FICPA Podcasts

Federal Tax Update: Rentals and the Safe Harbor

https://vimeo.com/363034617

https://www.currentfederaltaxdevelopments.com/podcasts/2019/9/29/2019-09-30-rentals-and-the-safe-harbor

 

This week we look at:

• Rentals and the Safe Harbor IRS releases final version of §199A rental safe harbor

• Special per diem rates that take effect on October 1, 2019 released

• Tax Court does not accept imprisonment and lack of access to what might be deductible expense documentation as reasonable cause for late filing.

Refeathering the Pillow: Catching, Containing & Cleaning up Cyber Fraud

Attorney, Jack Clabby - Shareholder with the law firm Carlton Fields provides advice regarding cybersecurity concerning breaches and data loss incidents with Mia Thomas, CPA, CGMA - Director of Learning for the FICPA. Listen as Jack discusses safety and risk management advice.

Federal Tax Update: Zombie Power of Attorney

https://vimeo.com/361421942

https://www.currentfederaltaxdevelopments.com/podcasts/2019/9/21/2019-09-23-zombie-power-of-attorney 

Current Federal Tax Developments for the week of September 23, 2019: Zombie Power of Attorney

• IRS releases final and new proposed regulations on §168(k) bonus depreciation

• Settlement offer to be sent to 200 taxpayers under exam for microcaptive structures

• Government shutdown causes IRS to lose ability to extend statute taxpayer had already agreed to extend

• Power of attorney not used by son nevertheless left him authorized to act for father, barring claim for extended statute

• CPA ordered to turn over tax returns of client based on two factor test

Does Your Limited Liability Company Have a Prenuptial Agreement?

Gerrard Grant, a Florida Bar Board Certified Tax Attorney at the law firm of Winderweedle, Haines, Ward & Woodman P.A. shares with Mia Thomas, CPA, CGMA - Director of Learning, Curriculum Development at the FICPA the importance of having an Operating Agreements for LLCs. An organization with a culture of positive communication sets the tone for its success. Gerrard shares some sections of what should be included in a company's operating agreement. 

Federal Tax Update: Section 451

https://vimeo.com/359997960

https://www.currentfederaltaxdevelopments.com/podcasts/2019/9/14/section-451-week

 

This week we look at:

• Students learns real life lesson on taxation of prizes, and we get a tax history lesson
• Proposed regulations issued for advance payments under TCJA §451(c)
• Proposed regulations issued for §451(b) revenue conformity added by TCJA

Florida TaxWatch Productivity Awards and 2020 Census

FICPA Director of Governmental Affairs, Justin Thames sits down with Florida TaxWatch President-CEO Dominic Calabro to discuss this year's TaxWatch Productivity Awards and the upcoming 2020 Census. Learn more about how state Government is working to save Florida taxpayers money and the long term impact that census could have on our state's budget.

Federal Tax Update: But I Promise, Really

https://vimeo.com/358512498

https://www.currentfederaltaxdevelopments.com/podcasts/2019/9/7/2019-09-09-but-i-promise-really

 

This week we look at:

•IRS release instructions to 2019 §199A simple deduction form with additional informal guidance

•Memorandum discusses what does and does not qualify as having made a payment to a retirement plan

•Relief granted to file the second copy of the Form 3115 late for an automatic method change, but at a cost

•Activities failed to count as rentals, could not be combined into rental activity by real estate professional

•A flawed S election uncovered during due diligence for sale of the corporation

Federal Tax Update: No Horse, No Business

https://vimeo.com/357081100

https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/31/dskr2u0nswq526yq8hbhxjq89mhmbg

 

Issues for this week:

 

• Tax Court finds that taxpayer did not have a trade or business of raising/showing horses since she didn’t have a horse
• Tax Court rejects IRS’s “step in the shoes” theory for gifted partnership interest with interest from debt-financed distribution received by donor
• IRS accepts court’s revision of IRA beneficiary, surviving spouse allowed to treat IRA as her own
• Coffeehouse was not a §501(c)(3) charitable organization
• Notice of deficiency sent to addresses used on returns found to be sent to last known address

 

Federal Tax Update: Watching Paint Dry Doesn't Count

https://vimeo.com/355762879

https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/24/2019-08-24-watching-paint-dry-doesnt-count

 

This week we look at:

• Taxpayer found both to have chosen the accrual method and to be required to use it as well
• §451 proposed regulations exit OIRA review
• Taxpayers records found to overstate hours by 150 hours, not qualified as a real estate professional
• IRS issues formal memo changing position on ability to claim foreign tax credit on certain French taxes

Working Smarter: Utilizing Delay Send for Emails

Hear from Chuck Bauer, sales and business consultant and Mia Thomas, CPA, CGMA FICPA Director of Learning - Curriculum Development discuss a smart email send delay strategy to help you work smarter utilizing technology.