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Getting More Active With the Passive Activity Rules and the Net Investment Income Tax (PAIT16)
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6/28/2016
When: 6/28/2016
8:30 AM until 4:30 PM
Where: LCPA - Training Facility
2400 Veterans Memorial Blvd
Suite 500
Kenner, Louisiana 
United States
Presenter: Jan F. Lewis


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Acronym PAIT16
CPE 8 hours
Vendor Surgent McCoy CPE
Category
Taxation
Level Intermediate
Prerequisite Five or more years in public accounting working on complex individual tax returns
Adv Prep None
Who should attend

CPAs in public accounting who deal with complex individual tax returns

Registration Early Bird
(through 6/13)
Standard
(after 6/13)
Member $289 $339
CPA Non-Member $389 $439

The Member rate applies to LCPA members, reciprocal state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Description

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 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 NII tax.

Objectives

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

Topics

  • 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 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 tax issues of sales of S corporation stock or partnership interests

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Society of Louisiana
Certified Public Accountants

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

504.464.1040
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