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2017 Clemson University Income Tax Course, COLUMBIA, SC - Second Offering (#2)

Clemson University Tax School

Tuesday, November 28, 2017 at 8:00 AM - Wednesday, November 29, 2017 at 5:00 PM (EST)

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Ticket Type Remaining Sales End Price Fee Quantity
Columbia, SC 2017 Clemson University Income Tax Course - Second Offering (#2) 242 Tickets Nov 30, 2017 $325.00 $0.00

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Event Details

2017 Clemson University Income Tax Course

Columbia, South Carolina – Second Offering (#2)

November 28 and 29

Tuesday and Wednesday

 

2017 Income Tax Course Topics Include (expected):

 

New Legislation: Federal Tax Legislation enacted in late 2016 and in 2017.

 

Rulings and Cases: September 2016 to August 2017 issues under review by the IRS and the courts.

 

Agriculture and Natural Resource Issues: topics that affect farmers, including: agricultural income and expenses, buying and selling farmland, equipment and land rentals, and demolition of structures.

 

Business Entity Issues: issues for partnership and tax exempt entities, including: the new partnership audit rules, practical considerations in partnership reorganizations and liquidations, new developments for tax exempt entities, and organization, taxation, and reporting for homeowners’ associations.

 

Loss Limitations: step-by-step instructions to determine whether a loss is limited, including a discussion of at-risk and passive activity loss limitations, basis limitations for an S corporation shareholder and a partner in a partnership, and hobby loss and vacation home loss limitations.

 

Business Issues: issues tax practitioners encounter when they prepare returns for clients who have rental property or operate a business, such as: expensing real estate improvements, start-up and organizational expenses, and electing out of Subchapter K.

 

Like-Kind Exchanges: tax implications of an exchange, including basis adjustments and the recognition of gain or loss; and the requirements for a reverse or deferred exchange.  Discussion and examples of reporting an exchange. It also explains when a taxpayer can exchange a vacation residence, timberland, easements, and long-term leases.

 

Trusts and Estates: how (and when) to elect portability on Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, and it explains the new basis consistency rules. Finally, an overview of the various types of trusts, and some of their tax and non-tax purposes.

 

Individual Issues: issues tax practitioners encounter when preparing individual income tax returns, including: tax issues for individuals in the military, charitable contribution deductions, valuation, and substantiation, new developments under the Affordable Care Act, disaster tax relief, and taxes and the sharing economy (e.g. renting a spare bedroom or providing car rides or household chores).

 

Foreign Tax Issues: tax issues that affect US citizens living abroad and nonresident aliens living in the US, such as: reporting and tax requirements for US citizens living in foreign countries, the foreign earned income exclusion, and reporting, withholding, and tax requirements for nonresident aliens with US income.

 

Tax Practice: important tax practices and procedures, including: tips to submit a successful offer in compromise, collection statute of limitations and rules that stop the statute from running, and third party liability, such as transferee and nominee liability.

 

Retirement: common retirement tax planning issues including: a comparison of different types of retirement plans, distributions from retirement plans, including early distributions and required minimum distributions, and the impact of income on social security benefits and Medicare premiums

 

IRS Issues: issues the IRS targets as key issues for practitioners: the most prevalent identity theft and impersonation scams. e-services online tools for tax professionals, the new IRS use of private debt collectors, and how to use IRS audit techniques guides

 

SC-DOR Issues: SC Legislation, SCDOR Security Updates, Update on South Carolina E-File and MyDORWay.

 

Ethics: important issues that help practitioners comply with their ethical obligations. Topics include: when client communications are confidential and/or privileged, ethical obligations upon the sale or discontinuance of a tax practice, nondisclosure rules when hiring independent contractors (with sample confidentiality agreement), tax practitioner’s responsibilities when encountering fraud or other misdeeds, case studies to illustrate how to handle real-life ethical issues and adopting a security plan to safeguard data.

 

Continuing Education Credits:

 

For CPA and Enrolled Agents: 18 hours total

Federal Tax Law: 11.5 hours

Federal Ethics: 2 hours

Federal Tax Law Updates: 3 hours

South Carolina Tax Law Updates: 1.5 hours

 

AFSP, RTRP and other Tax Return Preparers: 16.5 hours total

Federal Tax Law: 11.5 hours

Federal Ethics: 2 hours

Federal Tax Law Updates: 3 hours

 

Attorneys: 15 CLE credit hours total

Tax Law: 13 hours

Ethics: 2 hours

 

Certified Financial Planners: 16 hours total

 

“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.”

 

Program Faculty:

 

Ronny Burkett, CPA, President, Burkett, Burkett & Burkett Certified Public Accountants PA, Columbia, SC

 

Mark J. Hendrix CPA, Executive Vice-President, Burkett, Burkett & Burkett Certified Public Accountants PA, Columbia, SC

 

Daniel L. Crowson CPA, Manager, Burkett, Burkett & Burkett Certified Public Accountants PA, Columbia, SC

 

Allison Ford, CPA, Executive Vice-President, Burkett, Burkett & Burkett Certified Public Accountants PA, Columbia, SC

 

Nivia Pérez Hayes, MBA, IRS Stakeholder Liaison Field, US Internal Revenue Service – IRS

 

Keith J. Wicker, CPM, Special Projects Coordinator, SC Department of Revenue – SCDOR

 

Taxpayer Advocate, US Internal Revenue Service – IRS

 

Taxpayer Advocate, SC Department of Revenue – SC-DOR (Columbia only)

 

PROMOTIONAL CODE is available for pre-approved SC-DOR employees only.

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Have questions about 2017 Clemson University Income Tax Course, COLUMBIA, SC - Second Offering (#2)? Contact Clemson University Tax School

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When & Where


Seawell's Restaurant
1125 Rosewood Drive
Columbia, SC 29201

Tuesday, November 28, 2017 at 8:00 AM - Wednesday, November 29, 2017 at 5:00 PM (EST)


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2017 Clemson University Income Tax Course, COLUMBIA, SC - Second Offering (#2)
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