​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Washington Chapter Education

WA Chapter Taxposium Lunch Meet & Greet

This is a great networking opportunity for those attending Taxposium! Join your chapter during lunch in the Celebrity Food Hall - just look for the WA NATP sign! (Lunch not provided by the chapter.)

Date & Time:

Location:

2025 WA NATP Annual Meeting & Education Seminar

Melinda Garvin will present on the the following education:

• ATGs- Audit Technique Guides- A Tool We Overlook
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  Audit Techniques Guides (ATGs) help IRS examiners during audits by providing insight into issues and accounting methods unique to specific industries. While ATGs are designed to provide guidance for IRS employees, they're also useful to tax professionals who prepare returns. ATGs explain industry-specific examination techniques and include common, as well as, unique industry issues, business practices and terminology. Guidance is also provided on the examination of income, interview techniques and evaluation of evidence. So they may be helpful for business and tax planning purposes. Let's take a look at several common industries and show you how to use them as beneficial tools in your practice.
• Estates Planning Mistakes
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  Many times we need to give our clients some estate advice. Not as an attorney of course, but from a viewpoint of how it affects tax situations and some basic terms. Let's review some items the client often does, but isn't always the best decision, and then learn how to implement them in our discussions with them. We often need to be proactive in this area instead of reactive.
• Selling or Buying a Tax Practice
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  This course provides a comprehensive overview of the critical considerations, best practices, and practical strategies involved in buying or selling a tax office. Participants will explore the valuation process, learn how to conduct thorough due diligence, and examine the legal, regulatory, and ethical issues relevant to such transactions. The session will also discuss best practices for successful transition planning, including client communication and staff retention strategies. By the end of this 100- minute program, tax professionals will have a clear framework for evaluating whether to buy or sell a practice and understand how to effectively navigate the process from start to finish.
• The Evolution of Rental Properties
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  This 50-minute IRS-approved continuing education session explores the ever-evolving landscape of rental properties and their tax implications. Participants will gain insights into how legislative changes, emerging business models (such as short-term rentals), and shifting market trends have shaped rental property ownership and reporting requirements. Emphasis will be placed on the proper classification of rental activities, allowable deductions, and best practices for recordkeeping and compliance. By the end of the session, practitioners will have enhanced their ability to advise clients who hold, manage, or operate rental properties, ensuring accurate tax reporting and maximized benefits.
• Form 3115-- Missed, More. Messed UP Depreciation
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  Got a new client that never took depreciation? Or took too much? You need to fix it! Amend? You can only go back three years though…… Let us dive into this mysterious and often overwhelming Form 3115 to fix these depreciation mistakes. We will illustrate how missed depreciation should be handled, determine when Form 3115 should be filed and discuss the sections of the form that need to be completed.
• Closing an S Corporation
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  The taxpayer is excited and quick to elect tax status or set up the S Corporation, but rarely understand all that is necessary to close the S Corporation. This session will cover the steps you need to take and the tax consequences of closing. We will look at the assets at the time of closing and the decisions needing to be made in a timely manner.
• Federal Tax Law Changes
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  It is important to stay current with the new tax laws as they distinguish you from other tax preparers that do not keep up on the latest issues and changes. This discussion will focus on those tax issues and the updates for 2024 and 2025. Get the latest clarifications and details on Individual and Business Tax Updates.
• Learning Losses and Limits
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  Exactly what losses are we talking about here? Let's see it could be Passive – NOL – QBI or– EBL. Determining whether a loss from a rental, partnership or S corporation can be deducted on a taxpayer's income tax return can be very confusing. This topic sorts out the rules for deducting those losses and discusses how the limitations are calculated. We will talk about the dreaded PTP's. We'll also look at the new Qualified Business Losses and Excess Business Losses created by the TCJA and then reversed by Covid rules. Net Operating Losses are also new under the TCJA yet we still have to remember and maintain the 'old way'. So, we'll look at NOL's also! Plenty of loss types to cover and understand their interaction.
• Toxic Concoction of Sch C with EIC
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  Here are some statistics from the IRS website about the Schedule C form and EIC. • IRS estimates that 31.6% of the EITC claims, or approximately $18.2 billion were paid in error in 2022. • Income reporting errors are among the top three common EITC errors that account for more than 60% of the dollars paid in error annually. • The most common Schedule C errors on returns with EITC, which fall into the income categories are: o Over-stated expenses and losses on the Schedule C to bring income down to qualify for EITC, o Inflated Schedule C income to maximize the amount of EITC, and o Bogus Schedule C income to qualify for or maximize the amount of EITC. • Approximately 28 million Schedule C forms are filed each year. Most of these represent small, often home-based businesses. Approximately one-third of the annual tax gap is a result of underreported income or overstated deductions on Schedule C businesses. This clearly is a situation where the IRS is focusing on so let's look at the ways in which we can pass the due diligence requirements.
• Ethics - Navigating Ethical Challenges: Best Practices for Tax Professionals
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  This course is designed to provide tax professionals with a comprehensive understanding of ethical standards and best practices that govern their daily practices. Through real-world case studies, the course explores common ethical dilemmas faced by tax advisors and presents strategies to navigate them while ensuring compliance with legal and regulatory requirements. Participants will examine core ethical principles such as integrity, transparency, and professional responsibility, with a focus on maintaining client trust and safeguarding the profession's reputation. Whether you are a seasoned practitioner or new to the field, this course will provide valuable insights and tools to uphold high ethical standards in every aspect of your tax practice.

Register Now!

Date & Time:

Location:

Fees:

Early pricing ends July 31, 2025.
Registration includes lunch on both days. Guest meals are available to purchase for a $70 fee and covers lunch both days.
Electronic materials are also included and will be emailed to attendees. Print materials are available to purchase for a $75 fee.

Cancellation Policy:

Cancellations must be submitted to NATP by August 11, 2025, and are subject to a $75 fee.

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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