Day 3

Keynote Speaker (1 TAX CPE)
Joseph T. Conley III, Attorney-in-Charge of the Suffolk County District Attorney’s Office Tax Crimes Unit
Jacques Jiha, Ph.D., Commissioner, NYC Department of Finance

Current Tax Update (TAX CPE) (CFP) (CLE) (CE G1U2N-U-00083-14-I)
Robert S. Barnett, CPA, Esq.

Course repeats at 3041

Current Tax Update includes a discussion of recent tax events, court opinions, cases and rulings. Multiple topics will be discussed including tax procedure, corporate, partnership, liens and levy’s, responsible person penalties, marital considerations, estate, passive activities and much more. Lots of fun for everyone is guaranteed.

Federal Wage and Hour Requirements for Employers and their Representatives (TAX CPE) (CLE)
Irv Miljoner, District Director, U.S. DOL, Wage and Hour Division and Andrew Kimler, Esq.

Labor and wages are among the highest operating costs for many businesses. Learn what you need to know to avoid liabilities and stay in compliance with federal wage and hour laws. Topics will include Minimum Wage, Overtime, Recordkeeping, Exemptions, other labor provisions, as well as audit and penalty information.

Estate Planning Case Study – Part 1 (TAX CPE) (CFP-EP) (CLE)
Neil Katz, J.D., LL.M, CPA

An interactive discussion, using case studies, to bring to light the latest estate planning techniques for estates under $5 million. Of particular importance will be a review of credit-shelter and marital deduction planning, the use of portability and the new New York State Estate Tax rules.

Partnership and 1031 Exchange (TAX CPE) (CLE)
Mark E. Wilensky, Esq. and Stephen M. Breitstone

This panel will explore methods of dividing real estate portfolios with minimal tax consequences and risk. Two principal fact patterns will be considered. The panel will address ways to minimize the risks associated with this transaction.

The panel will also discuss several possibilities for navigating the disguised sale rules under section 707(a)(1) and the anti-mixing bowl rules of sections 704(c)(1)(b) and 737.

Senior Taxpayers (TAX CPE)
Beanna J. Whitlock, EA, CSA, RTRP

With over 10,000 Americans turning age 65 daily, the tax professionals’ clientele is aging. Learn what tax professionals must do to assist their aging taxpayers to file complete and accurate tax returns. The session will concentrate on physical and emotional changes in the senior taxpayer and how the tax professional can protect themselves in service to this growing population of taxpayers.

Converting to QuickBooks Online: What to Expect (MAP CPE)
MB Raimondi, CPA, CITP, owner of MB Raimondi, CPA

Once you are ready to convert from QuickBooks desktop to QuickBooks Online (QBO) you will want to make sure you follow the best practices. Discover what you should do prior to converting the file and what data is not converted to QBO. We will discuss what to do if the desktop file is messy or not suitable for conversion. Learn about the reports and data to verify after the conversion to verify the information was converted properly. Also, understand details about how to re-uploaded or ‘do-over’ the conversion when needed. Plus, we’ll discuss tricky situations and common problems.

AICPA Ethics & IRS Tax Practice Rules (2 CPE NYS Ethics)
Gerard H. Schreiber, Jr., CPA

This session will cover the AICPA Rules of Professional Conduct, AICPA Statements of Standards for Tax Services and Circular 230. Practitioners will be able to identify the similarities and differences between these ethical rules and how they affect their day to day practice.

S&C Corporation Update (TAX CPE) (CFP) (CLE) (CE G1U2N-U-00084-14-I)
Robert S. Barnett, CPA, Esq.

Course repeats at 3051

This lecture will include discussion of: New cases and revenue procedures; Debt tracing rules; Compensation; Management Fees, loss utilization and basis computations. Passive activities, Net investment income and the 3.8% surtax will also be included.

The Mobile Firm (MAP CPE)
Christina Wiseman, Product Manager, Thomson Reuters

With the prevalence of smartphones, tablets, and Internet access from anywhere, we know mobile technology is quickly changing how we operate and interact with each other. But what does the mobile revolution mean for the accounting firm—and how can you make mobile work for your firm? Fortunately, there are a variety of timesaving tools that can help firms take advantage of mobile conveniences while maintaining tight security on client data. In this session, we’ll discuss some of the technology that will help your firm go mobile.

