Webinar Preview: Navigating From a Multi-Member LLC to a Single-Member LLC
The upcoming NATP webinar tackles the complexities of converting a multi-member LLC into a single-member entity, focusing on when member removals trigger taxable events and the subsequent federal tax ramifications. Attendees will learn the procedural steps required—liquidation filings, final multi-member tax returns, and the shift in tax entity classification—while also navigating basis liability and holding-period rules that influence reporting and planning. The presenter will walk through real-world case studies, illustrating how to apply these rules in client engagements and offering concrete language for answering common questions about member removal. By mastering these nuances, tax professionals can provide accurate guidance, mitigate unexpected tax liabilities, and enhance their advisory value to LLC owners.
Webinar Preview: Using Qualified Opportunity Zones to Defer Tax
Financial advisors gain a concise roadmap for leveraging Qualified Opportunity Zones (QOZs) to defer capital‑gains tax, as outlined in the NATP webinar. The session walks participants through eligibility criteria, the critical 180‑day investment window, and the mechanics of recognizing deferred gains...
Webinar Preview: Kwong and Abdo Impact on IRS Penalties and Interest
The NATP webinar will examine recent court decisions—Kwong and Abdo—that raise fresh questions about the IRS’s authority to grant disaster relief and the rights of taxpayers whose liabilities stem from the federally declared COVID‑19 disaster period. The presenters explain how the...
Webinar Preview: Understanding Tax Impacts of Casualty Losses and Ponzi Schemes
The NATP webinar focuses on equipping tax professionals with the knowledge to navigate casualty loss deductions and the complexities of Ponzi‑scheme recoveries. It outlines the statutory definitions of casualty events, differentiates between federally declared disasters and other losses, and clarifies...
Webinar Preview: Retirement Plan Options for Small Businesses
The NATP webinar preview focuses on equipping advisors with a clear roadmap to navigate retirement‑plan choices for small‑business clients. It outlines the most common options—SEP IRAs, SIMPLE IRAs, and various 401(k) designs—highlighting each plan’s eligibility criteria, contribution limits, and administrative...
Webinar Preview: Correcting Missed Depreciation
The NATP webinar tackles the common problem of missed or incorrect depreciation entries when onboarding new clients, offering a step‑by‑step roadmap for tax professionals to rectify the issue. Presenters explain when a taxpayer can file Form 1040X to amend the return instead...
Webinar Preview: Passive Activity Rules Made Practical
The NATP hosted a webinar titled “Passive Activity Rules Made Practical,” aimed at demystifying the IRS’s passive‑activity loss regime for tax practitioners and advisors. Speakers walked through the test for distinguishing passive from non‑passive activities, emphasizing material‑participation thresholds and the impact...
Webinar Preview: Strategic Steps for Tax Pros Post-Filing Season
The NATP webinar “Strategic Steps for Tax Pros Post‑Filing Season” frames the end of the tax filing rush as a launchpad for practice improvement rather than a lull. Speakers outline a three‑phase action plan: first, capture lingering tasks such as extensions...
Webinar Preview: Requirements and Benefits of Qualified Small Business Stock
The NATP webinar focuses on the revised Section 1202 rules governing Qualified Small Business Stock (QSBS), outlining how the new tiered gain exclusion and extended holding‑period requirements reshape tax planning for entrepreneurs and advisors. Speakers detail that gains are now excluded...
Webinar Preview: Optimizing the 121 Exclusion for Clients
The NATP webinar delves into the nuances of Section 121, the primary‑residence capital‑gain exclusion, guiding tax professionals beyond basic definitions toward confident application. It revisits the core ownership and use tests, emphasizing the two‑year ownership and use requirements and the...
Why the IRS Is Moving Away From Paper Checks (What Taxpayers Need to Know)
The video explains the IRS’s shift away from paper‑check refunds, driven by a 2022 executive order from the Trump administration that requires all tax refunds to be issued via direct deposit. IRS data shows more than 830,000 filers this season omitted...