Don Farmer's Passive Activities: Foundational Rules, Income Characterization & Strategic Grouping - VIRTUAL
2.00 Credits
Member Price $79
Non-Member Price $99
Overview
Kick off this four-part seminar with tax experts Greg White, CPA, and George Koutelieris as they demystify the complex world of passive activity rules. In this first session, you’ll build a rock-solid foundation by learning how to distinguish passive income from nonpassive income and understand the reasoning behind Congress’s creation of these rules - a key to making smart grouping decisions. We’ll take a deep dive into how to group activities in the most tax-efficient way, plus cover clever strategies like creating passive income generators and avoiding the permanent loss of passive activity carryovers. If passive activity rules have ever felt overwhelming, this engaging, practical session will help you turn confusion into confidence.
Highlights
- Congressional purpose behind the passive activity rules.
- Distinguishing passive income from nonpassive income.
- Grouping activities to reduce the impact of the passive activity rules.
- Creating "passive income generators" to increase deductible passive losses.
Prerequisites
None
Designed For
CPAs and tax professionals involved in the world of tax.
Objectives
- Identify the Congressional purpose behind the passive activity rules.
- Discover grouping strategies that can benefit your client.
- Apply the "passive income generator" strategy.
Preparation
None
Leader(s):
- George Koutelieris, ACPEN Business Professionals Network
- Greg White, ACPEN Business Professionals Network
Leader Bios
George Koutelieris, ACPEN Business Professionals Network
George Koutelieris is a shareholder with the firm Johnson & Shute P.S. He subsequently received his Masters in Taxation from Golden Gate University graduating with Highest Honors in 2010 and being awarded the Outstanding Graduate Tax Student Award for the Seattle campus of Golden Gate. He is currently an Adjunct Professor at Golden Gate University teaching various tax courses. George’s practice includes planning and consulting on complex transactions including formations, liquidations, mergers and acquisitions, purchase and sales, multi-state and international tax for closely held businesses and their owners. In addition, George provides compliance and representation services before the IRS and various State taxing agencies for clients. George is also an active speaker on various tax topics, having presented in the past for Golden Gate University, the Washington Society of Certified Public Accountants and the Oregon Society of Certified Public Accountants.
Non-Member Price $99
Member Price $79