Estate Planning Case Study – Advanced (TAX CPE) (CFP-EP) (CLE)
Neil Katz, J.D., LL.M, CPA

An interactive discussion, using case studies, to bring to light the latest estate planning techniques for estates in excess of $5 million. Of particular importance will be a review of the use of trusts in estate planning for lifetime gift transfers, including QPRTs, GRATs and Grantor Trusts. In addition, the session will highlight important issues in Generation Skipping planning and the use of Charitable Planning for large estates.

IRS Practice & Procedures Issues (TAX CPE) (CE G1U2N-T-00085-14-I)
Melanie Lauridsen & Gerard H. Schreiber, Jr., CPA

This session will cover the AICPA Legislative and Advocacy initiatives, and IRS Practice issues that affect every day tax practice including the Internal Revenue Manual, correspondence audits, penalty relief, and IRS refund freezes. Insight will be provided to assist practitioners in maneuvering thru the IRS with client matters.

The Affordable HealthCare Act – Update (TAX CPE) (CE G1U2N-U-00082-14-I)
Beanna J. Whitlock, EA, CSA, RTRP

This is a repeat of Course 2047

What we know, what we think we know, and what we have no clue about; the ACA of today. Participants will review the 2013 filing season with examples of how the .9 per cent Medicare Tax and the 3.8 Net Investment Income Tax affected their clients. Examples will be reviewed to determine how tax professionals must analyze the returns they prepare in order to assist their clients. The 2014 Individual Mandate will be examined with a focus on filing returns and how the tax professional must adjust their practices for this Tax Act. Finally, a brief forecast of the delayed Employer Mandate to assist in applying the ACA to applicable employers in 2015.

What Do We Do? Our Client Is Filing For Bankruptcy: Insight into the Intimate Relationship between CPAs, Attorneys, and Insolvent Debtors (TAX CPE) (CLE)
Robert Spence, Esq., Spence Law Office, P.C.

This informative program will provide you with what you need to know regarding your role and responsibilities as the debtor’s accountant.

What to Expect When You Are Expecting: A Sales Tax Assessment (TAX CPE)
Mark L. Stone, CPA and Jessica L. Cettina, Tax Specialist with Sales Tax Defense LLC

Many Clients are unable to pay either their sales tax due on their returns or a bill from an audit. This seminar will cover the options available to resolve a sales tax assessment and provide a warning for the types of collection actions the government may take.

Why Is The Net Investment Income Tax So Complicated? (1 TAX CPE)
David H. Kirk, Ernst & Young LLP

An insider’s retrospective on the 3-year development of the NIIT regime and lessons learned from the inaugural filing season.

Current Tax Update (TAX CPE) (CFP) (CLE) (CE G1U2N-U-00083-14-I)
Robert S. Barnett, CPA, Esq.

This is a repeat of course 3011

What Every Advisor Needs to Know About Special Needs Planning (TAX CPE) (CLE)
Vincent J. Russo, Esq.

Vincent J. Russo will draw on his personal and client experiences to provide a practical approach to Special Needs Planning. He will provide an overview of what special needs is all about while highlighting key areas such as Government Benefits (SSI & Medicaid), Special Needs Trusts, Taxes and Guardianships.

Lessons From Working For and Against The IRS (TAX CPE)
Lance S. Hall, ASA, President, FMV Opinions, Inc.

With estate and gift tax audits skyrocketing, coupled with an increasingly aggressive IRS, you will want to hear a national valuation authority discuss this disturbing trend. In this dynamic, entertaining and highly informative presentation, we will explore the issues and provide practical advice on preparing for, and successfully dealing with, the IRS in audits.

International Taxation: Foreign Tax Credits (TAX CPE) (CLE) (CE G1U2N-T-00086-14-I)
Renato D. Matos, Esq.

The emphasis of this lecture will be on developing an understanding of the intricacies of the foreign tax credit system (including the rules related to eligibility and creditable taxes, the section 904 limitation, the deemed-paid credit, and the potential for planning), the allocation of interest and other expenses and the treatment of overseas losses.

