This Friday:
Income Tax Update
Friday, June 20th, 2014
9:00 AM to 5:00 PM EST
Temple University, Center City Philadelphia (1515 Market Street) or via live webcast
7 Substantive CLE or 8 CPE
Presented by Richard Furlong of the IRS and Renzo Cerabino, Esq., CFP
Part I: IRS Update
This “IRS Update” seminar will cover a variety of current
IRS programs of interest to tax professionals:
- This presentation will cover recent income tax law changes
impacting clients.
- When the Patient Protection and Affordable Care Act was
signed into law on March 23, 2010, the IRS was charged with administering a
number of new tax provisions. This presentation will discuss the new health care
marketplace provisions to be administered by IRS that may affect individual and
business clients.
- Employment Tax Issues including information on employment
tax form changes, worker classification and fringe benefit issues, and the IRS
Voluntary Classification Settlement
Program (VCSP) will be discussed.
- IRS Automated Underreporter (CP 2000) and Correspondence
Examination programs impact many tax professionals. This presentation will
discuss these processes, notices, and emerging issues.
Morning Speaker
Richard Furlong is a Senior Stakeholder Liaison in the
Mid-Atlantic Area Stakeholder Liaison office of the Internal Revenue Service
Small Business/Self-Employed Division. Stakeholder Liaison serves as the
primary IRS liaison office to tax practitioner organizations throughout the
country.
Mr. Furlong coordinates the annual IRS Eastern Pennsylvania
“Working Together” Conference, which is a joint effort of public and private
tax professionals to enhance the level of communication, education, and trust
between these organizations and individuals.
Mr. Furlong is also a member of the PA IRS/Practitioner Liaison Council
and he coordinates the annual meeting between IRS and the Pennsylvania
Institute of Certified Public Accountants (PICPA). Each year, Mr. Furlong represents IRS at
practitioner CPE sessions throughout Pennsylvania where he discusses IRS
policies and procedures, tax law issues, and IRS electronic tax
administration. Mr. Furlong is a
graduate of the University of Pennsylvania Wharton School with a Bachelor of
Science degree in Economics.
Part II: Asset Protection Strategies: How Well Do They
Prevent Problems and Protect Property?
Many successful business owners spend their lives running
through a gauntlet of potential adversaries. They are left to defend themselves
from law suits, the federal government and even their own spouse and family.
These topics are likely accompanied by strong emotions and the expectation of a
magic bullet type solution for maximizing wealth. Naturally, that solution
should also provide a tax advantage as well. In practice there are many diverse
options with varying degrees of effectiveness and tax implications. Often
multiple strategies are necessary. This program will separate fact from fiction
and discuss the basics of common asset protection strategies and their tax
implications. Topics will include the creation of business entities, titling of
assets, foreign and domestic asset protection trusts, prenuptial agreements,
qualified retirement plans, captive insurance companies and factoring
arrangements. In addition, we shall explore case studies detailing practical
applications of these strategies.
Afternoon Speaker
Renzo Cerabino, ESQ, CFP, has been in the financial industry
since 2005. Prior to entering the
financial industry, Renzo was a practicing attorney for 5 years specializing in
corporate mergers and acquisitions. He focuses his practice on developing
strategies and solutions for high net worth individuals, their families and
their businesses with a concentration on self-employed business owners,
corporate executives with concentrated wealth and divorced spouses. In
addition, Renzo is fluent in Italian and works with U.S. executives and
families who have international ties.
In addition to his Series 7, 63, 65 and Pennsylvania life
accident and health licenses, Renzo holds a Certified Financial Planner TM
certificate awarded by the Certified Financial Planner Board of Standards,
Inc., and a Chartered Life Underwriter certificate awarded by the American
College. Renzo is a 1996 graduate of Cornell University, with a B.S. in
Industrial and Labor Relations. He earned his J.D. and his M.B.A. from
Villanova University in 1999.
William Kline, Ph.D., CFA
McDevitt & Kline, LLC
P.O. Box 155
Wyncote, PA 19095
Phone: 267.251.3805
Website: www.ceworkshops.com--
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