2023 Tax Update and Review Virtual Conference Agenda


The lessons cover virtually all chapters of the Big Book of Taxes, focusing on the most important issues when preparing 2023 returns and amending prior year returns. The following is an overview of the subject matter to be covered.

2023 Tax Update & Review Webinar Lesson 1 
Federal Taxation - 2 Hours CPE

This lesson includes: low income year strategies, hazards of filing married separate, issues relates to divorce, issues related to the death of a taxpayer, military issues plus the new domicile rules and military spouse pension benefits, foreign related reporting issues including SS & Medicare requirements, foreign workers, FBAR, Form 8938, foreign rentals, foreign pensions, foreign gifts,1099-K reporting, cryptocurrency, new mandatory e-file requirements, general welfare exclusions, Social Security income of non-resident aliens, preserving capital loss carryovers, planning for zero tax on LTCG, lease buy-outs, non-statutory/incentive/restricted stock options, rental converted to a personal residence and non-qualified use, inherited homes, exception to the use test, interest tracing, and QOFs.

2023 Tax Update & Review Webinar Lesson 2
Federal Taxation - 2 Hours CPE 

This lesson includes: reporting cash transactions, expenses of a previously failed business, spouses and partnership rules, employing a child, charity as business expense, self-employed health insurance, lavish or extravagant, are business expenses optional, bonus phaseout, Sec 179 and residential rentals, Form 8594 allocation of assets, short term rentals, converting a home to a rental, renting to a relative, inherited rental, self-rental, per building expense safe harbor, partial disposition election, new Corporate Transparency Act (CTA), CTA and LLCs, beneficial owner FinCEN registration requirements, CTA failure to register penalties, new 529 plan to Roth rollovers, 529 distribution a support, modified ABLE age, nursing service as a medical deduction, determining average balance for home mortgage interest limitations, capitalizing property taxes, charitable carryover when taking the standard deduction, leave based charitable donations, new limits on charitable conservation easements, disaster loss issues including; use of retirement funds, forced relocations, primary resident destroyed, personal belongings safe harbor, exceptions to SE tax, penalty reasonable cause, estimated tax safe harbors, household employee, and gifting issues. 

2023 Tax Update & Review Webinar Lesson 3 
Federal Taxation - 2 Hours CPE

This is lesson #1 of two lessons dealing with preparing 1041 (fiduciary tax returns).

2023 Tax Update & Review Webinar Lesson 4 
Federal Taxation - 2 Hours CPE

This is lesson #2 of two lessons dealing with preparing 1041 (fiduciary tax returns).

2023 Tax Update & Review Webinar Lesson 5
Federal Taxation - 2 Hours CPE 

This lesson includes: taxability of pensions, QDROs, disability retirement, new rules related to public safety officer health insurance, longevity annuity changes, net unrealized appreciation, 60-day rollover waivers, self-certifying late rollovers, traditional IRA changes, excess contribution penalty, new qualified plan emergency expenses withdrawals, qualified plan disaster withdrawals, new rules related to IRA prohibited transactions, unrelated business income, Roth IRA, Roth excess contribution penalty, Roth conversions, Roth 5-year aging, Roth emergency withdrawals, Roth order of withdrawals, qualified Roth contribution plans, form 5500-EZ, new nanny SEPs, new increased catch up limits age 60through 63, 401(k) excess contributions, new employee financial incentives to participate in a 401(k) plan, new long-term part-tine employee participation in 401(k) plans, starter 401(k) plans, new mandatory 401(k) 403(b) enrollment, new emergency savings accounts, new 401(k) 403(b) hardship withdrawal conformity, new 401(k) 403(b) hardship self-certification, flexible spending accounts.

2023 Tax Update & Review Webinar Lesson 6 
Federal Taxation - 2 Hours CPE

This lesson includes: RMDs, RMD year of death, new excess accumulation penalty, new accumulation penalty statute of limitations, inherited IRA issues, spousal beneficiaries, special designated beneficiaries including children, disabled or chronically ill, ten year rule, hypothetical RMDs, RMD aggregation for rollovers, required start dates, new QCD to split interest entity, QCD tax trap, special needs trusts, still working rule, new qualified plan Roth option, SIMPLE plan changes under SECURE 2.0 Act, several new early withdrawal penalty exceptions under the SECURE 2.0 Act including distributions related to corrective measures, birth/adoption, terminal illness, domestic abuse, long-term care insurance, emergencies, public safety employees and first responders disability payments, plus health savings accounts (HSA)and an HSAs as a retirement vehicle,

2023 Tax Update & Review Webinar Lesson 7 
Federal Tax Update - 2 Hours CPE

This lesson includes: general business credit, child & dependent care credit, disabled or full-time student spouse, household employee, dependent care assistance, family day care providers, split Schedule C strategy, child tax credit including: identification requirements, refundable credit, EITC issues including, disabled, custodial parent, two with the same qualifying child, separated spouses, Medicaid Wavers, special earned income rules, recertifications, and preparer due diligence and penalties, claim of right doctrine, saver’s credit, saver’s credit testing period, saver’s credit post 2026 enhancements, adoption credit, pension start-up credit, new 50 employee or less enhancements, automatic enrollment credit and mandatory enrollment.

2023 Tax Update & Review Webinar Lesson 8 
Federal Tax Update - 2 Hours CPE

This lesson includes: Home solar issued including extensions, new battery guidance, installation costs, roofing, future add-ons, leased installations, who gets the credit, basis adjustment, builder pass-through, and residential rentals, new energy efficient home modification credit issues including; major expansion of the credit, elimination of the lifetime limits and home energy audits, new extension and enhanced contractor credit for building energy efficient homes, work opportunity credit, new alternative refueling property credit, clean vehicle credit issues including: the transition rule, new vehicles including assembly requirements, MSRP limits, buyer AGI limits, used clean vehicle credit including vehicle and buyer qualifications, MSRP limits, buyer AGI limits and dealer certification, and post 2023 credit transfers to the dealer as down payment, commercial vehicle credit, research credit, paid medical & family leave credit, foreign tax credit options, an disabled access credit.