2019 Midwest in Motion

This Page Contains all the Event and Registration Information.  Please scroll down!

Dates: June 13 & 14, 2019; Registration and breakfast at 7:30 am; Seminar starts at 8 am

FEES 

NAEA Members BOTH days: $365 

Either Thursday or Friday [one day]: $215     

Non-Member Either Thursday or Friday: $230

Non-Members BOTH days: $395

THE SEMINAR FEE INCLUDES: Notebooks with all program materials, continental breakfasts, buffet lunches, break refreshments.  

Plus unlimited networking opportunities!

Location: Holiday Inn, 205 Remington Blvd., Bolingbrook, IL 60440

              Will you need a hotel room?  Reserve ASAP:  Deadline for special rate expires on May 23rd!   The rate is $114/night. 

              Call the Holiday Inn at 630-679-1600 and use the code: ISE.

Schedule: 

Registration/breakfast: 7:30 to 8:00 am

Seminar: 8 am to 4:30 pm each day; 8 hours of CE each day!  Including 2 Ethics CE]

Thursday, 4:30 pm: Annual Members' Meeting and Installation of Officers & Directors

Thursday, 5:15 pm: Networking Mixer

Thursday, June 13, Speakers & Topics

Speakers this year include Tom O'Saben EA and Catherine Riddick CPA JD who teach regularly together at the University of Illinois Tax Schools always having a lively exchange. They make learning tax fun! They will team teach on Thursday, June 13th these topics.  

Employees vs Independent Contractors & Statutory Employees

1 CPE hour  IRS Program #UB57Y-T-00132-19-I

While the definition and rules for determining the status of a worker as an employee or independent contractor have not changed, other changes brought about by the Tax Cuts and Jobs Act (TCJA) may result in employers and/or employees wishing to treat compensation received as independent contractor compensation vs employee W-2 wages.  The TCJA may also have created a surge in the number of employers who may seek out ways to treat employees as statutory employees

        Learning Objectives:  By attending and participating in this 1-hour session, participants will be able to:

• Understand rules for determining employee vs independent contractor status
• Recognize the process a worker may use to challenge treatment as an independent contractor 
• Determine when and if an employer may treat an employee as a statutory employee
• Provide planning opportunities for employers to address the issue of unreimbursed employee business expenses which are now no longer being deductible by the employee

Is the Receipt of Money Always Taxable?    1 CPE hour  IRS PRogram # UB57Y-T-00133-19-I

Taxpayers often receive monetary benefits which may or may not be taxable.  The goal of this 1-hour session is to understand when the receipt of cash or an economic benefit may or may not result in a taxable event for our clients.
       The potential taxation of monetary benefits to be discussed includes: Gifts, Inheritances,  Basis of Assets Sold, Short Term Rentals, Installment Sales, Like-Kind Exchanges, and Debt Forgiveness

        Learning Objectives:  By attending and participating in this 1-hour session, participants will be able to:

• Identify sources of monetary benefits which may or may not be taxable to the recipient
• Understand the implications and timing of receipt of monetary benefits by tax clients
• Plan for  opportunities to maximize tax benefits not just to the payer of monetary items but also to the recipient(s) of monetary benefits  

TCJA:  Aftermath and Planning for 2019/Legislation Action in 2019 

4 CPE hours    UB57Y-U-00134-19-I

The Tax Cuts and Jobs Act (TCJA) was the most comprehensive tax overhaul in more than 30 years.  Nearly every taxpayer was impacted to some degree. Now that we have a year of the new law under our belt, what are some of the challenges and opportunities which lie ahead for our profession and our clients? While the Tax Cuts and Jobs Act (TCJA) was the most comprehensive tax overhaul in more than 30 years, Congress has been busy working on several key pieces of additional tax legislation which will impact nearly all taxpayers

        Learning Objectives:  By attending and participating in this 4-hour session, participants will be able to:

