Description

This course reviews current-year developments, recurring problems, and planning ideas. Using a combination of humor and
examples, we will focus on tax developments that affect 2023 individual income tax planning and return preparation.

Course Objectives

• Provide explanations and planning ideas relating to the latest 2023 individual income tax developments, including the most recent guidance on new tax law provisions
• Help practitioners prepare for “Tax Season”
• Review and update various tax law provisions and planning ideas affecting individuals.

Subjects

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.

Who Should Attend?

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

Prerequisites

At least one “Tax Season.”

About the Instructor

J. William Harden, Ph.D., CPA, ChFC, University of NC Greensboro / Greensboro, NC Bill is an Associate Professor in the Bryan School of Business and Economics at UNC Greensboro, where he teaches tax courses on flow-through entities, individual and corporate tax, tax research, IRS practices and ethics. Bill has over twenty years of experience in taxation. He began his public accounting career in 1990 in the Dallas office of one of the Big Six accounting firms. In addition to his university teaching, Bill consults on tax and financial planning issues and maintains a sole practice in North Carolina, focusing on taxation and financial consulting for small businesses and individuals. Bill has testified before the House Ways and Means Oversight Sub-Committee on internet taxation issues. He was the recipient of a Lybrand Certificate of Merit in 2002. Bill has been involved in CPE instruction for over a decade. He was the author of the AICPA's tax update courses from 2007 through 2012 and received AICPA instructor awards in 2011, 2012 and 2013. Bill also received NCACPA outstanding instructor awards in 2009, 2010 and 2011. Bill has authored over 30 publications in tax accounting and financial planning journals, including the Journal of Financial Service Professionals, Strategic Finance, National Tax Journal, Journal of Business Finance and Accounting, Tax Notes, Tax Advisor, Journal of the American Society of CLU and ChFC. Mr. Harden is currently a member of the American Accounting Association, the American Taxation Association, the National Tax Association, the AICPA, and the North Carolina Association of CPAs. He is a past board member of the Piedmont Chapter of the NCACPA.