Previously Offered In-Depth Seminars

Our In-Depth Seminars offer more in-depth and more advanced instruction than that offered at our Fall Tax Schools. Topics change annually and are chosen based on suggestions from past participants and timely or "hot" topics for tax practitioners.

Taxation of Estates and Trusts (Last Offered in 2012)

About the Seminar

It is estimated that 10,000 baby boomers will reach retirement age every day through 2025. Many of these retirees may decide to establish trusts, an important cornerstone of a sound estate plan. There are unique tax challenges and consequences for trusts and estate returns. Are you prepared to help your clients with their preparation of estate and trust tax returns?

In this 1-day seminar, Dr. William Kulsrud will explain various estate and trust taxation issues, including taxation consequences, trust classifications, special considerations such as a personal residence held by trust or estate, revocable trusts, and more. Dr. Kulsrud is an extremely popular presenter who is able to make the most complex issues understandable. You will not only leave his seminar with a full picture of trusts and estates taxation, but also with information to help you best advise your estate and trust clients on their taxation issues.

About our Speaker

William N. Kulsrud, PhD, CPA, is Associate Professor of Accounting and Chair of the Master of Science in Accounting (MSA) at the Kelley School of Business at Indiana University-Indianapolis. In addition to winning multiple teaching awards from IUPUI, Dr. Kulsrud was named the 2009 Outstanding CPA by Indiana Business Magazine. Dr. Kulsrud previously taught two courses for the University of Illinois Tax School: C Corporation Webinar Series (2011) and Form 1041 Essentials: Trusts and Estates (2006).

Seminar Agenda

Taxation of Estates and Trusts Agenda

Learning Objectives, Materials, etc.

Learning Objectives: By attending this seminar, you will be able to:

• Describe the consequences of establishing trusts and estates
• Explain the difference between simple and complex trust calculations
• Calculate fiduciary taxable income, distributable net income, and the distribution deduction
• Complete Form 1041

Materials: All attendees will receive a copy of William Kulsrud's book, Income Taxation of Estates and Trusts.

CPE Credits: Up to 8 CPE credits, based on the length of your attendance.

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and familiarity with trusts and estates

Advanced Preparation: None

In-Depth Seminar: Farm Succession Planning (Last Offered in 2012)

About This Seminar

In this one-day seminar, you will learn how to transfer assets from one generation to another within the unique constraints of farm succession planning. This seminar takes an in-depth look at topics such as entity types, considerations in choosing the proper business structure, equitable treatment of heirs not in the business, asset transfer strategies, and the use of trusts in succession planning. We will also cover post-mortem planning and planning for the potential of requiring long-term health care.

Topics include:

• Entity comparisons, including corporations, partnerships, LLCs and LLPs
• Considerations when choosing a business structure
• Equitable treatment of heirs who are not in the business
• Asset transfer strategies
• Use of trusts in succession planning
• Post-mortem planning
• Planning for the potential of using long-term health care

About our Speakers

Roger McEowen, JD, is the Leonard Dolezal Professor in Agricultural Law at Iowa State University in Ames, Iowa, where he is also the Director of the ISU Center for Agricultural Law and Taxation. He develops and conducts an educational program in agricultural law and policy and is responsible for developing the curriculum and instructional program for the Iowa Farm Income Tax Schools. Professor McEowen conducts approximately 80–100 seminars annually across the United States for farmers, agricultural business professionals, lawyers, and other tax professionals.

Rich Walden, CPA, has served as chapter author and reviewer of the University of Illinois Federal Tax Workbook, and has been an instructor with the Illinois Tax Schools and Agricultural Issues Seminars since 1982. A graduate of Blackburn College, Rich was employed by the IRS as a revenue agent for 6.5 years. He owns a private practice in Carlinville, IL and serves in various board member roles for several banks, a software company and a community hospital.

Seminar Agenda

Farm Succession Planning Agenda

Learning Objectives, Materials, etc.

Learning Objectives: By attending this seminar, you will be able to:

• Compare and contrast various farm entity types
• Review considerations when choosing a business structure for the farm
• Discuss strategies for equitable treatment of heirs not in the farming business
• Identify asset transfer strategies
• Review the use of trusts in farm succession planning
• Explain post-mortem planning strategies
• Evaluate potential long-term care planning needs

CPE Credits: Up to 8 CPE credits, based on the length of your attendance.

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience preparing tax returns and familiarity with farm estate and business planning.

Advanced Preparation: None

Working With Your Client from Prep to Rep (Last Offered in 2012)

About the Seminar

As a registered tax practitioner, you are called upon to not only best prepare your clients' taxes but to also represent them in the case of an audit. Let's be honest — some clients are easier to deal with than others. But what strategies do you use with clients who withhold information, provide false figures, or ask you to be dishonest?

