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Getting More Active with the Passive Activity Rules and the Net Investment Income Tax (PAIT)
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The net investment income tax has added critical planning instructions for individual clients. 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

10/28/2015
When: 10/28/2015
7:00 AM - 3:00 PM
Where: Webcast/Webinar
Contact: April Deneault
801-834-6634

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The net investment income tax has added critical planning instructions for individual clients. 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

 

Major Subjects: * 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

 

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

Prerequisite: Five or more years in public accounting working on complex individual tax returns

 

Advanced Prep: None

Speaker: Bill Harden, Ph.D., CPA, ChFC

Vendor: Surgent McCoy

Field of Study: Taxes (8)

Level: Intermediate

CPE Credit: 8 Hours

Acronym: PAIT

Registration Fees: $219.00

  

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