Fiscal Winners and Losers – How Inflation Has Affected Tax Returns and Liability
CPE Program Knowledge Level: Overview
2 CPE Credit; NO prerequisites or advance preparation
CTEC Course #: 3022-CE-0167
IRS/RPO Approved Program
#7ZBUJ-T-00118-23-O (Online/Group) Live (Group-Internet Based)
#7ZBUJ-T-00118-23-S (QAS Self Study) Archive
Federal Tax Law (2 Hours)
This online learning program, presented as a live webcast, will be also archived for QAS Self Study. The program will be available for viewing for 12 months after the live webcast. A panel of IRS and industry experts will present the content during a live, interactive discussion, where participant questions can be submitted. Questions will be answered live on the program or posted on the Resources page.
The program, through a lively round-table discussion and real time interaction with the audience, examines the impact inflation has had on tax returns and liability. The program will focus on many of the tax provisions that are adjusted annually for inflation and how those adjustments benefit or hurt particular taxpayers. Panelists will discuss the tax rates and income items subject to adjustment. Panelists also will explore the inflation-adjusted exemptions, deductions, and tax credits, and how inflation has affected retirement plan contributions and benefits.
By the end of the program, participants will have a practical understanding, through accurate, current, and effectively designed communications, of the impact of inflation on tax returns and liability.
Program Learning Objectives
- Identify how inflation affects tax rates and tax liability.
- Identify how income items are affected by inflation.
- Identify the tax credits that are adjusted for inflation.
- Identify the impact of inflation on retirement plan contributions and benefits.
- Tax tables
- Alternative minimum tax
- Capital gains and losses
- Social Security benefits
- Employee benefit exclusions
- Health care benefit exclusions
- Savings Bond interest
Deductions and Exemptions
- Personal exemption
- Standard deduction
- Additional standard deduction
- Limitation on itemized deductions
- Interest on education loans
- Qualified business income
- Mileage rates
- Earned income
- Low-income housing
- Contribution limits
- Benefit limits
- SIMPLE plan
- Highly compensated employees
- Key employees â€ƒ
Alan Pinck, EA
A. Pinck & Associates
Alan Pinck is an Enrolled Agent with over 30 years of tax preparation experience in the San Francisco Bay Area. He has built a practice specializing in individual, small business tax preparation and audit representation. You have seen Alan presenting at NTPI events, CSEA Super Seminar, Spidell Publishing as well as a variety of other presentations for tax groups and small business associations. Having represented thousands of tax returns in audit, Alan has obtained tremendous insight of the audit process as well as knowledge on a wide variety of tax issues.
David F. Windish, J.D., LL.M
David F. Windish, J.D., LL.M. in taxation, is a tax attorney and consultant. He has served as an instructor of tax-advantaged investments at the New York Institute of Finance; an Instructor of business law at the U.S. Merchant Marine Academy, Kings Point, N.Y.; and an adjunct professor at George Mason University, Fairfax, Va. He has also served as executive editor for Tax Analysts; managing editor for Business Strategies, published by CCH; and senior editor for the Institute for Business Planning.
Mr. Windish is the author of Practical Guide to Real Estate Taxation, published by CCH and currently going into its sixth edition. Earlier works include Tax Advantaged Investments and Investor's Guide to Limited Partnerships, both published by the New York Institute of Finance. Through the Center for Video Education, he authored continuing education courses dealing with real estate and closely held corporations. Those courses included readings, case studies, and videotape segments.
Mr. Windish is a graduate of Rutgers University Law School and the New York University School of Law, Graduate Division. He has been heard as a guest speaker at professional meetings and seminars and on popular radio programs.