In this 1-day hands-on workshop, you will explore and analyze issues related to representation before the IRS. This session engages you in discussions, decision making and commentary that follow a taxpayer's and representative's plight beginning with the preparation of a return, proceeding through the audit, and investigative and collection processes. Throughout the workshop you are confronted with procedural, substantive, ethical, and practical issues that tax professionals often face. Learn to resolve realistic preparation, audit and collection issues. Enhance your skills as you explore, critique and solve practical problems facing those who prepare returns and represent taxpayers before the IRS.

About our Speaker

Theodore A. Sinars, J.D. is a partner in the Chicago tax law firm of Madden, Jiganti, Moore & Sinars. For over 40 years, his areas of concentration include IRS civil and criminal taxation, procedure and litigation including civil audits, Appeals, Tax Court, criminal tax investigations, IRS and Department of Justice Tax Division review, United States Attorneys Office and federal district court and appellate matters. Mr. Sinars is an Adjunct Professor of Law, Masters Tax Program, at DePaul University Graduate School of Law. He is a frequent speaker and author on tax matters for many professional organizations including The National Tax Practice Institute, the Chicago, Federal and American Bar Associations, Illinois Institute for Continuing Legal Education, the IRS/Tax Practitioner Symposium and CPA, accountant and enrolled agent organizations throughout the United States. He has been a guest speaker of the IRS at its agent training programs and has testified before Congress in federal taxation matters. He serves as Chairman of the IRS Illinois IRS/Practitioner Liaison Committee. Mr. Sinars is a past chairman of the Chicago Bar Association's Federal Taxation Committee and he has been a member of the executive committee for over 15 years. He is a past president of the Federal Bar Association, Chicago Chapter and continues to sit on its board of directors.

Seminar Agenda

Prep To Rep Seminar Agenda

Learning Objectives, Materials, etc.

Learning Objectives: By attending this seminar, you will be able to:

• Resolve preparation issues involving:
  • Taxpayers who withhold information from the preparer
  • Due diligence
  • Standards of inquiry
  • Preparer penalties
  • Liability exposure
• Make decisions involving examination issues including:
  • IRS audit techniques
  • Practitioner involvement in the audit
  • Ethics and disclosure
  • Client participation
• Deal with collection issues involving:
  • Clients who cannot or are reluctant to pay
  • Asset protection strategies
  • Offers in compromise
  • IRS disclosure policies

Materials: All attendees will receive seminar materials that cover:

• IRS Notice of Audit
  • Information Document Request
  • IRS Publication
  • Customer Feedback Form 10004
  • Form 4822
• IRS Letter 950
  • Examination Report
  • Cash Flow Analysis
  • Form 482 — Completed
• Revised Collection Standards
  • Form 433-A
  • Form 433-B
  • Final Notice — Notice of Intent to Levy and Notice of Your Right to a Hearing
• Breakout Questions
• Circular 230 (in Part)
• IRS Due Diligence Position and Penalties Imposed

CPE Credits: Up to 8 CPE credits, based on the length of your attendance. (EAs and RTRPs: IRS-approved for 4 hours Ethics and 4 hours Federal Tax)

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes, Regulatory Ethics

Prerequisite(s): Experience in preparing tax returns and familiarity with IRS audits of client returns

Advanced Preparation: None

Farm Estate & Business Planning Seminar (Last offered in 2011)

About the Seminar

Why you should attend...

• Provide up-to-date estate planning advice to your clients
• Understand the impact of asset valuation
• Provide strategies for asset protection

This one-day seminar will give you the information necessary to help your clients prepare to transfer their assets from one generation to another. Professor McEowen is very popular with farm tax preparers because of his active involvement in all agricultural issues. This seminar provides an in-depth look at estate planning issues including practical issues in discounting asset values, post-death IRA distributions, asset protection strategies, and entity selection issues.

Participants will receive a copy of the latest version of Professor McEowen's 200-page manual, Estate and Business Planning. Topics include:

• Estate planning for 2011-2012: election for 2010 estates, portability of the estate and gift tax exclusion, gifting strategies for 2011 and 2012, planning implications of the act, fiduciary income tax for estates and trusts, a summary of the estate planning implications of the act and estate planning in conjunction with special use valuation
• Practical issues in asset valuation discounting
• Post-death IRA distributions
• Current developments in estate planning
• Asset protection strategies
• Entity selection issues

About our Speaker

Roger McEowen, JD, is the Leonard Dolezal Professor in Agricultural Law at Iowa State University (ISU) in Ames, Iowa, where he is also the Director of the ISU Center for Agricultural Law and Taxation. He develops and conducts an educational program in agricultural law and policy and is responsible for developing the curriculum and instructional program for the Iowa Farm Income Tax Schools. Professor McEowen conducts approximately 80-100 seminars annually across the United States for farmers, agricultural business professionals, lawyers, and other tax professionals.

Seminar Agenda

Seminar Agenda PDF

Learning Objectives, Materials, etc.

Learning Objectives: By attending this seminar, you will be able to:

• Assist clients with estate planning for 2011-2012 using provisions under the 2010 Tax Relief Act
• Apply strategies for discounting asset values in farm estate plans
• Explain taxation issues for post-death IRA distributions
• Discuss asset protection strategies for farm clients
• Review entity selection issues for farm taxpayers

Materials: Each participant will receive a copy of Professor McEowen's 200-page book, Estate and Business Planning.

