Every day at Conference is busy!

The passage of the Tax Cuts and Jobs Act  and the Bipartisan Budget Act of 2018  brings many new provisions, updates to forms and overall application of the law. We’ve purposely selected these courses to prepare you for the 2019 filing season with coverage of the complex changes.

To attend the courses of most interest to you, simply scan your badge during the designated session times. No registration required for individual courses.

Download Excel Session Scheduler

Sunday, Aug. 5

12:00 p.m. – 8:30 p.m.

Registration desk open – pick-up your materials!

1:00 p.m. – 5:00 p.m.

Chapter leadership sessions

5:00 p.m. – 5:30 p.m.

First time attendee orientation

7:00 p.m. – 8:30 p.m.

Conference Kickoff

 

Monday, Aug. 6

7:00 a.m.

Registration desk opens

7:00 a.m.

Continental breakfast

7:00 a.m. – 7:30 a.m.

Annual meeting

8:00 a.m. – 9:25 a.m.

Welcome & keynote speaker, Shabnam Mogharabi

9:45 a.m. – 11:25 a.m.

Update – Business presented by Larry Gray, CPA


12:45 p.m. – 2:25 p.m.


2:45 p.m. – 4:25 p.m.

Imputed Interest
 

 

Zimbler
Intermediate
 

ABCs of Employee Stock Incentives

 

Lent-Paul
Intermediate
 

Benefits and Issues of the Home

 

Boushley
Intermediate
 

Resolving a Back Tax Debt

 

Green
Intermediate
 


4:40 p.m. – 5:30 p.m.

Is It Taxable? Why? Where?

 

Meredith
Intermediate
 

Repair or Improvement?
 

 

Ihm
Intermediate
 

Understanding RMDs
 

 

Lent-Paul
Basic
 

6:00 p.m.

Chapter event, An Evening at the Park

 

Tuesday, Aug. 7

11:00 a.m. – 6:45 p.m.

Expo Hall open

7:00 a.m.

Registration desk opens

7:00 a.m.

Continental breakfast

8:00 a.m. – 9:10 a.m.

Evolving to Win presented by HD Vest

9:30 a.m. – 11:10 a.m.

Update – Individuals presented by Steve O'Rourke, EA and Melinda Garvin, EA

11:10 a.m. – 12:30 p.m.

Lunch provided


12:30 p.m. – 2:10 p.m.

Rentals...Simple! Right?
 

 

Ihm
Intermediate
 

IRS Representation 101
 

 

Dombrowski
Intermediate
 


2:45 p.m. – 4:25 p.m.

Injured and Innocent Spouses

 

Keane
Intermediate
 

Ethics Bingo Reboot
 

 

Strombom
Intermediate
 

Basis – Situations and Best Answer

 

Meredith
Intermediate
 

Resolving a Back Tax Debt

 

Green
Intermediate
 

Client Data Security
 

 

Boushley
Advanced
 


4:40 p.m. – 5:30 p.m.

Is It Taxable? Why? Where?

 

Meredith
Intermediate
 

Repair or Improvement?
 

 

Ihm
Intermediate
 

Understanding RMDs
 

 

Lent-Paul
Basic
 

5:30 p.m. – 6:45 p.m.

Charity Event

 

Wednesday, Aug. 8

9:15 a.m. – 3:30 p.m.

Expo Hall open

6:45 a.m.

Registration desk opens

6:45 a.m.

Continental breakfast

7:00 a.m. – 7:30 a.m.

Demo rooms


7:45 a.m. – 9:25 a.m.

Rentals...Simple! Right?
 

 

Ihm
Intermediate
 


10:05 a.m. – 11:45 a.m.

IRS Correspondence – Action and Reaction

 

Dombrowski
Intermediate
 

Ethics Bingo Reboot
 

 

Strombom
Intermediate
 

11:10 a.m. – 12:30 p.m.

Lunch provided


1:15 p.m. – 2:55 p.m.

Basics of Basis – Part 1
 

 

Keane
Basic
 

Breaking Down Shareholder Basis

 

Garvin
Intermediate
 

Limited Liability Company

 

Voth
Intermediate
 

I Haven't Filed in Six Years – Help!

 

Cardaropoli
Intermediate
 

Criminal Tax Investigations

 

Green
Intermediate
 

ITIN – Taught in Spanish

Special course time: 1:15 p.m. – 2:05 p.m.

 

Duran
Basic
 

Introduction to Schedule C – Taught in Spanish

Special course time: 2:05 p.m. – 2:55 p.m.

 

Duran
Basic
 


3:25 p.m. – 5:05 p.m.

Imputed Interest
 

 

Zimbler
Intermediate
 

Due Diligence Made Easy

 

Tritz
Ethics
 

IRS Representation 101
 

 

Dombrowski
Intermediate
 

5:15 p.m. – 5:45 p.m.

Becoming a Candidate for the National Board of Directors Q & A

5:15 p.m. – 6:00 p.m.

How to Attract Higher Paying Clients in 3 Simple Steps presented by SmartCenter

 

Thursday, Aug. 9

7:30 a.m.

Registration desk opens

7:30 a.m.

Continental breakfast


8:30 a.m. – 10:10 a.m.


10:30 a.m. – 12:10 p.m.


1:30 p.m. – 3:10 p.m.

Criminal Tax Investigations

 

Green
Intermediate
 

Limited Liability Company

 

Voth
Intermediate
 

Update Questions Answered

 

Garvin/Gray/O'Rourke
Update
 

Injured and Innocent Spouses

 

Keane
Intermediate
 

Business Succession Planning

 

Tritz
Advanced
 

6:00 p.m. – 10:00 p.m.

House of Blues reception & concert

 

Session Details

ABCs of Employee Stock Incentives

Many companies use stock incentives as a way to attract and retain employees. The incentives may be options to buy company stock at a discounted or set price or may be an outright grant of stock to employees. In this session we will look at the various types of stock incentives commonly encountered including: Incentive Stock Options (ISO's), Employee Stock Purchase Plans (ESPP's), Nonqualified Stock Options (NQSO's) ans Restricted Stock Units (RSU's).

