Fall Conference & Annual Meeting

Transcription

1 Minnesota Chapter National Association of Tax Professionals Fall Conference & Annual Meeting September 20 & 21, 2016 Park Plaza Hotel 4460 W 78th St Cir Bloomington, Minnesota See inside for additional opportunities!

2 2 Special Events Early Registration Monday, September 19, :30 6:30 pm Register early, get your books, and renew friendships with those you haven t seen since last year. Additional Opportunities Monday, September 19th Noon 2:00 pm MN Entities Partnerships & S-Corps 2:00 4:00 pm MN Estates & Fiduciary Returns Jeff Fink & Thomas Kemper, both employees of MN Department of Revenue will present MN Partnership & S-Corp Basics. This course is an introduction to the Partnership and S-Corporation taxes and the related obligations for Minnesota purposes. It is designed for business owners, bookkeepers and accountants who need general knowledge of the requirements of registering and filing for these tax types. It will include one hour on Partnerships and one hour on S-Corps. April Begordis and Tracy Bjerke, also employed by MN Department of Revenue will present information on MN Estates & Fiduciaries. This course is a presentation from Minnesota revenue tax specialists on common preparation mistakes and Minnesota tax updates for MN Estate and Fiduciary income taxes. CANCELLATION POLICY All conference cancellations must be confirmed in writing. Cancellations will be accepted through September 5, 2016 minus a $50 administrative fee. Refunds will not be granted after September 5, Registration substitutions are accepted, provided nonmembers pay the nonmember fee difference.

3 General Information 3 The Minnesota Chapter of National Association of Tax Professionals is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE Credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN Website: CPE Credits There will be 15 CPE credits available for attending the entire conference. These will consist of 10 hours Federal Tax Law, 3 hours Federal Tax Updates and 2 hours of Ethics. This will meet the annual CPE requirements for AFSP. Smoking Policy Smoking is not permitted in the conference sessions. Conference Materials Conference materials will be available Monday from 4:30 6:30. Vendors Multiple vendors will be available in the vendor area. Reminder Casual and layered clothing is recommended due to tolerance levels of registrants to room temperatures. Charity This year s charity is the Ronald McDonald House. We will be holding a silent auction please let us know if you have something you would like to contribute. Note Please remember to silence your cell phones. As part of our charity fundraiser, any individual whose cell phone rings during one of our sessions will be fined $5.00. All proceeds will be donated to the Ronald McDonald House. If you have any questions, please contact either: Randy Watkins, Conference Co-Chair randywatkins@hotmail.com or Debbie Gellatly, Conference Co-Chair debbie@countrytaxesko.com or Jane Amble, Chapter President jane@jbataxprep.com.

4 4 Conference Agenda Tuesday, September 20, 2016 TIME Event / Seminar CPE Qualification 6:30-7:30 Full Breakfast Buffet 7:30-7:55 MN NATP Annual Meeting 7:55-8:00 Announcements 8:00-9:15 Home Ownership 1.5 Hours CPE/ 9:15-9:30 Break 9:30-10:45 Planning for Social Security 1.5 Hours CPE/ 10:45-10:50 5 minute stretch break 10:50-11:40 Student Loans 1 Hour CPE/ 11:40-12:40 Lunch 12:40-12:50 Announcements 12:50-2:30 Ethics 2 hours CPE/ Sue Voth & Tom O Saben Ethics 2:30-2:50 Break 2:50-4:30 LLC s vs S-Corps 2 Hours CPE/

5 Conference Agenda 5 Wednesday, September 21, 2016 TIME Event / Seminar CPE Qualification 6:30-7:30 Full Breakfast Buffet 7:30-7:45 Announcements 7:45-9:25 Final 1040/ hours CPE/ 9:25-9:55 Introduction of National Director/ MN NATP Installation of Officers 9:55-10:15 Break 10:15-11:05 New Medicare Premiums 1 hour CPE/ Updates 11:05-11:55 Audits 1 hour CPE/ 11:55-12:55 Lunch 12:55-1:10 Announcements 1:10-2:00 Audits (Continued) 1 hour CPE/ 2:00-2:50 Minnesota Tax Law Updates Sarah Bjorklund 2:50-3:05 Break 3:05-4:45 New Tax Legislation and 2 hours CPE/ IRS Updates Karen Brehmer Federal Tax Law Updates