CPE Credits: Up to 8 CPE credits, based on the length of your attendance.

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience with farm estate and business planning

Advanced Preparation: None

Why LLC Status Matters: Partnership vs. S Corporation (Last offered in 2011)

About the Seminar

Why you should attend...

• Explain options to C corporation clients who want to escape the high corporate tax climate in Illinois
• Build your knowledge about LLC taxation options in order to best advise your clients
• Gain perspective on how the Tax Code treats LLCs, partnerships and S corporations

With the increase in Illinois corporate income taxes, the state anticipates that many corporations will change their entity classification from C corporation to LLC. Making such a change can have significant tax consequences.

During this two-day seminar, LLCs taxed as partnerships will be compared with LLCs taxed as S corporations. Depending on the circumstances, either status can be beneficial. By attending this seminar, you can better advise your clients about utilizing various LLC tax options to their advantage.

Textbook chapters include:

• LLC formation
• LLC operations
• Distributions for an LLC
• Sale of a member interest
• Withdrawal of a member
• Death of a member

Each chapter is presented from both a partnership and an S corporation perspective.

About our Speakers

Seminar Agenda

Seminar Agenda PDF

Errata

LLC Book Errata PDF

PowerPoint Handouts

PowerPoint Handouts PDF Note: Printed copies will NOT be provided onsite.

Learning Objectives, Materials, etc.

Learning Objectives: By attending this seminar, you will be able to:

• Discuss advantages of LLC protection compared to the liability protection of a straight partnership or S corporation
• Advise clients about the consequences of converting a C corporation to an LLC
• Clarify for your clients how the Tax Code deals with S corporations, partnerships and LLCs during each entity's life cycle
• Describe the tax consequences associated with LLCs electing either partnership or S corporation status, throughout the entity's life cycle.

Materials: Each participant will receive a copy of the book, Limited Liability Companies: Electing Partnership vs S Corporation Status, published 2011 by The University of Illinois Tax School.

CPE Credits: Up to 16 CPE credits, based on the length of your attendance.

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience preparing entity tax returns and an understanding of basic partnership and S Corporation taxation tax rules and regulations.

Advanced Preparation: None

Key Farm Tax Issues for Practitioners and Their Clients (Last offered in 2010)

Topics

This one-day seminar focuses on today's key issues in farm taxation. This seminar will benefit anyone that prepares a farm tax return, whether their client is an active farmer or a rural investor. Prof. McEowen is very popular with farm tax preparers because of his active involvement with all agricultural issues. He will be discussing any late breaking issues as well as the topics shown below. The Agricutural Issues and Rural Investments chapter from the 2010 Federal Tax Workbook will also be covered.

Topics include:

• Qualified production activities deduction as applied to agricultural cooperatives and their patrons
• Prepaid expense limitations
• Drawing the line between capital expenses and repairs
• Tax aspects of gifting commodities
• NOL carryback rules specific to agriculture
• Tax shelter farm rules
• Information reporting issues
• And more...

About our Speaker

Roger A McEowen, J.D., is the Leonard Dolezal Professor in Agricultural Law at Iowa State University in Ames, Iowa, where he is also the Director of the ISU Center for Agricultural Law and Taxation. He develops and conducts an educational program in agricultural law and policy and is responsible for developing the curriculum and instructional program for the Iowa Farm Income Tax Schools. Professor McEowen conducts approximately 80-100 seminars annually across the United States for farmers, agricultural business professionals, lawyers, and other tax professionals.

Seminar Agenda

Agenda for Key Farm Tax Issues for Practitioners and Their Clients

Learning Objectives, Materials and More

Learning Objectives: By attending this seminar, you will be able to:

• Accurately compute the IRC §199 deduction.
• Unravel the mysteries of an NOL as it relates to your farm client.
• Distinguish between capital expenses and repairs.
• Provide better tax planning for your clients.

Materials: Each participant receives a copy of the Agricultural and Rural Investment Issues chapter of the 2010 Federal Tax Workbook and a manual prepared by Professor McEowen covering all the topics presented at this seminar.

CPE Credits: Up to 8 CPE credits, based on the length of your attendance.

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations.

Advanced Preparation: None

Social Security Planning: Preparing for the Silver Tsnunami (Last offered in 2010)

Topics

The Social Security system is about to be put to the ultimate test as the Baby Boomers begin retiring. This one-day seminar will give you the tools to best advise these clients on developing and implementing a comprehensive plan for drawing Social Security benefits.

Tax practitioners will also personally benefit from the information presented at this seminar.

This one-day seminar helps tax practitioners craft the correct social security plan or strategy for their clients. Tax practitioners will also personally benefit from the information presented at this seminar.

