did not get to join us in May, we had a wonderful Spring Fling. We not only had some wonderful education

Transcription

1 BAMA NEWS VOLUME 4, ISSUE 2 EDUCATION EDITION 2018 A Note from the President Sheila M Sutton, EA Hello fellow NATP Members. I hope you have enjoyed your summer and are awaiting the much needed heat wave relief with the coming Fall. Just a few things I would like to tell you. For those of you who did not get to join us in May, we had a wonderful Spring Fling. We not only had some wonderful education and networking opportunities, we also had a very successful Stone Lewis Auction. Thank you to our Education Committee, and Mrs. Kathy Hallford for all the hard work you put into another successful seminar. Also, a big shout out to Mrs. Kathryn Keane, for your wisdom and expertise in educating us once again. Thank you Liz Johnson and all who helped put together our spectacular lunch. We honored a Education News! to someone you have met at a prior conference to team up and take advantage of this great deal. After you have registered, I will provide you with a link to download materials; download and bring Kathy Hallford, EA Dear Friends, We have our Fall Education Event and Annual Membership meeting coming up on November 11-13, Registration is Buy One and Get One ½ price. So, invite that tax pro down the street or reach out your laptop, tablet or I- Pad to class. Printed materials are available for a nominal fee of $35 and must be ordered with registration. Lunch will be provided on Monday and Tuesday with each registration. Guest meal tickets are $35 and can be purchased with registration. We start with an Education meeting, Committee immediately long-standing member, Dr. Wesley Mott, with an Honorary Board Member for life award. Dr. Mott has been an NATP member for over 25 years and is one of our founding members of AL NATP. The new Tax law is going to be very trying for us in the upcoming tax year. The education team has worked hard to bring us the necessary education to properly handle the new tax law. Cont on Page 2 followed by a Board of Directors meeting. Anyone interested in serving as a volunteer are welcome to attend. Sunday s meetings will end with a choice of either an Ethics class titled: What would you do? or Teen/College Dependent Taxes & Credits starting promptly at 5:30 pm and ending at 7:10 pm, leaving plenty of time for supper. I am very excited about our Fall Education!!!! For the first time ever, we are offering a Dual- Course Track on Sunday evening. Cont on page 2 Board of Directors: President: Sheila Sutton sheila@protaxarab.com Vice President: Kathy Hallford Kathyh@kathystax.com Secretary: Deidree Jones Deidree@jonesandassociates.net Treasurer: Doug Crump djcrump@rrbusiness-solutions.com Amanda Elrod Elrodtaxservice@gmail.com Nelda Bunch bunchincometax@msn.com Brandon Jones Jonestax7@yahoo.com Shirley Lloyd Bolt Shirley@shirleysacct.com Gwendolyn Harris Brooks gharris1@knology.net Pam Worsham pam.worsham@abkpg.com Elizabeth Johnson liz4304@bellsouth.net Kathy Hallford kathyh@kathystax.com Inside this issue: President & Education Notes cont d 2 Sunset Ethics Instructor 3 Tax Reform, QBI & Entity Instructors 3 Tax Reform, QBI & Entity Instructors 3 Fall Bios & Anniversary Milestones 4 New Board Members & Scholarship Info 5 Final 1040 Agenda & Registration Form 6-7 Annual Fall Meeting Agenda 8 Sugar Plum Shop 9

2 NATP Tax Forums Atlantic City, NJ Sept , 2018 Las Vegas, NV Sept 25 26, 2018 Indianapolis, IN Oct , 2018 Fall Conference & Annual Membership Meeting Hampton Inn Orange Beach, AL Nov , 2018 President s Note continued So find a buddy to partner up with to qualify for the buy one, get one 1/2 price. As you all know, the President picks a charity or organization to sponsor each Fall. This year I have chosen the Baldwin County Sheriff Boys Ranch located in Summerdale, AL. Since we are going to be in the southern area, I chose this place for the proximity, the needs of the ranch and young men who reside on campus. They need canned goods, cleaning supplies, and any personal hygiene Education News! continued products for young men. If you desire to learn more about the ranch you may go to boysandgirlsranches.org and search under the Baldwin County tab. You may also watch a video on Youtube: Baldwin County Sheriffs Boys Ranch Promo. Please join me in supporting a wonderful organization that is in desperate need of items to help the young men on campus. I will be sending out more in the months to come that will let you know what is specifically asked Page 2 for by the ranch administrators. As always, I look forward to any feedback you may have. I welcome any and all suggestions that will help improve our Chapter and improve your experience in this Chapter. Please note my new address: sheila@protaxarab.com. As I tell my family and friends: Life is not measured by the breaths we take but by the Moments that take our breath away. I hope to see you in November. Sheila M Sutton, EA AL NATP President 1040 Workshop Embassy Suites Birmingham area Dec. 3 4, 2018 Monday s lunch will include Practice Management Tips, so be thinking of a tip you can share that will help your peers improve their tax practice. Tuesday s lunch will include 2 hours of round table discussions. If you wonder what your peers would do with a tax issue or ethical issue, here is a chance to ask. Basically, every course will include the effects of the Tax Reform along with Federal and State updates. Take a minute to review the Course Descriptions, register for conference and make your hotel reservations while fresh on your mind. Any questions or suggestions are always welcome! Feel free to call or me at kathyh@kathystax.com or office or mobile. The tax professional will have the opportunity to fulfill up to 15 CEU credit hours by attending this November 2018 Fall Seminar. If I can help you in any way, don t hesitate to call or me. I look forward to seeing all of the familiar faces and some new ones as well and this fall s conference. Kathy Hallford, EA AL Education Chair

