Education Schedule
Thursday, November 7
8:30-9:45am (75 Minutes)
What the
Criminal Investigation Division Does
Speaker: Special Agent Joshua Bottjer, Las Vegas Criminal
Investigation Division, IRS
This session will discuss which statutes we
cover,
and talk about recent significant cases that would be of interest.
9:45-11:00am (75 Minutes)
FBAR: A
Workshop on Current Issues with Foreign Bank Account Reporting
Speakers: Eric Morgenthal, Esq., CPA, Law Office of Eric L. Morgenthal, PLLC and Marc Schwartz,
Esq., CPA, Schwartz International
This workshop will
include discussion on the requirements, penalties and advice on when the client
hasn’t reported it. Where are we now and how to deal with the IRS.
11:10-12:00pm (50 Minutes)
Income Tax and
Estate Planning for Art and Collectibles
Speaker: Jeremiah W. Doyle IV, BNY Mellon Wealth Management
Artwork, cars, wine
collections and baseball cards. More and more client’s estates hold
collectibles as an asset yet few clients know how to handle the income tax and
estate tax issues these assets present. This session will discuss the income
tax consequences of owning collectibles and the different treatment afforded
dealers, collectors, creators and investors. In
addition, the complicated rules regarding the charitable gifting of tangible
personal property will be highlighted including a discussion of the future
interest rule, the related used rule, the use of a private operating foundation
to maintain a collection and the fractional sales of art. If time permits,
there will be a quick review of what common estate planning techniques work and
don’t work to successfully transfer collectibles.
1:30-2:20pm (50 Minutes)
Avoiding Surprises! Understanding
the Valuation of Existing Life Insurance Contracts
Speaker: Randy
Zipse, Esq., CPA, Highland Capital Brokerage
The general rule for valuing a life
insurance policy is to use the property’s fair market value applying the
familiar willing buyer-willing seller standard. Sounds easy enough, yet there
is no generally accepted formula for determining the fair market value of an
existing policy. For the most part, with the exception of some relatively
recent rules created for the valuation of life insurance distributed out of
qualified plans, policy valuation guidelines were developed roughly 40 years
ago when whole life and term life policies dominated the industry. Existing
guidelines never anticipated today’s flexible life insurance products. Maybe
even worse than the inconsistency of the IRS guidelines is the inconsistency of
life insurance carrier internal rules on valuation of policies. Very similar
products can be valued very different from one carrier to another. This
presentation will familiarize the audience with IRS valuation guidelines, will
discuss various carrier valuation methodologies, and will discuss strategies
for advisers contemplating the transfer of existing life insurance contracts.
Anyone with clients making gifts of existing life insurance contracts or with
businesses that own life insurance need to understand these issues and the
landmines created by the uncertainty.
2:30-4:10pm (100 Minutes)
“Business Planning Practice Building
with BusinessDocx®”
Speaker: Matthew T.
McClintock, JD, WealthCounsel
Grow your own business and develop a
system of lifetime--and life cycle-- care for your business clients. From
document drafting to tried and true marketing techniques, this session will
take a focused look at BusinessDocx and how to enhance your practice from the
perspective of one of the system’s key contributors.
Saturday,
November 9
8:30-11:00am (150 Minutes)
Fraud in Non Profits: Forensic
Accounting Tools and Techniques
Speaker: Marta
Alfonso, Esq., CPA, MBAF
This session will provide participants
the red flags and techniques to assess and identify fraud in nonprofit
entities. This session will qualify for 3 A&A hours.
11:15am-12:05pm
(50 Minutes)
Ethics Part I: Where the Lawyer Ends
and the CPA begins
Speakers: Jon
Marseglia, Esq., tax intern, L J Sullivan, CPA, LLC, Richard M. Orin, Esq., JD, LLM, CPA, Jim Rigos, Esq.,
CPA, Rigos Bar
and Accountancy Review Series and Syd Traum, Esq., CPA, Levey, Filler, Rodriguez, Kelso & Magilligan, LLP
Dual practitioners are required to comply
with two sets of professional standards and ethical practices, as well as the
client confidentiality privileges of both professions. But what determines
whether a dual practitioner is acting as an attorney, as a CPA or as both? This
session will examine situations where dual licensure can possibly help as well
as hinder both the dual practitioner and his/her clients.
