Packages Display Packages
This includes sessions from the conference: 2023 AICPA & CIMA National Tax and Sophisticated Tax Conference
Sessions Included:
Conference Welcome | Keynote Presentation: Are you Future Ready? ChatGPT, Generative AI and the World of Tax (Nov 13, 2023 09:00 AM)
AICPA Tax Division Update (Nov 14, 2023 08:00 AM)
The Rise of Generative AI for Tax Research: Sponsored by Blue J Legal (Nov 14, 2023 08:00 AM)
Leveraging the power of STEM to solve for the Accountant Shortage (Nov 14, 2023 08:00 AM)
Current Tax Developments for Individuals (Nov 13, 2023 10:55 AM)
Partnership Tax Saving Strategies (Nov 13, 2023 10:55 AM)
Cybersecurity and Your Role as a Tax Professional (Nov 13, 2023 10:55 AM)
Post-Mortem Income Tax Planning: What Do You Need to Know and Do When a Client Dies? (Nov 13, 2023 10:55 AM)
Current Tax Developments for Business (Nov 13, 2023 01:25 PM)
Creating Mental Wealth (Nov 14, 2023 08:00 AM)
Current Developments in Trusts and Estates (Nov 13, 2023 01:25 PM)
Current Developments in State Income Taxation: Individual and Business (Nov 13, 2023 03:10 PM)
How to Have an Estate Planning Conversation with your Client (Individuals and Businesses) (Nov 13, 2023 03:10 PM)
Real Estate Developments (Nov 13, 2023 04:20 PM)
Balancing R&D Capitalization with Credits (Nov 13, 2023 04:20 PM)
When to Call a Lawyer Before you Need a Lawyer: Privilege, Practice and Procedure (Nov 13, 2023 04:20 PM)
Incorporating Personal Financial Planning into Tax Compliance Practices (Nov 13, 2023 04:20 PM)
Corporate Transparency Act: T-Minus Seven Weeks to Launch! (Nov 14, 2023 11:50 AM)
Don’t Get Blindsided: Pillar 2 Could Become Your Client's Next Nightmare (Nov 14, 2023 11:50 AM)
Advanced Planning Strategies for Health Savings Accounts (Nov 14, 2023 11:50 AM)
The Top Tax Cases of All Time (Nov 14, 2023 01:40 PM)
State of the Accounting Industry – Current Trends and Opportunities in CPA Firm M&A and Private Equity (Nov 14, 2023 01:40 PM)
Secure 2.0: Planning Opportunities for Individuals & Businesses (Nov 14, 2023 01:40 PM)
S Corporations: Red Flags in the Basis Calculation (Nov 14, 2023 03:15 PM)
Navigating Foreign Information Reporting: FBAR, Form 8938, and Other International Forms (Nov 14, 2023 03:15 PM)
The Intersection of Tax and ESG (Nov 14, 2023 03:15 PM)
Puerto Rico Tax Strategies: Acts 20/22/60 (Nov 14, 2023 03:15 PM)
Navigating Pass-Through Entity Tax: Federal and State Challenges (Nov 14, 2023 04:25 PM)
Tax Practice Resiliency (Nov 14, 2023 04:25 PM)
Successful Charitable Gifts: Choice of Donee and Substantiation Compliance (Nov 14, 2023 04:25 PM)
Conference Welcome | Keynote Presentation: Are you Future Ready? ChatGPT, Generative AI and the World of Tax
Nov 13, 2023 9:00am ‐ Nov 13, 2023 10:25am
Identification: NTSP2301
Usage of ChatGPT and other generative AI platforms has surged in 2023. Join our expert panel led, by Erik Asgeirsson, CEO and President at CPA.com, for a lively discussion as we delve into the world of artificial intelligence and explore its impact on the tax and accounting profession. The growth of Artificial Intelligence from conversational applications such as Siri to the use of today’s cutting-edge generative AI technologies like ChatGPT have revolutionized the way professionals approach their work. But what does this mean for tax professionals and their clients now, tomorrow and in the years to come? * How can you leverage AI to stay relevant? * How is the IRS using AI? * How will it impact tax and accounting practices? * What risk assessments and safeguards should be considered?
