Income Tax Webinar Topics

2018 – 2019 Tax Webinar Topics

  1. 2018 Year-End Tax Update
  2. 2018 Fall Income Tax Update
  3. Tax Reform Legislation Part 1: Business Impact
  4. Tax Reform Legislation Part 2: Individual Impact
  5. Tax Reform Legislation Part 3: Employer Impact
  6. “A Change is Gonna Come” §199A The 20% QBI Deduction Part 1
  7. “A Change is Gonna Come” §199A The 20% QBI Deduction Part 2
  8. “A Change is Gonna Come” §199A The 20% QBI Deduction Part 3
  9. “Welcome to the Matrix” Cybercrime & the Impact on Federal Taxes and Methods to Protect Your Office
  10. “Reunited and It Feels So Good” Reconstruction of Records for Tax Compliance
  11. “You Can’t Take It with You” Decedent and Estate Tax
  12. “The Proof is in the Pudding” IRS Penalty Abatement – Reasonable Cause
  13. “Pinball Wizard” Hobby Loss
  14. “Should I Stay or Should I Go?” S Corporation vs. C Corporation & Reasonable Compensation
  15. “Do the Right Thing” Ethics Part 1: General
  16. “Do the Right Thing” Ethics Part 2: Due Diligence Responsibilities
  17. “Promises, Promises” Employee vs. Independent Contractor – Volunteer Classification Settlement Program (VCSP)
  18. “Go on, Take the Money and Run” The Sale of Business Assets: Navigating Form 4797
  19. “You Can’t Always Get What You Want” Installment Agreements & Offers in Compromise
  20. “The Art of Deduction” Changes in Accounting Methods & Business Deductions Part 1
  21. “The Art of Deduction” Changes in Accounting Methods & Business Deductions Part 2
  22. “Runnin’ Down a Dream” Retirement Plans Part 1: Planning
  23. “Leaving on a Jet Plane” Retirement Plans Part 2: Distributions

2018 – 2019 Tax Webinar Details

2018 Year-End Income Tax Update: Can’t make it to our live in-person seminars? We are live-streaming our Year-End seminar on 12/11/18 for an 8 hour event.  You will receive a 250+ page electronic textbook for the session. Topics include: 2018 Income Tax Legislation: Let us provide you with an overview of new and proposed legislation, significant cases, IRS rulings and pronouncements, State Tax Updates: Each Part II Seminar includes a review of state law and form changes for Illinois, Iowa, Nebraska, Ohio, Pennsylvania or South Dakota, Form 1040 – The Impact of the Tax Cuts and Jobs Act Line by Line Analysis: Our thorough “Form 1040 & Beyond” review of up-to-the-minute tax law and IRS form changes for 2018 will include line-by-line explanations and analysis of troublesome areas. Our review will be fully integrated with any 2018 tax law changes. The seminar includes many practical and useful illustrations to have you “up and running” for next year’s tax season and ready to answer your clients’ questions about the new tax laws, Ethics – The Tax Professional’s Disciplinary Standards: Today, every tax professional faces rapidly expanding ethical responsibilities as courts and governmental agencies challenge the nature of traditional client relationships. With special emphasis on the disciplinary standards, we’ll look at how professional associations and licensing boards are modifying professional standards and how those changes impact tax preparation and tax planning. We’ll examine recent IRS and Congressional proposals to direct the tax professional’s focus toward client compliance and how these proposals are likely to impact tax avoidance planning. We’ll also look at a number of other ethical issues facing our profession. This segment is directly related to your professional responsibilities and includes materials taken from the ABA Model Rules, as well as other disciplinary standards and rules established for attorneys, certified public accountants, enrolled agents, and certified financial planners, What’s Exciting, New, and Old with Partnerships: Audit Rules and Regulations, Agreements, Hot Assets, & 199A 20% Example: Beginning in 2018, how IRS audits partnership returns changes and your clients have choices to make to prepare for the new Partnership Audit Regime.  Which elections to be made, agreements may need to be changed and timeframes will be defined. Audits may not start until 2019, but your client will be making choices that will impact future audits. IRC §751 was created to address certain types of assets during a partnership liquidation. We will review this potentially very complicated process with examples, IRC Section 199A issues relating to S Corporations, Reasonable Compensation, and Sole Proprietorships: How will the IRS evaluate reasonable compensation in light of §199A?  Will S Corporations and Partnerships both be under the IRS microscope for reasonable compensation? Updates on 199A changes: As the year progresses, we will present you with any new developments regarding 199A changes. CPE Credit/CE Hours: 8 including (Federal Tax Law Update: 4, Federal Tax Law & Regs: 3 & Ethics: 1)

