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Getting More Active With the Passive Activity Rules and the New Net Investment Income Tax (PAIT14)
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Now more than ever, every business owner and real estate investor must determine if they materially participate in any and all trades or businesses, even if they make a profit or a loss, because of the new net investment income tax. These extremely complicated rules 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.

12/3/2014
When: 12/3/2014
8:30 AM until 4:30 PM
Where: LCPA Training Center
2400 Veterans Memorial Blvd
Ste 500
Kenner, Louisiana  70062
Presenter: Peter J. Towle


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Now more than ever, every business owner and real estate investor must determine if they materially participate in any and all trades or businesses, even if they make a profit or a loss, because of the new net investment income tax. These extremely complicated rules 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.

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

Objectives:

  • Understand the passive activity rules on a much deeper level
  • Understand the new net investment income tax
  • Discuss tax planning issues on these topics with clients

Highlights:

  • A survey of the 300 pages of regulations under the passive activity loss rules
  • Understanding and substantiating material participation
  • An in-depth discussion of when you may or may not make an aggregate election for activities
  • What does it mean to qualify as a real estate professional?
  • 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

Requisite Knowledge: Five or more years in public accounting working on complex individual tax returns
Speaker: Peter J. Towle
Vendor:
Surgent McCoy
Field of Study: Taxation
Level: Intermediate
CPE Credits: 8

Registration Fees:

Members

CPA Non-Members

Early Bird (through 11/16)

$276

$376

Standard (after 11/16)

$326

$426

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Society of Louisiana
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2400 Veterans Memorial Blvd., Suite 500
Kenner, LA 70062-4739

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