Event Detail

1040 Workshop for Experienced Preparers

Description:

On-line registration is closed. To register, please email riscpamembers@riscpa.org.
 
Topics include what is new and what needs review including the increase in certain charitable contributions deductible by non-itemizers; modification of limitations on (cash) charitable contributions; problems with donor advised funds; the impact of Section 1202 on stock options and other transactions for federal and MA tax purposes; a review of RMDs; inherited IRA restrictions; Traditional and Roth IRAs; rules and limitations regarding discharge of qualified mortgages; treatment of remote workers; issues involved with filing returns for deceased individuals; and major changes in MA tax law.
 
Topics also include changes made by the Inflation Reduction Act (8/16/22) with a myriad of effective dates untangled regarding credits; two changes in the Infrastructure Investment and Jobs Act (11/15/21); the status of the enhanced child tax credit and advance payments beginning on 07/15/21 through 12/31/21; enhanced EITC; refundability and enhancement of child and dependent care credit; credits for paid sick and family leave; credit for sick leave for certain self-employed individuals; credit for family leave for certain self-employed individuals; extension of the employee retention credit for wages paid after 06/30/21 and before 10/01/21 (before 01/01/22 for "recovery startup businesses"); tax treatment of restaurant revitalization grants; and modification of treatment of student loan forgiveness.
 
Finally, topics include the status of Form 3115 regarding leasehold improvements under Rev. Proc. 2020-25 and 2022-14, what you can do if depreciation was missed, and the missed election out of bonus depreciation on prior year tax returns; the new required method for filling Form 3115 for changes in methods of accounting; a complete discussion of the methodology for analyzing an expenditure and treatment as a capitalized expense, a Section 162 expense, or as a deduction under the de minimis rule in Section 263(a)-1(f); Section 179 expensing and Section 168(k) special depreciation; and much more.

Highlights:

 

Objectives:

After completing this program, participants will be able to identify and resolve various issues involved in the preparation of Form 1040 returns.

Prerequisites:

 

Notes:

Peter A. Birkholz, MST, EA, has more than 52 years of tax practice experience including 13 years working on the first online computerized tax preparation software program.

Boston Tax Institute, is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.  Polling questions will be asked during the conference to verify participation for those needing NASBA certification.

Designed For:

CPA, EA, Attorney, CFP, or other practitioners with 2 or more years of work experience and some familiarity with the subject matter

 

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