NSA is presenting sessions at five summer IRS Tax Forums on Tuesdays and Wednesdays. Visit our table, meet NSA staff and volunteers, and learn more about NSA benefits. You can even renew your membership or join NSA onsite.
Dealing with the Partnership K-1 on the 1040- What You Really Need to Know!
Tuesday: 8:00 AM – 8:50 AM Room 3
Wednesday: 2:15 PM- 3:05 PM Room 4
CE: 1 hour/Federal Tax Law
Do you feel overwhelmed when your client hands you a Partnership K-1? Where do you start, what questions do you ask and what do you need to know? With the increasing popularity of pass through entities, it is more likely that you may be dealing with a K-1 from a partnership on your client’s tax return. This seminar will show you how to take the K-1 items to the 1040 tax return and practice points on issues such as passive and active participation, the Net Investment Income Tax, basis issues and unreimbursed partner expenses. This session includes real life examples, potential hazards and resources to keep you in compliance and help you report the K-1 correctly.
A Practitioner’s Look at Limited Liability Companies (LLC) and Their Tax Entities
Tuesday: 10:10 AM – 11:00 AM Room 4
Wednesday: 9:05 AM – 9:55 AM Room 4
CE: 1 hour/Federal Tax Law
What kinds of LLCs are there and how are they taxed? LLCs are very popular but they can be very confusing and complicated for tax reporting purposes. Which form of business is right for your client? This session examines various tax aspects of the LLC, from a single member disregarded entity taxed on Schedule C to a multiple member LLC taxed as a partnership or corporation and the tax elections that are available. Included in this session are real life examples, potential hazards, and resources to help you understand the various reporting issues for the LLC.
NSA Tax Forum Speaker Team:
Kathy Hettick, EA, ABA, ATP, has been the owner and principal of an accounting and tax practice for over 23 years. She has held numerous leadership positions at local, state, and national levels, including WAA President and served as NSA’s President 2015-2016. In January 2017, she was appointed to, and now serves on, the Internal Revenue Service Advisory Council (IRSAC).
Gene Bell, EA, ATA, CFP, is the owner and president of Gene Bell & Associates, Inc. where he provides personal and business tax preparation and planning as well as wealth management services. He was awarded the NSA Distinguished Service Award for 2012, and received the NSA’s Speaker of the Year Award in 2015.
Terry O. Bakker, EA is the owner and president of O’Leary’s Tax Service, Ltd. in Vancouver, WA. She has been providing personal and business tax preparation and planning for over 25 years. Terry is Past President of the Oregon Association of Independent Accountants, active in NSA, and a representative to the IRS Stakeholder Liaison programs. She speaks at the local and national level to practitioners.
James L. Holmes is an Enrolled Agent and has been a practicing accountant in Alamance County North Carolina for over 46 years. He provides personal and business tax preparation for his clients as well as representation before the IRS. His professional memberships include NSA, NCSA, and NAEA. Jim has taught income tax seminars for NC State University for the past 23 years. He was president of the NC Society of Accountants in 1996-1997 and will again be president of the NCSA for June 2016-2017.
Register to attend one of the five IRS Tax Forums in destination cities throughout the U.S.
The NSA will be exhibiting at the 2017 IRS Tax Forums locations. Stop by to check in, say hello, renew your membership or join.
Hilton Orlando Resort
July 11 – 13, 2017
July 25 – 27, 2017
National Harbor, MD
Gaylord National Hotel and Convention Center
August 22 – 24, 2017
Las Vegas, NV
Rio All-Suite Las Vegas Hotel and Casino
August 29 – 31, 2017
San Diego, CA
Town & Country Resort and Convention Center
September 12 – 14, 2017