Agenda – TPI
2019 In-person event photo
Preliminary and Subject to Change Prior to the Event
Register
- 7:45 AM - 7:50 AM
VIRTUAL SESSION SIGN-IN
- 7:50 AM - 8:00 AM
Opening Announcements & Remarks
Tim Hobbs - Deputy District DirectorUS Small Business Administration’s Maine District Office - 8:00 AM - 8:55 AM
Overview of Key 1040 Issues and Hot Topics
This session will provide tax professionals with a review and update on Form 1040. Emphasis will be placed on areas of the form that cause confusion, such as expiring provisions and updates.
Kirk Purvis, Office Managing PartnerMarcum - 8:55 AM - 9:50 AM
Breakout Session – 2024 Maine Tax Update
This session focuses on reviewing changes to 2023 tax forms in Maine, discussing recent local tax legislation, and discussing tax planning strategies to consider before year-end. Although this session does not qualify for Federal Tax Credits, we still aim to provide information on Maine tax updates.
Jeff Bragdon, Tax Section Manager Maine Department of Revenue - 8:55 AM - 9:50 AM
Breakout Session – Overview of Key Topics and Issues related to Forms 1120 and 1065
This session will provide tax professionals with a review and update on Forms 1120 and 1065. Emphasis will be placed on areas of these forms that cause confusion, expiring provisions, and updates. This session qualifies for a Federal Tax Law CPE credit.
Michael Reeder, Managing PartnerReeder CPA Group - 10:00 AM - 10:55 AM
IRS Examination Priorities in 2024
This session will provide tax professionals with an update on the IRS examination priorities, including examples of current situations.
TBDTBD - 10:55 AM - 11:50 AM
Discussion of issues related to payroll taxes and employee classifications
Discussion of payroll tax filing requirements and timing, classification of exempt vs. non-exempt employees, and classification of employee vs. contractor status Qualified Small Employer HRAs.
Tammy Channell, Training CoordinatorBangor Payroll Debbie Higgins, Tax SupervisorBangor Payroll - 11:50 AM - 12:30 PM
Lunch Break
- 12:30 PM - 1:25 PM
Discussion of Schedule C Topics
Gain an understanding of specific Schedule C topics, including Self-employed health insurance deduction, home office deduction, business use of vehicles, and qualified business income deduction.
Jim Cardosi, Tax Senior ManagerWipfli - 1:25 PM - 2:20 PM
Filing gift tax returns and potential planning opportunities
Learning objectives include understanding the framework of the transfer tax system and what defines a taxable gift, identifying when a client might have a gift tax filing requirement, and knowing how to discuss gift and estate tax planning opportunities with clients.
Kelly Pelletier, Tax Senior ManagerBaker Newman & Noyes - 2:30 PM - 3:25 PM
Rental properties and AirBnB issues
In this session, we will discuss how Airbnb and VRBO rentals are handled compared to Apartment rentals, as well as cover the Real Estate Professional designation and how that can be achieved.
Jeff Hiatt, Director of Business Development MS Consultants - 3:25 PM - 4:30 PM
Ethics
This session will provide tax professionals with the basics of the IRS Office of Professional Responsibility, which is subject to Circular 230, what it means, and how practitioners might be penalized.
Timothy McCormallyIRS Office of Professional Responsibility - 4:30 PM
Adjourn
VIRTUAL SESSION SIGN-IN
Opening Announcements & Remarks
Overview of Key 1040 Issues and Hot Topics
This session will provide tax professionals with a review and update on Form 1040. Emphasis will be placed on areas of the form that cause confusion, such as expiring provisions and updates.
Breakout Session – 2024 Maine Tax Update
This session focuses on reviewing changes to 2023 tax forms in Maine, discussing recent local tax legislation, and discussing tax planning strategies to consider before year-end. Although this session does not qualify for Federal Tax Credits, we still aim to provide information on Maine tax updates.
Breakout Session – Overview of Key Topics and Issues related to Forms 1120 and 1065
This session will provide tax professionals with a review and update on Forms 1120 and 1065. Emphasis will be placed on areas of these forms that cause confusion, expiring provisions, and updates. This session qualifies for a Federal Tax Law CPE credit.
IRS Examination Priorities in 2024
This session will provide tax professionals with an update on the IRS examination priorities, including examples of current situations.
Discussion of issues related to payroll taxes and employee classifications
Discussion of payroll tax filing requirements and timing, classification of exempt vs. non-exempt employees, and classification of employee vs. contractor status Qualified Small Employer HRAs.
Lunch Break
Discussion of Schedule C Topics
Gain an understanding of specific Schedule C topics, including Self-employed health insurance deduction, home office deduction, business use of vehicles, and qualified business income deduction.
Filing gift tax returns and potential planning opportunities
Learning objectives include understanding the framework of the transfer tax system and what defines a taxable gift, identifying when a client might have a gift tax filing requirement, and knowing how to discuss gift and estate tax planning opportunities with clients.
Rental properties and AirBnB issues
In this session, we will discuss how Airbnb and VRBO rentals are handled compared to Apartment rentals, as well as cover the Real Estate Professional designation and how that can be achieved.
Ethics
This session will provide tax professionals with the basics of the IRS Office of Professional Responsibility, which is subject to Circular 230, what it means, and how practitioners might be penalized.
Adjourn
Register
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.
Bryce Morrison, Esq., Shareholder – Bernstein Shur