The requirements of the Corporate Transparency Act go into effect on January 1, 2024 and many of your clients will face a new and burdensome compliance and reporting requirement. While not in place yet it appears that the Corporate Transparency Act will be a significant undertaking and thus clients will likely be turning to you to help them to meet their obligations and avoid the potential civil and criminal penalties. To make things even more complicated, the NYS Legislature has passed the LLC Transparency Act that, when signed by Governor Hochul, will require additional state mandated disclosures related to LLCs. The webinar will discuss the requirements that will come into effect in 2024 under the Corporate Transparency Act, the exemptions from the filing requirements, the penalties for failure to comply, and the proposed NYS LLC reporting rules.

This webinar will review concepts important in the preparation of a 1041 (Fiduciary Income Tax Return), specifically focusing on the calculation and utilization of DNI. This will allow the practitioner to better understand the operation of a trust or estate and help to plan for the income tax consequences of the income of such an entity or either the entity or its beneficiaries.

This webinar will provide an understanding of the workings of the Generation Skipping Transfer Tax and an explanation of how the GST Exemption applies. Understanding how and when to work with the GST exemption will allow the practitioner to advise clients on high level wealth transfers that can save families millions of dollars over many generations.

This course will provide participants with the most current information available regarding the preparation of the 2023 Federal Individual Income Tax returns. We will highlight the changes that have taken place over the last 12 months along with discussing any potential (or enacted) future legislative changes. We will highlight the latest developments related to personal income tax that have come from court cases and government pronouncements. Participants must have a basic knowledge of Federal personal income tax rules.

This Business Tax Update will focus on the Federal taxation of business issues that affect individuals and entities. We will discuss the law changes that have taken place over the last few years that impact clients’ businesses. The seminar will continue to focus on the impact of Section 199A on a taxpayer and the loss limitation rules including the Net Operating Loss deduction and excess Business Loss rules. This year’s seminar will also provide a detailed review of the Basis calculations and discuss the IRS’s present stance on the Employee Retention Credit claims. All proposals for new rules (or enacted rules) that impact businesses will be discussed. Participants must have a basic knowledge of the business provisions related to Federal personal income tax and the Federal tax rules for Partnerships, LLCs and Corporations.

This course will focus on the preparation of the 2023 NYS Individual and Entity returns, highlighting cases, rulings and other pronouncements that will have an impact on the returns. The provisions of the latest NYS budget bill will be discussed, with a continued focus on the Pass-Through Entity Tax and Credit. As it remains a major issue, we will also review and analyze the impact of this on NYS and NYC residency for 2022. We will also discuss the state taxation of trusts, an issue that has become increasingly important as clients have greatly expanded the use of trusts in their planning. Participants must have a basic knowledge of NYS personal and entity income tax.

This course will provide participants with the most current information available regarding the preparation of the 2023 Federal Individual Income Tax returns. We will highlight the changes that have taken place over the last 12 months along with discussing any potential (or enacted) future legislative changes. We will highlight the latest developments related to personal income tax that have come from court cases and government pronouncements. Participants must have a basic knowledge of Federal personal income tax rules.

This Business Tax Update will focus on the Federal taxation of business issues that affect individuals and entities. We will discuss the law changes that have taken place over the last few years that impact clients’ businesses. The seminar will continue to focus on the impact of Section 199A on a taxpayer and the loss limitation rules including the Net Operating Loss deduction and excess Business Loss rules. This year’s seminar will also provide a detailed review of the Basis calculations and discuss the IRS’s present stance on the Employee Retention Credit claims. All proposals for new rules (or enacted rules) that impact businesses will be discussed. Participants must have a basic knowledge of the business provisions related to Federal personal income tax and the Federal tax rules for Partnerships, LLCs and Corporations.

This course will focus on the preparation of the 2023 NYS Individual and Entity returns, highlighting cases, rulings and other pronouncements that will have an impact on the returns. The provisions of the latest NYS budget bill will be discussed, with a continued focus on the Pass-Through Entity Tax and Credit. As it remains a major issue, we will also review and analyze the impact of this on NYS and NYC residency for 2022. We will also discuss the state taxation of trusts, an issue that has become increasingly important as clients have greatly expanded the use of trusts in their planning. Participants must have a basic knowledge of NYS personal and entity income tax.