May 2, 2008
Joint meeting concludes tax series
~ written by J. Troy Terakedis
The Business Tax Committee and Estate and Gift Tax Committee will be held on Wednesday, May 14, and will end the Taxing Matters Series presented by the Business Tax Committee. The meeting is panel format and will cover three hot topics that have been the subject of recent discussions of many tax practitioners.
The first topic will focus on certain circumstances in which a “qualified subchapter S subsidiary” (“QSUB”) is properly treated as a separate entity from its parent corporation, will address Rev. Rul. 2008-18 dealing with payroll reporting by a QSUB, and will consider whether a limited liability company or a QSUB is the preferable choice of entity for an S corporation subsidiary. The second topic focuses on changes made by The Small Business and Work Opportunity Act of 2007 permitting certain limited liability companies owned by a husband and wife to be treated as sole proprietorships for tax purposes and will explore planning opportunities of which tax practitioners should be aware as a result of these new rules. The final topic will focus on recent changes to penalties applicable to return preparers and their impact on the preparation of tax opinions.
The panel will include myself, J. Troy Terakedis, a partner with Calfee Halter & Griswold; Chris Axene, a CPA and principal with Rea & Associates; and Necol Russell-Washington, an attorney with Carlile Patchen & Murphy. The Business Tax Committee and Estate Gift Tax Committee hope you will be able to join us for this special meeting.
Lunch may be purchased prior to the seminar from 11:45 – 12:15 on a first come, first served basis. No food may be consumed during CLE from 12:15 – 1:15 for 1.0 hours of CLE credit. You may audit the course, but only those registered to attend receive CLE credit. Click here to register online, or phone 614/221.4112 for event #3718-9. The cost is $30 prepaid/$35 day of for members of the Ohio Society of CPAs or Columbus Bar, $45 prepaid/$50 day of for non-members and $20 prepaid/$25 day of for paralegals.