6 6 Speakers Tom O Saben, EA: Tom has been a national presenter with the National Association of Tax Professionals and with the University of Illinois. He has been involved with developing curriculum and writing textbooks as well as instructing at seminars throughout the United States. He has his own tax practice in Maryville, IL and is a partner in Premier Tax Seminars. Tom has a degree in political science and finance from Southern Illinois University. Sue Voth, EA: Sue owns V & R Accounting, Inc. in Quincy, IL, and has been in the tax preparation field for 30 years. Her firm prepares over 2000 returns annually, including individual, partnership, corporate, trust & estate, and specializes in small business tax planning. She graduated from John Wood Community College and has been an enrolled agent since A nationally recognized speaker on various tax topics, she currently teaches for the University of Illinois federal tax school program and is a partner in Premier Tax Seminars. Karen Brehmer: Karen represents the IRS at educational and taxpayer outreach events working with tax professionals and small business organizations, as well as in conjunction with other Federal, State and local government agencies. Karen has been employed with the IRS since She has served as a customer service representative, a tax collector, and since 2009 she s been in education and outreach. She regularly speaks at meetings and workshops, both face-to- face and via webinars, on tax topics that are relevant to the given tax professional or small business audience. Karen holds a Bachelor of Arts degree from the University of Minnesota, majoring in Secondary Education with an emphasis in English and Speech/Communications. Sarah Bjorklund: Sarah s primary responsibility is the leadworker of the Outreach Group in the Individual Income Tax & Withholding Division at the Minnesota Department of Revenue. The Outreach Group offers outreach and education for taxpayers (specifically minority, low-income, elderly, disabled or limited-english speaking communities), preparers, and employers. Sarah has worked for the Department of Revenue for 7 years, spending her first 6 years in the Collection Division. She has a bachelor s degree in Psychology. She is currently helping provide presentation the Preparer Outreach Coordinator would normally provide. The Preparer Outreach Coordinator position will be filled in the near future. Sarah can be reached by phone at Jeff Fink: Jeff works for Minnesota Revenue as a Corporate Franchise Tax Specialist, Senior in the S-Corporation unit. He has a Bachelor of Science degree in Business Administration from Minnesota State University Mankato. Jeff worked in tax preparation for five years before joining Minnesota Revenue in April of He has 12 years of experience educating Minnesota taxpayers through audits and tax preparation. Thomas Kemper: Tom works for Minnesota Revenue as a Project Consultant, Senior in the Corporate Franchise Tax Division. He has a Bachelor of Science degree in Accounting from Saint Cloud State University. Tom has 2.5 years of experience educating Minnesota taxpayers through audits and phone contact. April Begordis, CPA: April is a Revenue Tax Specialist Principal and has been with the Minnesota Department of Revenue for 6 years. April is the lead auditor for estate and fiduciary income taxes as well as corporate nexus at the Department. April reviews estate and fiduciary income tax returns & audits, revises & approves other auditors proposed assessments, trains new auditors, educates internal and external clients in interpreting tax code, updates estate tax forms & instructions, maintains the estate tax calculator, and contributes knowledgeable insight for future Minnesota legislative estate tax law changes. She received her BA in Public Accounting from Gustavus Adolphus College in 2010 and received her CPA in spring of April is a member of the Minnesota Society of CPAs and the AICPA. Tracy Bjerke: Tracy is a Revenue Tax Specialist and has been with the Minnesota Department of Revenue for 2 years. Tracy reviews and audits estate and fiduciary income tax returns, educates internal and external clients in interpreting tax code and updates fiduciary tax forms & instructions. Tracy received her BSB in Accounting from the University of Minnesota, Carlson Scholl of Management in Prior to her employment with the Department of Revenue, she worked for North Hennepin Community College for 18 years.