1:10-2:00pm
(50 Minutes)
Ethics Part II: Where the Lawyer
Ends and the CPA begins
A continuation of the above program
2:05-2:50pm (50 Minutes)
Proposed Revisions to Circular 230—
Death of a Legend
Speaker: David
Golden, Esq., CPA, Troutman Sanders LLP
The objective of this session is to review the proposed regulations
to Circular 230. The regulations significantly modify the covered opinion
rules. The presentation will also discuss the recent action Loving v. Internal
Revenue Service where the United States District Court for the District of
Columbia held that income
tax preparation was
not practice before the IRS.
3:00-3:50pm (50 Minutes)
Recent Developments in Tax
Jurisprudence in the Federal Circuit and Court of Federal Claims
Speaker: Professor
Tim Todd, Esq., CPA, Liberty University
The United States Court of Federal Claims
and its appellate court, the United States Court of Appeals for the Federal
Circuit, offer another avenue for tax controversy jurisdiction. An understanding
of recent precedent in these two courts can greatly aid the practitioner as he
or she selects a tax controversy forum, especially if trying to avoid the Tax
Court’s application of Golsen v. Comm’r, 54 T.C. 742 (1970). This session will
analyze noteworthy tax precedent, recent tax cases and developments, and why a
practitioner would file a claim here instead of another tribunal.
Meet Our Speakers
Marta Alfonso, Esq., CPA,
CFF, CIRA, is a principal in the Management Advisory Services Department at
MBAF.
With a strong background in forensic accounting, insolvency and
bankruptcy, turnarounds, litigation support and financial management, Marta
offers clients extensive financial experience and a deep understanding of
critical legal issues. Trained as both an accountant and an attorney, she has
worked in a range of consulting and in-house corporate roles since 1983.
Before joining MBAF, Marta served in
key positions with a national accounting firm, providing financial and
accounting guidance for Chapter 7 and Chapter 11 federal bankruptcies. In this
role, she also served as a federal receiver for multi-million dollar
companies, performed due diligence services for real estate and manufacturing
clients, and provided expert consultation and testimony in cases related to
bankruptcy and insolvency, receivership, criminal RICO, domestic and
international money laundering, accounting malpractice, and marital dissolution.
Marta's experience with bankruptcy,
receivership and restructuring issues includes years of service in accounting
and consulting positions. She has served as the chief restructuring officer of
a healthcare service organization, as a state court receiver for a money
transmission company, and as a consultant on federal bankruptcy cases. With
expertise in both management and technology, she has worked as the interim
chief information officer for a large consumer transportation company, and has
provided financial and operational management support, technology consulting,
and regulatory compliance counsel to both for-profit and non-profit
organizations in South Florida and beyond.
In the areas of litigation support
and forensic accounting, Marta has consulted in defense of securities and
exchange fraud and bank fraud clients, and has served as an expert witness
before the Florida Supreme Court Referee and Miami-Dade County Grand Jury
relative to a multi-million dollar forensic accounting project.
Along with her private sector work,
Marta has also served with the U.S. Department of Housing and Urban
Development, where she was comptroller for the Federal Housing Administration
and director of the Office of Asset and Credit Management. In these positions,
she helped to evaluate and develop organization-wide accounting systems, while
overseeing an array of financial management and information technology
functions.
Special Agent Joshua Bottjer, Las Vegas Criminal Division, IRS
Special Agent Bottjer is a graduate of Arizona State's W.P Carey
School of Business where he earned a Bachelor?s degree in Finance (summa cum
laude) and a Masters degree in Taxation. Upon graduation Mr. Bottjer worked
with the international accounting firm KPMG, LLP. After KPMG, he spent time in
wealth management assisting small business owners before becoming a Special
Agent. As a Special Agent, Mr. Bottjer has worked numerous cases
involving Titles 18, 26, and 31. Special Agent Bottjer is the recipient of the
2013 Chief's Investigative Excellence Award for his contributions as the
co-leader of the Las Vegas Financial Crimes Task Force.
Jeremiah W. Doyle IV, Esq., Senior
Vice President, BNY Mellon Wealth Management, is
an estate planning strategist for BNY Mellon's Private Wealth Management group
and a Senior Vice President of Bank of New York Mellon. He has been with the
firm since 1981. Jere provides high net
worth individuals and families throughout the country with integrated wealth
management advice on how to hold, manage and transfer their wealth in a tax
efficient manner.