Topics include:

• An overview of governmental influences on social security benefits
• Considerations for an appropriate social security strategy
• Social security strategies for the younger earners, middle-aged earners, and those approaching retirement
• How to apply for social security benefits
• Tax planning strategies for the self-employed
• Planning strategies for those receiving commodity wages
• Social security planning strategies for corporations and partnerships including the impact of fringe benefits

About our Speaker

Ronald Woltjer, EA owns and operates a diversified investment, consulting and financial services practice in Little Falls, Minnesota. He also holds a position as Principal Tax Specialist and Senior Business Consultant with Agstar Financial Services in Minnesota. His social security specialization includes authoring three books and a software product that tracks interactions with the social security system from cradle to grave. His materials have been used nationally by more than 100,000 tax and finance professionals.

Seminar Agenda

Agenda for Social Security Planning

Learning Objectives, Materials and More

Learning Objectives: By attending this seminar, you will be able to:

• Describe various government programs and their impact upon social security benefits.
• Explain the formulas and computations used to arrive at the social security benefit
• Discuss the impact of the new health care bill on social security and Medicare benefits for seniors
• Develop appropriate strategies for maximizing social security benefits
• Advise clients about tax planning strategies for social security benefits that are appropriate to their situation

Materials: Each participant receives a workbook prepared by Mr. Woltjer covering all the topics presented at this seminar.

CPE Credits: Up to 8 CPE credits, based on the length of your attendance.

Delivery Method: Group-Live Presentation

Program Level: Basic to Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations.

Advanced Preparation: None

Strategies for Today's Economy (Last offered in 2009)

Many of your clients are experiencing economic hardship. Some want to take advantage of financial opportunities. They all come to you with questions. This symposium gives you the tools to answer their questions.

• Economic hardship doesn't need to derail your client's retirement plan
• Special 2009 tax rules provide great opportunities for current homeowners and buyers
• The truth about reverse mortgages
• When does long-term care insurance make sense, and is it deductible?

CPE Credit: Up to 8 CPE credits, based on the length of your attendance.

About our Topics and Speakers

Tax Implications of Advising Clients in Good Times... and Bad

Gary J. Hoff, EA, Extension Specialist in taxation at the University of Illinois, will explain recent tax implications related to the strategies presented by the other speakers. He will be speaking throughout the day following each speaker's presentation.

Each personal finance topic covered throughout the day has tax implications associated with it. Tax ramifications affect advice preparers give to clients. Examples of topical areas affected by tax law are:

• Tax requirements that must be satisfied in order to be considered a first-time homebuyer
• Using the buyer's credit as part of the down payment
• Home mortgage debt forgiveness
• Tax rules pertaining to the purchase of LTC insurance and the payments received to cover care when it's needed
• Tax law changes in the RMD rules
• Tax consequences of IRA conversions
• Rental real estate as a tax shelter

Home Ownership: A Major Asset

Kathy Sweedler, is a Visiting Extension Educator for Consumer and Family Economics at the University of Illinois Champaign Extension Office. Kathy specializes in financial planning and consumer credit issues.

What do you tell clients who ask whether they can afford to purchase a home, or who want to refinance with an ARM, or who want to pull equity out of their home for living expenses?

The current economic situation and the first-time homebuyer credit provide unique opportunities for homeowners. Low interest rates and falling home prices may allow some people to buy their first home or add to their real estate portfolio. Low interest rates—and a better understanding of some of the drawbacks of ARMs—may motivate current homeowners to refinance their loans. Older adults, who may have recently experienced a significant decline in their investment portfolios and investment income, may consider using their home equity to provide cash for daily needs. Others may face losing a significant asset through foreclosure. This session examines your clients' homeownership questions and explores resources they need to find answers. Each participant receives a CD containing decision-making software to help clients answer homeownership affordability questions.

Retirement Planning Issues

Karen Chan, CFP, is an Extension Educator for Consumer and Family Economics at the University of Illinois Countryside Extension Office. Karen specializes in both retirement planning and tax breaks for higher education.

With the value of investment accounts down and unemployment levels high, it's more important than ever for clients to make wise decisions about their retirement savings. This session provides examples and a checklist for tax advisors to use with clients. Topics include:

• Employer matching contributions
• Vesting
• Selection of traditional versus Roth IRA plans
• Handling of preretirement distributions
• Pension benefit formulas
• Government pensions and social security benefits

Financing Options for Long-Term Care

Paul McNamara, MPP, PhD, is an Extension Specialist and Associate Professor of Agricultural and Consumer Economics at the University of Illinois at Urbana-Champaign. One of Paul's research interests is the economic analysis of long-term care insurance issues.

People need help planning for long-term care needs. The most common question is, "Do I need long-term care insurance?" The workshop provides unbiased, quality information about long-term care financing options. Without good information, research indicates people may fail to plan or may make poor financial decisions, such as buying long-term care insurance that they cannot afford to maintain. Also, planning ahead provides people with more financial options. This session discusses the financing options available and the pros and cons of each.

