Instructor
Don Farmer, CPA, is past president of Don Farmer, CPA, PA. A former tax partner with Deloitte & Touche, LLP, he resigned his position as partner and became a consultant in order to devote most of his time to writing and lecturing. Each year, Don writes and presents CPE programs across the U.S., making presentations in more than 40 states.
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. The course format is designed to update CPAs with various levels of experience.
DON FARMER'S 2023 TAX UPDATE WILL GET YOU UP TO SPEED ON THE BARRAGE OF TAX DEVELOPMENTS FOR 2023!
It seems the volume of tax developments increases every year and 2023 is no exception. Most of the tax provisions in SECURE Act 2.0 (enacted December 29, 2022) are first effective for 2023. The SECURE Act modifies the RMD rules for retirement plans and makes an unprecedented number of changes to other retirement plan provisions. In addition, all the modified energy credits included in the Inflation Reduction Act (IRA) are first effective for 2023. This includes credits for electric vehicles, increased credits for energy-efficient home improvements, increased business energy credits, and the provision allowing the sale of energy credits between taxpayers. In addition, there have been important IRS regulations, other IRS releases, and important court decisions during 2023. Don=s 2023 Tax Update will focus on 2023 developments affecting 2023 returns and 2023 tax planning, including planning with SECURE 2.0, the Inflation Reduction Act, IRS releases, and court cases. Just some of the topics to be covered include B
This event has been pre-approved for IRS CE.
This event has been pre-approved for 8 hours of CFP Credit.
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.
The major topics covered in this seminar include:
1) A review of the latest new law provisions affecting 2023 returns including provisions of the SECURE Act 2.0 and developments relating to the Inflation
Reduction Act;
2) A review of any late-breaking 2023 tax legislation;
3) New regulations modifying the required minimum distribution (RMD) rules for 2023;
4) An analysis of the new 2023 energy credits for energy-efficient improvements to residences and rental property;
5) Electric vehicles qualifying for EV credits;
6) IRS’s new Employee Retention Credit Training Guide;
7) 1099-K reporting;
8) Digital asset reporting rules;
9) New tax cases, rulings, and regulations expected to have the most significant impact on individuals and businesses. The presentation will emphasize tax
planning opportunities resulting from these recent developments.
At Least One “Tax Season.”
Individuals having one or more Tax Seasons and a general understanding of individual, corporate and business income taxation who are involved in the preparation and/or review of individual, corporate and business income tax returns or who provide tax planning advice to individuals and businesses.