Jere is admitted to practice
law in the Commonwealth of Massachusetts and before the United States District
Court, United States Court of Appeals (First Circuit) and the United States Tax
Court. He formerly served as a member of the Massachusetts Joint Bar Committee
on Judicial Appointments. He is the editor and co-author of Preparing Fiduciary Income Tax Returns,
a contributing author of Preparing Estate
Tax Returns, a contributing author
of Understanding and Using Trusts,
a contributing author of Drafting Irrevocable Trusts in Massachusetts
all published by Massachusetts Continuing Legal Education, a reviewing editor
of the 1041 Deskbook published by Practitioner’s Publishing Company and a contributing columnist for Estate Planning Review – The Journal published
by Commerce Clearing House.
Jere is a lecturer in law in
the Graduate Tax Program at Boston University School of Law. He received a LL.M. in banking law from
Boston University Law School, a LL.M. in taxation from Boston University Law
School, a Juris Doctor from Hamline University Law School and a BS in
accounting from Providence College.
He is a member of the American
Bar Association, Massachusetts Bar Association, Boston Estate Planning Council
and the Essex County Bar Association. He
served as president of the Boston Estate Planning Council and currently serves
as a member of its Executive Committee and was a 20-year member of the
Executive Committee of the Essex County Bar Association. He is also a member of
the steering committee for the American Institute of Certified Public
Accountants Advanced Estate Planning Program. He was named as the “Estate
Planner of the Year” in 2009 by the Boston Estate Planning Council. In 2011 he
was elected to the National Association of Estate Planners & Councils
(NAEPC) Estate Planning Hall of Fame as an Accredited Estate Planner®
(Distinguished). He has spoken at numerous professional education programs
throughout the country on various topics, been quoted in numerous business
publications and has appeared on CNBC, MSNBC and CNN.
David F. Golden, Partner, Troutman Sanders LLP, work includes planning, compliance, transactions and civil tax controversies. He is involved in a variety of matters relating to state and federal taxation of corporations, partnerships, individuals, tax exempt entities and industrial development bonds. He also provides a full range of trust and estate planning services.
David developed litigation strategy and
participated in the litigation of AT&T v. Collins, in which Fulton County
Superior Court and the Georgia Court of Appeals, in a case of first impression,
sanctioned the use of the unitary method of apportionment, representing a
multimillion dollar state tax savings to AT&T. David served as Bond Counsel preparing all
required bond documents to enable owners of manufacturing facilities,
warehouses and office buildings to obtain significant property tax abatements
and successfully negotiated the value of a closely held business with the
District Counsel's office of the IRS where the liquidation value of the
business was far in excess of the going concern value. He has designed a creative compensation
package permitting the owner of a successful small business to attract and
reward qualified personnel while retaining 100 percent ownership in the
business; represented the purchaser and negotiated all tax aspects in a $20+
million stock acquisition, including treating the transaction as an asset
purchase for income tax purposes to maximize the purchaser's tax benefits and developed
tax savings strategies to enable a seller of stock in his closely held company
to eliminate approximately $1.5 million of income tax liability.
David was selected as a Super Lawyer in Estate Planning & Probate by Law
& Politics and Atlanta Magazine (2004-2013). Named to Georgia Trend magazine’s Legal
Elite in taxes, estates, and trusts (2004-2011).
Jonathan Marseglia,
Esq.
, tax intern, L J
Sullivan, CPA, LLC is working towards obtaining his CPA licensure. Jonathan has served on
the New Mexico State Bar's Ethics Advisory Committee since 2010 and has written
the majority of the committee's opinions since joining, averaging one opinion
per month. He has an LL.M. in International Tax and Finance from Thomas
Jefferson School of Law, a Juris Doctor and M.B.A from Regent University, a
Bachelor in Accounting from Western Governors University, and a Bachelor of
Business Administration from Coastal Carolina University.
Matthew T. McClintock, JD, serves as Vice President of Education
& Supplemental Legal Content for The WealthCounsel Companies, a
collaborative organization dedicated to promoting collaboration and excellence
in estate planning, business planning, succession, and estate administration.
Matt also serves on the teaching faculty for WealthCounsel's continuing
education programs and writes blogs and articles on trending issues in estate
planning.