2018 Fall Income Tax Update: Can’t make it to our live in-person seminars? We are live-streaming our Fall seminar on 9/18/18 for an 8 hour event.  You will receive a 250+ page electronic textbook for the session. Topics include: 2018 Tax Legislation–Overview: Let us provide you with an overview of new and proposed legislation, significant cases, IRS rulings and pronouncements, Depreciation & Sale of Business Property: Form 4797: This section will focus on pro-taxpayer provisions in the tax law allowing us to shorten depreciable lives.  Learn about opportunities presented in IRS pronouncements and case law,  Tax Cuts and Jobs Act: What the Practitioner Needs to Know: The Tax Cuts and Jobs Act made changes that will impact individuals, employers and businesses. Get the current scoop on what changed and the impact of the new law as it relates to taxes, Ethics and the Tax Client: During the past several years, news rules have been adopted or proposed that impact how we interact with our clients. This segment will provide a look at the latest IRS regulations and changes to professional standards, 199A The New 20% DeductionAs a result of the Tax Cuts & Job Act, the Qualified Business Income (QBI) deduction allows individuals a §199A deduction of up to 20% against income from passthrough businesses (partnerships, LLC’s treated as partnerships of S Corporations, S corporations, and sole proprietorships) for tax years between 2018 and 2025. We will provide you with a thorough review of the new 20% deduction as well as some detailed examples, Decedent, Estates, Form 1041 and Final Form 1040, and Methods of Accounting Changes: Form 3115. CPE Credit/CE Hours: 8 including (Federal Tax Law Update: 4, Federal Tax Law & Regs: 3 & Ethics: 1)

Tax Reform Legislation Part 1: Business: How will business owners be affected by the new tax plan? Will business taxes and personal tax rates increase or decrease for your clients? What happens to their deductions? We will discuss Pass-through income tax rates, tax deductions, stock options, and other factors that will affect your clients tax planning process. CPE Credit/CE Hour: 1

Tax Reform Legislation Part 2: Individuals: The Tax Cuts and Jobs Act make sweeping changes to individual income tax for 2018 and beyond. How will the new law impact your client base?  We will discuss Individual changes in the tax law and issues you will need to address with your clients in the current year when you meet to prepare the 2017 tax return. In addition, Reg. 137604-07 Definition of a Dependent will be covered, proposed procedural changes, released drafts for the 2018 tax year and available updates for the 2019 tax season. A great amount of territory will be covered to give you an up to the minute review and prepare you for the 2019 filing season. CPE Credit/CE Hour: 2

Tax Reform Legislation Part 3: Employers: How will the new law impact an employer? The Tax Cut and Jobs Act makes significant changes to employee benefits and their taxability.  In addition, certain tax benefits of employers were modified. Finally, with the changes in tax brackets and the many other individual changes, what does an employer need to be aware of to address questions from their employees? We will review the new Form W-4 and employer responsibilities, ACA penalty letters to employers, and changes to employer levy of wages. We will explore the question your client may ask, “Is it now better to be an independent contractor than an employee to take advantage of the 20% QBI deduction?” Join us as we review the changes and prepare your employers for 2018. As guidance is released the presentation will be updated. If you have clients with employees, this is a must attend event. CPE Credit/CE Hour: 2