Objectives
  • Identify the type of equity compensation.
  • Determine if there is taxable income in the current year.
  • Correctly report the income as ordinary or capital gain income.
  • Calculate the cost basis of stock sold.
  • Make accurate AMT adjustments.
Other Details

Instructor: Kelly Lent-Paul, EA, CFP®
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

All Access – Tax Benefits for Those with Special Needs

Almost 50 million people in the United States have a disability. This session provides the tools all tax professionals should integrate into their basic tax preparation knowledge. Due to the number of households impacted, serving this large percentage of the public is NOT a "specialized subject" to research, as needed. This session will cover dependency, filing status, taxable/nontaxable income, long term care, medical deductions, work expenses, credits, ABLE accounts and more, for those with disabilities from functional to severe.

Objectives
  • Determine filing status for a person with a disability.
  • Distinguish between taxable and non-taxable disability income.
  • Identify special deductions applicable to the disabled.
  • Complete the Dependent Care Credit and Schedule R.
  • Recognize the impact of dependency and deductions upon the disabled taxpayer.
Other Details

Instructor: Cheryl Morse, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Basics of Basis – Part 1

When buying or selling assets, the basis of those items is critical to the future calculation of capital recovery, gain or loss realization and recognition, and depreciation. This session provides the tools to determine an asset’s initial basis and adjustments to that basis. Assets discussed are tangible or intangible property, including real and personal property, stocks, bonds, and mutual funds, as well as partnership and S corporation interests.

Objectives
  • Identify basis based on various means of acquisition, including purchase, creation, gift and inheritance.
  • Identify payments capitalized as part of basis and those expensed as a current operating expense.
  • Calculate the basis of stocks.
  • Calculate the basis of mutual funds using the allowable methods.
Other Details

Instructor: Kathryn Keane, EA
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Basics of Basis – Part 2

When buying or selling assets, the basis of those items is critical to the future calculation of capital recovery, gain or loss realization and recognition, and depreciation. This session provides the tools to determine an asset’s initial basis and adjustments to that basis. Assets discussed are tangible or intangible property, including real and personal property, stocks, bonds, and mutual funds, as well as partnership and S corporation interests.

Objectives
  • Apply the timing and ordering of basis adjustments.
  • Differentiate between a partner’s outside and inside basis in a partnership.
  • Recognize the difference between a shareholder’s stock basis and debt basis in an S corporation.
Other Details

Instructor: Kathryn Keane, EA
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Basis – Situations and Best Answer

This session will look at real life situations involving basis. Using facts and circumstances given, we’ll use real-life situations to learn to apply the rules and regulations of basis for separate property states.

Objectives
  • Discuss basis rules and regulations over time.
  • Identify the difference between tax basis and civil law basis.
  • Examine implied situations and how that changes basis.
  • Define how inherited date affects basis.
  • Document the history of how the property got to the current owner.
Other Details

Instructor: Marilyn Meredith, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Identify – Implement – Improve – Before You’re Exposed - …Ethically

Implementing Circular 230 in a real life tax office can be very challenging. Learn from two well-known ethics speakers sharing how they implement ethical practices in our increasingly unethical society.

Objectives
  • Identify areas of weakness in their practices.
  • Devise best practices that not only serve their clients but protect the tax professional.
  • Understand the requirements for e-file compliance as well as due diligence compliance.
  • Formulate worksheets, checklists and guideline to better serve their clients.
  • Recognize scenarios that endanger the tax professional.
Other Details

Instructor: Kathryn Keane, EA and Melinda Garvin, EA
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Ethics; CTEC - Ethics; NASBA - Regulatory Ethics

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Breaking Down Shareholder Basis

When the shareholder in an S Corporation gets that K-1 do you know where to report the income, deductions, credits, draws or losses? Can you report them on the shareholders personal return? Do you understand the various limitations that apply to basis? This session will take shareholder basis from the formation of the S corporation through profits, losses, draws, shareholder changes and shareholder terminating. It will contain a worksheet case study to fill out during the session for hands-on involvement.

Objectives
  • Calculate the shareholder’s basis in the S Corporation.
  • Determine how much of a pass-through loss is deductible after applying the basis, at-risk, and passive activity limitations.
  • Analyze the shareholder’s tax effects when distributions are received from an S corporation.
  • Complete a shareholder’s basis worksheet and reconstruct past year basis worksheets including debt basis
Other Details

Instructor: Melinda Garvin, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Business Start-Up and Choice of Entity

It seems everyone dreams of starting their own business and “being their own boss.” Many of those individuals come to us, the tax professionals, for advice on making that dream a reality. Especially when considering the Tax Cuts and Jobs Act of 2017 and the apparent tax advantage of Qualified Business Income, we are likely to see even more taxpayers striving to become entrepreneurs. A competent tax professional is also a trusted advisor and should be ready to give basic guidance on starting a business, choosing the best entity structure, keeping good books and records, controlling cash flow, and remaining compliant with federal and state tax laws. In this session, we will present a road map to starting a business and guideposts along the way where the tax advisor can play a crucial role in helping the new business owner make their dreams a reality. We will also point out the common missteps of many new entrepreneurs and how to help our client avoid those obstacles to success.

Objectives
  • Advise your client on the steps to successful business start-up, including basic market research, identifying a client base, writing a business plan, funding the start-up, and establishing a good recordkeeping system.
  • Understand the various entity structures available for the new business, the cash flow and tax aspects of each entity, and the logistics of operating under each entity structure.
  • Help the new business owner understand the need for adequate capitalization for their new venture and the consequences of the too-thinly capitalized business.
  • Advise the client on prevailing state statutes applicable to the new business, including business entity registration, sales tax liability, unemployment taxes, workmen’s compensation and other license or permit requirements.
  • Have an awareness of the potholes and pitfalls that the new business owner may encounter and be prepared to guide them around those obstacles to success.
Other Details

Instructor: Jaye Tritz, EA, CFP®
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Business Succession Planning

Most small business owners look forward to retirement, but few have looked beyond that event and considered how and if their business will be passed along to the next generation. For many, the business is their life’s work and may be their single most valuable asset for retirement funding and legacy planning. The development of a realistic and attainable business succession plan will ease the transition and provide the greatest return on equity for the retiring business owner. This seminar will outline the process of developing a business succession plan and present several “exit strategy” options. We will examine the tax impacts of each option and discuss how to structure a transfer agreement to achieve maximum tax advantage both before and after the transaction. We will discuss strategies to pass the business on to family members as well as the consequences of complete liquidation or termination of the business. Developing a sound business succession plan is hard work, and we can offer solid, objective advice and guidance.

