1040 Individual Tax Update, Dec 4-7, 2023; 1-430p Eastern

Presenting 16 hours of the latest tax law information, we will cover:
Capitalization vs. Repair; ten years since these rules were released, let’s review.
Assets Eligible for Depreciation, what are the special rules for a trade or business
Ethics and Protecting Client Data. Is a one-person practice is not too small for WISP. Do you have insurance coverage for a cyber-attack or data breech?
Independent Contractors. Helping taxpayers in specific niche markets is one way for a small tax office or an individual tax preparer to provide valuable expertise.
Affairs of a Deceased Taxpayer. The death of a loved one can be a challenging time but managing a new assets adds additional challenges.
New Developments. ERC, did you amend Form 941, or business financials or tax returns? Inflation Reduction Act, do we really understand the impact and changes?
Partnership Operations. Partnerships are governed by the organizing state statutes and by the partnership's operating agreement, have you read it?
Secure Act 2.0. We will look deeper into the law’s impact. Extended RMD age, 529 rollovers to ROTHs, new rules for Inherited IRAs, and backdoor ROTH conversions.
Small Business Issues. QBID refresher and a more in-depth look at Form 7203.
Special Taxpayers. Military personnel receive some special benefits, state of residence is important verses where they are stationed. Had an IRS audit lately? We will give you some insights to help you the next time.

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