Seminar Agenda

Learning Objectives

Participants will be able to:

• Evaluate home ownership decisions.
• Guide clients through decisions about retirement plans and IRAs.
• Advise clients about their financing options for future long-term care needs.
• Identify tax changes available under the ARRA that clients can use to improve their financial situation.
• Help clients recover or benefit from the financial downturn.

Materials: Each registrant receives a CD containing software that compares home prices and interest rates with a client's cash flow (a $25 value), and other written materials.

Delivery Method: Group-Live Presentation

Program Level: Basic to Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations

Advanced Preparation: None

Advanced S Corporation Issues (Last offered in 2009)

IRS Responds to Abuse Concerns with Increased 1120S Audits

Don't miss a chance to hear a nationally-recognized taxation expert present an advanced course on S corporation issues.

• What does the IRS plan to inspect when they audit your client?
• What factors should be considered when determining whether an LLC should "check the box" and make an S election?
• What types of trusts (including ESBTs and QSSTs) are allowed to own S corporation stock?
• How much shareholder compensation is enough?
• When is a fringe benefit taxable?
• How is the built-in gains tax avoided when a conversion takes place?
• How should one treat payment of life insurance premiums and charitable contributions?
• Can one avoid CODI if a shareholder converts a loan into a capital contribution?
• When should a §338(h)(10) election be considered?

CPE Credit: Up to 8 CPE credits, based on the length of your attendance.

About our Speaker

Mark A. Vogel, JD, LLM, CPA, is Associate Professor of Taxation and Director of the Graduate Tax Program at the University of Denver. Professor Vogel is a frequent speaker at conferences and seminars on taxation. He is co-chair of the Denver Tax Institute and a member of the Illinois Society of CPAs. He is an author and frequent contributor to textbooks and journals.

Seminar Agenda

Learning Objectives

By attending this seminar, you will be able to:

• Prepare your clients for S corporation audits based upon what the IRS teaches revenue agents to examine.
• Be aware of the factors to consider when advising a client whether to check the box and make an S election.
• Identify problems to consider if advising a client to establish an ESBT or QSST.
• Analyze whether your S corporation clients are receiving adequate compensation.
• Plan for optimal utilization of fringe benefits, including health insurance premiums.
• Identify strategies to minimize the built-in gains tax on C corporation conversions.
• Optimize distributions to avoid problems with AAA and sub C E&P.
• Identify strategies to employ when a shareholder disposes of an interest in an S corporation.

Materials: Each registrant receives a CD containing a 700-page S corporation textbook and a copy of Professor Vogel’s PowerPoint slides.

Delivery Method: Group-Live Presentation

Program Level: Advanced

Field of Study: Taxes

Prerequisite(s): Experience preparing S corporation tax returns and an understanding of basic tax rules and regulations

Advanced Preparation: None

Agricultural Taxation Symposium (Last offered in 2009)

Advise, Select, Prepare, Complete

This one-day seminar brings together experts to discuss topics including:

• Handling farm litigation and IRS tax liens
• Impact of the 2008 Farm Bill on entity selection
• Government money available for young farmers to purchase land
• Yet unpublished Farm Audit Training Guide

CPE Credit: Up to 8 CPE credits, based on attendance.

About our Speakers

Lawrence Crosby, JD, practices agricultural law in the Upper Midwest from Saint Paul, MN. He has litigated against the IRS and other federal farm-related agencies and he has extensive appellate experience.

Stan W. Wilson is Chief Agricultural Program Specialist for the USDA-FSA in the Springfield Office. One of his current responsibilities is farm program payment limitations and payment eligibility.

Jeff Koch is Farm Loan Chief for the Illinois Farm Service Agency in Springfield, Illinois. In this position, he has responsibilities for direction and oversight of the farm loan program.

Gary Hoff, EA, is Extension Specialist, Taxation at the University of Illinois Tax School. He is the author of numerous tax education materials and is the editor of the annual Federal Tax Workbook which is used each fall at the University of Illinois Tax School. Gary is a member of the IRS's Pub. 225, Farmer's Tax Guide Committee.

Seminar Agenda

Learning Objectives

By attending this seminar, you will be able to:

• Advise your farm clients when it is appropriate to seek legal counsel and go to court.
• Determine which entity is the best choice taking into consideration the impact of the 2008 Farm Bill.
• Inform your young farm clients about government money available to purchase land.
• Prepare for farm audits using the unpublished Farm Audit Training Guide.

Delivery Method: Group-Live Presentation

Program Level: Basic to Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations

Advanced Preparation: None

Tax-Exempt Organizations: 2009 - A Year of Change (Last offered in 2008)

If you thought the IRS Form 990, Return of Organization Exempt from Income Tax, was confusing before, wait until you see the completely revised 2008 version!

Errors made on the new, lengthier Form 990 could cause your client to lose its exempt status.

The seminar also focuses on other ways your clients might lose tax-exempt status. In addition, presenters will discuss the differences between private foundations and public charities.

This is your opportunity to hear from the IRS, as well as a practicing attorney who specializes in exempt organization problems.

CPE Credit: Up to 8 CPE credits, based on attendance.