Objectives
  • Understand the general life cycle of a small business and when business succession planning is most useful.
  • Know the factors which should be considered when developing a business succession plan.
  • Assist the business owner in evaluating their business and its worth in a realistic and objective manner.
  • Advise the business owner in the design and implementation of a sales agreement and the tax aspects of the sale.
  • Understand the strategies that may be employed to incrementally pass the business family members.
  • Know the tax implications of a complete liquidation of a business.
Other Details

Instructor: Jaye Tritz, EA, CFP®
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Casualty Losses in Declared Disaster Areas – Part 1

Given the numerous disasters throughout the nation, this session will focus on Presidentially Declared Disaster Areas, hurricane disaster relief and wildfire issues.

Objectives
  • Determine loss in fair market value due to casualty loss.
  • Determine losses and what is available with regard to tax issues within tax law.
Other Details

Instructor: Randy Lawshé, EA
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Casualty Losses in Declared Disaster Areas – Part 2

We’ll build on the information presented in Part 1 and apply the knowledge to sample scenarios that your clients may face.

Objectives
  • Determine tax implications using case studies.
  • Calculate fair market value for property affected by casualty loss.
Other Details

Instructor:Randy Lawshé, EA
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Client Data Security

Both Circular 230 (IRS) and the Graham, Leach, Bliley Act (Federal Trade Commission) impose requirements on income tax preparers to protect the confidentiality of client information. Learn what the statutory requirements are and best practices of complying with those requirements. Among other topics we will discuss: your written “security plan”, staff training, office technology, email, faxing and storage of client files.

Objectives
  • Describe the data security requirements of Circular 230, the Internal Revenue Code and the Graham Leach Bliley Act.
  • Identify what client information is considered confidential.
  • Create a list of security risks that exist in your office.
  • Define safeguards that are or will be taken to prevent inappropriate disclosure of client information.
  • Establish a schedule for testing and evaluating current safeguards.
  • List those within their organization who need to be trained on security issues.
  • Compare the relative security of different forms of sending confidential information (email, fax, Postal Service, etc).
  • Describe proper destruction of paper and electronic files.
  • Describe how to verify the security of data in their tax software data files.
Other Details

Instructor: C. Dale Boushley, EA, CFP®
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Correcting Depreciation – Form 3115 Line-by-Line

Have you ever had a client who was not depreciating their rental, or who was depreciating the land as well as the building? These corrections are made by filing Form 3115. Learn some amazing shortcuts to help you complete this complicated form in just minutes.

Objectives
  • Understand the complicated language on Form 3115.
  • Determine which taxpayers are required to file Form 3115 to correct depreciation.
  • Realize why correcting depreciation is important when a property is sold.
  • Correctly report income or deductions resulting from depreciation corrections.
  • Quickly complete the complicated eight-page Form 3115.
Other Details

Instructor: Lisa Ihm, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Criminal Tax Investigations

IRS criminal investigations are a significant part of IRS enforcement, as they foster compliance and serve to punish those who violate the law. This session will walk attendees through the various tax crimes, the criminal tax process, and cover IRS investigatory techniques of both taxpayers and tax preparers. This session will also explain the role of tax loss in the criminal process and for sentencing of defendants, and what practitioners should be aware of when they are dealing with their clients to avoid going from witness to target.

Objectives
  • Explain the various tax crimes.
  • Understand the criminal tax process.
  • Identify the various techniques IRS Criminal Investigation uses when investigating a taxpayer.
Other Details

Instructor: Eric Green, ESQ
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation and representation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Due Diligence Made Easy

“Due Diligence” – Those have become the two most hated (or feared) words in the English language, at least in the world of the tax professional! Now due diligence is a concept that has been around for a very long time and is probably deeply ingrained into us as ethical tax professionals. But it is the requirement that we demonstrate (and document) the specific steps and actions we take in the exercise of that due diligence that has become so onerous and burdensome. Learn the guidelines for an organized but thorough client interview, a list of documents that should be retained, how to properly document your due diligence action steps, and how to establish a system to meet the requirements of due diligence. We will look at some of the most problematic situations and those occasions where, perhaps, the client should be dismissed for untruthful or conflicting responses to your inquiries.

Objectives
  • Know the requirements of demonstration of due diligence with respect to the refundable tax credits and HOH filing status.
  • Have insight on what information is required to be obtained to insure the taxpayer’s qualification for claiming the tax benefit.
  • Develop a systematic approach to obtaining the required information through an organized and thorough client interview.
  • Practice the documentation of your due diligence steps in the format required by the IRS and how to employ your software to complete that documentation.
  • Develop objective and responsive interview techniques to gain a full understanding of your client’s situation.
  • Know when a client engagement should be terminated for uncooperative, untruthful, or conflicting responses to your inquiries.
Other Details

Instructor: Jaye Tritz, EA, CFP®
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Ethics; CTEC - Ethics; NASBA - Regulatory Ethics

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Ethics Bingo Reboot

Ethics is required for most designations, but it is not required to be boring! Have fun with ethics situations and apply the rules to a cast of characters who need guidance.

Objectives
  • Demonstrate effective application of Circular 230 on real life situations.
  • Exercise due diligence with regard to refundable credits.
Other Details

Instructor: Laura Strombom, EA, MBA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Ethics; CTEC - Ethics; NASBA - Regulatory Ethics

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Gig Economy, Crowdfunding and Cyber Currency Part 1

The rise in popularity of gig/shared economy ventures leads to many questions when preparing these clients’ returns. We will cover the important aspects of properly evaluating ‘gig’ jobs, ride sharing via Uber/Lyft, Airbnb, review the various tax aspects of crowdfunding and review the tax aspects of cyber currency (e.g. bitcoin).

