AICPA National Tax & Sophisticated Tax Conferences with Private Foundation Summit 2020


This includes sessions from the conference: AICPA National Tax & Sophisticated Tax Conferences with Private Foundation Summit 2020

Standard: $379.00

Products

Welcome and Keynote Presentation: Taxing Perspectives: Hindsight, Insight and Foresight

Preview Available

Welcome and Keynote Presentation: Taxing Perspectives: Hindsight, Insight and Foresight


Identification: NTSP2001

Joseph J. Thorndike is one of America's preeminent tax historians. How does the past foretell the future? What's next, after the election? In his words: "in fiscal policy, if necessity is the mother of invention, past experience is its father.” Together, tax law is born. He will explain how history can teach us the likely boundaries of change, although he speculates there can always be a tax Black Swan. What might that be? The success and failure of past proposals will provide you with insight into handicapping the likelihood of proposed changes, particularly nearly 2 weeks after our November national election, although like any horserace, the results can only be precisely predicted at the finish line.

Key topics include a discussion of --

  • how big tax ideas become law, or failed to become law,
  • the politics of income tax versus consumption tax (i.e. VAT), and
  • why “who pays the tax” matters: the true cause of past tax revolutions, beyond the price of tea, and what past revolutions could mean for our future.

Speaker(s):
Tags: CFP EA SOP NTA
Standard: $49.00

199A: To Reduce or Not Reduce Qualified Business Income Deduction

Preview Available

199A: To Reduce or Not Reduce Qualified Business Income Deduction


Identification: NTA2004

Tax law requires qualified business income to be reduced by certain such as the self-employed health insurance and deductible portion of the self-employment tax along with qualified retirement plan contributions.  However, the application of the law is not well settled as guidance is incomplete.  Learn about the current status of these important reductions as well as the current status of the impact of the aggregation rules by listening to practitioners and IRS representatives discuss the current state of these critical adjustments. 

Speaker(s):
  • Margaret Burow, J.D., LL.M. Taxation, Attorney, Office of Chief Counsel, Passthroughs & Special Industries, Internal Revenue Service
  • Troy Lewis, CPA, CGMA, Associate Teaching Professor, BYU
  • Amy Miller, CPA, Senior Manager, AICPA
Standard: $49.00

Planning for the Sale of Privately Held Businesses

Preview Available

Planning for the Sale of Privately Held Businesses


Identification: NTA2002

This session will explore various aspects of M&A transactions for privately held businesses focusing on common issues and opportunities faced by sellers of privately held businesses and steps that can be taken to mitigate tax gain and/or related exposures including Section 1202, negotiating seller gross ups, structuring for rollover deals with private equity buyers, minimization of state withholding on pass through entity sales, the application of Section 280G to sales of private businesses and mitigation steps, and planning for common closing date deductions in various deal scenarios.

Speaker(s):
Standard: $49.00

Key Rulings 2020/Individual Update

Preview Available

Key Rulings 2020/Individual Update


Identification: NTA2005

While COVID-19 tax legislation and related IRS guidance was a significant part of tax updates for 2020, there were also lots of important court cases decided and IRS regulations and rulings issued. This presentation covers the most important of these rulings involving income, deductions, losses, health care provisions, and procedural matters and their relevance to tax planning and compliance due diligence.

Speaker(s):
Standard: $49.00

Multi-State Tax Implications - A Case Study

Preview Available

Multi-State Tax Implications - A Case Study


Identification: NTA2007

Multi-state taxation is often complex, and the recent COVID crisis only exacerbated the problem. We will work through a case study example addressing the topics of nexus, sourcing, taxability, exposure identification and remediation. We will also address protections still available to taxpayers.

Speaker(s):
Standard: $49.00

Key Rulings 2020/Business Tax Update

Preview Available

Key Rulings 2020/Business Tax Update


Identification: NTA2008

Beyond COVID-19 tax changes, there were numerous judicial rulings, regulations and IRS rulings in 2020 relevant to all types of businesses. This presentation covers these key rulings and regulations including those dealing with meals and entertainment, various types of business deductions, cannabis businesses, research credit and business entities. Ruling and regulation summaries will also emphasize the relevance to planning and compliance.

Speaker(s):
Standard: $49.00

Independent Contractor Versus Employee

Preview Available

Independent Contractor Versus Employee


Identification: NTA2010

This topic will not go quietly. The GIG economy is of a particular concern. How many have begun their own businesses during the pandemic. Nexus is a concern.

How many are working from home for more than one source of income and will be considered having formed a new business. This session will discuss all these issues including retirement plans, some state and local tax issues and the home office deduction.

Statutory employee is back in the mix and will have to be discussed as part of this issue.

Section 199A and the availability of the 20% deduction.

All these items will be discussed and more.

Speaker(s):
Standard: $49.00

Data Privacy: Are You and Your Clients Really Safe?

Preview Available

Data Privacy: Are You and Your Clients Really Safe?


Identification: NTA2009

This session will:

1. Share insights on the impact of recent data privacy legislation on organizations and tax practitioners and filers and the benefits of using the AICPA's Privacy Management Framework and GDPR mapping tools within your own firms, and with your clients and their employees.

2. Provide guidance to tax practitioners and others engaged in tax compliance on appropriate data privacy strategies, approaches, and control practices 

3. Offer suggestions to members of the profession on the added benefits to be gained by practicing and calling out your organization's safe data handling, integrity checking, and protection capabilities, policies, and controls. 

Speaker(s):
  • Thomas Patterson, CPA (Inactive) CISA CGEIT CRISC, Managing Director, Security Assurance LLC
Standard: $49.00

Partnership Basis: Inside, Outside, and Everything in Between

Preview Available

Partnership Basis: Inside, Outside, and Everything in Between


Identification: NTA2012

Basis plays a critical role in the timing and the amount of gain or loss that a partnership or its partners recognize in a variety of transactions. This session will provide an overview of the concepts and differences among inside basis, outside basis, and capital accounts. We will also highlight the effects on basis resulting from certain events, including contributions, distributions, and transfers of partnership interests. This session will also cover optional (or possibly required) adjustments to basis resulting from a Section 754 election as well as the new tax capital reporting requirements for partnerships.

Speaker(s):
Standard: $49.00

Choice of Entity Myths: Reality vs Fantasy

Preview Available

Choice of Entity Myths: Reality vs Fantasy


Identification: NTA2015

A 21% C corporation tax rate, together with Section 1202 capital gain exclusion, may be attractive, but is it the better deal? The consideration of entity choice for operations depends upon many factors, including shareholder marginal tax rate, expected exit strategy, health of the shareholder(s), and long-term expectations. Flexibility may be the most important factor. There is no overriding consideration that makes a particular entity type the obvious choice.

Speaker(s):
Standard: $49.00