Webinar: 2023 1040 Individual Tax Conference Part A by Professional Tax Institutes, Inc.

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About This Webinar

A disaster loss occurs when your property is damaged from a storm, fire, or similar event. The presentation will define a loss, how to your loss, how to treat insurance and other reimbursements, deduction limits, and the disaster area special rules. Form 1099-K reports payments/transactions from online platforms, apps, and processors. What are the new rules? What makes an asset depreciable? asset depreciation rules state it is property used in the trade or business or held for the production of income. Digital assets continue to rise in popularity for business use, investing, and collecting. The IRS has attempted to clarify the taxation impacts of involvement in digital asset activity and corresponding reporting compliance. The IRS has provided a Written Information Security Plan standard template, management of each tax practice needs to assess the unique risks. Consequences of one data breach can cost a practitioner hundreds of thousands of dollars. IRS Provider #0FY01 & NASBA Sponsor ID #103026.

Agenda

Disaster Relief
1099-K
Assets Eligible for Depreciation
Digital Asset Taxation
Written Information Security Plan

Presenters

Randall R Carlson, Clay Center, KS

President, Enrolled Agent

As president of Professional Tax Institutes, Inc., Randy has been in public practice for 40 years. He is a graduate of Kansas State University. He is also enrolled to practice before the IRS and holds all four ACAT credentials. Randy is a managing director at Sink, Gordon & Associates, LLP in Manhattan, KS, as well as the office manager of the firm’s branch in Clay Center, KS.

Ronald D Powell, Ocean Isle Beach, NC

Enrolled Agent, Webinar Host

Ron is a graduate of East Carolina University, BA and a graduate of Webster University, MA summa cum laude. He has more than 24 years of experience in accounting and tax preparation. He is enrolled to practice before the IRS and has been presenting continuing education programs for over 15 years.

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