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Live Webcast Replay

ACPEN Signature: 2020 Tax Planning Ideas


Total Credits: 8 including 8 Taxes - Technical

Average Rating:
   38
Categories:
ACPEN Signature |  Tax |  IRS Approved
Speakers:
C. Clinton Davis, CPA, JD |  James A. Smith, CPA, CGMA |  Mary Cunningham |  Jeffrey Myers |  Alan K. Davis, JD, CPA |  Michael Fitzpatrick
Course Levels:
Update
Duration:
8 Hours
License:

Dates


Description

No, tax reform was not the end of tax planning.  While some ideas no longer work, tax reform has created or changed a number of ideas.  Our panel of national experts will discuss whether tax deferral makes sense in the current political climate with a view of what to expect from the next Congress.  The SECURE Act was passed in 2020 and it will almost certainly affect most retirement savers; some need to take action now.  A major expansion of the cash method of accounting and expanding bonus depreciation have taxpayers trying to balance their decisions with new limits on business losses and net operating losses.  Oil and gas tax benefits continue to be potential targets and the restrictions on business losses are already affecting some.  Tried and true tax saving devices such as like kind exchanges still exist for real property but the inability to do like kind exchanges for appreciated personal property has taxpayers looking at alternative tax deferral devices like charitable remainder trusts.  Qualified opportunity zones are the hot new tax planning idea for real estate investment and capital gain deferral, but implementation can be difficult although the rewards are significant.  The use of S corporation ESOPs continues to grow in order to move all of a business entity’s income outside the tax system, but those are complex vehicles that require detailed planning and reporting.  Our panel will cover all of these topics and more.

 

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Basic Course Information

Learning Objectives TBD
Major Subjects TBD

Course Materials

Speaker

C. Clinton Davis, CPA, JD's Profile

C. Clinton Davis, CPA, JD Related Seminars and Products

Krage & Janvey, L.L.P.


C. Clinton Davis JR, is with the law firm of Krage & Janvey, LLP in downtown Dallas.  He graduated cum laude from the SMU Dedman School of Law in 1980 and first in his graduating class from Northwestern State University of Louisiana in 1977 with a Bachelor of Science in Accounting.  He was first licensed in Florida as an attorney in 1980 and then in Texas in 1982.  He has been a licensed CPA in Texas since 1980.  He has been Board Certified in Tax Law by the Texas Board of Legal Specialization since 1988.  He has been named as a Super Lawyer, a Top Attorney in Texas by Texas Monthly, one of the Best Lawyers in Dallas by D Magazine and a Top Rated Lawyer by the Dallas Morning News, all in the tax area. 

Clint has in the past been an author and discussion leader for numerous CPE courses for the Texas Society of CPAs. Clint also speaks before various bar associations and accounting conferences. and is a frequent presenter and moderator on the Accountants’ Continuing Professional Education Network.

Clint primarily represents high net worth individuals and closely held businesses with much of his time devoted to real estate tax planning, implementation of S corporation ESOPs, mergers and acquisitions and private foundations.

 


James A. Smith, CPA, CGMA's Profile

James A. Smith, CPA, CGMA Related Seminars and Products

Managing Director

Smith, Jackson, Boyer & Bovard, PLLC


James A. (Jim) Smith, CPA, CGMA, serves as Managing Director of Smith, Jackson, Boyer & Bovard, PLLC, a Dallas Certified Public Accounting firm.  He practices extensively in tax compliance, planning and controversy representation for individuals and entrepreneurial businesses. He also is engaged in the preparation, compilation and review of financial statements; exit strategy planning for entrepreneurs; merger and acquisition planning and transactions; and forensic accounting and litigation services. 

Mr. Smith served as Chair of the Texas Society of CPAs (TSCPA) for the 2007-2008 year, and as a member of its Professional Standards and Federal Tax Policy Committees since their inception.  He served as a member of the AICPA Council 2007 through 2011 and from 2012 through 2015.  He also served as an appointed member of two of the AICPA’s key standard setting committees:  the Accounting and Review Services Committee from 2008 through 2011 and the Tax Practice Responsibilities Committee, 2014 to 2017.