About our Speakers

Joyce Hoover has been with the IRS for over 15 years. She is a senior exempt organization reviewer.

Stephen Clarke, J.D., has been a tax law specialist with the IRS since 2005. He currently serves as Project Manager for the IRS Form 990 redesign.

Michael Clark, J.D., is a partner in the Chicago office of Sidley Austin LLP. His practice focuses on advising tax-exempt organizations and representing them before the IRS.

Seminar Agenda

Learning Objectives

By attending this seminar, you will be able to:

• Identify activities that jeopardize your clients' exempt status
• Analyze the differences between a private foundation and a public charity and review classification issues
• Familiarize yourself with the new Form 990 and information required of exempt organizations

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations

Advanced Preparation: None

Agricultural Taxation Symposium (Last offered in 2008)

Counseling Farmers in Today's Environment

This one-day seminar brings together experts to discuss topics including:

• Tax aspects of the 2008 Farm Bill
• Tax planning strategies for high income years
• Analyzing cash rents and land prices
• Preparing for increased farm income tax audits

CPE Credit: Up to 8 CPE credits, based on attendance.

About our Speakers

Dale Lattz, Paul Ellinger, Ph.D., and Gary Schnitkey, Ph.D., are University of Illinois Agricultural Economists who specialize in cash rent and farm land values.

Robert Rhea, E.A., assists farmers with accounting, tax and consulting services in west-central Illinois through the University of Illinois Farm Business Farm Management program. He writes and reviews materials for the annual Federal Tax Workbook used at the University of Illinois Tax Schools. He is the Executive Director of the National Association of Farm Business Analysis Specialists.

Richard Walden, C.P.A., owns a private tax and accounting practice in Carlinville, Illinois. He writes and reviews materials for the annual Federal Tax Workbook used at the University of Illinois Tax Schools. He also teaches for the Illinois Tax School and at Agricultural Tax Issues Seminars.

Darrell Dunteman is a partner in Bonnett and Dunteman, CPAs and Consultants. Dunteman worked for the Illinois FBFM Association before establishing his own private practice. Dunteman is a frequent contributor to Farm Futures, Illinois Prairie Farmer, and Dairy Herd Management, and publishes the Farm and Ranch Tax Guide. He is co-author of the Ag Executive Farm and Ranch Lease Guide.

Seminar Agenda

Learning Objectives

By attending this seminar, you will be able to:

• Identify provisions of the 2008 Farm Bill that apply to your clients
• Provide high income tax planning tips to your clients
• Analyze what a farmer can afford to pay considering high cash rent and farm land prices
• Plan for increasing farm income tax audits

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations

Advanced Preparation: None

An Accountant's Guide to Like-Kind Exchanges (Last offered in 2008)

• A 223% increase in §1031 exchanges between 1998 and 2004 has increased IRS scrutiny
• Congress allocated an additional $337 million to IRS enforcement
  (7% increase)
• The IRS is now more likely to assess preparer penalties
• Clients want someone else to pay the tax bill for failed exchanges... Don't be that person!!

CPE Credit

Up to 8 CPE credits, based on attendance.

Course Materials

An Accountant's Guide to Like-Kind Exchanges, 2008 edition, by Gary Hoff, EA.

About our Speakers

Gary J. Hoff, EA is an Extension Specialist in Taxation at the University of Illinois Tax School. He is the author of numerous tax education materials, including LLCs Taxed as Partnerships: Formation to Dissolution. He is the editor of the annual Federal Tax Workbook used during the Fall Tax School offered by the University of Illinois Tax School. He presents tax topics nationally, specializing in Agricultural Taxation and Business Taxation topics. Additionally, Gary has over 30 years experience preparing tax returns.

Tom O'Saben has been a Certified Financial Planner (CFP) since 1993 and an Enrolled Agent (EA) since 1994. Along with a staff of four, Tom's practice (established in 1992) provides tax, accounting, and financial planning services for approximately 1,000 clients. Tom is also an instructor for NATP and the University of Illinois Fall Tax School.

Seminar Agenda

Learning Objectives

Participants will be able to:

• Discuss advantages and disadvantages of like-kind exchanges.
• Describe IRC §1031 and the requirements for tax deferred exchanges, including reporting on Form 8824.
• Complete value-debt-equity calculations associated with like-kind exchanges.
• Calculate replacement property depreciation.

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations

Advanced Preparation: None

Successful College Funding: A Tax Professional's Guide (Last Offered in 2007)

College costs continue to rise

Your clients need tools to successfully plan for education funding.

• Are you maximizing education tax benefits for your clients?
• Can you help your clients understand and capitalize on tax benefits associated with college funding?
• Do you know how existing tax benefits interact with the financial aid process?

CPE Credit

Up to 8 CPE credits, based on attendance.

