2009 PricewaterhouseCooper Like-Kind Exchange Conference Agenda

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1 WEDNESDAY, APRIL 29, :00-6:00 p.m. Golf at the Four Seasons PricewaterhouseCoopers LKE Services team invites you to participate in a golf tournament at the award-winning TPC Four Seasons Las Colinas, home to the PGA Tour's HP Byron Nelson Championship. The 18-hole, par-70 course measuring 7,166 yards from the championship tees has received a major redesign offering a new layout which is designed to be challenging for professional golfers as well as inviting to recreational players. Green fees and carts will be provided for LKE conference guests. For more information, please visit: OR Fort Worth Stockyards and Cultural District Explore the legendary Fort Worth Stockyards and the world-class Fort Worth Cultural District, home to the world-famous Amon Carter Museum, Modern Art Museum, Kimbell Art Museum, and the National Cowgirl Museum and Hall of Fame. Transportation and box lunch will be provided from the hotel. For more information, please visit: and 7:00-10:00 p.m. Welcome Reception You and your guest are invited to join PricewaterhouseCoopers and other LKE colleagues for food, drinks and fun at the Pavilion. The festivities will include supersized versions of popular arcade games including Dance Revolution, Guitar Hero, Rock Band and much more. Drinks and appetizers will be served. THURSDAY, APRIL 30, :00-9:00 a.m. Breakfast and Registration Start your day with a breakfast buffet in Four Seasons CD. 9:00-9:30 a.m. Welcome and Introduction Opening remarks, introductions, venue events and logistics will be covered. 9:30-11:00 a.m. Session I: International Financial Reporting Standards (IFRS) This session will provide an overview of the enactment of the International Financial Reporting Standards (IFRS), its impact on tax and accounting practices and key differences between IFRS and US GAAP. It will also cover challenges of converting your current ERP and Fixed Asset systems to IFRS. Steve Lilley, PwC 11:00-11:15 a.m. Break 11:15-12:30 p.m. Concurrent Session II-A: LKE 101: The Fundamentals of LKE This session will provide an overview of the basic requirements for implementing a Like-Kind Exchange program. The session focus will be relevant to clients that have not implemented a program yet or are in the process of implementing a new LKE program. The topics discussed will include tax and Qualified Intermediary considerations, business process changes, a synopsis of the PwC implementation process and a PwC-eLKE system overview. Michael Halloran (NES) Marty Edwards (M&I) Dan Feehan (Deutsche Bank) Pierre Priestly (IPX)

2 11:15-12:30 p.m. Concurrent Session II-B: Estate Planning Estate Planning for Closely Held Businesses Major estate tax reform is expected during Few expect the current estate tax laws which call for a repeal of the estate tax (for deaths in 2010 only) to stand. Congress and the new administration have already signaled significant changes in the estate planning arena. This session will give an overview of the current landscape for estate tax laws as they apply to closely held businesses as well as expected changes, and will focus on planning strategies that business owners can use today to reduce the estate tax burden. John Collins, PwC 12:30-2:00 p.m. Lunch and QI Panel This session will be a panel discussion of several prominent Qualified Intermediaries focusing on changes in the QI industry. Also covered will be a discussion of recent QI failures, QI mergers and the impact on the industry as well as safe guards that should be considered to protect funds. Michael Halloran (NES) Marty Edwards (M&I) Dan Feehan (Deutsche Bank) Pierre Priestly, IPX 2:00-3:15 p.m. Concurrent Session III-A: IRS Update / IRS Audit Experience and Panel Discussion John Petrella, Managing Director of PwC's IRS Service Team, will lead a general discussion covering the new direction the IRS is taking under the leadership of Commissioner Shulman. He will also comment on IRS examination process and issue resolution programs currently available to business taxpayers with a focus on LKE program activity. John will share his insight on the IRS's new initiatives as well as managing the IRS examination process. John joined PwC after retiring from the IRS. While with the Service, John was instrumental in resolving the "dual purpose" property issue relevant to equipment renters. There will be an overview by PwC on recent IRS exam activities of LKE programs for both leasing and equipment rental clients. This will be followed by a panel discussion comprised of PwC LKE clients discussing best practices for IRS exams and their experiences during the audit of their LKE programs. John Petrella, PwC Linas Udrys, Toyota Financial Services Dave Horner, RDO Equipment Mike Armstrong, Roland Machinery 2:00 to 3:15 p.m. Concurrent Session III-B: New Client Experience Join us for a panel discussion with some of our newest LKE clients as they describe their overall experience in implementing an LKE program and provide their insight on best practices for the implementation process and ongoing LKE compliance. Nina O'Connor, PwC Wanda Walker, BancorpSouth John Wright, Chase Equipment 3:15-3:30 p.m. Break 3:30 to 4:45 p.m. Concurrent Session IV-A: Equipment Industry Session Ralph Petta of the ELFA will provide an overview of the lease finance industry and present his perspective on the challenges and opportunities faced by the industry in the current economic climate. Ralph Petta, ELFA