7 Course Descriptions 7 Home Ownership Issues 1.5 CPE Credits Field of Study: Taxes Course Level: Intermediate What happens when a taxpayer sells their personal residence and meets the 2 out of 5 year requirement BUT there has been depreciation after ? What happens when the taxpayer sells a rental property and has suspended losses when are those losses deducted and where is the gain taxed or where is the loss deducted? Planning for Social Security 1.5 CPE Credits Field of Study: Taxes Course Level: Advanced How benefits are computed. What items to consider when drawing social security at 62, 66, 67 or 70. Congress tightening the rules on how to maximize social security benefits. What is still available? Student Loans 1 CPE Credit Field of Study: Taxes Course Level: Intermediate A look at the program that allows taxpayers to lower or reduce their student loans based on their income. Issues involved with Married Filing Separately which is the venue taxpayers are using to utilize the lower student loan payback.

8 8 Course Descriptions Ethics 2 CPE Credits Field of Study: Ethics Course Level: Basic A real life practical approach to how Circular 230 is applied in practice real life examples plus some suggestions on how to comply. This session will be anything but BORING!!!! LLCs vs S-Corporations 2 CPE Credits Field of Study: Taxes Course Level: Intermediate Why taxpayers choose the LLC entity NOT for Tax Reasons. Does it ever make sense to be an LLC and then choose to pay tax as an S-Corp? How IRS views the LLC for a sole proprietor. Final1040/ CPE Credits Field of Study: Taxes Course Level: Advanced How to analyze who reports what income and who deducts what expenses. What to do when the 1099 s do not agree with the reality of the situation. Who and where do RMD s get reported in the year of death. When do you get an FEIN for an estate or a trust?

9 Course Descriptions 9 New Medicare Premiums 1 CPE Credit Field of Study: Federal Tax Law Updates Course Level: Basic Understanding who is subjected to the higher premiums. Beware of the impact of the new Medicare Premiums and your clients who exceed the income limits for one year. Tax Tips on possibly avoiding taxpayers being subjected to the new Medicare Premiums. Audits 2 CPE Credits Field of Study: Taxes Course Level: Advanced How to prepare for an Audit. What is IRS looking for during an audit using their Audit Technique Guides to help you. Looking past the Audit and utilizing Appeals. Minnesota Individual Income Tax Update Field of Study: State Tax Law Course Level: Basic Learn about legislative changes for the new tax season. IRS Updates & New Tax Legislation 2 CPE Credits Field of Study: Federal Tax Law Updates Course Level: Basic Delivery Method: Group - Live New Legislation tax issues will be covered with up-to-date information on expirations, extensions, extenders, new tax laws and important tax bills in process. IRS Tax Updates will cover important IRS policies or procedures for the practitioner. Specific examples will illustrate these IRS policies or procedures and applications.

10 10 Menus / Hotel Information Menus A light breakfast & lunch will be provided. **If you have any special dietary requests, you must contact us by September 5th!! Please debbie@countrytaxesko.com. Hotel Information Location Park Plaza Hotel 4460 W 78 th St Cir Bloomington, MN (952) Reservations Call early to make your hotel reservation. Park Plaza Hotel reservations must be received by September 4th to get the MN NATP group rate of $86.00 per night (plus tax) for double occupancy. Mention MN NATP 2016 FALL CONFERENCE. Map The Park Plaza is located near the city s business center, MSP Airport, the Minnesota Zoo and the Mall of America.

11 Conference Fees & Registration 11 Registrations are being handled by the National N.A.T.P. office The registration form can be accessed at: You can also access it by logging onto their website Click on Chapters and then on Minnesota to get to our state chapter page. At that time you can choose to register online, by mail, by fax or by phone. You can also find the link on our MN Chapter website Registrations must be received by 9/5/16. After that date, please register at the door. (Early bird discount available if registration is RECEIVED PRIOR to August 14, 2016) Registration Fees MEMBER NON MEMBER Monday Minnesota Entities Elective $50 $75 Full Conference Early Bird $315 $350 (prior to 8/14/16) Full Conference $350 $390 (received after 8/14/16) Spouse/Guest $100 $100 CD of Course Materials $180 $205 (without conference registration) 1 will be included with each conference registration There will also be a $35 discount for first time attendees See you Next Year at the Holiday Inn in St. Cloud. MN NATP 2017 Fall Conference September 19-20, 2017

12 MN NATP Fall Conference Jane Amble, President JBA Tax Preparation, LLC 523 8th Street South Moorhead, MN 56560