Description

In this course, we review current year developments and planning ideas affecting individual, corporate and business income taxation using a combination of humor and examples. We will emphasize all major new tax legislation as well as other significant tax developments that affect 2023 tax return preparation and 2023 tax planning for individuals, corporations and non-corporate businesses.

Course Objectives

• To review major developments in federal income taxation for individuals, corporations, and other businesses having the greatest impact on participants, their clients, and their companies.
• The course will emphasize developments affecting 2023 returns and tax planning, including any new 2023 legislation, important regulations, rulings, and court cases.
• The seminar is designed to update participants concerning 2023 tax developments emphasizing practical solutions to problems and tax planning opportunities.

Subjects

• 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
• The Passive Activity Limitations

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.