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Overview

8.0 Credits

Review explanations and planning ideas relating to the latest 2023 individual income tax developments, including the most recent guidance on new tax law provisions; prepare for "tax season" and focus on various tax law provisions and planning ideas affecting individuals.

This course has been approved by the IRS for CE credit for Enrolled Agents and PTIN holders.  This course has also been approved for CFP® credit for Certified Financial Planners.

Objectives

The seminar includes a comprehensive reference manual with each chapter containing basic rules, selected items of interest, 2023 developments, planning ideas, and listings of related IRS forms and publications. Where applicable, each chapter of the manual includes a segment devoted to the impact of recent legislation.

Major Topics

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. 

Designed For

Individuals who prepare individual income tax returns or who engage in individual income rax planning.

Prerequisite

At least one "Tax Season"

Advanced Preparation

 
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