Preheat the oven to 425°F and spray a large sheet pan with cooking spray. Set aside.
Clean and cut the potatoes into wedges. Try to keep the potatoes similar in size for even cooking.
Place into a large mixing bowl then drizzle the wedges with olive oil. Add the taco seasoning, onion powder and garlic powder. Season with salt and black pepper to your taste. Arrange on the baking sheet.
Bake for 35-40 minutes until crispy and fork tender. Turn once while cooking.
Remove from the oven and sprinkle with shredded cheese. Arrange the black beans and black olives on top. Return to the oven for 3-5 minutes until the cheese melts.
Serve immediately with pico de gallo, crumbled bacon, sour cream, crumbled queso fresco and pickled or fresh slices of jalapeno peppers.