Individual and Business Federal Tax Update with Blaise Bender, J.D., CPA

100 Washington Avenue,Waco TX 76701

10 January, 2023

Description

Individual Tax Update – January 10, 2023 This seminar will cover the recently passed Inflation Reduction Act and Infrastructure Bill. The seminar includes updated information regarding IRS Revenue Rulings, Revenue Procedures, Tax Court Decisions as well as New and Proposed Regulations. Pending legislation before Congress will be discussed including the likely passage of the Secure Act 2.0. The session will review changes to the tax forms impacting the upcoming tax season but also assist CPAs in tax planning for their clients. Among the areas covered are the following: Tax Filing Status and Tax RatesItems of Gross Income and Revised Exclusions from Gross IncomeUpdates to Capital Gains and ReportingUpdates on Passive Activity Loss Issues and At-Risk RulesPassthrough Basis ReportingUpdates on Adjustments to Gross IncomeUpdate on Retirement PlansRevised Standard Deduction and Itemized Deduction ProvisionsRevised Qualified Business Income DeductionUpdates to Individual Tax Credits Including Child Tax Credit, Earned Income Credit, and Revised and New Energy CreditsUpdates to Trusts, Estates, and GiftingProposed Legislation that could impact 2023 and 2024Business Tax Update – January 11, 2023 This seminar will cover Legislative, Judicial, and IRS Guidance of the past year as it pertains to Sole Proprietorships, C Corporations, S Corporations, Partnerships, and LLCs. The Seminar shall also include business tax provisions under the Inflation Reduction and Infrastructure Acts passed by the Biden Administration. Recently issued IRS Regulations, Proposed Regulations, Recent Revenue Rulings, Revenue Procedures, and Tax Court Decisions, along with advice memorandums will also be discussed. The Seminar is designed to assist CPAs in business tax planning matters. The session will also include a discussion of proposed IRS administrative changes designed to create greater efficiency and response to our clients. The seminar will conclude with the Texas Tax Update. Among the topics discussed include the following: Sole Proprietorship Tax UpdateContinued Aggressive Hobby Loss Examinations Involving Texas Farm and Ranch BusinessesRecent Developments on General Business DeductionsRevised Operating Loss Provisions and LimitationsC Corporation Update including New Minimum TaxBusiness Reporting Requirements ExpansionBusiness Tax Credit Update including New Energy CreditsS Corporation Update including Basis Issues and AAA and expended IRS examinationPartnership and LLC Update including Recourse and Nonrecourse Debt AllocationsEmployment Tax UpdateNonprofit Tax UpdateIRS Procedural Matters: Current and ProposedTexas Tax UpdateLEARNING OBJECTIVES: Understand changes in tax preparation for the upcoming tax season as they pertain to clients.Understand planning opportunities associated with the upcoming tax filing season.Understand preparer issues associated with the upcoming tax filing season.HANDOUTS: E-Handouts will be sent via email at least one day prior to the course. We will send them out as soon as they are available. DESIGNED FOR: CPAs and non-licensed professionals who plan and prepare tax returns. PREREQUISITES: There are no prerequisites. ADVANCED PREPARATION: No advanced preparation is necessary. DELIVERY METHOD: In-person FIELD OF STUDY: Taxation (Technical) Our Annual Election of Chapter officers will be at the conclusion of lunch on Tuesday, January 10, 2023. Our new fiscal year begins June 1, 2023. During the seminar breaks, current officers and volunteers will be available to give you more information about the Young Professionals, CPE, Membership, Business and Industry Professionals, and PAC Committees. Make it your New Year's Resolution to become involved! Invite your colleagues and friends! We can invoice your office or you individually, and you can pay by check. If you pay by check, you will not need an Eventbrite ticket. Please make your reservations by Thursday, December 15, 2022, at 12 pm by emailing [email protected] or [email protected]. If we have not received your registration and check by Tuesday, January 3, please email and/or call our office. We will continue to take in-person registrations through the start of each day’s seminar. The Waco Convention Center is located at 100 Washington Ave, Waco, Texas 76701. We are in the Brazos Ballroom South. There is parking available in several lots around the convention center. For questions, please contact Rebekah North at 254-732-3026 office, 254-715-8178 cell or [email protected] or [email protected].