Virtual Seminar Topics

2022 Fall Topical Income Tax Update (see details below):

  1. 2022 Tax Legislation – Overview of New Tax Law
  2. Secure Act Update
  3. Small Business Issues
  4. Section 179
  5. Capitalization Repair Rules
  6. Ethics & Practice Before the IRS
  7. Cases, Rulings, and other IRS Developments
  8. Virtual Currency
  9. Ask the Expert

2022 Year-end Income Tax Update (see details below):

  1. 2022 Federal Tax Law Updates – Corporate Transparency Act
  2. Retirement Plans
  3. Essential State Income Tax Issues: Passthrough Entity Tax
  4. 1099s: The Deeper Dive
  5. Ethics
  6. Forms K2, K3, 7203, Shareholder/Partner Basis Issues
  7. Tax Planning for the Moderate-Income Client
  8. Preparing for the 2023 Tax Season / Ask the Expert

2022 Fall Topical Income Tax Update Details

Overview of New Tax Law Updates: Let us provide you with an overview of IRS rulings and pronouncements as well as any new law enacted in 2022. IRS has made some procedural changes; we have expiring provisions to make you aware of and other updates that will impact the 2023 filing season. In addition, we will cover some key issues where guidance has been issued concerning prior enacted law and other updates as released.

Secure Act Update: Secure Act 2.0 is still making its way through Congress as we prepare for the Fall 2022 classes. Retirement planning is important for all ages, so an overview of the original Secure Act as well as Secure Act 2.0 will be presented.

Small Business Issues: So many issues, so little time. As we deal with our clients who have small businesses, we face many issues such as what is deductible and non-deductible, automobile rules, Section 179, accountable plans, available fringe benefits and many others. It is a good time to review tax issues which could benefit small business. Our 110 minutes will encompass an overview of key small business issues.

Ethics and Practice Before the IRS: Join us as we define, “Practice Before the IRS” and issues surrounding representing your client and the Power of Attorney. Also included will be a discussion on our responsibilities as a tax professional. As always, we will update you on select issues with national organizations that represent tax professionals.

Cases, Rulings, and other IRS Developments: Recent cases law which may impact your clients in addition to important rulings will be discussed. It is also a suitable time to review key IRS procedures and processes. Remember case law can have a significant impact in tax law changes in the future. Keeping up with case law and procedures are an important part of staying up-to-date and addressing your client questions and concerns.

Virtual Currency: Get familiar with the ideas behind cryptocurrency, and the language you need in order to speak intelligently to your clients. Understand the differences between digital, virtual, and crypto currencies. Learn about the types of currencies available as well as the terminology used in this media and the tax implications.

Ask the Expert: Let us enhance the live interaction and give you the opportunity to ask questions of our panel of experts. Whether you want to revisit a complicated example, need clarity on a tax form, other another concept, we can dive deeper and provide additional guidance.

2022 Year-end Income Tax Update Details

Federal Tax Law Updates:  Corp Transparency Act: Let us provide you with an overview of new and proposed legislation, significant cases, IRS rulings and pronouncements. We’ll take a deep dive into the Corporate Transparency Act (CTA) and how this impacts your clients.

Retirement Plans: Retirement planning should be a part of everyone’s life. Our clients often rely on tax professionals to guide them through the maze of getting ready for retirement as well as planning for retirement. “What Tax Preparers Need to Know” is where we will center our discussion.

Essential State Income Tax Issues: Passthrough Entity Tax: A matrix of which states, tax – retirement income and recent changes that could impact 2023. As more states move in the direction of not taxing Retirement Income it is important to be aware of how this will impact your client.

1099s: The Deeper Dive: Form 1099 is used for a variety of purposes. Sometimes we scratch our heads concerning those boxes on the many 1099 forms we receive. Join us as we dive into some of the common 1099’s and where they should be placed on the tax return as well as their purpose.

Ethics: As always Ethics will be the favorite class of the day. We hope to provide an overview of the changes in Circular 230, which is going through a review process as we speak. But we cannot control the IRS approval process, so if the new Circular 230 is not available we guarantee a class to assist in “your ethical gaps.” After all, any ethics class should make you aware of your ethical responsibilities.

Forms K2, K3, 7203, Shareholder/Partner Basis Issues: Are you up to date on the K-2, K-3, and Form 7203? Many of us were frustrated during the 2022 tax season for lack of clear instructions and the purpose of the new forms. Get a clearer understanding of the forms and when we need to file to comply with new requirements.

Tax Planning for the Moderate-Income Client: “By failing to prepare, you are preparing to fail.” – Benjamin Franklin. To some, taxes are a battle that is faced all year long, just not on April 15th. Join us as we delve into key planning opportunities that are rarely planned for. Taxes and planning go together, and the moderate-income client can find savings and benefits in planning for tax issues.

Preparing for the 2023 Tax Season / Ask the Expert: As we approach the 2023 tax season we want to prepare as much as we can for what we might face. We hope for a lively discussion of changes in forms and issues which are of value to the whole audience with just a “Get Ready Set and Go? class. Ask the expert panel and we will do our best to address your questions. And as always if you have no questions we will be prepared to discuss or expand on other issues which may have come up in previous sessions.

* Ohio CPAs: Each seminar is approved for 8 hours of CPE including 1 hour of professional standards and responsibilities for all CPAs who have already taken the mandatory 3-hour professional standards and responsibilities course. CPAs whose license expired prior to 2006 should have already taken that course. Ohio’s Accountancy Board requires that CPAs attend a special 3-hour professional standards and responsibilities course before an Ohio CPA can renew their initial license. Those who have not yet taken the mandatory course will receive 8 hours of CPE in taxation.

* Attorneys: Each of our seminars are approved for 6.75 sixty-minute hours of CLE including 1 hour of ethics by the CLE accrediting agencies in Iowa, Ohio, Nebraska, and Illinois, and by the Federal Courts. In Pennsylvania, each of our seminars is approved for 6.5 sixty-minute hours of CLE including 1 hour of ethics.

* CFPs: Although Certified Financial Planners will receive 8-hours of CE credit for attending each of our 2022 seminars, none of the hours will qualify for CFP ethics credit.

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