“A Change is Gonna Come”  §199A The 20% QBI Deduction Part 1: The Tax Cuts and Jobs Act has made significant changes to tax accounting methods, especially for clients with average gross receipts of $25M or less.  This webinar will provide a last-minute review before filing season starts. Topics covered in Part 1 include: basic calculations and charts to assist in tax preparation, a definition of a specified service trade or business, the meaning of “reputation or skill” clause, and what qualifies business income. We will define terms you need to know, guide you on determining UBIA of Qualified Property and discuss W-2 Wages for the purposes of §199A. CPE Credit/CE Hour: 2

“A Change is Gonna Come”  §199A The 20% QBI Deduction Part 2: Expanding what we learned in Part 1, we will present like-kind exchanges and involuntary conversions related to QBID, other Nonrecognition Transactions, allocation of UBIA of Qualified Property by a Relevant Passthrough Entity (RPE),  special rules such as De minimis rule, Services or Property Provided to an SSTB and other issues related to QBI. CPE Credit/CE Hour: 2

“A Change is Gonna Come”  §199A The 20% QBI Deduction Part 3: Building on what we presented in Parts 1 & 2, this webinar will include several examples of appropriate applications of §199A  20% Qualified Business Income. We will work through many different examples to ensure you are prepared.   CPE Credit/CE Hour: 2

“Welcome to the Matrix” Cybercrime: The Impact on Federal Taxes and Methods to Protect Your Office: Do you have a plan in place if your business suffers a data breach? What needs to be in your data breach plan? Learn some of the things you can do to protect your client’s personal identifiable information and your business data. Be prepared for a cyber disaster, it may only be a click away. CPE Credit/CE Hour: 1

“Reunited and It Feels So Good” Reconstruction of Records for Tax ComplianceThis course will focus on working with clients who are non-filers or are challenged in the record keeping arena. Learn tips on how to reconstruct records from the source information available, or IRS sources.  Some areas where reconstruction of records is important include: state or federal tax audits, tax return preparation, civil or criminal investigations, including supporting claims of embezzlement, theft, elder financial abuse, insurance fraud, contract disputes, and misappropriation of assets, divorce–supporting or refuting claims that accounts and financial data have been altered or income and assets have been hidden, spousal and child support income calculations.  Our discussion will center on tax related issues. CPE Credit/CE Hour: 1

“You Can’t Take It with You” Decedent and Estate Tax: This course will present a definition of terms including income with regards to the decedent, filing dates, IRC § 454 regarding savings bonds, medical deductions, and separating income between the decedent and the estate. Why is it important to work with an attorney? What forms are required for certain income and expenses {1040, 1041, 706}. Who can file/sign the decedent return if no estate is open? What is the significance of IRC § 754 Step Up on decedent assets? What happens to the decedents capital losses? Join us for this important webinar on critical issues affecting the decedent. CPE Credit/CE Hour: 1

“The Proof is in the Pudding” IRS Penalty Abatement – Reasonable Cause: This course presents numerous topics within the subject of Reasonable Cause.  We will demonstrate how to navigate a first-time Abatement Program, using Form 843, Rev Procedure 84-35 (Partnership Returns), Written & Oral Advice from the IRS, advice from a tax professional or attorney, ordinary business care, lost or destroyed records, code, regulations, Internal Revenue Manual, and case law to support your reasonable cause position. Come join us for this indispensable webinar to assist your clients in their time of need. CPE Credit/CE Hour: 1

“Pinball Wizard” Hobby LossCan you distinguish between an Active Trade or Business and a Hobby? This is a subject that is gaining popularity in the tax community as we see an increase in litigation related to hobby loss. How might hobby loss rules apply to non-hobby activities and rental activity? What are some of the practical consequences? In addition, how has the hobby loss deduction for expenses changes for 2018 going forward? We will discuss the factors in establishing a profit motive and provide questions as well as a nine factor check list to use with clients. CPE Credit: 1