Course Materials

Success Strategies for College Funding: a Guide for Tax Professionals, a 300 page reference manual

About our Speaker

Alice Orzechowski, CPA, CMA, EA is a nationally-recognized speaker and expert on college funding strategies. She is the author of 101 Tips for Maximizing College Financial Aid, Tax Planning for College Expenses and Tax Incentives for Paying/Saving for College. Alice owns Financial Education Institute, LLC, a tax education business.

Seminar Agenda

Learning Objectives

Participants will be able to:

• Analyze the financial aid process
• Maximize education tax benefits for your clients
• Explore tax advantaged ways to save for college
• Discuss tax implications of scholarships, grants, gifts and alternative ways to pay for college

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations

Advanced Preparation: None

LLCs Taxed as Partnerships - Formation to Dissolution (Last Offered in 2007)

• Are most of your LLC clients subject to the partnership taxation rules?
• Do you know the difference between an IRC §743(b) adjustment and a §734(b) adjustment?
• Do you give your clients the advantage of a §754 election?

CPE Credit

Up to 16 CPE credits, based on attendance.

Course Materials

LLCs Taxed as Partnerships: Formation to Dissolutions, 2007 Edition, a 200 page reference manual, by Gary Hoff, EA.

About our Speakers

Gary J. Hoff, EA is an Extension Specialist in Taxation at the University of Illinois Tax School. He is the author of numerous tax education materials, including LLCs Taxed as Partnerships: Formation to Dissolution. He is the editor of the annual Federal Tax Workbook used during the Fall Tax School offered by the University of Illinois Tax School. He presents tax topics nationally, specializing in Agricultural Taxation and Business Taxation topics. Additionally, Gary has over 30 years experience preparing tax returns.

Sue Voth, EA is a nationally-recognized tax education presenter. She is an author and technical reviewer for the annual Federal Tax Workbook and is also an instructor for the Fall Tax School. Sue owns a tax and accounting practice in Quincy, Illinois.

Seminar Agenda

Learning Objectives

Participants will be able to:

• Apply subchapter K provisions to various stages of the LLC lifecycle
• Complete partnership forms and schedules
• Calculate basis and basis adjustments
• Describe tax consequences for transfer of interest due to sale, death, or retirement
• Identify when IRD is recognized

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations

Advanced Preparation: None

Agricultural Taxation Symposium (Last Offered in 2007)

Make sense of tax opportunities for your farm clients!

This one-day seminar brings experts together to discuss topics including:

• Farm Estate Planning
• Farm Government Programs in the 2007 Farm Bill
• Like-Kind Exchanges
• Common Tax Traps and Ag related Rulings and Cases

CPE Credit

Up to 8 CPE credits, based on attendance.

About our Speakers

Mike Barton, JD is a member of Bellatti, Barton, Hamill & Cochran, LLC in Springfield, Illinois. He practices in the areas of Farm Law; Income Tax; Estate and Gift Taxation; Business Planning Law; Probate Law; Trust Law.

Robert Thompson, PhD is Gardner Chair in Agricultural Policy at the University of Illinois. He serves on the USDA-USTR Agricultural Policy Advisory Committee for Trade and as Chairman of the International Food and Agricultural Trade Policy Council.

Bob Rhea, EA assists farmers with accounting, tax, and consulting services in west-central Illinois through the University of Illinois FBFM program. He writes and reviews materials for the annual Federal Tax Workbook used at the University of Illinois Tax Schools, and occasionally teaches at the Fall Tax Schools. Bob is the national executive director for his professional organization, NAFBAS.

Gary Hoff, EA is Extension Specialist, Taxation at the University of Illinois Tax School. He is the author of numerous tax education materials and is the editor of the annual Federal Tax Workbook. Gary has over 30 years experience preparing tax returns.

Rich Walden, CPA owns a private tax and accounting practice in Carlinville, and serves on several bank boards. He writes and reviews materials for the annual Federal Tax Workbook. He also teaches for the University of Illinois Tax School and at Agricultural Tax Issues Seminars.

Seminar Agenda

Learning Objectives

Participants will be able to:

• Discuss how accountants can collaborate with a client's attorney during estate planning
• Review current developments in farm estate planning
• Analyze the tax implications for the anticipated 2007 Farm Bill
• Describe tax consequences for like-kind exchanges in which your farm client might be involved
• Identify common tax traps for farmers
• Review recent court cases and IRS rulings affecting farmers

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations

Advanced Preparation: None

Form 1041 Essentials: Trusts and Estates (Last Offered in 2006)

Do You Know the Difference Between Form 1041 for an Estate and for a Trust?

• Which box do you check?
• What if you check the wrong box?
• How do the rules differ?

Participants will learn about:

• Preparation of Form 1040 for decedent's final return
• Preparation of Form 1041 for trusts and estates
• How to calculate correct distribution amounts
• To understand and work with Grantor Trusts

CPE Credit

Up to 8 hours, based on attendance.

Course Materials

Introduction to Income Taxation of Estates and Trusts, by William Kulsrud, PhD, CPA

About our Speaker

William Kulsrud specializes in federal income taxes for corporations and individuals and is a member of the editorial boards of the Tax Advisor, Journal of Accountancy, and the Journal of the American Taxation Association. He is also the author and editor of four textbooks on taxation. Dr. Kulsrud is Chairperson of the Indiana University's MPA Program in the Kelley School of Business and an Associate Professor of Accounting.

