Our speaker, James S. Hockenberry, is the president of Back to Basics Income Tax Seminars and has over 33 years of experience in income tax and financial planning. He is an Enrolled Agent with a Bachelor of Business Administration (BBA) degree from the University of Wisconsin – Eau Claire. He has worked as a tax researcher/technical writer and has served as an instructor for several tax and financial organizations. Jim has also written several texts regarding income tax, estate tax, and financial planning matters.
Description of Material:
Federal Update: – A complete “Form 1040 and Beyond” review of up-to-the-minute tax law and IRS form changes for 2023 tax returns, with a focused explanation and analysis of the more difficult areas. Also providing numerous practical and useful illustrations to have you up and running for tax season.
Complete Analysis of New 2023 Tax Legislation: An in-depth discussion of the new tax bills, and any additional tax laws that will affect the 2023 income tax return, as well as tax planning ideas for your clients.
Topics to include:
-Interaction of Pell Grants and Scholarships with Education Credits
-Update on Beneficial Ownership Information Reporting Requirements
-Tax Treatment of Cryptocurrency Staking Rewards
-Form 7205, Energy Efficient Commercial Building Deduction
-Form 8936, Clean Vehicle Credits
-Form 5695, Residential Energy Credits
-Ethics – this session will address the rules of practice before the IRS and the reach of the IRS Office of Professional Responsibility.
Objectives, upon completion of this course, you will be able to:
-Understand the latest changes to recent federal tax legislation.
-Complete Form 1040 for the 2023 filing season.
-Provide your clients with planning considerations for the upcoming year.
-Understand the obligations of a tax professional under Circular 230.