San Francisco, California
London, United Kingdom
The 2014 Clemson University Income Tax Course will be held in Florence, SC on November 11-12.
2014 Income Tax Course Topics Include (expected):
New Legislation (S.C. and Federal): Tax Legislation enacted in late 2013 and in 2014
Rulings and Cases: September 2013 to August 2014 issues under review by the IRS and courts
Individual Taxpayer Issues: Tax issues for parents of disabled children, Hobbies, Dealing with identity theft, and Portability of estate tax exemption equivalent
Tax practice: Working with incomplete records, Pros and cons of extending statute of limitations, Audit triggers, Power of Attorney issues, and Reporting tax practitioner misconduct.
Affordable Care Act: What is the tax practitioner's role in implementing the individual mandate and the employer's mandate for health insurance under the Affordable Care Act?
Business Entities: Comparing the choices of treating a single member LLC as a disregarded entity or an S Corporation: making the S election, need for adequate compensation, gifting shares to family members, and terminating the S election.
Business Issues: Uniform Capitalization rules under Section 263A, Per diem rules, Automobiles, Amending and making late elections, Startup expenses, Correcting depreciation errors, and Methods of accounting.
Agricultural and Natural Resources: Allocating crop insurance payment between crop loss and revenue loss, Christmas trees, Water issues, Ethanol credits and carry forwards, Material participation, and Lease v. purchase of farm assets.
Net Investment Income Tax: the rules for the NIIT including reporting net investment income to and from Schedules K-1.
Retirement: Common retirement issues including: myRA accounts, Inherited IRAs, IRA rollover tax law changes, Taxable social security benefits, and One-participant 401(k) plans
Form 4797: IRC Section 1231 treatment, Casualty gains and losses, Depreciation recapture, Installment sales, and Recapture of IRC Section 179 deductions.
IRS Issues: Employment tax issues, Audit reconsideration, and Collection issues.
Repair and Capitalization Regulations: How the repair and capitalization regulations affect small and large businesses differently. When Form 3115 is not required for changes made by small businesses, Rental property, and why does a "unit of property" matter?
Fiduciary Tax Issues: Income tax rules for estates. Income distribution, Income in respect of a decedent, and Basis of assets.
Foreign Tax Issues: Foreign tax credit and filing requirements for U.S. citizens livign abroad.
SCDOR: SC Legislation, SCDOR Security Updates, Update on SC ESales and E-File
Ethics: What practitioners can and should do in light of Circular 230 and what they cannot do
SC Ethics: One hour of professional conduct for South Carolina CPAs
Continuing Education Credits:
FOR CPA AND ENROLLED AGENTS: 18 hrs total
Federal Tax Law: 11.5 hrs, Ethics: 2 hrs (one hour is SC specific), Updates: 3 hrs
South Carolina Tax Law Updates: 1.5 hrs
Other Tax Return Preparers: 16.5 hrs total
Federal Tax Law: 11.5 hrs, Ethics: 2 hrs, Updates: 3 hrs
15 hours of CLE credits awarded to Attorneys.
“We have entered into an agreement with the Office of Director of Practice, Internal Revenue
Service, to meet the requirements of 31 Code of Federal Regulations, Section 10.6(g), covering
maintenance of attendance records, retention of program outlines, qualifications of instructors
and length of class hours. This agreement does not constitute an endorsement by the Director
of Practice as to the quality of program or its contribution to the professional competence of
the enrolled individual.”
Meals, Refreshments and Facilities: A noon meal is included
on both days of the workshop. Refreshments are provided during breaks.
Most facilities have problems maintaining a uniform temperature.
For your comfort, we suggest you DRESS IN LAYERS.