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2-Day Federal Tax Update - Hoven Tax Conference 2017-2018 Two Day Federal Tax Update - Individual, Business & Corporate
Date

11/16/2017 - 11/17/2017
Level

Update
Credits

16.0

Registration

7:15 AM
Course Begins

8:00 AM (MT)
Course Ends

4:00 PM (MT)

Member Fee

$550.00
Non-Member Fee

$650.00
Your Fee Today

N/A
Register
Calendar
Save this course as a Outlook Appointment or Google Event.
Type
Live Group Seminar
Discounts
Early Registration ($50.00 discount applies before 10/26/2017)
Vendor
Vern Hoven Tax Seminars
Location
Boise [map], Grove Hotel
Speaker
Daniel T. Moore (), Vern Hoven, CPA (Vern Hoven Tax Seminars)
Designed For
  • Any tax professional who needs to know all the latest individual, business, partnership, corporation, estate, and trust tax developments.
Description
One tax seminar a year is a must... and this is the best! Our 2-day program - team taught by practicing CPA Vern Hoven and Dan Moore in a highly informative and often humorous manner - covers the latest breaking tax developments affecting individuals, estates, businesses, partnerships and corporations. Participants will receive the most complete and up-to-date reference manual and, as an added bonus, the manual and all of its underlying reference materials are made available in electronic format. Join Vern and Dan as they share cutting-edge tax planning strategies and use their high energy presentation styles and real-life experiences to make complicated tax topics easily understandable.

Special Feature: Course materials contain numerous practical examples, flowcharts, editorial planning tips and other helpful information to aid the participant’s understanding of tax law and new developments.

Highlights

COURSE HIGHLIGHTS

DAY 1

  • Individual changes: All the new tax provisions included in the Trump Tax Proposals. Divorced couples are facing IRS push-backs when deducting alimony or claiming dependency deductions. We will clarify and explain the latest developments on the ACA “repeal and replace” health insurance individual mandate and premium assistance credits. The IRS has continued its attacks on unreported foreign assets as FBAR and FATCA reporting and new withholding requirements continue to evolve - we will discuss the latest strategies to protect your clients. And, of course, we highlight the IRS audit issues on individual returns.
  • Individual retirement: Self-directed IRAs require additional reporting for “hard-to-value” assets. A prohibited transaction involving an IRA will also cost the taxpayer bankruptcy protection. Indirect IRA rollovers are allowed once per year, right? This rule is not as straight forward as it seems and we will explain what to watch out for. A 50% tax penalty is imposed when RMD rules are ignored, even unintentionally, unless relief is properly requested.
  • Real estate changes: The IRS continues to aggressively audit real estate professionals. We will outline the most successful defenses and planning opportunities. Airbnb causes unexpected tax problems because of Form 1099-Rental. Section 1031 like-kind exchange rules must be properly followed. Newest real estate dealer or investor cases discussed. And lastly, the cancellation of debt relief on foreclosures of principal residences was extended only through 2016.
  • Estate/Gift taxation: All the new estate/ gift tax provisions included in the Trump Tax Proposals. Form 8971, with new Regulations and instructions, require executors to report each beneficiaries new basis timely. We cover these new rules in detail. Make sure the portability election for the surviving spouse is also timely made! IRS acknowledges guidance needed to determine if trusts materially participate in order to comply with the 3.8% net investment income tax. Strategies will be discussed. Estate and trust administrators can be personally liable for unpaid estate taxes. Avoid this disaster!

DAY 2

  • Business changes: We will clarify and explain the latest developments on the ACA “repeal and replace” health insurance employer mandate. HRAs options have been greatly expanded for many businesses. Find out everything new so you can assist your clients who are required to comply with this highly complex and far reaching law. We will help you answer these questions and share strategies to implement the employer mandate if required, avoid it if possible, and to minimize the penalties when applicable. Without proper planning, HELOC mortgage interest may not be deductible on a business return. §179 expensing election and §168(k) 50% bonus depreciation have been extended including for certain real estate and agriculture! We analyze the new $2,500 per invoice de minimus expense deduction election. We also explain how to write off a portion of the original cost when repairing a building.
  • Business retirement plans: 2017 COLAs for retirement plan contributions revealed. Extended due date for Forms 5500 changed back to original filing date. Be very careful about “Checkbook IRA-LLCs”.
  • Payroll update: Information return penalties greatly increased. New voluntary certification program for PEOs in place. DOL increases its scrutiny of independent contractors.
  • Corporations: C Corporation tax rate changes in the works - this is a big deal. Corporate inversions - expansive new regs explained. Built-in gain period changed...again! Final regulations address S Corporation debt basis. IRS targets both C and S shareholder basis and reasonable compensation. Using 100%-owned C corp. to pay personal expenses created double taxation...and again could easily have been avoided. New simplified application procedures available for many tax-exempts - do your clients qualify? Also, some tax exempts may qualify for retroactive reinstatement of exempt status. We will put you in position to help these clients get back to their non-profit purpose.
  • Partnerships: New law changed due date for 2017 partnership returns. Court recognizes bifurcated interest in LLC and excludes pass-through profit from SE Tax. IRS announces new “streamlined” audit emphasis on partnerships - what will this mean for our clients? IRS and Tax Court get tough on deduction of partner/member expenses. IRS issues regulations on varying interests and allocation of cash basis costs.
  • IRS audit issues: New “due diligence” requirements for preparers starting in 2017. Congress cuts IRS budget for the 6th straight year - expect longer delays when you need answers. Really! Learn how to properly respond when your client or your firm experience identity theft! IRS continues to target high income individual taxpayers for audit but individual audit rate and revenue drop. Failure to file penalty greatly increased. More taxpayers are successful when filing OICs - we will explain how your clients can take advantage in time of financial distress. Find out the latest IRS issues.
Objectives

To enable all tax practitioners to identify and solve client tax problems before tax season starts. Tax planning ideas and strategies are emphasized.

Prerequisites

  • A basic understanding of tax preparation
Additional Info.

  • Times listed are MST
  • Online registration closes 2 business days prior to seminar
  • Printed manual included in registration fee posted above
  • A link to download an electronic version of the manual will be emailed to registrants 1 wk prior to start of conference

    • Once the link has been emailed, cancellations will not be accepted. If you are not able to attend, we will create a self-study option for you

  • Power strips will NOT be provided in conference room
  • Due to continued issues with the parking passes, we will NOT be offering them this year. 

    • Downtown Boise Parking Website
    • Daily Maximum $12
    • Eastman Garage - 9th & Main
    • Capitol Terrace Garage - Main & Capitol Blvd
    • Boulevard Garage - under the Grove Hotel
    • Myrtle Street Garage - the Hampton Inn Hotel
    • City Centre Garage - 9th & Front Streets
    • Grove Street Garage - beside Hotel 43



      • Ethics Credits - 1 per Day (only in Idaho live conference) - must attend entire day to receive ethics credit

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