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President's 2023 Budget and Tax Proposals: Must Know

  • Accountant
  • AFSP
  • CRTP
  • CFP (US)
  • CGFM
  • CPA (US)
  • CVA
  • CFA
  • EA
  • ORTP
  • CPA/PFS
  • TEP
  • ChFC
  • CSA
  • Maryland Tax Preparer
  • ERPA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CBA/MCBA
  • CFIRS
  • CWS

Published: June, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Corporate tax rate
    5 mins
  • Capital gain recognition
    11 mins
  • Partnership provisions
    28 mins
  • Estate & Gift tax
    36 mins
  • Extended statutes
    50 mins

Course Description

The Biden Administration has issued its proposed 2023 Budget.

The Treasury issued the Green Book, which summarizes the budget's revenue provisions, which are the many tax changes. Although this is not yet law, it does give us a hint at the tax priorities of the administration.

President Biden’s $5.8 trillion FY 2023 budget proposes new tax increases and other measures intended to reduce federal deficits by $1 trillion over 10 years. At the same time, the President’s budget proposes to increase overall spending on defense and non-defense discretionary programs.

Major topics covered in this CE/CPE tax course:

  • Corporate tax increase
  • Billionaire minimum income tax
  • Raise the individual income tax rate
  • Raise long term capital gains
  • Amended partnership provisions
  • Estate and Gift tax updates
  • International Tax changes
  • Energy Provisions, Credits, and deductions amendment
  • 1031 Exchanges, Real estate-related updates
  • Form 8938, Digital Assets, Student Debt
  • Updates in electronic filings paid preparers
  • IRS budget boost
  • Pending legislations

In this CE Tax course, speaker Lawrence Pon will discuss the highlights of this proposal that including higher corporate tax rates, the Billionaires Tax, and higher individual tax rates, among other proposed changes.

Here is the link to your interests: CTEC Approved CE Courses I IRS Approved Courses

Learning Objectives

  • To analyze how the Billionaire Tax will apply.
  • To discuss the proposed capital gains tax on transfers of appreciated assets.
  • To become aware of the tax increases to corporate tax, individual tax rates, and capital gains rates.
  • To review the proposed partnership changes.
  • To review how our real estate investor clients may be affected.

Recommended For

  • This IRS-approved CE Tax Course is recommended for CPA, EA, AFSP, CRTP, MRTP, ORTP, CFIRS, CWS, and any other tax professionals desiring to understand different provisions of President Biden’s 2023 Budget Proposal.
  • This CE webinar is also helpful for CFA, CIPM, ChFCA, CASL, ChSNC, RICP, WMCP, FSCP, TEP, CSA, PFS, and other tax professionals.

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • Business Owner
  • California Registered Tax Professional
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Personal Financial Specialist
  • Tax Firm
  • Tax Managers
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0991)
  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01197-22-S)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01197-22-S)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01197-22-S)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Tax Planning for Certified Financial Planner (US) (Approval No. 303978)
  • 1 CPE Credit of Taxes for Certified Government Financial Manager (CGFM)
  • 1 CPE Credit of Taxes for Certified Valuation Analyst (CVA)
  • 1 PL Credit of Taxes for Chartered Financial Analyst (CFA)
  • 1 CPD Credit of General income tax planning for Personal Financial Specialist (PFS)
  • 1 CPD Credit for Trust and Estate Practitioners (TEP)
  • 1 CPE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 1 CE Credit of Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA)
  • 1 CPE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 1 CPE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 1 CPE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit of Taxes for Wealth Management Certified Professional (WMCP)
  • 1 PL Credit of Taxes for Certificate In Investment Performance Measurement (CIPM)
  • 1 CPE Credit of Taxes for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-01221-22-S)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) 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.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) 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, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Lawrence Pon is a Certified Public Accountant, Personal Financial Specialist, Certified Financial Planner, Enrolled Agent, United States Tax Court Practitioner, and Accredited Estate Planner in Redwood Shores, CA 

Mr. Pon has been in tax practice since 1986 and speaks regularly to tax professionals and financial advisors on the latest tax planning and preparation topics.  

Mr. Pon enjoys helping his clients reach their financial goals through comprehensive tax planning and financial planning. 

Mr. Pon received his BS in Business Administration (Accounting & Finance) from UC Berkeley and MS in Taxation from Golden Gate University in San Francisco. 


About Company

Pon & Associates

www.larryponcpa.com/

We believe in the value of relationships. We view every client relationship like a partnership, and truly believe that our success is a result of your success. We are committed to providing close, personal attention to our clients. We take pride in giving you the assurance that the personal assistance you receive comes from years of advanced training, technical experience and financial acumen.

We provide a variety of services including:

  • Income Tax Preparation for all types of businesses, individuals, trusts, and estates.
  • IRS and State Audit Representation
  • Financial Planning
  • Estate Planning and Preparation
  • Business startup services including Business Planning
  • Tax Planning and Consulting
  • Charitable Planning

Our continual investment of time and resources in professional continuing education, state-of-the-art computer technology and extensive business relationships is indicative of our commitment to excellence.

Faq

FAQs content

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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.4

121 Ratings

Excellent

61

Very Good

53

Average

6

Poor

0

Terrible

1

BS

Brian Smith, CPA (US)

Jun 22nd, 2022

Solid delivery of an important topic.

ST