Objectives
  • Summarize employee/contractor rules.
  • Apply employee/contractor rules to gig jobs, ride sharing and home office rules.
  • Analyze the different tax aspects of rental of property via Airbnb and similar sharing applications.
Other Details

Instructor: Lawrence Zimbler, MST, EA
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Gig Economy, Crowdfunding and Cyber Currency Part 2

We will continue to cover the important aspects of properly evaluating ‘gig’ jobs, ride sharing via Uber/Lyft, Airbnb, review the various tax aspects of crowdfunding and review the tax aspects of cyber currency (e.g. bitcoin).

Objectives
  • Continuing analysis of the tax aspects of rental of property via Airbnb and similar sharing applications.
  • Consider the various types of crowdfunding efforts that exist and the tax consequences of each, including the new equity offerings available.
  • Define cyber currency and the tax consequences of ownership and use of cyber currency.
Other Details

Instructor: Lawrence Zimbler, MST, EA
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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I Haven’t Filed in Six Years – Help!

There are many nonfilers in the United States. No matter what tax reform looks like, the IRS will still be the enforcer of tax law and find nonfiling taxpayers.

Objectives
  • Identify the practical risks of a non-filer.
  • Setup a work program for a non-filer.
  • Determine what the non-filer needs.
  • Choose a collection strategy.
Other Details

Instructor: Genaro Cardaropoli, CPA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Imputed Interest

The IRS uses the imputed interest concept to ensure that the full amount of interest income is properly reported. Learn the history, concept and computation of various treatments for ‘below market’ interest.

Objectives
  • Identify imputed interest situations.
  • Identify imputed interest exemptions/exceptions.
  • Compute the amount of imputed interest.
  • Report imputed interest on a tax return.
Other Details

Instructor: Lawrence Zimbler, MST, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Injured and Innocent Spouses

Often couples split leaving one spouse holding the bag. When that bag is a tax bag, the burden could be crushing. This session is vital for tax professionals with clients “uncoupling” from spouses with tax burdens and addresses both the Injured Spouse Allocation and the many faceted Innocent Spouse position for tax relief.

Objectives
  • Differentiate between the Injured Spouse and Innocent Spouse conditions.
  • Recognize the potential of a conflict of interest in these cases.
  • Establish interview questions to detect potential injured spouse cases.
  • Properly prepare and use Form 8379.
  • Understand the requirements for innocent spouse treatment.
  • Establish procedures to document innocent spouse cases.
  • Properly prepare and use Form 8857.
Other Details

Instructor: Kathryn Keane, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Introduction to Fixed Assets – Part 1

Learn the basic depreciation concepts on Form 4562, Depreciation and Amortization, including §179 and bonus depreciation. You’ll review the special rules for listed property (passenger automobiles, etc.), and learn how to report the sale of business property on Form 4797, as well as the tax consequences of such sales.

Objectives
  • Identify the depreciation methods for fixed assets.
  • Apply the listed property rules.
  • Outline the requirements for claiming §179.
  • Determine if a change in property is an improvement vs. a repair.
  • Complete Form 4562 when required.
Other Details

Instructor: Cheryl Morse, EA
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Introduction to Fixed Assets – Part 2

We’ll continue to cover the basic depreciation concepts on a Form 4562, Depreciation and Amortization, including §179 and bonus depreciation. You’ll review the special rules for listed property (passenger automobiles, etc.), and learn how to report the sale of business property on Form 4797, as well as the tax consequences of such sales.

Objectives
  • Determine when §280F recapture is necessary.
  • Report the disposition of business property in the appropriate section of Form 4797.
  • Calculate the gain or loss on sale.
  • Define depreciation recapture, unrecaptured §1250 gain, and nonrecaptured §1231 losses.
Other Details

Instructor: Cheryl Morse, EA
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Introduction to Schedule C – Modified – Part 1

This course is designed to help tax professionals who are new to sole proprietorship tax preparation. It focuses on individual income tax issues and the preparation of Schedule C, Profit or Loss From Business, and other major related forms. Also covered are business vehicles, business use of home and depreciation. This is taken from NATP’s 8 hour course and has been modified to fit the allotted time.

Objectives
  • Identify types of income and expenses reported on Schedule C.
  • Review Schedule C.
  • Review Schedule SE, Self-Employment Tax.
  • Determine the business use of a vehicle and the substantiation requirements.
Other Details

Instructor: Laura Strombom, EA, MBA
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Introduction to Schedule C – Modified Part 2

This course is designed to help tax professionals who are new to sole proprietorship tax preparation. It focuses on individual income tax issues and the preparation of Schedule C, Profit or Loss From Business, and other major related forms. Also covered are business vehicles, business use of home and depreciation. This is taken from NATP’s 8 hour course and has been modified to fit the allotted time.

Objectives
  • Identify the §179 expense election and limitations.
  • Identify allowable depreciation methods, including MACRS, GDS, ADS, and bonus depreciation.
  • Highlight Form 4562, Depreciation and Amortization.
  • Determine eligibility for a deduction for business use of the home.
  • Review Form 8829, Expenses for Business Use of Your Home.
Other Details

Instructor: Laura Strombom, EA, MBA
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Introduction to Schedule D – Part 1

With this course, you’ll gain a basic knowledge and understanding of Form 8949, Sales and Other Dispositions of Capital Assets, and Schedule D (Form 1040), Capital Gains and Losses, for individual taxpayers. The course covers issues such as determining the correct basis of an asset, the proper disposition of a capital asset and the tax treatment of capital gains and losses, including the net investment income tax and the §121 exclusion for gain on the sale of a principal residence.

