Tax Notes from the Fiscal Cliff (In-person or Live Webinar)

Monday, January 14, 2013 (12:00 PM - 2:00 PM)

Sponsored by The Iowa State Bar Association and the ISU Center for Agricultural Law and Taxation

Registration link can be found on the right side of this page (Non-ISBA members, please select the Event Attendee Only option on the registration page to create a profile so you may register).

Activity ID# 102242

Tax Notes from the Fiscal Cliff (In-person or Live Webinar)

Monday, January 14, 2013
12:00 - 2:00 p.m. CST
In-person portion will take place at the ISBA Headquarters
625 East Court Avenue, Des Moines, Iowa, 50309

2012 ISBA Tax School/Farm and Urban Income Tax School Attendee - $35
ISBA Member
- $75
Non-ISBA Member
- $75

Any materials related to this event, as well as joining instructions, will be sent via email days prior to the event. ISBA members, please make sure we have your most up-to-date email address by updating your records.

Attorney CLE Credit (pending): 2 state hours which includes 2 federal hours
Continuing Education RTRPs and Enrolled Agents: This event has been approved for 2 credit hours of Federal Tax Law Updates
Iowa CPAs: This event has been approved for 2 credit hours
(Only enrolled agents and registered tax return prepares wishing to receive IRS CE credit need to provide their PTIN number)

Roger A. McEowen
Joe B. Kristan
Kristy Maitre

This two-hour webinar will focus on the newly enacted tax legislation - H.R 8, the American Taxpayer Relief Act of 2013. Also addressed will be the recently released regulations on the 3.8 percent Medicare surtax on passive income beginning in 2013. The following is a summary of what the webinar will cover:

I. Permanent Extension of Tax Relief
A. Individual income tax rates
B. Repeal of the personal exemption phaseout
C. Repeal of the itemized deduction limitation
D. Capital gains and dividends
E. Marriage penalty relief
F. Dependent care credit
G. Adoption credit
H. Employer-provided child care assistance
I. Child tax credit
J. Coverdell accounts
K. Employer-provided educational assistance
L. Student loan interest deduction
M. Scholarship programs
N. Education credits
O. Alternative Minimum Tax
P. Estate and gift tax

II. Tax Extender Provisions
A. School teacher deduction
B. Mortgage debt relief
C. Mortgage insurance premiums
D. State and local sales tax
E. Contribution of capital gain property for conservation purposes
F. Deduction for tuition-related expenses
G. Work opportunity tax credit
H. MACRS depreciation of certain types of qualified real estate
I. Expense method depreciation
J. First-year "bonus" depreciation
K. Built-in gain recognition period for S corporation stock

III. Energy-Related Provisions
A. Non-business energy property credit
B. Alternative fuel vehicle refueling property credit
C. Plug-in electric motor vehicle credit
D. Cellulosic biofuel producer credit
E. Incentives for biodiesel and renewable diesel
F. Renewable electricity property wind production tax credit
G. Credit for construction of energy efficient homes
H. Credit for energy efficient appliances

IV. Revenue Raising Provisions
A. Roth conversions for retirement plans

V. Farm Bill Extension

VI. Medicare 3.8% surtax regulations

VII. Planning aspect for clients
A. Farm income averaging
B. Deferral contracts
C. Making or revoking an expense method depreciation election on an amended return
D. Farm leases
E. Rental activities and the passive loss rules under the Medicare surtax regulations

Roger A. McEowen is the Leonard Dolezal Professor in Agricultural Law at Iowa State University in Ames where he is also the Director of the ISU Center for Agricultural Law and Taxation. Before joining Iowa State in 2004, he was an associate professor of agricultural law and extension specialist in agricultural law and policy at Kansas State. At Iowa State, Professor McEowen develops and conducts an educational program in agricultural law and policy and is responsible for developing the curriculum and instructional program for the Iowa Farm Income Tax Schools.

Joe B. Kristan is the Roth & Company Tax Technical director. A respected tax technician, Joe's practice includes real estate, manufacturing companies, closely-held businesses, and foreign-owned U.S. operations. Joe works regularly with partnership taxation and corporate acquisitions and restructurings. He frequently teaches at tax schools and is an author of articles for technical and general publications.

Kristy Maitre is an Senior Stakeholder Liaison for the IRS in Iowa.

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