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Secure Transaction 2023/2022 Easy Update & Inflation Adjustments
Format
Self-Study
Course Level
Overview
CPE Credits
10 Credits: Taxes
Course Description
This mini-course examines key individual, business, retirement, and estate tax provisions recently enacted or indexed for inflation in an overview format that is easy to reference. The emphasis is on quick access to major tax changes having special meaning to the tax practitioner and return preparer. The course is a great resource and a way for professionals and staff alike to easily get the “big chunks” and bring their professional knowledge up to speed.
Learning Objectives
After completing this course, participants will be able to:
- Recognize the various issues affected by inflation and recent tax law developments especially as they relate to individual tax brackets, exemptions & deductions, the AMT, the child tax credit, alimony, HSAs, education plans, and energy credits;
- Determine the key business tax issues affected by inflation adjustments and recent legislative changes, including corporate tax rates, entertainment expenses, tax credits & deductions, bonus depreciation, expensing, standard mileage rates, employment taxation, repatriation of foreign income, small business stock, partnership taxation, and excessive compensation;
- Specify differences between various retirement plans, including inflation-adjusted contribution limits and phaseout limits, and determine estate taxes by identifying trust income tax rates and determining applicable exclusion amounts;
- Apply changes imposed by the Inflation Reduction Act (IRA) relating to credits allowed for the individual acquisition of qualified electric vehicles and energy-efficient home improvements and property;
- Recognize a wide spectrum of renewable energy credits and the application of the prevailing wage and apprenticeship requirements; and
- Specify key IRA business and Medicare provisions, including energy-efficient buildings, corporate AMT, loss limits, and drug reforms.
- After studying the materials, answer exam questions 1 to 40.
Course Specifics
823325800
March 14, 2023
General understanding of federal income taxation.
None
225
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02330-23-S
IRS Federal Tax Law Credits: 10
CTEC Course Number: 2071-CE-1899
CTEC Federal Tax Law Credits: 10
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
QAS Self-Study
Meet The Experts
Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …