive a reminder email bringing you to your Attendee Dashboard and a link to join the webinar.
- We recommend you log in early to ensure you are ready to go when the presentation begins.
- IF YOU ARE HAVING TROUBLE LOGGING INTO THE WEBINAR, please call the CPA Crossings Customer Service Team at (877)-370-2220 Ext. #1.
Prices
- Member (Early Bird)
- $55.00
- Non-Member (Early Bird)
- $55.00
- Member
- $55.00
- Non-Member
- $55.00