Thursday, January 17, 2019 – Thursday, January 17, 2019 | 8:00am – 4:40pm

State Tax Conference

The start date for this course has passed. Registration is no longer available.

January 17, 2019
Double Tree By Hilton, Westborough

 

 

Agenda

7:00 – 7:50 a.m.

Early Bird Session

Massachusetts Tax Connect: Ask an Expert
Gil Gonzalez, Massachusetts Department of Revenue

 Join Gil Gonzalez from the Massachusetts Department of Revenue to learn more about MA Tax Connect, have your questions answered and learn all the features to make busy season more productive and efficient.

8:00 – 8:10 a.m.

Opening Remarks

Amy Pitter, Massachusetts Society of CPAs

 

8:15 – 9:15 a.m.

DOR Update

Chris Harding, Massachusetts Department of Revenue

Rebecca Forter, Massachusetts Department of Revenue

Dana Ackerman, Massachusetts Department of Revenue

 Join Commissioner Chris Harding and senior leaders from the Department of Revenue for updates on: the latest administration initiatives, news from Rulings and Regs., briefing from the Taxpayer Advocate and more...

9:15 – 10:00 a.m.

Appellate Tax Board Update

Mark DeFrancisco, Esq., Massachusetts Appellate Tax Board

During this session, you’ll learn best practices for a CPA’s participation in Appellate Tax Board (ATB) litigation, examine the ATB’s mediation program and small claims procedure, receive an overview of recent ATB and appellate court decisions and more.

10:00 – 10:15 a.m.

Networking Break

 

10:15 – 11:30 a.m.

Federal Trends

Joe Crosby, MultiState Associates, Inc.

Karl Frieden, Council on State Taxation

The past year produced two "once in a generation" changes to state and local taxes – federal tax reform and a repudiation of 50 years of Supreme Court jurisprudence regarding state tax jurisdiction. We’ll discuss how states are responding and more importantly, how  they should respond. This panel will roam the sizzling state tax landscape discussing topics such as the state taxation of Global Intangible Low Taxed Income (GILTI), the ascendancy of economic nexus, the future of the Streamlined Sales and Use Tax Agreement (SSUTA) and sales tax simplification, the potential divergence of federal and state income tax approaches and the bright and dark side to state fiscal outlooks.

 

11:30 a.m. – 12:45 p.m.

Wayfinding after Wayfair

David Nagle, Sullivan & Worcester, LLP

Adam Giera, Thompson Tax & Associates, LLC

 Join us for a discussion of the multistate tax compliance challenges facing sellers after the U.S. Supreme Court’s decision in South Dakota v. Wayfair.  The panel will focus on the consequences of eliminating physical presence as a necessary condition for substantial nexus and the critical decisions for businesses under states’ differing and still evolving economic nexus regimes.  In addition to the legal limits on state tax jurisdiction after Wayfair, the panel will address collection and reporting obligations both pre- and post-Wayfair, compliance best practices, and potential income tax ripple effects for multistate businesses and trusts.

12:45 – 1:30 p.m.

Lunch

 

1:30 – 2:45 p.m.
Concurrent Sessions (choose one)

 

Taxation of Cryptocurrencies

Anthony Aniello, Jr., CPA, Withum
Stephen Yardumian, CPA, Withum

Cryptocurrencies and blockchain technology continue to be a global phenomenon. While many regulators, governments, banks and many companies are aware of its importance and impact, some are still getting up to speed. There are currently over 1,600 types of cryptocurrencies today which are built using blockchain technology. Having a high-level understanding will help guide practitioners through this changing business landscape and address the questions and concerns of their clients. By attending this session, attendees will gain:

  • An understanding of blockchain technology and cryptocurrencies;
  • Regulatory guidance on cryptocurrency, including IRS guidance and related tax issues;
  • Basic understanding the nature and issues surrounding Initial Coin Offerings (ICOs) and other current events; and
  • A view of the future of cryptocurrency and blockchain.

 

 

Update on Tax Reform Law

Steve Burke, McLane Middleton

Audrey Young, McLane Middleton

One of the primary goals of the 2017 Tax Act was to reward business owners operating as pass-through entities with a 20% deduction. The resulting new code section, 199A, is complex with definitions and hurdles that must be navigated. Last month, the IRS released proposed regulations to clarify both the application and the implementation of 199A. This seminar will discuss the new regulations and provide an in-depth look at the elements of 199A, including the calculation of Qualified Business Income, the limitations based on the entity's W-2 wages and qualified property, the exclusion for specified service trades or businesses, the income restrictions and more!

 

2:45 – 3:00 p.m.

Networking Break

 

3:00 – 4:15 p.m.

Concurrent Sessions (choose one)

 

Tax Considerations for Emerging Cannabis Business

Richard Hindlian, Davis, Malm & D'Agostine, P.C.

Andrew Myers, Davis, Malm & D'Agostine, P.C.

Recent legislation permitting medical and recreational cannabis use in Massachusetts creates economic and business opportunities, as well as strict regulatory governance for this emerging industry. What are the tax implications on a marijuana business that is legal in the Commonwealth of Massachusetts, but illegal under federal law? This session will provide an overview of Massachusetts cannabis law and state and federal tax issues. We will also explore the considerations for organizations converting from nonprofit to for-profit entities, examine ways in which state taxes vary for medical and recreational marijuana businesses and review the tax repercussions for businesses under Section 280E of the Internal Revenue Code.

 

Tax Cuts and Jobs Act Major Impacts on Federal and State Depreciation

Phil Mann, MS Consultants

This seminar will discuss the use of various depreciation strategies that can be implemented using provisions enacted with the Tax Cuts and Jobs Act, including 100% bonus depreciation, the expanded 179 expensing election, qualified business income deduction and the interest expense deduction limitation. In addition, the seminar will review the differences in federal and Massachusetts depreciation deductions and their potential impact on tax planning decisions. It will also provide in-depth examples of various tax strategies from the date an asset is acquired to renovations or additions made to the asset to the ultimate disposal of the asset, and also focus on how the capitalization rules from the Tangible Property Regulations are impacted by the Tax Cuts and Jobs Act in 2018.

This conference qualifies for the Workforce Training Express Fund program. The course code for this program is 1118107
Click here for more details:
https://www.mscpaonline.org/cpe/training_fund

Sponsors

Conference Credits

This course is 8.00 credits

Conference Fees

MSCPA-AICPA Member
$319.00
MSCPA Member
$319.00
AICPA Member
$399.00
Non-Member
$399.00

Conference Cost

You pay
$399.00
MSCPA Members save $80.00 on this course. Login or Join to take advantage of these savings.

The start date for this course has passed. Registration is no longer available.