Justin Thames, Director of Governmental Affairs at the FICPA and Jennifer Green, President of Liberty Partners of Tallahassee, LLC discuss 2019 legislative issues that stood out this session. Discussed are industrial hemp and the Board of Accountancy guidance in the area of medical marijuana, budget funding - Clay Ford Scholarship and unlicensed activity fund, texting ban, importation of Canadian drugs, tax and hurricane relief, state tax issues - Wayfair Bill clarity on remote sales tax, HB 977 and companion bill SB 1252 changes from 20 hours of A&A CPE to 8 hours, caps to inactive, and SSA standards. Hear about Financial literacy legislation, blockchain Task Force, Local Government transparency and accountability and auditor selection procedures.
James Sutton, Attorney and CPA with Moffa, Sutton & Donnini talks about Florida Sales and Use Tax issues with Mia A. Thomas, CPA, CGMA Director of Learning - Curriculum Development with the FICPA. What general types of items and services are taxable in Florida? When do you need to start collecting and filing sales and use tax returns. Hear James share about the transfer of sales tax liability and how you can avoid criminal and civil sales tax fraud. What major industries does the Florida Department of Revenue potentially look and why.
Gary Fracassi, 2018 - 2019 FICPA Chair of the Board discusses with Mia Thomas, FICPA Director of Learning the future of the accounting profession. The notion of disruption to unlearn what we know already, learn new skills, re-learn skills and put them to use.
Chuck Bauer, sales and business consultant and trainer, talks about working smarter and time management strategies with Mia Thomas, FICPA Director of Learning - Curriculum Development. Don't Overthink the Think - overdo the Do and other prioritization strategies are shared. Learn how you can transform you and your organization.
This week we look at:
Wolters Kluwer CCH systems suddenly taken offline due to malware issue
GAO criticizes security of e-file providers and software developers
IRS updates maximum vehicle values for cents-per-mile and FAVR
IRS clarifies redemptions treated as dividends taxation when paid during post-termination transition period
Deduction for Connecticut estate taxes must be reduced by portion allocable to state’s gift taxes added back paid in 3 prior years
My boss ordered me to do it doesn’t work for trust fund penalty even when the boss is an agent of a federal
Current Federal Tax Developments for the week of May 6, 2019: Fragile: Handle with Care - S Corporations
Taxpayer’s marriage forces repayment of advance PTC, unfairness is not a defense
State tax refundable credit in excess of taxes is taxable income to taxpayer
IRS expands determination letter to cover a limited number of existing plans
LLC operating agreement adoption terminates S election
Current Federal Tax Developments for the week of April 29, 2019: Q&A 33 - The IRS FAQ Says What?
Taxpayer finds expense can’t be assigned to business based on best result
IRS greatly expands the FAQ on Section 199A, including a major surprise to many on handling S corporation shareholders
IRS updates the EPCRS program to add more self-correction options
Chief Counsel Email holds that using a PEO does not allow a partner to be treated as the employee of partnership
Draft forms issued to be used to report §199A deduction on 2019 returns Proposed regulations address NRA potential current beneficiaries of ESBTs that are also grantor trusts Memorandum address impact of §318 attribution rules on §1372 and self-employed health insurance deduction Second (and maybe final) set of proposed regulations on opportunity zone issues Ninth Circuit decides IRS regulations did remove the ability to use common law mailbox rule to prove timely filing Click to listen to the audio .
§199A - Mainly Post-Final Regulation Issues §163(j) - Proposed Regulations Out, Awaiting Final Regulations Depreciation - Will the Retail Glitch Get Fixed? And When? SALT - Soon to be released final regulations on state tax credits and then what §461(j) - Limit on business losses - where’s the guidance Other areas Click to listen to the audio . Alternatively, you may download the file to your computer by right clicking your mouse, choosing "Save Target As", then selecting a location on your
IRS sends proposed regulations on §199A for cooperatives to OIRA for review PMTA outlines intereaction of home office and SALT cap Trade or business definition for instructions in Form 461 issue identified by IRS Second Circuit reverses Tax Court decision that found a tax “black hole” Click to listen to the audio . Alternatively, you may download the file to your computer by right clicking your mouse, choosing "Save Target As", then selecting a location on your computer to save the file.