• Better understand the impact of TCJA on your  individual and entity clients

• Identify key planning elements in the new law for individuals and businesses

• Receive clarity as to areas of the tax law which lacked guidance prior to filing 2018 returns

• Identify recent Congressional action and the impact on tax preparers and their clientele

• Understand key changes in tax law and the interaction of these laws with current tax rules and regulations

• Receive planning ideas to use with our clients in 2019 and beyond  

Ethics  2 CPE hours   IRS Program # UB57Y-E-00135-19-I

Practitioners face ethical issues that require sound judgment and knowledge of Circular 230.  The session will include group discussion related to best practices for resolving or avoiding these contemporary issues: due diligence, conflicts of interest and cybersecurity. The presentation will be taught using real-life scenarios.

Bios: Tom graduated from Southern Illinois University at Edwardsville in 1982 with degrees in political science and finance. He has been an Enrolled Agent since 1994. Tom's practice, established in 1992, provides tax and financial planning services. His tax practice, established in 1991, provides tax services for approximately 1,000 clients. Tom also provides Quickbooks training and has given numerous educational presentations on a wide variety of tax and financial planning issues. Tom has been an instructor for the University of Illinois Tax School since 2009.

After graduating from Washington and Lee University Law School, Catherine got her start in the tax department of KPMG's Chicago office where she served middle market clients in a number of different industries. In 1994, after ten years at KPMG, she founded FRS & Associates. Shortly after, Catherine combined the business of FRS with two other accounting firms, managing them as one entity – XPonent Group. Today, Catherine leads the firm in providing planning, financial reporting, outsourcing, and tax services to a diversity of satisfied clients. Catherine has been an instructor at the University of Illinois Tax School since 2008.

Location: Holiday Inn, 205 Remington Blvd., Bolingbrook, IL 60440

Will you need a hotel room?  Reserve ASAP:  Deadline for special rate expires on May 23rd!   

The rate is $114/night.  Call the Holiday Inn at 630-679-1600 and use the code: ISE.

Friday, June 14th, Speaker & Topic

Laura Strombom EA MBA NTPI Fellow here all the way from California will give a deep dive on Partnerships. Here's your chance to attend this "master class" on partnerships and everything you need to know. Lisa is the brains behind the popular blog, All About Numbers.

Everything You Ever Wanted to Know About Partnerships and Were Afraid to Ask (or Did Not Know to Ask)

IRS Program #UB57Y-T-00136-19-I 8 CE hours

       Learning Objectives: By attending and participating in the 8-hour session, participants will be able to

• Understand the basics of partnership creation, including the key components in an agreement

• Recognize the variations of partnerships, such as family limited partnerships, limited liability partnerships, publicly traders partnerships

• Understand  what happens when a partner dies or gets a divorce

• How to handle a new client with an existing partnership

• Learn  what the Centralized Partnership Audit Regime (CPAR) is and finally,

• How to dissolve a partnership and convert to a sole proprietorship

• And much more….

Bio: When Laura Strombom graduated from college with a degree in animal science, she had no idea that one day She’d end up in the accounting field. While taking courses to make her a better business owner, Laura discovered a passion for numbers. After acquiring management experience from a major retailer and new skills as a controller for a few small, family-owned businesses, Laura launched All About Numbers in 1995, where she offered bookkeeping, payroll, accounting software support, tax preparation, and other related services. While growing her business, Laura obtained and EMBA became an EA and became a National Practice Institute Fellow. When not focused on her business and teaching, Laura enjoys riding her horses on the local trails and spending downtime with her dogs.  Laura taught college level tax and accounting courses in part to pay for her EMBA degree. While doing that she realized that she really enjoyed helping others learn. She now teaches tax professionals all over the country every opportunity she gets!

For updates on this and other education programs, connect with us:

Twitter: @IllinoisSocEAs Facebook: Illinois Society of Enrolled Agents - ILSEA

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VoiceMail: 773-977-8290     Website: www.ilsea.org