Learning Objectives:- Identify how can you leverage AI to stay relevant
- Determine how AI will impact tax and accounting practices
- Calculate the risk assessments and safeguards that should be considered
Moderator(s):
- Erik Asgeirsson, President & CEO, CPA.com
Panelist(s):
- Jason Staats, Firm Runner and Content Creator, Realize
Invited(s):
- Eric Lopresti, Senior Attorney, Tax Team, Senate Finance Committee
Speaker(s):
- David Lifson, CPA, Senior Advisor, Crowe LLP
Current Tax Developments for Individuals
Nov 13, 2023 10:55am ‐ Nov 13, 2023 12:10pm
Identification: NTA2302
This presentation covers highlights of any 2023 federal tax legislative changes that affect individuals, and the most important federal tax rulings of 2023 involving income, deductions, losses, digital assets and other property, credits, and procedural matters and their relevance to tax planning and compliance due diligence.
Learning Objectives:- Analyze 2023 rulings that represent new legal interpretations for individual taxation.
- Identify tax planning and compliance points from any 2023 federal tax legislation and key 2023 court cases, regs and IRS rulings.
- Identify due diligence actions highlighted by 2023 individual tax law developments.
Speaker(s):
- Annette Nellen, CPA, CGMA, Esq, Professor, MST Program Director, San Jose State University
Partnership Tax Saving Strategies
Nov 13, 2023 10:55am ‐ Nov 13, 2023 12:10pm
Identification: NTA2303
In this session, Brian and Brandon will explore basis adjustments available under Sec. 754. They will look at when and how to go about making these basis adjustments and will analyze the impact of making (or not making) an adjustment. The discussion will cover the initial calculation of the adjustment and the allocation of the adjustment to partnership assets, along with the depreciation benefits available after an adjustment is made.
Learning Objectives:- Determine when optional basis adjustments can be made and how to make them.
- Analyze opportunities to adjust the basis in partnership property.
- Apply knowledge of depreciation related to basis adjustments.
Speaker(s):
- Brandon Lagarde, CPA, J.D., LL.M. (Taxation), Partner, EisnerAmper
- Brian Lovett, CPA, CGMA, JD, Partner, Withum
Cybersecurity and Your Role as a Tax Professional
Nov 13, 2023 10:55am ‐ Nov 13, 2023 12:10pm
Identification: NTA2304
Understanding cybersecurity breaches and intrusion investigations, electronic discovery, forensic computer science, and information security. This session will also focus on safeguard rules and current trends.
Learning Objectives:- Recognize how to evaluate the cyber security needs of your organization
- Identify current trends used to compromise sensitive data
Speaker(s):
- Bill Odom, Co-founder, Orbital Data Consulting Group, Inc
Post-Mortem Income Tax Planning: What Do You Need to Know and Do When a Client Dies?
Nov 13, 2023 10:55am ‐ Nov 13, 2023 12:10pm
Identification: SOP2302
THIS SESSION WILL DISCUSS THE FOLLOWING TOPICS: PROTECTING THE FIDUCIARY, ESTATE’S FISCAL YEAR ELECTION, ADMINISTRATION EXPENSE ELECTION, ALTERNATE VALUATION ELECTION, SECTION 643(E) ELECTION, PORTABILITY, QTIP ELECTION, QUALIFIED DOMESTIC TRUSTS, DISCLAIMERS, DEATH OF A PARTNER, S CORPORATION STOCK, SECTION 645 ELECTION, SECTION 6166 DEFERRAL OF ESTATE TAX AND GENERATION SKIPPING TAX ELECTIONS.
Learning Objectives:- Determine the various tax and estate planning elections available to the fiduciary after a client dies.
- Identify how to make various post-mortem elections on a tax return or submission to the IRS
Speaker(s):
- Jeremiah W. Doyle, BS (Accounting), J.D.,LL.M. (Taxation), LL.M. (Banking Law), SVP/Family Wealth Strategist, BNY Mellon Wealth Management
Current Tax Developments for Business
Nov 13, 2023 1:25pm ‐ Nov 13, 2023 2:40pm
Identification: NTA2305
Coverage of the most significant court decisions, federal tax regulations and IRS rulings in 2023 relevant to all types of businesses and entities. These developments involve deductions, accounting methods, property transactions, credits, and more. Highlights of any federal legislation enacted this year as relevant to businesses and federal tax form changes is covered. Due diligence and planning ideas are emphasized throughout.