Objectives
  • Identify sales that are reported on Form 8949.
  • Determine how to calculate the basis of assets so that you can calculate the gain or loss.
  • Understand how to determine basis when selling property for less than its fair market value.
  • Decide when and how remainder interest should be applied when selling property.
Other Details

Instructor: Kelly Lent-Paul, EA, CFP®
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Introduction to Schedule D – Part 2

With this course, you’ll gain a basic knowledge and understanding of Form 8949, Sales and Other Dispositions of Capital Assets, and Schedule D (Form 1040), Capital Gains and Losses, for individual taxpayers. The course covers issues such as determining the correct basis of an asset, the proper disposition of a capital asset and the tax treatment of capital gains and losses, including the net investment income tax and the §121 exclusion for gain on the sale of a principal residence.

Objectives
  • Identify sales that are reported on Schedule D.
  • Calculate the adjusted basis of capital assets.
  • Determine whether the holding period of an asset is short-term or long-term.
  • Summarize the tax treatment of capital losses.
  • Apply the appropriate tax rates to capital gains.
  • Decide if the net investment income tax applies.
  • Compute the §121 exclusion for the sale of a principal residence.
Other Details

Instructor: Kelly Lent-Paul, EA, CFP®
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Introduction to Schedule E – Part 1

Schedule E (Form 1040), Supplemental Income and Loss, is for reporting residential rental income and expenses as well as pass-through items from S corporations, partnerships, estates and trusts. With this course, you’ll gain a basic understanding of Schedule E.

Objectives
  • Identify passive loss limitations and exceptions.
  • Summarize the treatment of current and suspended passive losses upon disposition of a passive activity.
  • Identify the type of activities reported on Schedule E.
  • Interpret the information provided on Schedule K-1 and enter the information appropriately on Schedule E.
Other Details

Instructor: Genaro Cardaropoli, CPA
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Introduction to Schedule E – Part 2

Schedule E (Form 1040), Supplemental Income and Loss, is for reporting residential rental income and expenses as well as pass-through items from S corporations, partnerships, estates and trusts. With this course, you’ll gain a basic understanding of Schedule E.

Objectives
  • Determine eligibility for the special $25,000 loss allowance.
  • Recognize who meets the qualifications of a real estate professional.
  • Apply the vacation home rules.
  • Identify and report rental income and allowable rental expenses.
  • Determine the depreciable basis of property used in a rental activity.
Other Details

Instructor: Genaro Cardaropoli, CPA
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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IRS Correspondence – Action and Reaction

Review actual collections, audits and appeal letters and learn how to respond to all letters presented.

Objectives
  • Navigate basic assessments and explain how they are the cornerstone of a collections case.
  • Explain collection letters CP501-CP504.
  • Review all IRS collection letters including CP523, LT11, LT16, 1058, 668 (Levy, Lien).
  • Review CDP 12153 Form.
  • Utilize helpful tools to read and react to all notices.
Other Details

Instructor: Marc Dombrowski, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation and representation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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IRS Representation 101

Receiving an IRS letter or collection form can be intimidating. We’ll work through various IRS letters, collection forms and how to react. We’ll also cover how to read IRS transcripts of account, IRS procedures and how to help your client work with you to resolve the case.

Objectives
  • Interview a representation client.
  • Fill in a power of attorney form.
  • Understand the IRS collection case selection process.
  • Explain CSED.
  • Define assessed balance.
  • Outline the flow of a collections case through appeals.
Other Details

Instructor: Marc Dombrowski, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation and representation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Is It Taxable? Why? Where?

Determining if a purchase or service is taxable is essential to your job. This course will walk through specific situations where you’ll determine whether the facts of the case show something is taxable or not.

Objectives
  • Review various real world scenarios.
  • Discuss the most beneficial way to address the facts and circumstances.
  • Learn to look “outside the box.”
Other Details

Instructor: Marilyn Meredith, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 1 (50 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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It’s Just My House! Benefits and Issues of the Home

The personal residence can provide some great tax benefits, but be careful; there are many exceptions that have crept into the tax code over the years that may hinder or improve what the general rules allow. Will my client still qualify for the gain exclusion if they move into their rental property? Does my client have to stay the full two years if their job changes? What about property transferred in a divorce? If my client has an office in the home can they use the §121 exclusion on the whole gain? Is interest on home equity debt still deductible if my client turns his home into a rental property? How do we calculate the interest deduction if my client has one mortgage that is both acquisition and home equity on their residence? There is a lot to talk about, so come and get updated on this complex series of topics all related to your clients’ personal residences.

Objectives
  • Know if the client’s basis needs to be reduced for a pre-1997 deferred gain.
  • Determine whether any of the client’s gain on the sale of his principal residence is taxable due to “disqualified use.”
  • Calculate the amount of excludable gain when the taxpayer has used §121 within the last two years.
  • Identify nondeductible mortgage interest reported to the taxpayer on Form 1098.
  • Determine if any portion of the home mortgage fails to be deductible when a client converts his personal residence to a rental property.
  • Identify whether any part of a municipal property assessment is deductible.
  • Calculate the amount of refinancing points that are deductible each year.
  • Explain what portion of the taxpayer’s residence may be used as a home office.
  • List the deductions on Schedule E when an employee rents part of her personal residence to her employer as a home office.
Other Details

Instructor: C. Dale Boushley, EA, CFP®
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Limited Liability Company

We will provide tools for the tax practitioner to evaluate the advantages or disadvantages a business would have by operating as an LLC. Because state law dictates some of the LLC issues, we’ll focus on the federal tax issues.

Objectives
  • Determine whether partners pay SE tax.
  • Understand why an entity would organize as an LLC and the different tax implications.
  • Recognize when a partnership return must be filed.
  • Know what happens when an LLC decides to change the way it files.
  • Understand what happens when an LLC member dies.
  • Identify issues involved with doing business in different states.
  • Compare Sole Prop/Partnership vs the S Corp election issue from a federal income tax view.
Other Details

Instructor: Sue Voth, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Net Operating Losses – Part 1

Net operating losses will be a hot issue for tax purposes as a result of all of the recent environmental catastrophes in our nation. As tax professionals, we’ll need to know how to handle them.

