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Las Vegas Forum Sessions

All Sessions

AMT and MTC – What You Need to Know

Many tax professionals struggle with calculating clients’ alternative minimum tax (AMT) and minimum tax credit (MTC). In this session, we will review the AMT and MTC, identify common triggers and learn how to calculate each.

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Objectives
  • Define AMT.
  • List AMT adjustments and preference items.
  • Correctly calculate AMT.
  • Identify common triggers for AMT.
  • Define the MTC.
  • Identify when the MTC is available to taxpayers.
  • Correctly calculate the MTC.
Other Details

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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Clearing a PATH: EIC, AOTC and CTC Due Diligence Requirements

With the recent PATH Act due diligence requirements in place, it’s vital to know all the rules to safeguard yourself, your practice and your clients. In this session, we’ll review the new due diligence requirements to claim the earned income tax credit (EITC), American opportunity tax credit (AOTC) and child tax credit (CTC). We will also review the preparer penalties associated with the PATH Act.

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Objectives
  • Describe the PATH Act due diligence requirements for the EITC.
  • Describe the PATH Act due diligence requirements for the AOTC.
  • Describe the PATH Act due diligence requirements for the CTC.
  • Identify the taxpayer penalties associated with the EIC, AOTC and CTC.
  • Identify the preparer penalties associated with the EIC, AOTC and CTC.
Other Details

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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Current Developments - Business

This dynamic session covers new tax legislation, recent developments and expiring provisions that affect small businesses. Attend to learn tax-saving strategies to enhance your clients' businesses.

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Objectives
  • Identify new tax law and developments.
  • Apply the new tax law and developments to the appropriate tax forms.
  • Identify the tax provisions that are set to expire at the end of the year.
  • Identify any recently extended tax law provisions.
Other Details

Level: Update
Kathryn Keane, EA 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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Current Developments – Individuals

Congress is continually enacting new tax legislation into law. This dynamic session covers new tax legislation, recent developments and expiring provisions that affect your individual clients.

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Objectives
  • Identify new tax law and developments.
  • Apply the new tax laws and developments to the appropriate tax forms.
  • Identify the tax provisions that are set to expire at the end of the year.
  • Identify any recently extended tax law provisions.
Other Details

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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Depreciation

Many, if not all, businesses purchase assets that are used in their trade or business. The cost of these assets is recovered through depreciation, an annual allowance for the wear and tear, deterioration or obsolescence of the asset. This session will help you understand the general tax depreciation rules and how to apply those rules to your clients.

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Objectives
  • Identify depreciable property.
  • Distinguish methods of depreciation.
  • Select the correct method of depreciation for an asset.
  • Determine the class life of an asset.
  • Summarize the special rules for listed assets.
  • Summarize the special rules for depreciation of vehicles.
Other Details

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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Determining Your Tax Home

Employees can take a deduction for travel expenses for work, but only if they are away from "home." In this session, you'll learn the definition of "tax home" and how to apply it to your clients' situations.

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Objectives
  • Identify the factors that determine tax home.
  • Determine a taxpayer's regular place of business.
  • Determine a taxpayer's place of abode.
  • Distinguish taxpayers who do not have a tax home.
  • Analyze a taxpayer’s tax home using client scenarios.
Other Details

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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General Business Credits

If you have business clients, this is a great seminar for you. Learn about the general business credits available to your clients, how to calculate these credits, the limits that they have and the carryforward and carryback rules. Help your business clients get the best tax result possible.

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Objectives
  • Identify the general business credits.
  • Distinguish an eligible small business.
  • Correctly calculate current year credits.
  • Accurately calculate limits on general business credits.
  • Outline the credit ordering rules.
  • Correctly calculate carryforwards and carrybacks.
Other Details

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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Guiding Your Clients With In-Home Day Care Businesses

If you have clients who run in-home day care businesses, this session is for you! You'll learn about entity selection to help your clients determine which type of business entity is best for them, the special rules for business use of home and food expenses and how to complete the information forms that your clients must provide to their customers.

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Objectives
  • Identify day care businesses.
  • Evaluate the types of entities available for day care providers.
  • Identify recordkeeping requirements.
  • Calculate business use of home expenses for in-home day care providers.
  • Calculate expenses for food for family day care providers.
  • Correctly report income from in-home day care providers.
  • Accurately complete Form W-10, Dependent Care Provider's Identification and Certification.
Other Details

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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Helping Your Clients Through IRS Delinquencies

Your client calls in a panic. They received a notice from the IRS saying they owe back taxes. How can you help them settle with the IRS? This session walks you through the different options to help your clients deal with tax delinquencies. It covers offers in compromise (OICs), online payment agreements (OPAs) and installment agreements. Help your clients understand their rights while clearing up tax debts.

