Agenda – TPI
Register now
- 7:00 AM - 7:45 AM
REGISTRATION and COFFEE
- 7:45 AM - 8:00 AM
Opening Remarks
Rick NadeauSCORE Maine - 8:00 AM - 8:50 AM
TCJA implementation after one year – practical hands-on examples (Part 1)
The presentation will feature an overview of 199A, including what constitutes qualified business income for the deduction and how the deduction is determined. We will look at applicable thresholds, specified service businesses vs. non-specified service businesses, phase-out ranges and aggregation. Following the overview, we’ll dive into a series of examples based on both practitioner observations from the 2018 tax filing season and the 199A regulations.
Portland: James Cardosi WIPFLi MacpageAugusta & Brewer: Michael SantoWIPFLi Macpage - 8:55 AM - 9:45 AM
TCJA implementation after one year – practical hands-on examples (Part 2)
The presentation will feature an overview of 199A, including what constitutes qualified business income for the deduction and how the deduction is determined. We will look at applicable thresholds, specified service businesses vs. non-specified service businesses, phase-out ranges and aggregation. Following the overview, we’ll dive into a series of examples based on both practitioner observations from the 2018 tax filing season and the 199A regulations.
Portland: James Cardosi WIPFLi MacpageAugusta & Brewer: Michael SantoWIPFLi Macpage - 9:45 AM - 9:55 AM
Break
- 9:55 AM - 10:45 AM
IRS Update
This session will focus on IRS updates regarding key areas that are of utmost importance to the tax professional community. We will discuss the following areas during this discussion: Data Security/ID Theft; Tax Scams; Sharing Economy; Tax Reform: Taxpayer Advocate Tax Reform Changes Website; Opportunity Zones; Paycheck Checkup; and more.
Shawn Savage, Stakeholder LiaisonInternal Revenue Service - 10:50 AM - 11:40 AM
MRS 2019 Income/Estate Tax Update
Lisa BlanchetteMaine Revenue ServicesJeffrey BragdonMaine Revenue Services - 11:45 AM - 12:35 PM
Lunch
- 12:35 PM - 1:35 PM
Ethics
D. Kelley Young, Attorney Troubh Heisler - 1:40 PM - 2:30 PM
Choosing & Funding a Retirement Plan for Your Small Business
Choosing, designing and funding a retirement plan for small businesses is often very low on the list of priorities for business owners. This presentation will illustrate the benefits of choosing and funding a retirement plan to meet each business and business owner’s unique circumstances. Retirement plan options are available to meet the tax needs, hiring and retention needs, funding needs of each business and of course the personal savings needs of the business owner(s).
Josh ChaseLebel & Harriman - 2:30 PM - 2:40 PM
Break
- 2:40 PM - 3:30 PM
Individual Tax Issues
James will discuss 4-5 discrete tax topics that come up frequently when preparing individual tax returns but which often don’t get enough discussion.
James WadeLaw Office of James Wade - 3:35 PM - 4:25 PM
Tax Issues in Selling Marijuana Products
The presentation will cover tax treatment of cannabis-related business, including the application of Section 280E. It will provide an overview of current cannabis tax treatment in Maine, as well as changes in state legislation. Finally, it will include an analysis on where the industry is heading, and identify opportunities for those providing support services to cannabis clients.
Brewer & Portland: Karla Brannen, CPAAlbin Randall & BennettAugusta: Hillary Lister Maine Matters - 4:25 PM - 4:45 PM
Hand out CE certificates
REGISTRATION and COFFEE
Opening Remarks
TCJA implementation after one year – practical hands-on examples (Part 1)
The presentation will feature an overview of 199A, including what constitutes qualified business income for the deduction and how the deduction is determined. We will look at applicable thresholds, specified service businesses vs. non-specified service businesses, phase-out ranges and aggregation. Following the overview, we’ll dive into a series of examples based on both practitioner observations from the 2018 tax filing season and the 199A regulations.
TCJA implementation after one year – practical hands-on examples (Part 2)
The presentation will feature an overview of 199A, including what constitutes qualified business income for the deduction and how the deduction is determined. We will look at applicable thresholds, specified service businesses vs. non-specified service businesses, phase-out ranges and aggregation. Following the overview, we’ll dive into a series of examples based on both practitioner observations from the 2018 tax filing season and the 199A regulations.
Break
IRS Update
This session will focus on IRS updates regarding key areas that are of utmost importance to the tax professional community. We will discuss the following areas during this discussion: Data Security/ID Theft; Tax Scams; Sharing Economy; Tax Reform: Taxpayer Advocate Tax Reform Changes Website; Opportunity Zones; Paycheck Checkup; and more.
MRS 2019 Income/Estate Tax Update
Lunch
Ethics
Choosing & Funding a Retirement Plan for Your Small Business
Choosing, designing and funding a retirement plan for small businesses is often very low on the list of priorities for business owners. This presentation will illustrate the benefits of choosing and funding a retirement plan to meet each business and business owner’s unique circumstances. Retirement plan options are available to meet the tax needs, hiring and retention needs, funding needs of each business and of course the personal savings needs of the business owner(s).
Break
Individual Tax Issues
James will discuss 4-5 discrete tax topics that come up frequently when preparing individual tax returns but which often don’t get enough discussion.
Tax Issues in Selling Marijuana Products
The presentation will cover tax treatment of cannabis-related business, including the application of Section 280E. It will provide an overview of current cannabis tax treatment in Maine, as well as changes in state legislation. Finally, it will include an analysis on where the industry is heading, and identify opportunities for those providing support services to cannabis clients.
Hand out CE certificates
On-line registration is encouraged.
Register now
If you plan to pay by check, please download the registration form, and mail it along with your check.
Maine Tax Workshops Advisory Team
We greatly appreciate the assistance of the Maine Tax Workshops Advisory Team in planning this agenda. Their experience with the chosen topics was a great resource for the SCORE planning team.
Daniel Doiron, CPA,CVA, Principal – Albin Randall & Bennett
Stuart Lyons, CPA, MST, MBA – Baker Newman Noyes
Christopher Stevenson, Esq. – Drummond Woodsum
Nelson Toner, Esq., Shareholder – Bernstein Shur Sawyer & Nelson