“Should I Stay or Should I Go?”: S Corporation vs. C Corporation & Reasonable Compensation: As a result of Tax Reform, many business owners are considering changing from an S Corp to a C Corp, or vice versa. Is this wise? What are the ramifications? What is reasonable compensation and how is it determined? What is the IRS position, the market approach, the most commonly used method favored by the courts, the income approach, and the cost approach – the least used method?  What are the forms of compensation and what type of benefits could be considered compensation? This issue is highly audited by the IRS and a review of that audit process will also be discussed.  Attendees should have basic knowledge of the S Corporation tax law. CPE Credit: 2

“Do the Right Thing” Part 1: Ethics for the Tax Professional: Today, every tax professional faces rapidly expanding ethical responsibilities as courts and governmental agencies challenge the nature of traditional client relationships. With special emphasis on the disciplinary standards, we’ll look at how professional associations and licensing boards are modifying professional standards and how those changes impact tax preparation and tax planning. We’ll examine recent IRS and Congressional proposals to direct the tax professional’s focus toward client compliance and how these proposals are likely to impact tax avoidance planning. CPE Credit: 1

“Do the Right Thing” Part 2: Ethics Due Diligence Responsibilities: In part 2 of this series, we will review §10.22 Due Diligence requirements under Circular 230, define due diligence responsibilities and the benefits, identify tips for meeting due diligence, and most importantly, the consequences of not meeting due diligence. CPE Credit: 1

“Promises, Promises” Employee vs. Independent Contractor – Voluntary Classification Settlement Program (VCSP): Save your client some money and headaches if you have repeatedly counseled them on the issue of employee vs. independent contractor. The Voluntary Classification Settlement Program may be the right choice to get your client into compliance with treating their workers as employees. Learn about the process, how to qualify for the program and examples of tax savings your client will benefit from.  Be the hero for your client and show them the ins and outs of this IRS program, and gain a new client for payroll taxes. CPE Credit: 1

“Go on, Take the Money and Run” The Sale of Business Assets: Navigating Form 4797: Put the pieces of the puzzle together as we walk you through the ins and outs of Form 4797 and what property needs to be reported. The §1231, §1250 and §1245 confusion will be clarified. CPE Credit: 1

“You Can’t Always Get What You Want” Installment Agreements & Offer in Compromise: Installment agreements are simple and easier to implement than ever before. But, there are several things to consider concerning the type of agreement, how to qualify and more importantly keeping the agreement in force. How can you provide your client with a fresh start? We will discuss issues concerning Offer in Compromise – an overview on types of OIC, payment options, and how to calculate an amount that the IRS will agree to. What deductions are allowed? Join this discussion on implementing installment agreements that your client can adhere to and at the same time stay in compliance. CPE Credit: 1

“The Art of Deduction” Changes in Accounting Methods & Business Deductions Part 1:  We will examine the impact of making a tax accounting method change under the Tax Cuts and Jobs Act, the significant method changes that will impact many clients in 2018.  Also, the Act has modified the treatment of certain business deductions, including depreciation and §179 expensing election.  We’ll explore the cost recovery provisions under the Act, including bonus depreciation, changes to depreciation for the agricultural industry, treatment of qualified improvement property and changes in the like-kind exchange provisions. CPE Credit: 1

“The Art of Deduction” Changes in Accounting Methods & Business Deductions Part 2: This webinar will continue the discussion of tax accounting method changes and the procedures for making such method changes and the Form 3115.  We will also review other business deductions changes under the Tax Cuts and Jobs Act, including the NOL deduction, deduction for net business interest, entertainment expense deduction changes and excess business loss disallowance rules. CPE Credit: 1

“Runnin’ Down a Dream” Retirement Plans Part 1: Planning: The prospects of setting up the right type of retirement plan for clients can be intimidating.  However, as professionals, we need to be adequately versed in helping our clients set up effective retirement plans.  We will explore the various types of retirement plans and discuss their suitability under various client situations.  The learning objective will be to assist professionals in identifying a retirement plan solution that meet the multi-faceted goals of the Plan sponsor as well as the Plan participants. We will explore the tax and planning aspects of our private and public retirement plan systems and  discuss qualified plan arrangements, choosing the right small business plan, Regular IRAs (tax deferred) and Roth IRAs. CPE Credit: 1