Before
serving as Vice President of Education, Matt served for four years as Chief
Executive Officer of WealthCounsel. Since joining WealthCounsel’s staff in
2006, Matt has also served in various editorial, strategic, and development
roles. Before joining WealthCounsel, Matt practiced as an attorney in Oklahoma
City, Oklahoma, with a practice focused on estate and wealth planning, probate,
guardianship, business planning and succession, and trust administration and
taxation. Matt received his Juris Doctor from the University of Oklahoma
(2000), and holds a Bachelor of Arts (Political Science) from the University of
Central Oklahoma (1994).
Matt
guides the strategic objectives for WealthCounsel’s education initiatives in
its many forms, with an emphasis on making high-quality professional education
relevant, practical, and accessible for attorneys and other wealth planning
professionals. In addition to his pursuits at
WealthCounsel, Matt is an avid road cyclist and amateur racer. He and his wife
Megan, their two daughters, and their dog live in beautiful Evergreen,
Colorado.
Eric L. Morgenthal,
Esq., CPA, Law Offices of Eric L. Morgenthal, PLLC, concentrates his practice
exclusively in Federal and New York State Tax Dispute Resolution. Eric was
formerly a Tax Attorney with a Long Island law firm and prior to that was an
International Tax Manager for Ernst & Young, LLP and a Tax Associate with
BDO Seidman, LLP. He is experienced in providing Tax Audit Defense and Tax
planning to closely-held business and their owners with foreign and domestic
tax matters. He has served as legal advisor to individuals, trusts, estates,
corporations, limited liability companies, partnerships and tax-exempt
organizations. Eric has represented numerous clients before the Internal
Revenue Service and the New York State Department of Taxation and Finance along
with multiple other state tax agencies at all levels of the assessment and tax
collection process. He has extensive experience with audits involving Trust
Fund deficiencies including Federal/State Payroll Taxes and particularly with
New York State Sales Tax, Income and Franchise Tax. In 2009, he was nominated
by the Suffolk County Bar Association for the New York State Bar Association
"Outstanding Young Lawyer of the Year" award.
Eric has frequently lectured at the
Suffolk County Bar Association on topics involving recent legislative tax changes,
Taxation and Estate Tax Planning, Corporate Tax Reorganizations, New York State
Sales and Use Tax, IRS & New York State Tax Audits, Tax Litigation, and
Business Succession Tax Planning. He had chaired the Long Island Non-Profit
Symposium which concentrated on tax issues faced by Tax-Exempt Organizations.
He has also lectured on New York State Corporate, Sales & Income Taxation
at the Annual Tax Conference for the New York State Society of Certified Public
Accountants.
James J. Rigos, J.D., LL.M.,
CPA-CMA-CFM, Rigos Bar and Accountancy
Review Series, is an attorney-CPA who has written and lectured widely in
accounting, ethics, and legal topics. He graduated from Boston University
Law School and has served on the AICPA's Accountants Liability committee.
He is presently a National Director of the American Association of
Attorney-CPAs, a former officer and State President. 2012 is
the 32nd year the business has operated. He enjoys teaching review
courses because it adds intellectual value to the careers of young
professionals. Jim lives in Seattle, Washington with his wife Doreen, who
is also a teacher.
Marc Schwartz, Esq., CPA, Schwartz
International, has
lived and worked in the US and abroad in both governmental and private sector
roles. His diversified experience has allowed him to bring a global perspective
to the business. He holds a B.A. from Colgate University, a Master’s in
International Affairs from Columbia University, and a law degree from Emory
University. He is also a CPA.
Marc
began his career at the Big 6 in his hometown of Atlanta, Georgia. Here he
built a strong foundation in federal, state/local and international tax over
several years for both individual and corporate clients. He transferred to the
firm’s Mexico City office and developed an expertise in Latin American tax to
supplement his European, Asian and U.S. tax base. He built on this experience
when he was sent to help develop the firm’s Miami-based business. In Miami, he
developed additional experience with inbound investment to the US.
Marc’s
geographically diverse client base has allowed him to gain significant
experience with tax treaties, outbound/inbound planning, repatriation, foreign
tax credits, real estate investments/FIRPTA, branch taxes and audit defense. He
has taught a graduate level international tax course at the Universidad
Panamericana in Mexico City. Today he continues to lecture on international tax
issues, provides training courses for CPA firms and he also writes for various
trade publications. Marc is fluent in Spanish.
