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Do you desire to not be tripped up and held back by the passive activity loss, at-risk, basis, new excess business loss rule and newly revamped NOL limitation rules? This course will get you through the woods as unscathed as possible. And, how does the new §163(j) limit on business interest expense play in?

Objectives

To instruct as to the tripling of complexity in loss limitation rules

Highlights

* What is, and is not, a trade or business? Why do we care? Why can we not afford not to care? 
*  All new excess loss limit rule – What exactly is “business income” anyway?
*  Newly revamped NOL rules –  Fundamental game changers
*  Which comes 1st, 2nd, 3rd, 4th and so on? Basis, §163(j), at-risk, passive, excess loss?
*  Passive activity income and loss foundations, interplay, inseparability and separability
*  Must one build her (his or its) own spreadsheet to survive it all?  
*  At-risk, basis limitation and NOL limitation structure and interplay 
*  How loss limit rules interact with §199A
*  At-risk rules reinvention in the courts - But IRS never really finished the rules anyway                     
*  Why I want to be a real estate professional when I grow up? But, am I a pretender? 
*  How will software vendors respond to recent layers? a/k/a Overrides, overrides, overrides and overrides 
*  The age old intricate structure, all that's new and how and why you can't ignore either

Who Will Benefit

Anyone desiring to gain an in-depth working knowledge of all of the old and new loss limitation rules

Credits

Category Amount
Tax 4.00
Yikes, the time is near. Please call NMSCPA at (505) 246-1699 to register.

Leaders

  • Bradley P. Burnett

    Bradley Burnett, J.D., LL.M., is a practicing tax attorney in Colorado with 33 years of tax practice experience. His practice emphasis is on tax planning and tax controversy resolution. He also prepares a handful of tax returns. Prior to establishing his own law firm in 1990, he practiced tax accounting with national and local CPA firms, worked as a trust officer for a Denver bank and managed the tax department as partner in a medium-­-sized Denver law firm. After receiving his undergraduate degree in accounting and law degree (J.D.), he earned a Master of Laws (LL.M.) in Taxation from the University of Denver School of Law Graduate Tax Program. Mr. Burnett has delivered more than 2,900 presentations on U.S. tax law, tax planning and ethics to CPAs, attorneys, enrolled agents, civic groups and corporations throughout all fifty U.S. states, Washington, D.C., the Bahamas, Italy, Greece, Turkey and Canada. He has authored the texts of 30 CPE (or CLE) courses, authored and taught tax materials for Commerce Clearing House (CCH), Practitioner Publishing Company (PPC) and written articles for national and local tax journals over the past 30 years. Bradley served for four years as adjunct professor at the University of Denver School of Law Graduate Tax Program, where he pioneered an employment tax course and occasionally pinch-­-hit in the IRS practice and procedure field. He has also appeared on television answering tax questions for call-­-in viewers of Denver NBC affiliate KUSA Channel 9. Brad has received the Illinois Society of CPAs Instructor Excellence Award for teaching in Chicago and five times has been the top rated, most requested instructor for CPA Society annual tax conferences. Burnett’s seminar style is to deliver the subject matter in briskly paced, enthusiastic and witty fashion. His forte’ is the candid communication of practical ideas relating to tax law.

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