Don Farmer's Passive Activities: Material Participation Rules, Time Tracking & Compliance Strategies - VIRTUAL

Overview

In part two of this four-part series, tax experts Greg White, CPA, and George Koutelieris, CPA, will dive into the strategies you need to minimize the impact of the passive activity rules. You’ll learn all seven methods for meeting the “material participation” rules and get the latest insights from recent case law on how these rules are being applied today. We’ll break down which activities and time count toward material participation (and what doesn’t) - and give you practical guidance on how to properly document your clients’ hours to stay audit-ready and compliant. If you’ve ever wrestled with the nuances of material participation, this session will make it clear, manageable, and immediately useful.

Highlights

• The seven ways to satisfy the "material participation" rules.
• Deep dives into the "facts and circumstances" material participation rule and the significant participation activity methods.
• Which time counts toward material participation (and which time doesn't count).
• How to document material participation.

Prerequisites

None

Designed For

CPAs and tax professionals involved in the world of tax.

Objectives

• Identify the different ways of satisfying the material participation rules.
• Identify the detailed requirements of the "facts and circumstances" material participation test and the "significant participation activities" test.
• Compute time that counts towards material participation and time that doesn’t count.
• Identify methods of documenting material participation

Preparation

None