3 Page 3 Sunset Ethics: What Would You Do? Richard Byerly, CPA Richard started Byerly & Associates as a part-time business in 2009 and took it fulltime in He received his BA of Accounting from University of Texas at Arlington in 1982 and his CPA in He has 27 years of experience in healthcare finance, an additional 5 years in cost accounting in the manufacturing industry and has been doing tax preparation since At Byerly & Associates, he prepares client's tax returns and assists clients with tax planning. In his free time, he enjoys golfing, officiating football, and attending sporting events. Telephone Directory Practitioner Priority Service Individuals Business Tax Reform, QBI and Entity Choices National Tax Payer Advocate Deryck Ferrier, EA Deryck has been in the tax business since 1978 and is a partner in Accounting & Business Consultants Inc, Birmingham, AL. He has a B.S. in Electrical Engineering, is an enrolled agent, and National Tax Practice Institute Fellow. Deryck has been a regular on the local radio station WATV providing tax information, and as a Live Line guest, answering tax questions. He has also served as the Tax Matters Expert for a Low Income Tax Clinic in Birmingham. Deryck is currently serving as President of The Alabama Society of Enrolled Agents, is a member of the National Association of Tax Professionals, an NATP Certified Instructor and has also served as a past President of the AL NATP chapter. Alabama Tax Payer Advocate EFTPS IRS Refund Hotline Alabama Department of Revenue A Doug Crump, EA Doug is the President of R&R Tax and Business Solutions, LLC in Tuscaloosa, AL specializing in individual and business taxes, payroll and QuickBooks consulting. He has been a tax preparer since 1996 and became an Enrolled Agent in He graduated from the University of Alabama with a BS in Marketing in 1991 and a second major in Accounting in Doug is active is his community serving as Treasurer of the Tuscaloosa Morning Rotary Club and President-Elect of Tuscaloosa BNI. Doug has been a member of NATP since 1999, is a NATP Certified Instructor and is the Treasurer of the Alabama Chapter of NATP. Doug is married to Kathy West Crump with two daughters, Josie and Mara. When not occupied by the many sports activities of the girls, they enjoy boating time on the lake. Doug is an avid University of Alabama fan, with particular interest in Football, Basketball and Softball. Important Websites Internal Revenue Service Alabama Department of Revenue Alabama Tax Center Alabama Secretary of State NATP AL NATP Facebook Page

4 Page 4 Tax Reform, QBI and Entity Choices Brenda Jones Robert Lynn Pennington Floyd Wane Cogburn Ed Foy Paul Joseph Harvell Margie Ann Hauss Jena Large Saafir Malik Tiffany Shellenberger Jean Maddox Watson 10 years Angela English Mark Smith Gerrie Wallace Keary Foster, CPA Teresa M Gilbert Grant Hill, Sr Kathryn Irby, EA William B Holmes, EA 20 years Andrea E Frey, EA Dorita Jones, RTRP 25 years Dr. Wesley Mott Ben Paternostro, EA Visit us on: Facebook page Alabama NATP and Kathy R Hallford, EA Sunset: Teen/College Dependent Taxes & Credits Shirley Bolt, EA 2017 Legislative Updates Blake Madison Attorney at Law Member Brags Shirley is a graduate of Troy University with a degree in Accounting and a minor in Computer Technology. She has owned her own practice in Phenix City, AL since 1995 and has been a tax preparer since Shirley s office offers bookkeeping and payroll ser- Mr. Blake Madison is an attorney and a shareholder in the law firm of Rosen Harwood, P.A. where he practices primarily in business, corporate and commercial law; state and local taxation; non-profit entities; and health care law. He has participated in reported tax cases before the Alabama Supreme Court; the Thanks to Gwendolyn Harris Brooks for sharing that she presented information regarding major tax changes to her community as part of a Stewardship Breakfast at Pilgrim Baptist Church in Lanett, Alabama on February 10, Kudos to Brandon Jones, who Kathy is a graduate of Draughon s School of Business with a Certificate in Career Accounting. She became an IRS Enrolled Agent in She has served on the Board of Directors for the Alabama Chapter of the National Association of Tax Professionals since 2010, holding the offices of Chapter President, Secretary and Education Chairman and is a NATP Certified Instructor. She also serves as Treasurer for the Choctaw Visual & Performing Arts Center in Gilbertown. Kathy has been a tax professional since 1995; opening Kathy s Tax Service in Kathy and her staff provide individual, small and rural business tax preparation, real time and after the fact bookkeeping and payroll services. She enjoys teaching and coordinating tax events; teaching Sunday School, traveling and spending time with her husband Larry and family. vices in addition to specializing in Offers in Compromise. She has served 9 years on the Alabama Chapter of NATP Board of Directors. Of those years she was President of the Alabama Chapter for two years. She regularly attends education classes by NATP and Auburn University. She is a NATP Certified Instructor. Alabama Court of Civil Appeals; and the Alabama Department of Revenue s Administrative Law Division. He was honored with the 2012 Charles H. Land Member of the Year Award by the Chamber of Commerce of West Alabama, it s highest award given to an individual. served at the MOTION Student Conference in Birmingham July Have you received any awards or community acknowledgements? Please send information to Amanda Elrod or any other Board member.

