2020 Long Island Professionals Tax Symposium
November 10 - November 19
The 18th Annual NCCPAP Accounting and Tax Symposium is upon us again, but for the first time, in an all-virtual setting! This series of webinars will feature CBMS partners Robert S. Barnett, Gregory L. Matalon, Stuart H. Schoenfeld & Yvonne R. Cort each hosting lectures. The Symposium is being held over four days: November 10, 13, 18 & 19.
Dates and times for the webinars are listed below, so make sure to mark your calendars! Register for the Symposium here!
November 10th @ 8:00am
Robert Barnett & Neil Katz – Estate planning After the 2020 Presidential Election: An Initial Reaction
The estate, gift and GST tax rules, with the large exemptions that presently exist, have created an environment ripe for planning. How will the 2020 Presidential and Congressional Elections change that? Neil and Robert will share their insight as to what the future holds for estate planning, highlighting the possible need for immediate action.
November 18th @1:35pm
Yvonne R. Cort – Beware of the Waking Giant: IRS and NYS Collection Update
IRS and NYS are back in force, with increased emphasis on non-filers and fraud referrals. The risks are serious, with potential IRS liens, NYS warrants, levies, passport revocation and numerous civil penalties. We will discuss strategies to assist the taxpayer, including an overview of penalty abatement, collection resolutions and voluntary disclosure. 1:35pm
November 18th @ 2:55pm
This lecture includes Form 1041 Income Tax updates, the new proposed regulations under §67(e); new cases of interest; current planning with IRAs and the SECURE Act; utilizing low interest rates; and post-election planning. 2:55pm
November 18th @ 4:55pm
There are many intersections between elder care and special needs planning and taxes. Trusts are frequently the preferred planning vehicle in these matters. We will explore how to minimize income and estate taxes and effectively maintain tax benefits and exemptions.
November 19th @ 11:35am
Robert Barnett– Net Operating Losses
This lecture will discuss how to utilize new CARES Act provisions for loss utilization – Topics include: New Carryback Ability, Section 461(l) changes and technical corrections; Suspension of the 80% limitation; Section 163 (j) update and calculations; Deduction requirements and methods; and Trust and Estate considerations. 11:35am
November 19th @ 2:55pm
Robert Barnett– Passive Activities and At Risk Rules
Loss utilization first requires sufficient basis and thereafter requires that the limitations under the At Risk and Passive Activity rules be avoided. This Lecture will include both an overview and specific examples for real estate and other trades and businesses. “Real Estate Professional” status and grouping elections will be discussed. You will gain a comprehensive understanding of how these rules will work with helpful examples and cases. 2:55pm
- November 10
- November 19