Mary Cunningham's Profile

Mary Cunningham Related Seminars and Products

President and Chief Executive Officer

Chicago Deferred Exchange Company (CDEC)


Mary Cunningham, President and Chief Executive Officer of Chicago Deferred Exchange Company (CDEC), is responsible for a staff dedicated to providing trust and consulting services to attorneys, accountants, real estate and tax professionals nationwide. Ms. Cunningham brings more than 25 years of exchange expertise in the field of LKE services. Her experience comes from direct involvement with thousands of tax-deferred exchanges of diverse assets, including FCC Licenses, Trademarks, Commercial Aircraft, Pipelines, Automobile Fleets and every type of real property. Ms. Cunningham is a frequent lecturer at real estate and tax forums across the country on the topic of tax-deferred exchange strategies and has represented her industry on various legislative issues with the IRS National Office, members of the House of Representatives and the United States Senate. Ms. Cunningham earned her B.S. in Finance from Miami University in Oxford, Ohio and is a 1996 graduate of the American Bankers Association National Graduate Trust School and holds the Certified Exchange Specialist® designation. Ms. Cunningham is also past President of the Federation of Exchange Accommodators (FEA), and currently serves as co-chair of the Government Affairs Committee. Ms. Cunningham meets frequently with members of the U.S. Congress and Senate to discuss the importance of IRC Section 1031.

Since 1989, CDEC has been the nation’s premier provider of IRC Section 1031 Like-Kind Exchange services, with offices in Chicago, New York, San Diego and San Francisco. CDEC acts as Qualified Intermediary in forward LKEs, commonly referred to as “Starker” exchanges, and as Exchange Accommodation Titleholder (EAT) in reverse exchanges under Revenue Procedure 2000-37. CDEC facilitates exchanges throughout the US, and has the highest reputation for safety of funds, expertise and service.


Jeffrey Myers's Profile

Jeffrey Myers Related Seminars and Products

Shareholder

Bourland, Wall, & Wenzel, P.C.


Jeffrey Myers is a shareholder of the firm and engages in a broad range of estate planning, charitable gift and wealth transfer planning for individuals and families, including partnership and business succession planning. He has practiced law since 1992 and has been a part of the firm since 1996. Jeffrey Myers has developed an expertise in sophisticated estate, charitable gift and wealth transfer planning through his speaking and writing at numerous State Bar seminars as well as serving as the Course Director for the Advanced Estate Planning, Advanced Drafting and Advanced Strategies courses.  He represents numerous professionals, family and closely held businesses within his and the firm’s areas of expertise including gift and estate planning, charitable gift planning, personal and business planning for family businesses and professions, with an emphasis on tax law.


Alan K. Davis, JD, CPA's Profile

Alan K. Davis, JD, CPA Related Seminars and Products

Partner

Meadows, Collier, Reed, Cousins, Crouch & Ungerman, LLP


Alan K. Davis, JD, CPA, is a partner in the Dallas law firm of Meadows, Collier, Reed Cousins, Crouch & Ungerman, LLP. He is Board Certified in Estate Planning and Probate Law and is an American College of Trust and Estates Counsel Fellow. He maintains his CPA License. He represents clients in all phases of business planning, estate planning, and probate. Alan’s expertise is focused on designing and implementing plans to accomplish his clients’ objectives regarding the disposition of their estate, as well as taking maximum advantage of the credits and exemptions provided under the Internal Revenue Code for federal estate and gift taxes.  His estate planning practice is devoted to creatively reducing the extent to which an estate is subject to estate taxes. His business planning practice includes counseling clients with respect to establishment, operation and tax reporting requirements of their business transactions.  Primary emphasis is placed on the most tax efficient manner of transferring business interests to family members while also providing second (and third) generations with the best chance of family business continuance. Alan also counsels clients in all aspects of their charitable planning and charitable entities as to their formation and operation.


Michael Fitzpatrick's Profile

Michael Fitzpatrick Related Seminars and Products

Partner & Executive Vice-President

Baker Tilly Capital, LLC


Michael Fitzpatrick is a partner with Baker Tilly and executive vice president and principal of Baker Tilly Capital, LLC, the wholly-owned FINRA broker-dealer subsidiary of the firm. Michael has been with Baker Tilly since 2000 and is a current member of the firm’s board of partners. Michael chiefly works within the Opportunity Zones and New Markets Tax Credit (NMTC) practice areas to provide flexible and affordable capital to qualifying projects and businesses. Michael consults with community development clients in the areas of applying for NMTC from the US Treasury and monetizing NMTC into qualified low income community investments.


Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For Public Practitioners
Original Recording Date 11/18/2020
Yellow Book No
Course Developer Business Professionals' Network, Inc.
Date Added to Catalog 01/17/2020

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Instructional Delivery Method Group Internet Based
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
Course Registration Requirements Online Registration

Reviews

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Overall:      4.5

Total Reviews: 38

Comments

David N - Charlotte, North Carolina

"Good course. Not too fast to understand topics in more detail."

Sue V

"learned a lot from all the speakers"