2023 TAX SEASON & FEDERAL UPDATE SEMINAR
(Business & Individual)
Overview:
This covers both business and individual tax issues to prepare for tax season 2023. This covers reviewing the tax season "checklist" for businesses and individuals. Also covers Federal business and individual tax issues with the latest IRS developments affecting businesses, Inflation Reduction Act, what’s new in 2022 (for 2023 tax season), maxing out retirement, prior tax laws suspended now in play, properly accounting for QBI activities and related wages, the expanded information required on Schedule K-1, K-2, K-3s from Partnerships and S-Corporations, tax traps with more than one activity with at-risk basis and passive activities, the fine details of qualified improvement property (QIP), real estate depreciation, work opportunity tax credit, S-Corporation compensation issues under the rug, accountable plans, properly accounting for the major stimulus including the retroactive ERTC on Form 941-X, reporting tax credits, Cares act tax credits still available. Discuss what we need to focus on with individual tax issues, cover the latest IRS developments, self-employed tax credits, what’s new in 2022 compared to 2023, IRS tax pro accounts, recent Tax Court cases on individual tax issues, cancellation of medical debt taxation, new Form 1099-K tax issues, anticipated future IRS enforcement, anticipated IRS audit targeted issues, Form 7203 issues for S-Corp owners, tax basis considerations, controlling excess business losses, strategy for NOLs, and the net investment tax.
Includes: Full pdf copy of the PowerPoint presented and ability to re-watch the seminar through 12/31/23
CPE cannot be earned for re-watching the seminar video.
YOU DO NOT NEED TO BE A CPA, EA or TAX PRO TO TAKE THIS COURSE.
This will benefit anyone interested in staying up to date with this subject.
Major Topics
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2023 tax season "checklist" to prepare for 2022 tax preparation.
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Federal Tax issues related to S-Corporations (Form 1120-S), Partnerships (Form 1065) and Individuals (Form 1040)
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Tax effects to individuals who own flow-thru entities; S-Corporations and Partnerships
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Federal business and individual tax issues with the latest IRS developments affecting businesses
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Inflation Reduction Act
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What’s new in 2022 and 2023 for business and individual tax issues
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Maxing out retirement for owners, employees and self-employed
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Prior tax laws suspended now in play for businesses and individuals
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Properly accounting for QBI activities and related wages
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The expanded information required on Schedule K-1, K-2, K-3s from 1120S & 1065
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Tax traps with more than one activity with at-risk basis and passive activities
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The fine details of qualified improvement property (QIP)
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Real estate depreciation, work opportunity tax credit
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S-Corporation compensation issues under the rug
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Accountable plans
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Self-employed tax credits
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IRS tax pro accounts
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Recent Tax Court cases on individual tax issues
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Cancellation of medical debt taxation
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New Form 1099-K tax issues
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Anticipated future IRS enforcement, anticipated IRS audit targeted issues
-
Form 7203 issues for S-Corp owners
-
Tax basis considerations, controlling excess business losses, strategy for NOLs
-
The net investment tax
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Properly accounting for the major stimulus including the retroactive ERTC on Form 941-X, reporting tax credits, Cares act tax credits still available.
Learning Objectives
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Learn what tax laws have changed with these topics
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Learn to better understand recent tax law changes of these topics and how they may apply to you or your clients circumstances
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Learn more about these topics to better serve your clients with expanded and up-to-date information
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Learn of the effective dates of law changes
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Learn what is projected as future hot areas of potential IRS audits
Prerequisites
Participants should be familiar with Federal tax issues for various entities
Advanced Preparation
None
INSTRUCTOR & AUTHOR:
JOSHUA JENSON, CPA
aka JJ THE CPA
JJ has over 30 years of public accounting experience in the area of tax, specializing in LLC, partnership, S corporation, and related individual tax matters. He still practices in the trenches in the CPA firm he founded over 25 years ago.
Joshua Jenson is a licensed CPA in Oklahoma and Texas, licensed in all 50 states with the IRS and a member of the American Institute of CPAs and Oklahoma Society of CPAs.
JJ THE CPA has traveled to over 50 cities, presenting tax courses to thousands of fellow CPAs, EAs and fellow Tax Pros covering the latest tax laws and strategies.
JJ the CPA has over 88,000 SUBSCRIBERS and over 7 million views on his YouTube channel “JJ THE CPA,” and is heavily represented on social media, with daily postings, including daily videos released on everything dealing with money.
JJ has authored 2 books available on Amazon.
Joshua has served as the past Chairperson of the OSCPA Educational Foundation and was named CPA of the year in Oklahoma City by his CPA peers.
Joshua is a 1993 graduate of Abilene Christian University where he earned is accounting degree.
Administrative Policies
CPE Record Retention Policy
Refund Policy
Program Cancellation Policy
Complaint Resolution Policy
Course Update Policy
Additional General FAQs
Content Development Policies
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