5 Page 5 Wayfair Decision Alabama Sales & Use Tax The Alabama Department of Revenue has issued the following regarding sales tax nexus re the recent South Dakota v. Wayfair, Inc. decision: the existing nexus rule of January 1, 2016, will be applied for sales on or after October 1, Remote or online sellers having annual Alabama sales exceeding the small seller exception ($250,000) should register for the Alabama Simplified Sellers Use Tax Program, and begin collecting no later than October 1, New IRS e-services Landing Page Additional information can be found at wp-content/uploads/2017/07/ssut- Application.pdf and revenue.alabama.gov/2018/07/03/adorannounces-sales-and-use-tax-guidance -for-online-sellers/. The IRS has launched a cleaner, less cluttered landing page for e-services. Currently, only Internet Explorer v.9 and later is supported. Taxpayer Digital Communication (TDC) Pilot Program The IRS is now utilizing secure electronic communication in a limited number of correspondence audits. The client will receive an invitation, and then must register for the program. The TDC program currently encompasses correspondence audits related to Schedule A, education credits, and the child and dependent care credit. Clients can still be represented through the TDC program, but they must declare they want their representative (with active Power of Attorney) to be included. The representative must then also register for access to their client s account. Benefits of the TDC program include being able to directly upload documents directly to the client s account and working with only one auditor. IRS Issue Management Resolution System (IMRS) The IRS wants your feedback. The Area 3 Stakeholder Liaisons, which include the states of Alabama, Arkansas, Illinois, Kentucky, Louisiana, Mississippi, Oklahoma, Tennessee, Virginia, and Wisconsin, hosts a monthly IMRS meeting. This meeting serves the purpose of getting out information to tax professionals (for an example, see the two articles directly above this one), as well as providing a forum for tax professionals to let the IRS know about issues we are facing. These issues can range from representation issues to discussing ghost preparers. Do you have any issues you re noticing in your own practice of which you want to make the IRS aware? Please Amanda Elrod at elrodtaxservice@gmail.com. Spring Fling Donation Those of you who attended our Spring Fling may already be familiar with our President s choice for our Fall Education Charity the Baldwin County Sheriff Boys Ranch in Summerdale. Our Stone-Lewis Auction and Luncheon really was great this year, but, as with any luncheon event, there are always leftovers. We were able to donate all the remaining side dishes to the Baldwin Boys Ranch, and they were thrilled and truly grateful to receive them. This is a great organization, and a great opportunity for us to support them in their needs. Fall Charity The Baldwin County Sheriff Boys Ranch is this year s chosen charity. They are located in Summerdale, AL. Some of the items that they are in need of are canned goods, cleaning supplies, and any personal hygiene products for young men. If you desire to learn more about the ranch you may go to boysandgirlsranches.org and search under the Baldwin County tab. We will be accepting any of the above items or monetary donations at the fall conference. v=xtykjapsg3e