Objectives
  • Understand net operating losses.
  • Recognize specific nuances of NOLs related to Presidentially Declared Disaster Areas.
  • Prepare AMT NOLs.
Other Details

Instructor: Randy Lawshé, EA
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Net Operating Losses – Part 2

We’ll continue our discussion of net operating losses by reviewing and analyzing potential scenarios you may face with clients.

Objectives
  • Apply NOL tax rules and regulations to various client scenarios using case studies and examples.
Other Details

Instructor: Randy Lawshé, EA
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Nonprofits – Start to Finish Part 1

Preparing a tax return for a nonprofit client requires a special set of tax law knowledge. We’ll examine all aspects of nonprofits – from assisting in the application process through the initial return. We’ll also distinguish the differences between tax-exempt and nonprofit organizations.

Objectives
  • Distinguish between activities that qualify for nonprofit status and those that are tax-exempt.
  • Prepare the forms necessary to obtain 501(c)(3) status.
Other Details

Instructor: Randy Lawshé, EA
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Nonprofits – Start to Finish Part 2

Our discussion of nonprofit tax specifics continues with everything you need to know to gather the materials you need to file an initial information return.

Objectives
  • Compile the material necessary to file the initial information return once 501(c)(3) status is achieved.
Other Details

Instructor: Randy Lawshé, EA
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Preparing for an IRS Office Audit

There are four types of IRS audits; Correspondence, Office, Field and NRP. The 'Office' audit is normally limited in scope, dealing with three or four issues. However it can be financially and emotionally devastating to your client if not handled correctly. Although this type of audit may be handled slightly differently by the various IRS offices, there are basics in the Internal Revenue Manual (IRM) you should know. Learn how to navigate through the office audit swiftly, ethically and in the best interest of your client!

Objectives
  • Explain the process.
  • Know what to ask during the initial contact.
  • Prepare for the questions that will be asked.
  • Gather necessary documents.
  • Organize documentation.
Other Details

Instructor: Stanellen Larsen, EA
Level: Basic
Prerequisites: None
# of CPE: 1 (50 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Rentals…Simple! Right?

Roommate, vacation home, B&B, less than seven-day rentals, exchange student, less than FMV rent. The list of complications is endless. Learn how to handle all of these glitches using an AMAZING flowchart that will lead you to the correct answer, one step at a time.

Objectives
  • Properly report unusual rental situations.
  • Analyze rules to determine most beneficial tax treatment for which a taxpayer qualifies.
  • Determine when IRS §280A vacation home limitations apply.
  • Understand how nonprofit rules apply to rentals.
  • Recognize activities that are not rental activities and learn how to report them properly.
Other Details

Instructor: Lisa Ihm, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Repair or Improvement?

Can you expense a new kitchen in a rental property? Or a new furnace? The answers may surprise you! We’ll use a handy flowchart to lead you through the required questions and tests, and it will be a valuable resource back in your office.

Objectives
  • Identify expenses that can be written off immediately rather than capitalized.
  • Understand personal property safe harbors and their application.
  • Determine what property must be capitalized and depreciated.
  • Apply the personal property regulations to real life situations.
Other Details

Instructor: Lisa Ihm, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 1 (50 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Resolving a Back Tax Debt: Offers, Installment Agreements and CNC Status

IRS collection does not need to be confusing or scary, yet many practitioners find it that way because they do not understand the IRS collection process. This session will cover how the IRS collection process works, the mechanics of IRS tax liens and tax levies that are utilized to help collect back taxes, and will review the options for resolving tax debts. The program handouts include sample notices and letters so you can easily identify where your client is in collection, and will also cover the current issues of the IRS utilizing private debt collectors and suspending taxpayer passports. Attendees will gain an understanding of why the area of tax resolution is so lucrative and how they can make this part of their practice.

Objectives
  • Understand the IRS Collection process.
  • Identify the enforcement tools the IRS utilizes to collect a back-tax debt.
  • Explain the various options for resolving a back-tax debt.
Other Details

Instructor: Eric Green, ESQ
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation and representation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Substantiation: Records + Receipts = Deductions

Participants will learn the standards required by the IRC to substantiate deductions and expenses. Hands on examples and handouts will be reviewed and recent changes and court cases will be discussed. Participants will be able to provide their clients with a thorough education on the types of substantiation that needs to be provided to keep their returns in tact in the case of an examination. Attendees will also learn ways to establish good basis in assets and research “lost” carryovers that can be recovered for the benefit of the taxpayer.

Objectives
  • Apply the correct IRC rules to record keeping and substantiation of deductions for taxpayers.
  • Understand the most recent items the IRS Hot Topics is hitting for exams.
  • Apply the 5 “W's and a H” theory to how to train clients in record keeping.
  • Establish accurate and sustainable basis calculations for assets and in carryovers, such as capital loss, NOL, and passive activity losses.
Other Details

Instructor: Kathryn Morgan, EA
Level: Basic
Prerequisites: None
# of CPE: 1 (50 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Tax Aspects of Bankruptcy and Debt Cancellation

This session will cover a review of federal bankruptcy requirements, Chapter 7 and means test, exempt property, Chapter 11, Chapter 13, discharge of tax debts, tax consequences to the individual taxpayer, tax attributes, short tax year and bankruptcy estate tax issues.

Objectives
  • Identify proper application of federal bankruptcy law to a client.
  • Calculate individual means test for Chapter 7.
  • Describe the difference between Chapter 7, Chapter 11 and Chapter 13.
  • Properly report the consequences of a bankruptcy filing on the individual tax return.
Other Details

Instructor: Lawrence Zimbler, MST, EA
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Tax Consequences of Self-Directed IRAs

Learn to create a tax plan for clients by utilizing the nontraditional types of investments inside their IRAs. We will also cover tax consequences of incurring unrelated business income (UBTI).

