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
Understanding Unrelated Business Taxable Income (LITX38)
Do you know when an entity exempt from income tax is not really exempt from income tax? Come and find out. Discussion Leader: Bill Strickland