Learning Objectives:- Identify tax planning and compliance points from any 2023 federal tax legislative changes, significant court cases, regulations, and IRS rulings.
- Apply 2023 rulings that represent new legal interpretations for taxation of businesses.
- Identify due diligence actions to take based on 2023 tax law developments.
Speaker(s):
- Annette Nellen, CPA, CGMA, Esq, Professor, MST Program Director, San Jose State University
Current Developments in Trusts and Estates
Nov 13, 2023 1:25pm ‐ Nov 13, 2023 2:40pm
Identification: SOP2303
This session will cover the top 10 current developments in trusts and estates.This will include any interesting income tax developments.
Learning Objectives:- Identify important recent developments in the area of tax and estate planning.
- Analyze recently enacted and proposed legislation that will affect tax and estate planning clients.
Speaker(s):
- Jeremiah W. Doyle, BS (Accounting), J.D.,LL.M. (Taxation), LL.M. (Banking Law), SVP/Family Wealth Strategist, BNY Mellon Wealth Management
Current Developments in State Income Taxation: Individual and Business
Nov 13, 2023 3:10pm ‐ Nov 13, 2023 4:00pm
Identification: NTA2308
This presentation covers significant state income tax developments that have occurred in 2023, including a consideration of: the continuing adoption of state pass-through entity tax regimes; state income tax conformity to federal provisions (including changes to IRC Sec. 174); the proposed (and soon to be final?) New York corporation income tax regulations in response to tax reform; New Jersey corporation business tax changes; and cost of performance / market-based sourcing cases in Florida and Texas. In addition to a review of these developments, the presentation will provide a first look as to what may happen in this area in 2024.
Learning Objectives:- Analyze major state income tax developments affecting individuals and businesses that have occurred in 2023.
- Distinguish how these developments may affect individual and business taxpayers.
- Identify initial guidance on how these developments might influence what may happen from a SALT income tax perspective in the coming year.
Speaker(s):
- Jamie Yesnowitz, J.D., LL.M. Taxation, Principal, SALT, Grant Thornton LLP
How to Have an Estate Planning Conversation with your Client (Individuals and Businesses)
Nov 13, 2023 3:10pm ‐ Nov 13, 2023 4:00pm
Identification: SOP2304
This session will focus on 5 questions to use with clients to initiate an estate planning conversation. We will discuss estate tax rules today and focus on planning in advance of scheduled sunset of several provisions. We will also discuss tools that CPA's can use to enhance the estate planning process.
Learning Objectives:- Use open-ended questions to initiate an estate planning conversation with clients
- Identify qualitative and quantitative issues associated with estate planning
- Identify planning strategies to take advantage of current law before sunset of favorable provisions
- Differentiate tools that can enhance the conversation about estate planning with clients
Speaker(s):
- Lisa Featherngill, CPA/PFS, CFP (R), National Director of Wealth Planning, Comerica Bank
- Mrs. Sandi O. Thorman, CPA, Partner, GreerWalker LLP
Real Estate Developments
Nov 13, 2023 4:20pm ‐ Nov 13, 2023 5:35pm
Identification: NTA2311
This session will explore recent updates related to the taxation of real estate transactions. We will explore the passive activity rules and their impact, as well as dig into the capitalization rules around interest expense and other costs incurred. We will touch on the potential for limitation of interest expense deductions under Sec. 163(j) and look at opportunities for real estate investors to avoid this limitation. Finally, we will look at how taxpayers are using qualified opportunity zone investment to maximize returns. __
Learning Objectives:- Apply the impact of the passive activity rules on real estate transactions.
- Identify when costs must be capitalized.
- Analyze the opportunity to invest via a qualified opportunity fund.
Speaker(s):
- Brian Lovett, CPA, CGMA, JD, Partner, Withum