FICPA Podcasts

Federal Tax Update: About That Drive from Florida to South Africa

https://vimeo.com/345356674

https://www.currentfederaltaxdevelopments.com/podcasts/2019/6/30/2019-07-01-about-that-drive-from-florida-to-south-africa

This week we look at:

• IRS issues notice to advisers regarding what to do in the event of a data breach
• IRS official confirms a §199A trade or business can include both commercial and residential rental
• Taxpayer found Tax Court didn't believe his vehicle logs
• Transaction found to be substantially similar to a listed transaction

Federal Tax Update: Supreme Court Just Says No

https://vimeo.com/343862080

https://www.currentfederaltaxdevelopments.com/podcasts/2019/6/22/2019-06-24-supreme-court-just-says-no

This week we look at:

• Proposed regulations issued on qualified agricultural cooperatives

• US Supreme Court rules mere residence of beneficiary not enough to all state to tax entire income of trust

• Taxpayer had a proper claim of right situation when she paid ½ of wages paid back by ex-spouse

• IRS finalizes non-resident alien ESBT regulations

Impact Report - Justin Thames and Jennifer Green - Special Edition

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.

Florida Sales and Use Tax - What is taxable and Issues to know

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.

Federal Tax Update: Bring on the New HRAs

https://vimeo.com/342468445

https://www.currentfederaltaxdevelopments.com/podcasts/2019/6/15/2019-06-17-bring-on-the-new-hras

Current Federal Tax Developments for the week of June 17, 2019: Bring on the New HRAs

• IRS to stop faxing transcripts, only mail them to taxpayer’s address of record

• Final regulations issued for state tax credit donations and new way to report credit as tax paid

• IRS finalizes regulations creating two new HRAs

The Evolution of the Accounting Profession - Embrace Change

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.  

Federal Tax Update: Being Yourself as a Business

https://vimeo.com/341108695

https://www.currentfederaltaxdevelopments.com/podcasts/2019/6/8/2019-06-10-being-yourself-as-a-business

This week we are looking at:

• S corporation status lost when SMLLC shareholder adds a new interest holder

• Tax Court does not accept author’s attempt to treat a portion of her income as not self-employment income

• IRS releases employer tables and worksheets for TCJA-aware draft Form W-4

• TIGTA finds that LB&I imposes accuracy-related penalties at lower rate than does SE/SE

• Envelope used to file Tax Court petition lacked postmark, taxpayer could not explain delivery much later than would be expected for timely mailed document

Work Smarter, Making More Money and Taking More Time Off

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.

Federal Tax Update: Sweating the Details (or Lose Out)

https://vimeo.com/339738434

https://www.currentfederaltaxdevelopments.com/podcasts/2019/6/1/2019-06-03-sweating-the-details-or-lose-out

This week we look at:

• Evangelizing did not give rise to charitable deduction for most expenses

• DC Circuit agrees with Tax Court that failure to disclose basis of asset doomed $33 million contribution

• Taxpayers lose nearly $1 million of basis due to lack of old documents

• IRS tries one more time to develop a W-4 for the TCJA era

Federal Tax Update: Another New Tax Bill

 

https://vimeo.com/338599794

https://www.currentfederaltaxdevelopments.com/podcasts/2019/5/26/2019-05-28-another-new-tax-bill

This week we look at:

• Virtual currency guidance promised by IRS Commissioner

• HSA numbers for 2020 released by IRS

• Auto depreciation limits for 2019 released by IRS

• House passes retirement reform bill, would drastically cut back on the use of stretch IRAs

• Assistant US Attorney warns preparers about criminal exposure when they don’t raise enough issues about loan