Smarter Social Security - Strategies to Maximize Spousal Benefits (TAX CPE) (CFP-RP)
Daniel G. Mazzola, CFA, CPA

A broad overview of the Social Security program as it relates to retirees and their beneficiaries while emphasizing spousal benefits. An AARP survey conducted in 2012 determined that only half of the respondents who were either married or who had ever been married were aware that spousal benefits were available. Spousal benefits will be examined and we will explore how married couples can optimize their collective payouts using two simple strategies.

Reading a Hedge Fund K-1 (TAX CPE) (CE G1U2N-T-00087-14-I)
Barry L. Sunshine, CPA, MS

When your client invests in a hedge fund and provides to you the annual K-1, many preparers do not fully understand all of the tax implications for the reporting purposes. This program will review what you as the tax preparer needs to understand and do.

Effective Use of IRA Trusts after the U.S. Supreme Court Decision in Clark v. Rameker (TAX CPE) (CLE) (CE G1U2N-T-00088-14-I)
Seymour Goldberg, CPA, MBA, JD

This program takes on additional significance in light of the June 12, 2014 U.S. Supreme Court decision holding that inherited IRAs are not “retirement funds” and are, therefore, not exempt assets under the bankruptcy code. Program Topics Include: Effective Use of IRA Trusts in Estate Planning and Asset Protection Planning, Common Errors in Retirement Distribution Planning, Who Should Pay Your Estate Tax on Your Estate Tax on Your Retirement Accounts, New Circular 230 provision regarding “Competence” effective June 12, 2014 and Liability of tax return preparer under Circular 230 for improperly preparing a fiduciary income tax trust return of a noncompliant IRA trust.

S&C Corporation Update (TAX CPE) (CFP) (CLE) (CE G1U2N-U-00084-14-I)
Robert S. Barnett, CPA, Esq.

This is a repeat of course 3021

International Tax – Fixing the Past – Planning the Future (TAX CPE)(CE G1U2N-T-00088-14-I)
Eric L. Morgenthal, Esq., CPA, M.S (Tax)

Learn the latest about IRS Offshore Voluntary Disclosure options including streamlined disclosures, "opt-out" mechanics, procedures, and issues relating to examination, negotiation, settlement and appeals. Collection measures, penalty abatement, Statutes of Limitations, defenses and criminal exposure will be discussed. Learn the risks and duties for the CPA along with an overview of the Exit Tax and a roadmap of commonly overlooked International Tax filing obligations.

Buy-Sell Agreements Considerations Including a Discussion of 101(a) and 101(j) (TAX CPE) (CLE)
Renato D. Matos, Esq., and Donald Vigliotti, New York Life

Buy-Sell Agreements are an important tool for your clients to effectively manage their business interests and head off estate and business continuation issues before they occur. Find out how Buy-Sells and Shareholder / Partnership Agreements can be used to protect years of hard work and smoothly settle succession considerations.

This course will cover Tax & Financial Considerations; Avoiding Disputes and Traps; Funding Options & Opportunities; and Pension Considerations & Seasoned Money. Good advice makes all the difference.

The Insiders Truth About How to Do a Successful Merger on Long Island (TAX CPE) (CLE)
Max T. Krotman, Esq.

Three of your colleagues who have successfully merged their practices with Long Island CPA firms, will tell you the inside on what really happens to clients, staff, earnings, and most of all the control (or lack of control) and professional enjoyment that results from a successful merger.

Cyber Liability Decoded (MAP CPE)
Joe Gates, Beazley Group

If you have employees or customers (and who doesn’t) then you have a Cyber Liability exposure. Cyber Liability Decoded is a presentation that explains a data breach including the exposure, the applicable laws and the potential expenses as well as the insurance products available to protect your business.

Learn How to Help Your Clients Benefit From the New Tangible Property Regulations (TAX CPE)
Chris Hitselberger, Managing Director, SourceHOV Tax

This course covers the details of when and how to ‘Expense’ a repair, ‘Capitalize’ an improvement or ‘Write-off’ an abandoned asset. If your clients are depreciating building or improvement costs, you will find this program very informative and useful.