The Tax Cuts and Jobs Act (TCJA) ushered in massive changes for US based multinationals. Pass-through entities saw significant changes in the treatment of foreign income and activity which is giving rise to planning and compliance challenges. This session with take a practical look at international pass-through entities and the ramifications of the post TCJA regulatory changes. We will discuss the adoption of the aggregate theory for U.S. partnership owned CFC’s and the related tax considerations including tax basis adjustments, treatment of previously taxes income and the CFC/PFIC overlap rules. While additional guidance on several of these matters is almost certain in the future, taxpayers facing current planning and compliance challenges must navigate the complexity while managing risk without guidance in several key areas.

This session will provide an in-depth review of the obvious and less than obvious tax provisions enacted as part of the flurry of legislation since July, identifying the important provisions that were "left on the shelf" in hopes of future enactment. What are the chances for change in the lame-duck session, or in near future years? What are the most important big ideas, and what are the chances of their becoming tax law in the future?

A review of the most important legal, tax and financial topics facing your senior clients and their families today including planning for incapacity, estate distribution and long term care financing.

Tax Season 2023 will be here before you know it, but there are still opportunities to prepare for improvement. In this session, we will brainstorm strategies you can put in place in the next few months that will set you and your firm up for success. Constant change is a given in the tax world and we want to help you make the best use of the resources you have available. 

The Internal Revenue Service designed Schedule K-2/K-3 to enhance the reporting of international activities for owners of passthrough entities.  The Form is required to be filed by most partnerships for tax years beginning in 2022.  This session will discuss the K-2/K-3 reporting requirements and how the increased compliance burden is impacting passthrough's filing requirements.   This session will also cover the common issues encountered when completing the forms along with suggestions for improving compliance.

This session reviews the origins of Family Offices in the United States; the current regulatory structure(s) that support high net worth and ultra-high net worth families; and the services provided to those families. During this presentation, participants will be provided with practical advice and high-level tax guidance in the design and implementation of a family office as well as establishing, and working with, collaborative teams. A case study will be reviewed illustrating the various stages of the development of a family office.

Topics covered will include charitable tax planning, family limited liability companies, family limited liability partnerships, family social media policies, grantor and non-grantor trusts, philanthropy, qualified plan design, risk management and insurance, trust reformation, and wealth management.

Assist your small business owner clients with their largest personal balance sheet asset - their business.

Social media tax "experts" have creeped into your client's inbox/DMs/social media feeds. With the proliferation of social media tax "experts", clients are often misled or fed a false narrative about a tax planning opportunity that does not actually exist. Clients used to come to us with "my neighbor says I can deduct my hunting camp because his CPA lets him deduct his hunting camp". Now, the clients come to us with "I saw this video on social media about how to move to Puerto Rico and pay zero US taxes...how come you never told me about this". This session will explore the dark side of the "tax experts" on social media and debunk the tax myths conveyed by these "experts".

US citizens and residents are required to report their ownership and interests in various foreign assets to the IRS. In this session, we will discuss general reporting requirements and highlight IRS activity related to certain information returns.

CPAs providing tax services are subject to a myriad of rules and standards when servicing their clients in the everchanging subject of taxation. Join us for a discussion with real-world scenarios of the various standards that tax practitioners need to adhere to including Treasury Department Circular No. 230, the AICPA’s Statements on Standards for Tax Services (SSTSs) and the Code of Professional Conduct. Hear about the upcoming revisions to Circular No. 230 and the SSTSs, what is changing and when these new standards will become effective.