“Leaving on a Jet Plane” Retirement Plans Part 2: Distributions:  Now that we have provided our participants with a financial “nest egg” designed to provided for adequate retirement security, how do we maximize the benefit through effective distribution strategies?  This webinar will explore the various types of retirement plan distributions, the income tax and potential tax consequences for early distributions and review the various rules for required minimum distributions (RMDs).  Also, we will present you with the important operational issues, including correction procedures and plan termination considerations. Join us for more details. CPE Credit: 1

*All webinars are approved for 1 CPE credit/CE Hour per hour. Program Level: Basic Pre-requisite: Basic comprehension of taxation, no advanced preparation required. * CFPs: Although Certified Financial Planners will receive 1 hour of CE credit for attending each of our 2018 webinars, none of the hours will qualify for CFP ethics credit.

Webinar Schedule

November

Program TitleDelivery MethodCPE creditsDateTime (ET)Course NumberField(s) of StudyLevelPresenter
Form 3115 and the 20% 199A deduction  Group Internet Based211/8/182:00-4:00 PM ESTYH1DR-T-00071-18-OTaxesBasicLarry Johnson
Changes in Accounting Methods & Business Deductions Part 1  Group Internet Based111/13/182:00-3:00 PM ESTYH1DR-T-00078-18-OTaxesBasicMike Miranda
Changes in Accounting Methods & Business Deductions Part 2Group Internet Based111/14/182:00-3:00 PM ESTYH1DR-T-00079-18-OTaxesBasicMike Miranda
Decedent and Estate TaxGroup Internet Based111/15/182:00-3:00 PM ESTYH1DR-T-00056-17-OTaxesBasicLarry Johnson

December

Program TitleDelivery MethodCPE creditsDateTime (ET)Course NumberField(s) of StudyLevelPresenter
Installment Agreements and Offer in Compromise Group Internet Based112/5/182:00-3:00 PM ESTYH1DR-T-00070-18-OTaxesBasicMike Miranda
Year-End Tax Update LIVE STREAMGroup Internet Based812/11/189:00-5:00 PM ESTYH1DR-T-00086-18-I,-U-00085-18-I,-E-00087-18-ITaxesIntermediateLarry Johnson & Sheldon Clark
Ethics Part 1: GeneralGroup Internet Based112/12/182:00-3:00 PM ESTYH1DR-E-00064-17-OTaxesBasicKristy Maitre
Ethics Part 2: Due DilligenceGroup Internet Based112/17/182:00-3:00 PM ESTYH1DR-E-00074-18-OTaxesBasicKristy Maitre
IRS Penalty Abatement – Reasonable CauseGroup Internet Based112/18/182:00-3:00 PM ESTYH1DR-T-00058-17-OTaxesBasicAJ Reynolds

January

Program TitleDelivery MethodCPE creditsDateTime (ET)Course NumberField(s) of StudyLevelPresenter
§199A The 20% Qualified Business Income (QBI)Deduction: Part 1Group Internet Based21/8/20192:00-4:00 PM ESTYH1DR-T-00071-18-OTaxesBasicKristy Maitre
§199A The 20% Qualified Business Income (QBI)Deduction: Part 2Group Internet Based21/9/20192:00-4:00 PM ESTYH1DR-T-00071-18-OTaxesBasicKristy Maitre
§199A The 20% Qualified Business Income (QBI)Deduction: Part 3Group Internet Based21/10/20192:00-4:00 PM ESTYH1DR-E-00071-17-OTaxesBasicMichael Miranda

February

Program TitleDelivery MethodCPE creditsDateTime (ET)Course NumberField(s) of StudyLevelPresenter
Reconstruction of Records for Tax Compliance & Working with NonfilersGroup Internet Based22/13/20192:00-4:00 PM ESTYH1DR-T-00054-18-OTaxesBasicKristy Maitre
Electronic Filing Identification Number (EFIN), E-Services, PTIN’s and MoreGroup Internet Based12/21/20192:00-3:00 PM ESTYH1DR-T-00090-18-OTaxesBasicKristy Maitre

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