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Objectives
  • Identify the various ways to pay delinquent taxes.
  • Define the requirements for an OIC.
  • List the requirements for online payment agreements.
  • Summarize the requirements for installment agreements.
  • List the steps to apply for payment alternatives.
  • Identify the rights that taxpayers have during the process of resolving delinquencies.
Other Details

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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House Flipping – Dealer vs. Investor

Flipping real estate is growing in popularity. If you have clients who buy and sell real estate, this session is for you. Learn about the tax consequences of buying and selling real estate.

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Objectives
  • Identify the tax effects of buying and selling real estate.
  • Define an investor.
  • Define a dealer.
  • Distinguish between the tax consequences of being an investor vs. a dealer.
  • Correctly identify whether a taxpayer is considered a dealer in real estate.
Other Details

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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HSAs and HRAs

More and more employers are offering high deductible health plans (HDHPs), which allow for contributions to health savings accounts (HSAs). In this session, you’ll learn the rules regarding contributions to and distributions from HSAs. In addition, some employers may offer health reimbursement arrangements (HRAs)—learn how these coordinate with health insurance under the Affordable Care Act (ACA). Make sure you’re able to properly advise your clients on this tricky topic!

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Objectives
  • List the requirements to qualify for an HSA.
  • Calculate the contribution limits for an HSA.
  • Identify qualified medical expenses for an HSA.
  • Correctly report HSA contributions and distributions on Form 8889.
  • Define an HRA.
  • Identify integrated and nonintegrated HRAs.
  • List the requirements for an HRA.
  • Correctly report HRA distributions.
Other Details

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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Income Subject to Self-Employment Tax

Self-employed taxpayers must pay an additional tax. Learn who’s required to pay this tax, how to calculate it and what income can be excluded. Help your self-employed clients navigate through the weeds of self-employment taxes by attending this session.

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Objectives
  • Define self-employment income.
  • Identify who must pay self-employment tax.
  • Correctly calculate the self-employment tax.
  • Correctly calculate the self-employment tax deduction.
  • Identify income excluded from self-employment income.
Other Details

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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Like-Kind Exchanges

A like-kind exchange is a powerful tool taxpayers can use to defer gain recognition from the sale of property. However, like-kind exchanges can be complex transactions and are not as simple as they appear. This session will help you provide the proper information to your clients engaging in like-kind exchange transactions.

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Objectives
  • Describe the rules of §1031 exchanges.
  • Identify eligible property for a like-kind exchange.
  • Summarize the rules for identifying replacement property.
  • Identify transactions that meet the requirements of §1031.
  • Correctly calculate any gain or loss associated with a partial §1031 transaction.
  • Correctly report §1031 transactions.
Other Details

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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Navigating Stock Options

Puts and calls, ESOP, ISO—what does it all mean? The world of stock options has a language all its own and it’s important to be well-versed so you can properly advise your clients. Attend this session to gain an understanding of stock options.

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Objectives
  • Define stock options.
  • Classify basis stock options.
  • Correctly calculate income from basic stock options.
  • Correctly report stock option transactions.
  • Correctly calculate income associated with the grant, vesting and exercise of employee stock options.
  • Correctly report employee stock options transactions.
Other Details

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 Investment Income Tax

The Net Investment Income Tax (NIIT) can be a pitfall for high income clients. In this session, you will learn who must pay the net investment income tax, how to calculate it and ways to minimize the amount your clients owe. Don't miss this opportunity to help your clients navigate NIIT.

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Objectives
  • Define the NIIT.
  • Identify taxpayers who must pay the NIIT.
  • List types of NIIT.
  • Identify thresholds for NIIT.
  • Identify thresholds for modified adjusted gross income.
  • Correctly calculate NIIT.
  • Identify ways to minimize net investment income tax.
Other Details

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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Real World Ethics

With preparer penalties being assessed, following your due diligence requirements is a vital part of preparing taxes. To properly follow protocol, you must keep in mind tax law, due diligence, best practices and ethical behavior. This session addresses the ethical dilemmas tax professionals face, tips on how to approach clients and safeguards to implement in your tax office.

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Objectives
  • Apply ethics rules as they relate to the real-world tax office.
  • Summarize how to handle real-life situations that emphasize due diligence.
  • Implement best practices to ensure compliance with tax law and due diligence.
Other Details

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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Roth IRA – Recharacterizations, Conversions, Distributions

Roth IRAs are a popular retirement vehicle. In this session, you'll learn about Roth IRAs, the contributions, distributions and other transactions that are available to your clients. You'll learn about conversions and recharacterizations, as well as the RMDs and ordering rules for distributions. You'll also learn about the penalties associated with excess contributions or nonqualified distributions.

