Virginia Chapter Education

2023 Virginia Annual Education Conference

This event will host the VA Department of Taxation, and IRS Stakeholder Liason, Helen O'Planick, EA, Vaughan Long, Frank Rooney & Kelly Campbell and will offer the following education:

• Virginia Dept of Taxation Annual Tax Update:
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  The VA Dept of Taxation will be going over the annual state tax updates for VA.
• IRS Annual Tax Updates
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  The IRS Stakeholder Liaison will give a presentation of current year (2023) tax changes and tax form updates, as well as a discussion about the current state of affairs at the IRS.
• Depreciation: Section 179 vs Bonus:
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  The choices we help our clients to make can affect their tax returns for years. We will talk about the right decisions to make and how to fix a poor decision if possible. Presented by Helen O'Planick, EA.
• Annual Ethics:
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  Attendees will help write this class as we look at ethical issues that you see in your practice. We will be collecting these issues on day one and follow up with the answers, or even more questions, on day two. A detailed discussion that covers Circular 230 sections and issues that can include a tax professional's dues and obligations that can cover items such as tax opinions, email disclaimers. Includes a discussion of how these sections apply to all types of licensed and unlicensed tax professionals to include situations where a client asks a tax professional to help them with challenges that are not tax based (such as legal or fiduciary). Includes ethical case studies that can be reviewed with tax professionals to encourage detailed discussions and learnings of practical applications of ethics in challenging situations. Presented by Vaughan Long.
• Annual Tax Update (NATP):
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  This course will assist you in getting ready for the 2024 filing season. You’ll become familiar with the new tax laws for 2023 and the impact it will have on the returns you prepare. Topics covered include the clean vehicle energy credit, the previously-owned vehicle credit, as well as reporting requirements for the Corporate Transparency Act and when clients should expect to receive a 1099-K, Payment Card and Third-Party Network Transactions. We’ll include a list of provisions expiring in 2023 and discuss tax planning tips for the upcoming year. Upon completion of this course, you will be able to: Explain tax laws applicable to 2023; summarize new developments that occurred in 2023 and advise clients on ways to lower their taxable income in the future. Presented by Helen O'Planick, EA.
• Offer in Compromise:
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  An overview of the Offer In Compromise (OIC) process and navigating tax settlements. This talk delves into the IRS Offer in Compromise program, analyzing eligibility, application process and required documentation. It highlights strategies to enhance approval chances and minimize financial impact, providing valuable insights for taxpayers seeking to resolve tax liabilies effectively. Presented by Frank Rooney.
• Like-Kind Exchanges:
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  Like-kind exchanges remain a powerful tax deferral tool for real property business or investment assets. This course is designed to help tax professionals recognize the qualifications and tax reporting of like-kind exchanges under §1031. We’ll explore the basic tax and nontax treatment of like-kind exchanges, along with related transactions that apply to the like-kind exchange. Upon completion of this course, you will be able to: Identify qualifying like-kind property; calculate the tax basis of property received in a like-kind exchange; describe the tax consequences of related party exchanges and report a like-kind exchange on Form 8824 . Presented by Helen O'Planick, EA.
• Tax Implications of Estate & Income Planning:
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  One of your biggest expenses in retirement will be taxes. This can include ordinary income taxes on Required Minimum Distributions, Capital Gain Taxes on taxable investments held for twelve months or longer. It may even include Federal Estate Taxes due nine months after the date of someone’s death. No matter which may be due, understanding how taxes will affect someone in their golden years is imperative to enjoying a successful retirement. This workshop will provide a high level understanding of the following: • The expiration of the Tax Cuts and Jobs Act (TCJA) • How Required Minimum Distributions work and how they are taxed • The Roth IRA and Roth Conversion • Income Planning for Retirees • The Federal Estate tax Minimizing taxes in retirement is not a one size fits all process. Because everyone’s income, asset and tax situation varies so significantly, understanding how each of these taxes works is the key to successfully preparing for retirement. Presented by Kelly Campbell.
• The Gig Economy:
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  COVID gave a whole new meaning to the Gig economy, and we will talk about the ins and outs as well as deductions, income and various Gig issues. The internet has exploded with Social Media workers, and we will explore that also. Presented by Helen O'Planick, EA.

Register Now!

Date & Time:

November 2-3, 2023
Attendee Check-In: 7:30 a.m. EST both days
Education on Nov. 2: 8:00 a.m. - 5:00 p.m. EST
Annual Meeting on Nov. 3: 8:00 a.m. - 8:30 a.m. EST
Education on Nov. 3: 8:30 a.m. - 5:00 p.m. EST

Location:

Great Wolf Lodge
549 East Rochambeau Drive
Williamsburg, VA 23188
757-229-9700

Fees:

Early pricing ends October 2, 2023. Print materials are included with registration fees.
Meals are included with registration fees. Breakfast, lunch as well as morning and afternoon snacks will be provided on both days.
Please reference group code 1123NATP when booking your hotel room to receive the special group rate.

Cancellation Policy:

Cancellations must be submitted to NATP by October 20, 2023.

All tax preparers are responsible to verify the number of credits they receive each year and the related state or federal reporting requirements to maintain their credentials.

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