Objectives
  • Recognize when you must or should file a Form 990-T for IRAs.
  • Analyze whether it makes financial sense to have IRAs with UBTI.
  • Determine what happens when RMDs are required.
Other Details

Instructor: Sue Voth, EA
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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The Military Taxpayer: Helping Our Heroes

U.S. military income tax information documents are the most comprehensive available anywhere, if you know how to use them. The LES, RAS and the information provided by the VA are goldmines of information for the knowledgeable tax professional. You’ll learn to read the reporting documents and to use that information to your client’s advantage. We’ll analyze how the Military Spouse Residency Relief Act of 2009 helps our married military taxpayers when moving around the world. Participants will learn how to prepare the return of a veteran receiving disability benefits from the VA, how to amend prior year returns for backdated awards, how to make adjustments on the return in the year awards are made, and how to make the proper adjustments on return when repaying taxable benefits with non-taxable income. We will also learn about the tax benefits that the Tax Cuts and Jobs Act of 2017 allow our military members to take.

Objectives
  • Read the military Leave and Earning Statement and use that information to complete the taxpayers return with all the allowed special benefits.
  • Read the Retiree Activity Statement and use that information to the benefit of the military retiree on the tax returns.
  • Apply the benefits of the Military Spouses Residency Relief Act to married military taxpayers tax situations.
  • Understand the Veterans Administration (VA) disability programs’ effect on veteran's tax returns and how to apply that in the case of veterans receiving a disability award.
  • Work through an original and amended tax return applying VA disability awards for the veteran.
  • Apply the new aspects of the Tax Cuts and Jobs Act of 2017 to the military taxpayer.
Other Details

Instructor: Kathryn Morgan, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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The Use of Trusts in Estate and Legacy Planning

As the Baby Boom generation prepares to transfer its approximate $30 trillion in wealth to the next generation, there is an increased need for sophisticated estate and legacy planning. A component of such a plan may be the creation of one or more trusts. In addition to avoiding probate, minimizing estate tax exposure, and establishing an orderly transfer of assets, a properly designed trust can provide for professional management and control over wealth while meeting the needs of a surviving spouse or disabled or very young children. Trusts can also be used to provide for continued operation of the family farm or business, to make charitable contributions during one’s lifetime or upon death, or to provide for the education of future generations. It is imperative that a tax professional be aware of the tax benefits and drawbacks of these types of trusts and others. We can not only be a member of the advisory team to assist the taxpayer in designing their estate and legacy plan, but we can also assist the trustee and heirs to minimize the tax burden for all involved.

Objectives
  • Know the structure and purpose of the most commonly used trusts that may be encountered within an estate plan.
  • Understand how various types of estate-planning trusts impact estate, GSTT, and/or gift tax returns.
  • Understand the use of the §645 election for a trust.
  • Be able to advise the taxpayer of the current and future tax implications of various types of trusts including living trusts, charitable trusts, and special needs trusts.
  • Assist the trustee and beneficiaries to meet their tax obligations during the administration of a trust.
Other Details

Instructor: Jaye Tritz, EA, CFP®
Level: Advanced
Prerequisites: Practical knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Understanding RMDs

Funds cannot be kept in retirement accounts indefinitely. Generally account owners must start taking withdrawals from their IRA, SIMPLE IRA, SEP IRA, or company retirement plan when they reach age 70½. The required minimum distribution (RMD) is the amount that must be withdrawn from an account each year in order to avoid a 50% excise tax.

Objectives
  • Determine when an account owner must begin taking RMDs.
  • Calculate the RMD for account owners and beneficiaries.
  • Review which accounts can be aggregated when calculating the RMD.
  • Learn how to request a waiver of the penalty for missed RMD’s.
  • Discuss distributions options for beneficiaries of inherited retirement accounts.
Other Details

Instructor: Kelly Lent-Paul, EA, CFP®
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 1 (50 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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Update – Business

In this general session presentation, Larry will delve into the business provisions of the Tax Cuts & Jobs Act of 2017. He will focus on the Act’s impact on corporate planning including: corporate tax rate, like-kind exchange, 179 expensing, bonus depreciation, S Corp conversions, business entity reclassification, business interest deduction, fringe benefit expenses and more. There will be special emphasis on new code section 199A, aka the 20% deduction, or the QBI deduction, or the deduction for qualified business income…and the vast array of tax planning opportunities this new code section brings to our profession.

Objectives
  • Analyze how the new 21% corporate tax rate impacts entity choice.
  • Understand at the new expanded 100% bonus depreciation.
  • Discuss updated Section 179 expensing.
  • Explain why the NOL was changed.
  • Analyze major changes to like-kind-exchange.
  • Discuss various other business law changes.
  • Emphasis on 20% deduction for qualified pass-through income.
  • Understand section 199A deduction and how it works.
  • Review new terms and definitions of the 20% deduction.
  • Understand the threshold limits and how wages and qualified property impact the calculation.
  • Discuss the new QBI loss.
  • Understand, by example, combining multi-flow-through entities after determining taxable income.
  • Analyze how QBI interacts with many other code sections.
Other Details

Instructor: Larry Gray, CPA
Level: Update
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Update; CTEC - Federal Tax Law Update; NASBA - Taxes; CFP Board

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Update – Individuals

This lively discussion on the new tax bill will focus on individual issues effective for tax year 2018. We will analyze Schedule A, what's left and what's gone as well as the revised Standard Deduction rules and other applicable changes.

Objectives
  • Illustrate and discuss the new income tax rates for 2018.
  • Discuss the expanded standard deduction amounts including the applicable increases for age and blindness.
  • Review the expanded Due Diligence requirements to include head of household status.
  • Discuss the child tax credit revisions to include the higher credit amount and larger phase-out thresholds.
  • Identify the itemized deductions that are still allowed and limitations that apply.
  • Discuss miscellaneous itemized deductions that are no longer deductible and potential tax consequences.
  • Review the Alternative Minimum Tax (AMT) rules and the enhanced phase-out thresholds.
  • Analyze the gambling loss limitation and revised potential deductions.
  • Discuss the enhanced exclusion amounts for estate and gift taxes after 12-31-17 and before 1-1-26.
  • Other significant changes applicable to 2018 and beyond.
Other Details

Instructor: Steve O'Rourke, EA and Melinda Garvin, EA
Level: Update
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Update; CTEC - Federal Tax Law Update; NASBA - Taxes; CFP Board

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Update Questions Answered

After 2 hours of business update and 2 hours of individual update, you may be left with some unanswered questions. Or perhaps you thought of a question afterwards. This session will be an opportunity to ask our update instructors those unanswered questions. You are encouraged to submit questions in advance at the registration desk.

