THIS COURSE GIVES YOU:

• Lectures on up-to-date tax laws and special topics
• Practical information for your tax practice
• A teaching manual that also serves as an excellent reference during your tax season

Locations and Dates for 2010
 
     Eau Claire -
     Tuesday November 2 - Wednesday November 3
     The Plaza Hotel and Suites, 1202 W. Claremont Ave.
     Eau Claire, WI  54701
     Phone: 715-834-3181

     Green Bay -
     Monday November 8 - Tuesday November 9
     Radisson Inn Green Bay, 2040 Airport Drive
     Green Bay, WI  54313
     Phone:   920-494-7300

     Oconomowoc -
     Wednesday November 10 - Thursday November 11
     Olympia Resort and Conference Center, 1350 Royale Mile Road
     Oconomowoc, WI  53066
     Phone:  262-369-4999

     Appleton -
     Monday November 15 – Tuesday November 16
     Wave Bar and Ballroom, 2350 N. Casaloma Drive
     Appleton, WI  54914
     Phone: 920-734-2407

     Mosinee -
     Wednesday November 17 – Thursday November 18
     Stoney Creek Inn, 1100 Imperial Avenue
     Rothschild, WI  54455
     Phone:  715-355-6858
 
     Milwaukee -
     Monday December 6 – Tuesday December 7
     Clarion Hotel & Conference Center, 5311 S. Howell Avenue
     Milwaukee, WI 53207
     Phone: 414-481-2400
 
     Madison  -
     Wednesday December 8 – Thursday December 9
     Alliant Energy Center Exhibition Hall
     1919 Alliant Energy Center Way
     Madison, WI  53713
     Phone: 608-267-3976

Time Schedule

     Day One
     Registration: 7:30 a.m. - 8:30 a.m.
     Morning Session: 8:30 a.m. - 12 noon
     Lunch: 12 noon – 1:00 p.m.
     Afternoon Session: 1:00 p.m. – 5:30 p.m.
 

     Day Two
     Morning Session: 8:30 a.m. – 12:00 noon
     Lunch: 12:00 noon – 1:00 p.m.
     Afternoon Session: 1:00 p.m. – 4:30 p.m.

Fee
The fee for the 15-hour, 2-day course is $220 and includes materials. A continental breakfast, lunch, and breaks are also provided each day.

Material
Participants will receive the 2010 Income Tax Workbook authored by Professor Philip E. Harris (University of Wisconsin-Madison) with contributions from tax experts from around the country.

Instructors
Philip E. Harris, JD; Professor of Agricultural and Applied Economics at UW-Madison; Director, Tax Insight; Author Income Tax Workbook; Author Agricultural Tax Issues; Speaker for 31 years at tax courses in Wisconsin and other states; Consultant for businesses and tax practitioners.

Ken Wundrow, EA; Tenth year speaking for Tax insight; taught for H&R block for 8 years; solo practice for 3 years before joining Mennenga Tax and Financial; presenter for several annual seminars; completes 500 returns annually; math teacher for 25 years.

The Internal Revenue Service speakers will be announced.

The Wisconsin Department of Revenue speakers will be announced.

Credit
15 hours of credit are available for attending this course which includes 2 hours of ethics. The course qualifies for continuing education credits for IRS Enrolled Agents, Certified Financial Planners, Wisconsin Continuing Legal Education, and the Accreditation Council for Accountancy and Taxation.

Registration
To register on-line, select the course location from the Registration menu on the left.

To register via mail, go to the Registration Information page for further instructions.

To register by phone or receive a copy of the brochure, contact Tax Insight directly at: (phone) 608-831-1040, (fax) 608-831-1065.

We cannot guarantee on-site registration.

Topics
 

New Legislation

      Congress continues to be active in passing tax legislation that affects tax returns for 2010 and future years. This chapter covers tax legislation that was enacted for 2010.

Individual Taxpayer Issues

• Schedule L (Form 1040)
• Tax Consequences of Owning a Home
• Part-time Clergy
• Recoveries and the Tax Benefit Rule
• Taxation of Damage Awards and Settlements
• Education Credits and Deductions

Financial Distress

      This chapter covers practical tax issues that arise from financial distress such as reporting information from Form 1099-A and Form 1099-C on the debtor’s tax return and showing tax attribute reductions on Form 982. It includes issues such as foreclosure, repossession, property with debt in excess of FMV, and bankruptcy of both homes and business property. Credit card debt is also discussed.

Business Issues

• Fringe benefits
• Schedule C (Form 1040)
• Form 2106 planning issues
• Self-employment income
• Hobby loss issues        
• Domestic production activity deduction update
•  Benefits of C corporation
• Single member LLC: EIN and liability rules

Retirement

      This chapter focuses on Roth IRAs. Topics include:

• Conversion of regular IRA to Roth IRA: 2010 v. 2011 and 2012 recognition of income including present value analysis to determine if an IRA should be converted
• Roth 401(k)
• Qualified distributions
• Penalty provisions
• Long-term planning with Roth IRAs
• Chart of retirement plan requirements and limits

Investment Issues

• Interpreting brokerage statements
• Reporting calls and puts on stocks and commodities
• Accrued interest calculations and reporting
• Buying and selling life insurance policies
• Tax consequences of losses on investments
• Oil and gas: reporting issues for royalty owners

IRS Issues

• Practitioner registration
• Oversight of tax return preparers
• EITC Compliance
• Electronic filing tips
• Electronic Federal Tax Payment System
• IRS Notices and Letters
• CP 2000 Frequently Asked Questions
• Audit reconsideration process
• Bank Secrecy Act reporting requirements

Income taxation of Trusts and estates

• Decedent’s final return; filing status
• Beneficiaries’ returns
• Choosing the end of the tax year for an estate

Tax Practice

• Amending amendments such as an I.R.C. § 179 deduction or NOL carryback
• Forms issues such as e-file signature authorizations and transmittal of an e-file
• Responding to a math error correction
• Tax doctrines such as constructive receipt of income, step transactions, substance over form and the tax benefit rule

Basis of Assets

      This chapter is a comprehensive discussion of the income tax basis rules. Topics include:

• Assets transferred by gift
• Assets transferred at death, including carry-over basis rules in 2010
• Basis rules for charitable contribution deduction
• Term interests, including life estates
• Conversion of personal property to business or investment property.
• I.R.C. § 1060 allocation

Recapture Provisions

      This chapter is a comprehensive discussion of the recapture provisions in the Internal Revenue Code including depreciation, personal credits, excess front-loaded alimony payments, I.R.C. § 1231 losses under 5-year look-back rule, investment credit, at-risk amount less than zero, low-income housing credit, cost sharing payments and soil and water conservation expenses.

Ethics

• Impact of practitioner registration
• Conflicts of representation
• Who is the client?