Tax Return Positions (LITX07/23)
Discuss levels of confidence and acceptable documentation for tax return positions. Mistakes can add significant penalties to tax liabilities. Discussion Leaders: E. Lynn Nichols and Ian Redpath
PTET aka Active Trade or Business Income for Electing Partnerships and S Corporations (LITX39/23)
When should a pass-through entity elect to pay tax at the entity level? Is it a good idea or not? Discussion Leader: J.W. “Bill” Strickland
Debt Forgiveness and Foreclosures – Income Tax Planning and Compliance (LITX06/23, LITX19/23)
Foreclosures, short saves, re-negotiated debt…All can result in taxable income if not properly planned and executed. Recent economic roller coaster has created more debt adjustments than anytime in history. Discussion Leader: E. Lynn Nichols
Remote Seller Sales Tax Update (LITX05/23)
Sales tax is consistently evolving and the need for a basic understanding of sales tax strategy is more important than ever. Discussion Leader: Michael Fleming
Income Tax Accounting for Partnerships and Partners- Part Two (LITX04/23)
Part 2 (of this two part course) focuses on the effect on a partner (or LLC member) and partnership (including an LLC taxed as a partnership) of the purchase and sale of a partnership interest.
A discussion will be held under the BBA (Centralized Partnership Audit Rules (CPAR)) Partnership Rules as to when a partnership itself may be income taxable and partners may be liable for partnership level tax for a time period prior to the time they joined the partnership (and how to prevent such a travesty). Discussion Leaders: Brad Burnett & E. Lynn Nichols
The Essential Multistate Tax Update (NEXUS) (LITX02/23)
Learn how the landscape for NEXUS is rapidly changing for different types of taxes, especially sales and income. Discussion Leader: JW “Bill” Strickland
Employee Stock Plans – RSU, ESPP, ISO, and NQSO (LITX03/23)
Learn about the tax and financial planning consequences of employer stock, learn how to read a stock agreement, Understand the tax calculations when employer stock is sold, be able to give the best advice to your clients with their employer stock. Discussion Leader: Larry Pon
Income Tax Accounting for Partnerships and Partners (LITX01/23, LITX21/23)
Part 1 (of this two-part course) focuses on a partner (or LLC member) entering into a partnership (including an LLC taxed as a partnership) and capital accounts and basis. Both book and tax capital accounts will be discussed along with both inside tax basis in partnership assets and outside basis of a partner in his, her or its partnership interest. Discussion Leaders: Bradley Burnett and E. Lynn Nichols
Form 990: Mastering Its Unique Characteristics: Do You Really Understand What the IRS is Looking For? (LITX37/22)
Form 990 is more than reporting financial information in tax return format. The Form is loaded with informational queries that improperly answered can cause your client trouble. Discussion Leader: Bill Strickland