Agenda

Channel 1

8:30 – 8:35 am
Welcome & Announcements

Channel 2

8:35 AM – 9:25 AM
Unemployment Insurance Agency (UIA) & State of Michigan Individual & Business Tax Update
According to the Detroit Free Press, Michigan reported 100,000 fraudulent unemployment claims from April 2- 7 sourcing the Michigan Unemployment Insurance Agency (UIA). Dig into updates from UI including benefit claims, appeals and more then receive an update from Michigan’s business and individual tax including the impact of federal COVID-related legislation from the Paycheck Protection Program to income tax impact of unemployment benefit income exemption- bring your questions.
Speakers: Carrie Dillon & Julie Jensen
Credits: 1.0 OT
LAUNCH

9:30 AM – 10:20 AM
Pensions & Annuities
Bring your pension and annuity questions for a dialogue on the opportunities that exist with each instrument, tax savings with charitable contributions, correcting distribution codes as well as pension plans with basis and inherited IRAs.
Speakers: Marilyn Meredith
Credits: 1.0 OT
LAUNCH

10:30 AM – 11:20 AM
A Glimpse into the IRS Return Preparer Office
Tasked with improving taxpayer compliance and providing oversight and support for tax professionals, the IRS Return Preparer Office oversees PTINs, enrollment programs, the Annual Filing Season Program (AFSP) and so much more. Receive insight into the workings of the office including their data security responsibilities, PTIN, EA and AFSP requirements and the compliant referral process.
Speakers: Carol Cambell
Credits: 1.0 OT
LAUNCH

1:10 PM – 2:00 PM
e-Services and Uploading Form 2848/8821
Whether you’re new to e-Services or want a refresher on the suite of options and applications offered for preparers, this is where you can bring your questions regarding the IRS’s online tools. From uploading Forms 2848 and 8821 with electronic signatures to registering for secure access and more here’s your electronic one-stop shop.
Speakers: John Linstead
Credits: 1.0 OT
LAUNCH

2:10 PM – 3:00 PM
Protect & Defend: Data Edition (Tax Practitioner Data Loss Including Safeguarding Taxpayer Data: Publication 4557)
Federal law protects taxpayer data and, moreover, there are other costs to a breach that hurt more than your own or your organization’s reputation. Ensure you’re up-to-date on the latest from the National Institute of Standard Technology Cybersecurity Framework, review the IRS’s Publication 4557, and additional steps you should take to assist your clients in protecting themselves from identity theft.
Speakers: LaTanya Bacon
Credits: 1.0 OT
LAUNCH

2:10 PM – 3:00 PM
Michigan Sales and Use Taxes for Small Start-Ups
Dig into the taxation and classification questions for small Michigan start-ups. From classification of distributor, business-retailer, service provider, taxation of inputs and exemptions/ exclusions- we tackle the high level and finer points including filing status.
Speakers: Terry Conley & Arthur Orzame
Credits: 1.0 OT
LAUNCH

3:10 PM – 4:00 PM
Tax Law Changes Update
Maybe it wasn’t the first act, or second, or even the third- tax law has had more than one encore in the last few years and we take stock of the changes from understanding how retirement planning has evolved under the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 to navigating tax extenders approved by the Consolidated Appropriations Act of 2020. 
Speakers: Dan Hoops
Credits: 1.0 OT
LAUNCH

3:10 PM – 4:00 PM
Bonus Depreciation Update
The Bonus Depreciation Update presentation will provide information on bonus depreciation and other stimulus related depreciation issues. Our presenter will clarify when these topics are applicable and provide guidance on how to tax plan accordingly. The topics covered will include:
– New bonus depreciation timeline and applicable periods and requirements
– The definition of Qualified Improvement Property new category
– Tax reform changes
– Self-constructed property rules
– Acquired property requirements
– How it interacts with cost segregation
Speakers: Lester Cook
Credits: 1.0 OT
LAUNCH

4:10 PM – 5:00 PM
Choice of Entity in a New World
It is not unusual for a client to ask a tax professional how should I structure my new business? Most often the choice is tax driven. With the tax law changes of the past 5 years, this decision has become much more difficult. The three most common entities are the S corporation, C corporation and LLC. Each has its own advantages and disadvantages. Focus on this choice and the important tax implications of the business entity selection process. What if the entity anticipates losses in the initial years? Will the S corporation qualification requirements be met in the future? What if the client desires to save Social Security taxes?
Speakers: Gary Schwarcz
Credits: 1.0 OT
LAUNCH

4:10 PM – 5:00 PM
An ERC Evolution (Employers’ Retention Credit and Forms 941 versus Form 7200)
Since the pandemic first began adversely affecting our economy and Congress created a novel tax break through the Employee Retention Credit (ERC) to incentivize employers to retain employees- 3 separate laws created or altered the credit. Track the evolution of the ERC, issues, how to claim it and important documentation.
Speakers: David Swatosh
Credits: 1.0 OT
LAUNCH