2014 Mini Seminars
November 6, 2014 1 pm – 4 pm
David Kasperik, CPA, CGMA, Mary Philippsen, EA, and Benita Meyers, EA
*Explore the operations of different size tax practices, from scheduling clients to getting the returns out the door. We’ve brought together three principals, representing a Large Practice, a Medium Practice and an Office in the Home Practice in order give ideas for operation functions that you can apply to your own practice throughout the year.
Note: This qualifies for CSEA/NAEA hours only.
S-Corps & LLC’s – Avoiding Fatal Mistakes & Maximizing Tax Benefits
November 13, 2014 1 pm – 4 pm
Randy Roth, EA, MSPS & David Kasperik, CPA, CGMA
* Many well-intentioned clients form LLCs or corporations with the belief that it will provide tax savings and asset protection, only to discover after an IRS audit or a lawsuit that it did not. We estimate (based on experience) that only about two percent of micro-sized LLCs and corporations have been properly formed and maintained in a manner that truly provides the intended tax savings and asset protection benefits.
This seminar will address the most common tax and legal misconceptions about small and micro LLCs and S corporations.
- Proper formation and legal standing
- The tax structures of LLCs and S corporations
- On-going compliance and maintenance
- Avoiding fatal mistakes (lack of legal standing, alter ego blunders, etc.)
- Avoiding costly tax mistakes; where the IRS is focusing
- Owners’ compensation and fringe benefits
- The ownership/relationship tax scenarios for vehicles
- Tax treatment of accountable plans and other reimbursements
- Better ways to deduct the home office, medical, travel, meals & entertainment
- Employee v. independent contractor issues
- The role of LLCs and S corporations in managing risk
The Rules for operating a business today are complex and hazardous. NOT COMPLYING with them can cost your clients thousands.
Schedule E Dissected
November 20, 2014 1 pm – 4 pm
Torie Chavez, EA
**A thorough discussion of our beloved Schedule E!
- Repair vs Improvement
- Vacation Homes and Mixed Use Property
- When is rental, not a rental?
- Passive activities
- At Risk:
- Real Estate Professionals---who qualifies
- Material participation
- Self Employment
- Flow through Entities
- Basis issue for page 2 items
From Income, Repairs vs. Improvement, Mixed Use, Flow-through Entities & Basis issues for Page 2 items Torie will bring us up to date on the currents issue for this commonly used form.