Guide to Understanding the New Net Investment Income Tax 2014 [NIT4 Anc]

Jul 16, 2014
Time: 8-11:30 am

Subject:

Tax

Credit Hours:

4.00

Price:

Member: $150.00
Non-member: $225.00

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Discussion Leader:

Susan Smith, CPA    more info

Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences. Smith was a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She was an associate adjunct professor at Widener University in the master’s taxation program. Her ratings have consistently exceeded 4.8 on a scale of 5.0. Smith is a four-time recipient of the James L. McCoy Discussion Leader of the Year Award for excellence in teaching. And in 2015, 2016, and 2018, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills. Smith earned her Bachelor of Business Administration degree with an accounting concentration, from the University of Toledo.

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Website registration for this course closes on July 15, 2014. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.

Full Description

Surgents Guide to Understanding the New Net Investment Income Tax in 2014

July 16, 2014 Morning Session
8:00 am to 11:30 am
AKCPA Conference Room
Anchorage, AK

The new net investment income tax is now an overriding concern to many taxpayers, particularly business owners and real estate investors. The NII tax base is related by complex rules to the passive activity regulations that require an in-depth understanding of election and planning issues that CPAs need to know. The IRS has been very aggressive in audits under the passive loss rules and will now expand their investigation to include the new NII tax.

Major Topics:
Understanding the implications of the new net investment income tax
Pass-through entity issues and answers
Investment income, passive income, and capital gain income: separate categories create unique problems
What expenses are allowed against NII, and how do you calculate them?
Carryovers, NOLs, AMT, and other issues
Tax planning for AGI and minimization of this tax
Unique new tax issues of sales of S corporation stock or partnership interests

Learning Objectives:
Understand the new net investment income tax
Discuss tax planning issues on these topics with clients

Designed For: CPAs in public accounting who deal with complex individual tax returns

CPE Credits: 4, Taxes

Level of Knowledge: Intermediate

Prerequisite: Five or more years in public accounting working on complex individual tax returns

Acronym: NIT4

Discussion Leader: Susan Smith, CPA