Seminar Agenda

Learning Objectives

Participants will be able to:

• Prepare Form 1040 for decedent's final return
• Prepare Form 1041 for trusts and estates
• Calculate correct distribution amounts
• Understand and work with Grantor Trusts

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite: Familiarity with Form 1041

Advanced Preparation: None

Advising Your Aging Clients: Tax and Beyond (Last Offered in 2006)

Help Your Aging Clients Chart Their Future!

Aging issues expert, Julie Steinbacher, provides advice on how to help your clients address essential issues facing the aging population.

Participants will learn about:

• Basic estate planning documents that are needed for their clients
• Retirement planning options and their tax implications for clients
• Issues regarding long-term care options and their tax implications for clients
• Types of trusts and available public benefits that clients can use to pay for care needed during retirement years
• Advising clients on gifting issues and completing Form 709

CPE Credit

Up to 8 hours, based on attendance

About our Speaker

Julieanne E. Steinbacher is an attorney with a BS in Gerontology. A significant portion of her practice at Steinbacher Law Firm is Elder Law. Her areas of practice include Wills, Powers of Attorney, Trusts, Estates, Medicare/Medicaid, Nursing Home Law, Disability Law, and Enforcement Litigation. Prior to becoming an attorney, she was employed by AARP and as a social worker at Valley View Nursing Facility. She has been a speaker for Penn State Tax Institutes and Tax Week, PICPA - Pennsylvania Institute of Certified Public Accountants, National Association of Tax Practitioners - PA Chapter, and Pennsylvania Society of Public Accountants.

Seminar Agenda

Learning Objectives

Participants will be able to:

• Explain basic estate planning documents to their clients
• Describe retirement planning options and their tax implications to their clients
• Clarify issues regarding long-term care options and their tax implications for their clients
• Review types of trusts and available public benefits that clients can use to pay for needed care during retirement years
• Advise clients on gifting issues and complete Form 709.

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite: Interest in advising clients as they age

Advanced Preparation: None

Farm Income Taxation (Last Offered in 2006)

Join nationally recognized expert, Roger McEowen in this seminar that will help the farm tax professional effectively plan and prepare returns for his farm clients.

A few of the timely topics he will discuss include:

• Correctly calculate and apply the manufacturing deduction (IRC Sec. 199)
• Adeptly manage spousal rental arrangements to avoid self-employment tax issues
• Analyze the tax issues associated with the sale of a farm
• Understand passive loss issues and apply to farm entities
• Revisit the farm medical expense reimbursement deduction in light of the Speltz case.

CPE Credit

Up to 8 hours, based on attendance.

Delivery Method: Group-Live Presentation

Program Level: Intermediate

Field of Study: Taxes

Prerequisite: Experience preparing farm returns

Advanced Preparation: None

The Complete Guide to IRC §199: Maximizing Your Client's Share of the $76 Billion §199 Benefit (Last Offered in 2006)

Have YOU ignored IRC §199 because the regulations

• Are unclear,
• Are incomplete, or
• Were issued too late to interpret for your clients?

Do YOU believe these following myths?

• It takes too long to calculate the §199 deduction.
• It's not worth the fee I would have to charge.
• This doesn't apply to my clients.

If so, make sure your liability insurance is up to date!!

CPE Credit

Up to 8 hours, based on attendance.

Course Materials

Practical Guide to the Sect. 199 Deduction, by James Kehl, CPA, published by CCH, 2006 (a $95 value!)

About our Speaker

James M. Kehl, CPA, is the author of CCH's popular new book Practical Guide to the Sec. 199 Deduction. He has also authored several tax articles that have been published in professional tax magazines, including recent articles on the new Section 199 manufacturing deduction CCH's TAXES: The Tax Magazine and the Journal of Passthrough Entities. He was the instructor for two interactive seminars sponsored by CCH on Code Section 199 and has also published an article concerning allocating costs under Code Section 199 in the Daily Tax Report.

Kehl has more than 33 years of public accounting experience with a concentration on taxation. While at a Big Eight firm, he authored an internal firm-wide manual on Section 1031 exchanges. He has taught courses in taxation for numerous professional societies and private firms.

Kehl is a partner in the accounting firm of Meehan & Roby in Timonium, Maryland. He received a B.A. in accounting from Loyola College of Baltimore and received a Masters of Science in Taxation from the University of Baltimore.

Seminar Agenda

Learning Objectives

Participants will be able to:

1. Quickly recognize situations where §199 applies.
2. Calculate the §199 deduction using case studies from various industries.
3. Maximize the §199 benefit for clients.

Delivery Method: Group-Live Presentation

Program Level: Advanced

Field of Study: Taxes

Prerequisite: Familiarity with IRC §199

Advanced Preparation: None

Modified: May 20, 2012

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