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INTRODUCTION TO PROCONNECT TAX ONLINE: LIVE DEMO
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TAX REFORM: OVERVIEW
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TAX REFORM AND PASS THROUGH ENTITIES §199A: PLANNING FOR PROFESSIONAL PRACTICE
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2019 TAX SEASON CHAOS: DISCLOSURE? DON'T FILE AN UNCERTAIN TAX RETURN WITHOUT IT
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QUALIFIED OPPORTUNITY ZONES: BRAND NEW PROPOSED REGULATIONS ROUND 2
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2020 ANNUAL FEDERAL TAX SEASON UPDATE
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BLURRING THE LINES: WHEN IS TAX ADVICE SUBJECT TO THE ATTORNEY CLIENT PRIVILEGE?
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PRESERVING YOUR CHALLENGES UNDER THE ADMINISTRATIVE PROCEDURES ACT
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Free cpece webinars
Opportunity Zones: How to Make Qualified Opportunity Funds Work for Your Clients

OPPORTUNITY ZONES: HOW TO MAKE QUALIFIED OPPORTUNITY FUNDS WORK FOR YOUR CLIENTS

Cost Free
CPE Credits 1.0 hour
CE Credits 1.0 hour
Course Id# - HURS9-U-00611-20-O
Subject Area Taxes (Federal Tax Update)
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Course Description

Sid Kess will introduce this program on how opportunity zone investments can deliver tax-efficient solutions for clients.  Discussing these investments and solutions are Michael Kelley of Park View Investments and Michael Gershon of Citrin Cooperman; Blanche Lark Christerson, a wealth planning consultant, will moderate.  The newly finalized opportunity zone regulations provide the certainty tax planners need to implement strategies using “qualified opportunity funds” (QOFs).  By understanding how QOFs work, CPAs can help their clients get the most out of these previously unavailable tax incentives.  The program will also discuss how generational tax plans can benefit from pairing QOFs with irrevocable grantor trusts and how QOFs can be used in conjunction with, or instead of, 1031 exchanges, which were adversely affected by the 2017 Tax Cuts & Jobs Act.
 
Learning Objectives:


  • Overview of the opportunity zone initiative and its benefits.

  • Why pairing QOFs with irrevocable grantor trusts can benefit multi-generational asset transfers.

  • How using QOFs instead of 1031 exchanges can increase liquidity and enhance portfolio diversification.

  • How capital gains from sales of art and other collectibles can benefit from QOFs.

  • Understanding the benefits of pairing qualified small business stock (1202 stock) with QOFs.

Cpaofficial

In 2019, Sidney Kess, CPA, J.D., LL.M., was named as an Advisor to CPAacademy.org. Mr. Kess was recently selected “Most Influential Practitioner” by CPA Magazine, and is a nationally renowned tax expert and author/coauthor of hundreds of tax books on financial and estate planning.  Having lectured to more than 1,000,000 practitioners on tax, financial, and estate planning, Mr. Kess is one of the nation’s most prominent lecturers on continuing professional education.  Mr. Kess is also Consulting Editor of CCH Incorporated’s Financial and Estate Planning Reporter. In addition, Mr. Kess was Chairman of the Advisory Board of Tax Hotline and is a member of the PPC Tax Action Panel.  He has edited a column on “Tax Tips” for the New York Law Journal for the past fifty years.

Mr. Kess was editor of the AICPA’s CPA Client Bulletin and CPA Client Tax Letter.   He has written hundreds of AICPA tax workshops, audio, and video programs, and is the recipient of the AICPA Distinguished Lecturer Award.  Mr. Kess is often quoted in The Wall Street Journal, The New York Times, and other national publications.  He was included in Accounting Today’s, “100 Most Influential CPAs in the U.S.” for several years, as well as CPA Magazine’s, “Most Influential CPAs in the U.S.”  Mr. Kess was the National Director of Tax at KPMG Main Hurdman and a tax partner at KPMG Peat Marwick.  Mr. Kess is the recipient of the AICPA’s “Special Recognition Award” for his many years of contributions to the AICPA’s continuing professional education program and was elected to the Estate Planning Hall of Fame by the National Association of Estate Planners & Councils for his distinguished service to the field of estate planning. He is also the recipient of the AICPA’s Gold Medal Award, which is the highest award in the accounting profession.  Most recently, he received the AICPA Personal Financial Planning Distinguished Service Award.

The AICPA established the Sidney Kess Award for Excellence in Continuing Education, to recognize individual CPAs who have made significant and outstanding contributions in tax and financial planning and whose public service exemplifies the CPA profession’s finest values and ethics.  Sidney Kess was the first recipient of this Award.  Mr. Kess was inducted into the New York State Society of CPA’s Hall of Fame.  He received his B.B.A. from Baruch College, his J.D. from Harvard University School of Law, and his LL.M. from New York University Graduate School of Law.

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Mr. Kelley has 30 years of experience in business and financial markets. He was early to recognize the potential of Opportunity Zones to change the course of capital flows. Through his writings and presentations Mr. Kelley has become a leading voice on Opportunity Zones and how investors and community leaders can benefit from them. He is active in the entrepreneurial community having served as a mentor, board member and occasional pitch competition judge. Previously he focused on investing in emerging markets for a family office and worked at several investment banks raising capital in the technology, alternative energy and healthcare verticals. Michael has a B.A. in Economics from the University of Massachusetts.

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Citrincooperman

Michael Gershon, CPA, MBA, MS provides his clients, including high net worth individuals, family groups and closely held businesses, with income tax planning and compliance, business advisory services, succession planning, and wealth preservation planning. Michael joined Citrin Cooperman as a partner in September 2011 and works out of the firm’s New York City office.

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Blanche Lark Christerson is a wealth planning consultant in New York City, with extensive experience in the private banking and fiduciary services industry.  She worked at Deutsche Bank for 22 years, counseling clients and colleagues on estate and wealth planning matters and writing Tax Topics, a regular commentary on current legislation and other tax and related issues.  Ms. Christerson is currently on the planning committee for the Advanced Personal Financial Planning Conference of 2020 ENGAGE of the American Institute of CPAs (AICPA), and has been involved with various industry committees through the American Bankers Association and the New York Bankers Association.  Ms. Christerson lectures for numerous planning and professional organizations nationwide, including the AICPA, the New York State Society of CPAs and the United Jewish Appeal (UJA).  She received her B.A. from Sarah Lawrence College, her J.D. from New York Law School and her LL.M. in taxation from New York University School of Law.  Ms. Christerson is a member of the New York Bar Association, the Bar of the City of New York, the Bar of the Supreme Court of the United States and the American Bar Association.  She is also the president of the Bagby Foundation for the Musical Arts and can be reached at b.christerson@gmail.com. 

Additional Materials
Investing In Qualified Opportunity Funds with Irrevocable Grantor Trusts
How Collectors Can Utilize the Opportunity Zone Program
Frequently Asked Questions
  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • Multiple attendees: In order to receive CPE for multiple attendees, ensure that at least one person signs up for the webinar. At the completion of the webinar a proctor form is provided. Alternatively, you may also login to your account following the webinar and click on the MY ACCOUNT button where you will find a link to the proctor letter.
Handout Materials
Presentation Slides
Nasba

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

Irs

EA Approved

CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

About Our Sponsor

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Boston based Park View Investments specializes in Qualified Opportunity Funds. We deliver tailored tax-efficient solutions through our consulting, investment structuring and fund administration.