6 Page 5 Hampton Inn & Suites Perdido Beach Blvd Orange Beach, AL Group Discount Code: TFM Group Discount Code applies to the following dates: November 9 15, Fall Education & Annual Membership Meeting Sunday, November 11th Noon to 4:45 pm Board of Directors Business Meeting 4:45pm to 5:20 pm Early Registration & Meeting Materials Pickup 5:20 pm to 5:30 pm Greetings and housekeeping 5:30pm to 7:10 pm Sunset Ethics Class: What would you do? Richard Byerly, CPA Or Teen/College Dependent Taxes and Credits Shirley Bolt, EA Monday, November 12th 7:45am to 8:00am Registration & Materials Pickup 8:00 to 8:10 am Greetings and housekeeping 8:10am to 11:50am Tax Reform, QBI and Entity Choices Team Instructors: Kathy Hallford, EA, Deryck Ferrier, EA & Doug Crump, EA 20 minutes of Break at instructor s discretion 11:50am to 1:00pm Luncheon with Practice Management Tips 1:00pm to 1:10pm Greetings and housekeeping 1:10pm to 2:50pm Tax Reform, QBI and Entity Choices Continued 2:50pm to 3:00pm Break 3:00pm to 4:40pm Federal vs Alabama Legislation updates Instructor: Blake Madison, Esq. Tuesday, November 13th 7:15am to 8:30am AL NATP Annual Membership Meeting NO CPE for Business Mtg 8:30am to 9:00am National Representative Richard Ganong, MBA, EA 9:10am to 9:20am Break 9:20am to 11:50am IRS Updates on New Tax Reform Changes RS Reginia Malisham; 10 minutes of Break at Instructor s discretion 11:50 to 1:40pm Luncheon with Round Table Discussions 1:40pm to 1:50pm Break & Clean up 1:50pm to 3:30pm ADOR Comparison of AL tax Changes/differences in comparison with Federal IRS changes Instructor: ADOR Andrea Wyatt 3:30am to 3:40pm Closing Comments & Door Prizes Up to 15 CEU s Page 6

7 Name: Member ID#: Designation(s): License #: PTIN #: Address: City: State: Zip: Phone: Emergency Contact Name & Phone Number BOGO 1/2 Price: First registration full price, second registration 1/2 price. To benefit from this great deal, registrations must be submitted at the same time by phone, fax, or mail. Note: Registration includes electronic materials and meals. Paper materials are available for a small fee. REGISTRATIONS MUST BE RECEIVED AT NATP BY CLOSE OF BUSINESS NOVEMBER 9, 2018 AFTER THAT DATE, PLEASE REGISTER AT THE DOOR. Payment Method: Credit Card or Checks made payable to NATP NATP Alabama Chapter Annual Meeting & Fall Education Nov , 2018 Hampton Inn & Suites Perdido Beach Blvd Orange Beach, AL Group Discount Code: TFM Registration Fee NATP Member After Guest Lunch Ticket Printed Materials $240 $280 $35 $35 Name as it appears on CC: CC #: Exp. Date: CVV # Signature: How To Register: Mail To: NATP, PO Box 8002 Appleton, WI Phone: , Ext. 3 Fax: natp@natptax.com Online: Cancellation Policy: Cancellations must be submitted to NATP no later than October 19, 2018 to receive a refund. Cancellation is subject to a $50 fee. Page 7

8 Tax Reform, QBI and Entity Choices Pictures from the 2018 Spring Fling Course Description: This Course will cover tax reform changes that affect most taxpayers and the big issue of what Qualified Business Income(QBI) actually consists of, how to calculate QBI and how to apply the Section 199A credit. As a result of the Section 199A credit do you need to change your current Entity tax filing status and what all new businesses will have to consider when setting up their company. We will go through life like examples and work sheets that every tax professional is going to want have available for use during the upcoming tax years (Currently 2018 to 2025). While we have tried our best to simplify this complicated topic, Doug Crump, Deryck Ferrier and Kathy Hallford have worked hard to bring you updated, useable education. You don t want to miss this class!! Dr. Wesley Mott accepting his awards Sunset Ethics: What would you do? Course Description: The tax course is designed to fulfill the IRS 2-Hours Ethics continuing education requirement for tax preparers and enrolled agents. We will cover the understanding and importance of ethics in the tax preparation setting according to the guidelines for professional behavior of tax preparers. This course is based on the Code of Federal Regulations as set forth in Circular 230. Come prepared to participate in ethical dilemmas and role play. Our charity luncheon Sunset: Teen/College Dependent Taxes and Cred- Course Description: Clients with teenagers and college students require extra attention as there are a variety of tax issues involving those older dependents. Topics include examining tax credits available to taxpayers with dependent children (including the expanded child tax credit); determining how the modified kiddie tax rules impact parents and children; allocating health insurance from the marketplace to nondependent children under age 27; and claiming tax benefits for qualified education expenses. Kathryn Keane, our professional speaker Upon completion of this course, you will be able to: Identify when a child is subject to kiddie tax, which tax rate applies and how it is reported. Determine how inheritance or court settlements impact a child s reporting requirements. Summarize the tax credits available to taxpayers with dependent children. Analyze the expanded child tax credit, including the new $500 nonrefundable credit. Determine how to allocate health insurance for family coverage from the Marketplace to a nondependent child under 27. Summarize the requirements to claim education credits. Determine the tax consequences of distributions from qualified tuition programs ( 529 plans). Ms. Nelda Bunch, our auctioneer Learning in class Page 8