The Corporate/Business Income Tax Workshop will focus on tax developments that affect 2023 income tax return preparation and 2023 income tax planning for businesses.
Review of Corporate and Other Business Income Taxation Including:
Segments Covering: S Corporations; Partnerships; Constructive Dividend Issues; the 20% QBI Deduction; Purchase And Sale of Businesses; §1031 Exchanges; Travel, Meal, and Entertainment Deductions; Fringe Benefits; §179 and 168(k) Depreciation Deductions; Accounting Methods Including Final Regulations Explaining Treatment Of Inventories And Use Of The Cash Method For Taxpayers With Average Gross Receipts Of $29 Million Or Less; Rev Proc Providing Rules For Automatic Accounting Method Changes; When Rental Income is Subject To S/E tax; Election To Pay State Income Taxes At The Entity Level By S Corps and Partnerships; Business Interest Expense Limitation; Partnership And S Corp Developments Including Developments Relating To Filing Forms K-2 and K-3; and Other Business Topics.
Significant 2023 Developments Including:Any New 2023 Legislation; SECURE Act 2.0 Provisions Effective For 2023; Commercial Vehicles Qualifying For New Electric Vehicle Credits; Inflation Reduction Act Provisions Affecting Businesses and Effective For 2023; and Many Others.
Review of Significant Tax Provisions and Changes First Effective in 2023.
In the Individual Income Tax Workshop, we review current year developments, recurring problems, and planning ideas.
The Materials Include A Review of Individual Income Taxation Including:
The Child Tax Credit, Dependent Care Credit, Premium Tax Credit and Earned Income Credit; Tax Free Forgiveness Of Student Loans; Charitable Contribution Deductions; The Kiddie Tax; Taxation of Damage Awards; Tax Benefits For Education Including The American Opportunity Tax Credit; Capital Gains And Losses; §1031 Exchanges; Qualified Opportunity Funds; Gain Exclusion Upon Sale Of Principal Residence; Qualified Plans and Individual Retirement Accounts (including changes made by SECURE Act 2.0); Interest Deductions, Including The Home Mortgage Interest Deduction; Medical Expenses; Deduction For State And Local Taxes; Home Office Deductions; Hobby Losses; and The Passive Activity Limitations.
Significant 2023 Developments Including: Any New 2023 Legislation; New 2023 Electric Vehicle Credits and Credits for Energy Efficient Improvements to Residences and Rental property; Regulations, Court Cases, Rulings And Other Non-Legislative Developments Such As the New Regulations Modifying The Required Minimum Distribution (RMD) Rules For 2023, and Much More.
Planning Ideas, Including Planning With New Tax Legislation.
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In the Federal Tax Update Workshop, we review current year developments and planning ideas affecting individual, corporate, and business income taxation.
The major topics covered in this seminar include:
A review of the latest new law provisions affecting 2023 returns including provisions of the SECURE Act 2.0 and developments relating to the Inflation Reduction Act
A review of any late-breaking 2023 tax legislation
New regulations modifying the required minimum distribution (RMD) rules for 2023
An analysis of the new 2023 energy credits for energy efficient improvements to residences and rental property
Electric vehicles qualifying for EV credits
IRS’s new Employee Retention Credit Training Guide
1099-K reporting
Digital asset reporting rules
New tax cases, rulings, and regulations expected to have the most significant impact on individuals and businesses
To get started, contact Jennifer Miller, 443-858-5699, jennifer.miller@aicpa-cima.com.
