Virtual Seminar Topics

2024 Fall Topical Income Tax Update (see details below):

  1. 2024 Tax Legislation – Overview of New Tax Law
  2. Notice 2024-35 RMDs
  3. Tax Law Topics    
  4. Form 709 – Gift Tax
  5. IRS Notices & Drafting a Response
  6. Ethics
  7. Security Plan for Your Tax Practice
  8. Ask the Expert

2024 Year-End Income Tax Update (see details below):

  1. 2024 Federal Tax Law Updates – Corporate Transparency Act / RMDs
  2. Estate, Gift, and Trust
  3. S Corporation (Form 7203) & Partnership Basis & BBA Issues
  4. Ethics
  5. Virtual Currency / 1099 DA
  6. Tax Implications of House Flipping
  7. Preparing for the 2025 Tax Season
  8. Ask the Expert

2024 Fall Topical Income Tax Update Details

Overview of New Tax Law: Updates – Let’s kick off with an overview of IRS rulings and pronouncements as well as any new laws enacted in 2023. We’ll review recent tax law changes and how they may affect individuals and businesses. Topics may include changes to deductions, credits, tax rates, and more.

Notice 2024-35 RMDs – This session offers crucial insights into the latest IRS guidelines and compliance requirements. Led by seasoned tax professionals, the seminar will delve into the specifics of RMD calculations, deadlines, and reporting obligations introduced by the new notice. Attendees will gain practical knowledge to ensure accurate and timely adherence to the updated RMD rules, minimizing potential penalties and optimizing tax strategies.

Tax Law Topics – Let us help you navigate some very significant and complex tax issues facing your clients. Attendees will explore topics such as Medicare Waiver Payments, Code J on Form W-2, Rev. Proc 2011-11, and much more. We’ll cover common mistakes and misconceptions related to these issues, as well as best practices for mitigating risks and maximizing benefits for clients. By the end of the seminar, attendees will be equipped with practical guidance and valuable insights to enhance their tax practice and better serve their clients.

Form 709 – Gift Tax – This session provides a detailed overview of the gift tax filing requirements and regulations. Expert tax professionals will guide attendees through the complexities of reporting gifts, understanding exclusions, and calculating liabilities. Participants will learn best practices for accurate and compliant filing of Form 709, ensuring they effectively manage their gift tax obligations.

IRS Notices & Drafting a Response – Let’s use a case study for IRS Notices and Drafting a Response. Attendees will benefit from expert guidance on interpreting notices and crafting effective responses, complemented by a real-life case study to illustrate best practices. This hands-on approach ensures participants gain practical skills to manage IRS communications confidently and efficiently.

Ethics – This ethics class is designed specifically for tax professionals and covers the various ethical challenges that may arise in the tax industry. Through case studies and real-world scenarios, attendees will explore issues such as conflicts of interest, confidentiality, and professional responsibility. The class will provide practical guidance on how to navigate ethical dilemmas and maintain the highest standards of integrity in their tax practice.

Security Plan for Your Tax Practice – Do you know how to safeguard client data against cyber threats and breaches? We will provide actionable insights into creating and implementing robust security measures tailored for tax practices. Attendees will learn best practices for data protection, regulatory compliance, and risk management to ensure the integrity and confidentiality of sensitive information.

2024 Year-end Income Tax Update Details

Federal Tax Law Updates:  Corporate Transparency Act / RMDs – Let us provide you with an overview of new and proposed legislation, significant cases, IRS rulings and pronouncements. We’ll provide a comprehensive exploration of this significant legislation’s impact on businesses and tax reporting requirements. Attendees will gain a thorough understanding of the Act’s provisions, compliance obligations, and potential consequences of non-compliance. Speakers will also address strategies for ensuring compliance with the CTA and RMDs.

Estate, Gift, and Trust – We will review the complex tax rules and strategies associated with estate planning, gifting, and trust management. Led by seasoned tax and estate planning professionals, the seminar will cover key topics including tax implications, compliance requirements, and effective planning techniques to optimize asset transfer and minimize tax liabilities. Attendees will gain practical knowledge to advise clients on creating tax-efficient estate and trust plans, ensuring both compliance and financial benefits. 

S corporation (Form 7203) & Partnership Basis & BBA Issues – This session offers in-depth guidance on navigating the complexities of basis calculations and compliance under the Bipartisan Budget Act (BBA). Expert tax professionals will lead sessions on accurately completing Form 7203, managing partnership basis adjustments, and understanding the implications of BBA audit rules. Attendees will gain practical skills and strategies to ensure precise reporting and compliance, thereby minimizing risks and optimizing tax outcomes for S corporations and partnerships.

Ethics – This ethics class is designed specifically for tax professionals and covers the various ethical challenges that may arise in the tax industry. Through case studies and real-world scenarios, attendees will explore issues such as conflicts of interest, confidentiality, and professional responsibility. The class will provide practical guidance on how to navigate ethical dilemmas and maintain the highest standards of integrity in their tax practice.

Virtual Currency / 1099 DA – This session provides crucial insights into the evolving tax landscape for digital assets. We will guide attendees through the reporting requirements, tax implications, and compliance challenges associated with virtual currency transactions. Participants will learn best practices for accurately completing Form 1099-DA and ensuring compliance with IRS guidelines in the rapidly changing realm of digital currencies.                                 

Tax Implications of House Flipping – This session offers vital information for real estate investors on the tax considerations and obligations of flipping properties. We will cover topics such as capital gains, ordinary income treatment, and deductible expenses. Attendees will gain practical knowledge to optimize their tax strategies and ensure compliance while maximizing their investment returns in the house-flipping business. 

Preparing for the 2025 Tax Season / Ask the Expert – As we approach the 2025 tax season we want to prepare as much as we can for what we might face. We hope for a lively discussion of changes in forms and issues which are of value to the whole audience. Ask the expert panel and we will do our best to address your questions

* Ohio CPAs: Each seminar is approved for 8 hours of CPE including 1 hour of professional standards and responsibilities for all CPAs who have already taken the mandatory 3-hour professional standards and responsibilities course. Ohio’s Accountancy Board requires that CPAs attend a special 3-hour professional standards and responsibilities course before an Ohio CPA can renew their initial license. Those who have not yet taken the mandatory course will receive 8 hours of CPE in taxation.

* Attorneys: The CLE commissions in Iowa, Illinois, Ohio, and Pennsylvania have approved our virtual seminars as follows: Iowa 7.25 per 8-hour seminar, no Ethics. Illinois 7.5 hours per 8-hour seminar including 1 hour of Ethics. Ohio 7.5 per 8-hour seminar, no Ethics. Pennsylvania 8 CLE hours per 8-hour seminar including 1 hour of Ethics.

* CFPs: Although Certified Financial Planners will receive 8-hours of CE credit for attending each of our seminars, none of the hours will qualify for CFP ethics credit.