3 3:30 to 4:45 p.m. Concurrent Session IV-B: Auto Industry Session Anthony Pratt, Manager - PwC Automotive Institue and global automotive analyst with over fifteen years of experience in the area of automotive market research and analysis will present a discussion on industry-specific tax issues and trends impacting auto leasing and rental car clients with a focus on the impact of the current economy and credit issues facing these industries. Anthony Pratt, PwC Automotive Institute 7:00-10:00 p.m. An Evening of Fun - Texas Style! You don't have to know when to hold 'em and when to fold 'em to have a great time at our western-themed dinner party and Texas Hold 'Em Tournament. Join your PwC hosts, friends and colleagues to compete for great prizes and bragging rights. If you've never played or are a bit rusty there will be plenty of people to help with friendly advice and betting tips. If you go bust, you can always try your hand at cattle roping, bull riding, fast draw and two-step dancing. Put on your best poker face and we will see you there! FRIDAY, MAY 1, :00-8:30 a.m. Breakfast Start your day with a breakfast buffet in Four Seasons CD. Breakfast for Caterpillar Dealer Network - by invitation only This breakfast will be a round table discussion for members of the Caterpillar Dealer network. We will focus on issues specific to Caterpillar dealers and Caterpillar Like- Kind Exchange implementations. Topics covered will include an update on IRS exam activity and the impact of the reduced volume on the LKE Program. Todd Shock, PwC Breakfast for Equipment Dealers - by invitation only This breakfast will be a round table discussion for equipment dealers. We will focus on issues specific to dealers and their Like-Kind Exchange implementations. Topics covered will include an update on IRS exam activity and the impact of the reduced volume on the LKE Program. Dave Horner, RDO Equipment Mike Armstrong, Roland

4 8:30-10:00 a.m. Session V: Economic Stimulus Update / LKE 1031 Legislative and Regulatory Update The extraordinary challenges facing U.S. companies today are readily apparent. Amid historic economic conditions and with a new Administration taking office, significant legislative changes are expected in Of immediate importance are the ramifications of the economic recovery legislation. This and other proposed legislation will have a significant impact on the nation's tax laws that will extend beyond the tax function and shape the way a company does business in this country and abroad. This general session will provide an overview by PwC's Washington National Tax Practice ('WNTS') of the tax landscape facing the new Congress, including economic recovery legislation, comprehensive tax reform proposals, taxrelated priorities such as healthcare reform, climate change, and energy independence, and other tax policy matters of importance to today's business leaders. Adam Handler will provide an overview of recent IRS activity pertaining to Section 1031 Like-Kind Exchanges, including industry specific releases, Revenue Procedures, PLR's and current and forthcoming corporate tax legislation impacting S Andrew Lyon, PwC Adam Handler, PwC 10:15 to 11:15 a.m. Concurrent Session VI-A: Energy Tax Incentives and State Tax Planning This session will also provide an understanding of the current "green" tax landscape and key points. The incentives associated with "going green" have never been more attractive... or lucrative. The U.S. government provided $17 billion in energy tax provisions in late 2008 and another $80+ billion in direct spending and energy tax incentives in the recently-enacted stimulus legislation. This session will also cover income/franchise tax activity and sales/use tax activity at the state level and tax incentives for "going green." There will be a discussion of state tax sourcing rules (i.e garage location vs auction site) as well as applicable credits, such as trade-in credits, which may be utilized by lessors. Stuart Finkel, PwC William Waltman, PwC 10:15 to 11:15 a.m. Concurrent Session VI-B: LKE for Business Location and Facilities Planning Are you re-assessing the need for existing business locations and facilities? Are you consolidating facilities or locations to adjust to your customers and vendors? This session will provide an overview of other Like-Kind Exchange tax savings strategies that should be considered by companies disposing of real estate used in their business. Kelly Alton, NES Karin Church, IPX 11:30 a.m. to 12:30 p.m. Concurrent Session VII-A: Fixed Asset Practice and Capitalization Regulations A discussion on fixed asset tax planning strategies that may also help improve your company's cash flow, effective tax rate, and optimize your tax position. Many companies that benefit from 1031 Like Kind Exchange studies also benefit from Fixed Asset Reviews, Cost Segregation Studies, Accounting Method Reviews, and Meal & Entertainment reviews. In this session, we will also discuss accounting for repair and maintenance costs and the opportunity to expense previously expenses repairs and maintenance costs for federal income tax purposes Stuart Finkel, PwC Joe Fischinger, PwC Brad Borgstede, PwC

5 11:30 a.m. to 12:30 p.m. Concurrent Session VII-B: System Update / Reporting Tips and Tricks This class is geared towards clients who have experience with the PwC-eLKE system and reporting module but would like to explore advanced reporting features such as the elke data dictionary, querying data contained within a report, filtering reports to restrict reporting to a particular data element, exporting and enhancing reports and techniques for data analysis. Advanced reporting will also cover tips and tricks in using and generating reports as well as an overview of enhancements to existing reports or new reports that are being offered to clients. Kevin Meyer, PwC Tom Dunn, PwC 12:30 p.m. Box Lunch Build your own boxed lunch to go. Travel safely!

WEDNESDAY, May 1, 2019

WEDNESDAY, May 1, 2019 1:00 pm - 7:30 pm REGISTRATION OPEN PRE-FUNCTION LOBBY Open to all pre-paid, pay onsite and same day registrants. 5:30 pm - 6:30 pm NEW MEMBER I GEORGIA FUTURE LEADERS I FIRST-TIME