Timothy M. Todd, JD, MS, CPA, assistant professor of law
at Liberty University School of Law in Lynchburg,
Virginia, teaches taxation, business planning, and other transactional law
courses. He clerked for the Hon. Eric G. Bruggink of the United States Court of
Federal Claims in Washington, D.C. He also holds a master’s degree in
accounting. He is admitted to the bars of the Supreme Court of Virginia, the
United States Court of Appeals for the Federal Circuit, the United States Court
of Federal Claims, and the United States Tax Court. He is a member of the
Virginia State Bar, the U.S. Court of Federal Claims Bar Association, the
American Bar Association, and the American Institute of Certified Public
Accountants.
Sydney S. Traum, BBA, JD,
LLM, CPA, Levey, Filler,Rodriguez,
Kelso & Magilligan, LLP is author of The S
Corporation: Planning & Operation and also The S Corporation Answer
Book, both published by CCH/Aspen Publishers, Inc. Recently he authored
articles in The Tax Adviser and the Journal of Accountancy. The Florida
Institute of CPAs (FICPA) Editorial Committee named Traum as the winner of the
2011 Writing Excellence Award for his article, "Update on S
Corporations," which was published in the January/February 2011 issue of Florida
CPA Today.
A licensed CPA and attorney in
both New York and Florida, Sydney is a past president of the American
Association of Attorney-CPAs; the Dade County Chapter of the FICPA ; the
Greater Miami Tax Institute; and Beth David Congregation in Miami. He is a past
chair of The Florida Bar Committee on Relations with CPAs. He is currently the
Board Chairman of the Florida Association of Attorney-CPAs and is Treasurer of
the Harvard Club of Miami. Sydney is currently serving as a member of the
American Association of Attorney-CPAs Executive Committee, the FICPA Federal
Taxation Committee, the American Bar Association Tax Section S Corporations
Committee, The Florida Bar Probate Rules Committee, and of the Board of
Directors of the FICPA Miami-Dade County Chapter. He was previously a member of
the American Institute of CPAs Tax Division S Corporation Technical Resource
Panel.
Sydney received his BBA from
the Baruch School of the City College of New York (CCNY), now known as Baruch
College, his JD from Harvard Law School, and his LLM in Taxation from New York
University Law School. He is Florida Bar Board Certified in Taxation and in
Wills, Trusts and Estates. Traum is rated AV by the Martindale-Hubbell Law
Directory.
Randy Zipse, Esq., CPA, Sr. Vice President, Highland Capital
Brokerage (HCB), serves
as Sr. Vice President, Advanced Sales. In this position, Randy provides
advanced sales support across the company, assisting distribution channels and
working with sales vice presidents, independent producers, and financial
institutions to develop business opportunities and enhanced advanced marketing
solutions for clients. Additionally, he is responsible for providing leadership
to HighCap Financial, strengthening membership and enhancing the membership
experience.
Randy
has written numerous articles on trust taxation, estate planning, and business
succession planning, which have appeared in the Journal of Financial Service
Professionals, Broker World, Estate Planning, Life
Insurance Selling, LAN, and the National Underwriter news
magazines. He is coauthor with Stephan R. Leimberg of Tools and Techniques
of Charitable Planning. He has also been a frequent lecturer at industry
meetings, including AALU, International Forum, Million Dollar Round Table, New
York University Tax Institute, University of Miami Heckerling Tax Institute,
and the Hawaii Tax Institute. Randy also serves as author of National
Underwriter’s popular Field Guide publication, and is a member of
the Tax Facts Editorial Board. Tax Facts is among the most highly
circulated tax publications.
Prior
to joining HCB, Randy was with John Hancock (USA) where he was responsible for
the Advanced Markets Group, which provided estate and business planning support
to home office employees, field personnel, and producers. Prior to joining John
Hancock, Randy was Senior Counsel and VP of the Manulife Financial Advanced
Markets team. Before that he worked as an attorney in private practice. An
honors graduate of the University of Northern Iowa, Randy subsequently received
his J.D. from Drake University College of Law (Order of the Coif, class rank
number one), and is a member of the Iowa, Texas, and Missouri Bars.