NSA is presenting sessions at all five summer IRS Tax Forums this year. We are also representing the organization and members in the registration area. Visit our table, meet NSA staff and volunteers, and learn more about NSA benefits. You can renew your membership or join NSA onsite.
Below are titles and descriptions of our sessions.
Partnership Schedule K-1 – What You Need to Know in Light of The Tax Cuts and Jobs Act
Do you feel overwhelmed when your client hands you a partnership Schedule K-1 (Form 1065)? Where do you start, what questions do you ask, and what do you need to know? What qualifies for the 20 percent Qualified Business Income (QBI) deduction? With the increasing popularity of pass through entities, it is more likely that you may be dealing with a Schedule K-1 from a partnership on your client’s tax return. This session will discuss how to take the Schedule K-1 items to the 1040 tax return and practice points on issues such as passive and active participation, 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 Schedule K-1 correctly.
CE: 1 hour/Federal Tax Law
S Corporation Hot Spots – What You Need to Know in Light of the Tax Cuts and Jobs Act
For the last several years, S corporations have been the most popular entity for a small business. The Tax Cuts and Jobs Act (TCJA) impacts S corporations in a variety of ways. In this session, we will cover what you need to know about the tax act provisions and their effect on S corporation “hot spots.” This seminar will include a new analysis of reasonable compensation, health insurance, cash vs. accrual basis, shareholder loans and distributions, depreciation, fringe benefits, accountable plans and revoking the S election. It is more important than ever to understand and watch out for the hazard areas of S corporations.
CE: 1 hour/Federal Tax Law
This year’s summer 2018 NSA Speaker Team is:
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.
Register to attend one of the five IRS Tax Forums in destination cities throughout the U.S.
The NSA will be exhibiting at the 2018 IRS Tax Forums locations. Stop by to check in, say hello, renew your membership or join.