Objectives
  • Clarify and better understand the impact of the 199A.
  • Clarify and better understand tax law changes that will affect corporate clients.
  • Clarify and better understand the changes to Schedule A and the Standard Deduction rules.
Other Details

Instructor: Melinda Garvin, EA, Larry Gray, CPA and Steve O'Rourke, EA
Level: Update
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Update; CTEC - Federal Tax Law Update; NASBA - Taxes; CFP Board

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Utilizing Like-Kind Exchanges Effectively

Do your clients ask questions about exchanging property and deferring the gain? This session will cover the basic rules taxpayers need to satisfy to accomplish the like-kind exchange and develop strategies to save taxpayers significant dollars.

Objectives
  • Determine why an exchange will be beneficial to their tax client.
  • Prepare Form 8824.
  • Illustrate the effectiveness of using the exchange approach.
Other Details

Instructor: Steve O'Rourke, EA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Virtual Tax: The Taxation of Virtual Currency

This course investigates the practical implications of IRS Notice 2014-21 regarding the taxation of virtual currency. The Notice classifies virtual currencies such as Bitcoin, Ethereum, Litecoin, etc., as property; in this course, we’ll review the tax implications involved in buying, selling, earning, spending, giving, donating and inheriting these rather unusual types of property. In addition, we’ll discuss best practices for the tax preparer in navigating these potentially treacherous waters.

Objectives
  • Discover that you don’t have to understand what virtual currency is in order to know how to report it on a tax return.
  • Be able to report investment gains.
  • Understand the tax implications of mining virtual currency.
  • Know what to do when a virtual currency forks.
  • Understand how to value virtual currency donations.
  • Be able to help your client manage his virtual currency transactions so as to comply with tax reporting requirements.
  • Be able to help your client manage his virtual currency transactions so as to comply with tax reporting requirements.
Other Details

Instructor: Amy Wall, EA, MBA
Level: Intermediate
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 1 (50 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes; CFP Board

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1040 NR – Taught in Spanish

This course is designed to help tax professionals who are new to form 1040NR tax preparation. It focuses on nonresidents income tax issues, the preparation of form 1040NR, who is a nonresident alien, and other related schedules. Also covered some rules for partners withholding and the allowed deductions.

Objectives
  • Review a Form 1040 NR.
  • Determine who should file Form 1040 NR.
  • Explain the difference between a resident and a nonresident.
  • Discuss how various items affect the filing of Form 1040 NR, including: sources of income, exclusion of income, deductions, self-employment tax, sale of real estate, scholarships and students.
Other Details

Instructor: Regina Duran
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Completing Schedule C – Taught in Spanish

The course aims to individual income tax issues and to facilitating the understanding of Schedule C form to tax practitioners as well as the preparation of the document. Procedures for completing Schedule C will also be analyzed.

Objectives
  • Complete Schedule C, Profit or Loss From Business.
  • Apply the vehicle use substantiation requirements.
  • Determine whether standard mileage or actual vehicle expenses should be claimed.
  • Determine eligibility for a deduction for business use of the home.
Other Details

Instructor: Regina Duran
Level: Basic
Prerequisites: None
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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ITIN – Taught in Spanish

The course focuses on understanding and obtaining the ability to utilize the basics about what an ITIN is, what it is used for and who needs it. Qualifications, needed documentation and solicitation process for the number are some of the things that will be targeted. We will revise the exemptions and preparation of form W-7 as well as the process to become an acceptance agent.

Objectives
  • Explain what an ITIN is and what it is used for.
  • Determine who needs an ITIN.
  • Walk through how and when to apply for an ITIN.
  • Identify resources if you have questions regarding an ITIN application.
  • Define a tax exemption and the amounts.
  • Explain how to claim tax exemptions.
  • Explain the steps to become an Acceptance Agent for ITIN numbers.
Other Details

Instructor: Regina Duran
Level: Basic
Prerequisites: None
# of CPE: 1 (50 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Introduction to Schedule C – Taught in Spanish

This course is designed to help tax professionals who are new to sole proprietorship tax preparation. It focuses on Sole Proprietor Income Tax Reporting, the types of income and deductible business expenses. Also, covered are the topics of business vehicle use and business use of home for tax reporting.

Objectives
  • Determine whether a taxpayer’s activity is a hobby or a for-profit business venture.
  • Identify types of income reported on Schedule C.
  • Identify deductible business expenses reported on Schedule C.
  • Determine the business use of a vehicle.
  • Determine whether standard mileage or actual vehicle expenses should be claimed.
  • Determine eligibility for a deduction for business use of the home.
Other Details

Instructor: Regina Duran
Level: Basic
Prerequisites: None
# of CPE: 1 (50 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Updates for 2018 – Taught in Spanish

This course will analyze, review and discuss the most important changes made in the 2018 tax reform Tax Cuts and Jobs Act that will affect individual and business taxpayers.

Objectives
  • Explain what is Tax Cuts and Jobs Act Tax Reform.
  • Discuss the updates for Standard Deductions.
  • Review the new Income Tax Rates.
  • Analyze the changes made to Child Tax Credit
  • Consider the Limitations in Itemized Deductions.
  • Examine the contribution limits for retirement savings as well as for IRAs.
  • Discuss the reform changes that affect Corporation planning.
  • Review the reform changes that affect Pass-Through Entities.
  • Analyze bonus depreciation and how it will affect businesses.
Other Details

Instructor: Regina Duran
Level: Update
Prerequisites: Basic knowledge of federal income taxation
# of CPE: 2 (100 minutes)
Sponsor & Field of Study: IRS - Federal Tax Law Topic; CTEC - Federal Tax Law Topic; NASBA - Taxes

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Participation in these sessions does not require any advanced preparation unless stated. Delivery Method: Group Live

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