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Objectives
  • Define Roth IRAs.
  • Identify contribution limits.
  • Calculate excess contribution penalties.
  • Summarize the requirements for a conversion from a traditional IRA to a Roth IRA.
  • Describe the requirements for a recharacterization of an IRA contribution.
  • Define qualified distributions from Roth IRAs.
  • Describe the five-year period for Roth IRAs.
  • Identify nonqualified distributions from a Roth IRA.
  • Apply the required minimum distribution (RMD) rule to Roth IRAs.
  • Apply the ordering rules for distributions from converted Roth IRAs.
Other Details

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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Sale of Business Assets

When selling a business asset, it’s essential to properly calculate the different tax ramifications of recapture, nonrecapture and unrecaptured gain. In this session, learn the calculation methodology used on Form 4797 and tips and tricks for verifying proper calculations.

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Objectives
  • Identify transactions that require the filing of Form 4797.
  • Correctly report simple transactions on Form 4797.
  • Identify when a taxpayer is required to recapture depreciation.
  • Correctly calculate recapture, nonrecapture and unrecaptured gain.
  • Define installment sales.
  • Correctly report an installment sale of a business asset.
Other Details

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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Schedule D Form 8949

How much information do you need to report from capital transactions? In this session, you’ll learn how to report capital transactions of all types.

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Objectives
  • Identify capital transactions.
  • Differentiate between realized gain and recognized gain.
  • Identify capital gains rates.
  • Correctly calculate adjusted basis.
  • Determine holding periods for assets.
  • Identify covered and noncovered securities.
  • Correctly report sales of capital assets on Forms 8949 and Schedule D.
Other Details

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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Schedule E

Schedule E is used to report clients’ supplemental income and loss. So, what is that, exactly? In this session, we’ll review income and loss from rental real estate, royalties, partnerships, S corporations, estates and trusts and real estate mortgage investment conduits (REMICs). Help your clients report their income correctly by attending this session.

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Objectives
  • Identify taxpayers who must file Schedule E.
  • Correctly report income and loss from rental real estate.
  • Correctly report royalty income.
  • Accurately report partnership and S corporation income and loss on Schedule E.
  • Accurately report estate and trust income and loss on Schedule E.
  • Accurately report income and loss from REMICs.
  • Identify taxpayers who meet exceptions for farmers, fishermen or real estate professionals.
  • Correctly transfer income from Schedule E to Form 1040.
Other Details

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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Sharing Economy

With the increase in internet commerce, more and more clients will have income from the new sharing economy: Lyft, Uber, TaskRabbit, Airbnb and others. Learn how to account for income and expenses from these sources, and evaluate whether a taxpayer is considered an employee or independent contractor, and how that affects their tax life.

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Objectives
  • Define the sharing economy.
  • Identify income from the sharing economy.
  • Identify expenses from the sharing economy.
  • Categorize taxpayers as employees or independent contractors.
  • Report income and expenses from sharing economy activities.
Other Details

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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Social Security, Railroad Retirement, and Lump Sum Election

The taxability of social security benefits and railroad retirement benefits is complicated, but these are important topics to know as you advise your clients. In this session, you'll learn how to report social security benefit income and railroad retirement benefits, as well as the implications of electing a lump-sum distribution.

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Objectives
  • Identify social security income and railroad retirement income.
  • Correctly calculate taxable income from social security.
  • Correctly calculate taxable income from railroad retirement.
  • Accurately report income from social security and railroad retirement.
  • Describe the effect of the election to report under the lump-sum election method.
  • Correctly analyze when to make the lump-sum election.
  • Correctly calculate the tax when there is a repayment of social security or railroad retirement benefits.
Other Details

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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Tips for Tipped Employees

Do you have clients who receive tips? In this session, we will review the rules about reporting tip income. You will learn what tip income must be reported and to whom. You'll also learn about special situations, including withholding in excess of wage income and allocated tips, and what penalties can be assessed if your clients do not correctly report tip income.

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Objectives
  • Identify reportable income for tipped employees.
  • Identify income that must be reported to employers.
  • Identify IRS programs to help employers and employees meet their reporting obligations.
  • Differentiate between tips that are subject to withholding and those that are not.
  • Justify use to Form 4070A, Employee's Daily Record of Tips.
  • Correctly report tip income on a client's Form 1040.
  • Correctly calculate penalties for failure to report tips.
Other Details

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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Trust Reporting

Trusts are used for a variety of different tax and estate planning purposes. While tax professionals cannot directly establish trusts for their clients, they are an integral part of the team serving the client and must have a basic understanding of trusts to best serve their clients. In this session, we’ll focus on the types of trusts, and how to report income, deductions and distributions.

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Objectives
  • List the most common types of trusts.
  • Distinguish between grantor trusts and nongrantor trusts.
  • Distinguish between simple and complex trusts.
  • Describe taxation of trusts.
  • Correctly identify the methods of reporting income and loss in grantor trusts.
  • Correctly report income and loss from a nongrantor trust.
Other Details

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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