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Jennings
Seminars
Tax Pro News |
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By Practitioners, For
Practitioners |
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Webinars & E-Books Now Online!
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Our EBooks are Reference Manuals in
Hyperlinked PDF format to read at your
leisure!
Check
out our
New Webinars
1 Hour,
practical and easy to attend-the 1st one is April 18th.
www.TAXSPEAKER.com
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2007 Seminar
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In 2007 we will
continue to push the envelope for attendees at our
seminars. What will you get this year? The
industry's best reference manual, a free E-Book of
every seminar you attend, which has
been hyperlinked to the underlying free tax research library. And
in 2007, every seminar attendee will also receive a free E-Book
CD of their seminar which has been hyperlinked, bookmarked and
indexed!
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New Cities in 2007
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We are expanding
again this year. We are adding Chicago,
Louisville and St. George Utah to our
list of cities in which we self-sponsor seminars, and we
are expanding our seminar coverage in every other self-sponsored city by
adding new seminars, in-depth seminars, multiple seminar discount packages and more
topics.
Society sponsors
have now added a number of cities and states for
us in California, Georgia, Idaho, Illinois,
Minnesota, New Mexico, North
Carolina, North Dakota,
and we are pleased to welcome the
Idaho & Minnesota CPA Societies and
the Oregon Society of Accountants to our
list of new sponsors! We now are in
27 states-thanks to everyone for your tremendous
support.
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NEW PRODUCTS
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On our new
website you can now download E-Books, register for
webinars, take CPE exams, print your own
certificates from past seminars, keep track of
your CPE, view old newsletters and articles, order
self-study products, register for
seminars, download free products, and much, much more. Please visit
it and let us know what you think.
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IN THIS
ISSUE: |
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2007 Tax Season in
Review |
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S
Corporation Return Problems |
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Technology
Revolution |
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Estate
Tax Issues and
More |
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Look for our
National Mailer in your Mailbox on April 19th or
20th. |
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2007 Tax Season In
Review
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The IRS has
reported record numbers of e-Filers from both professionals
and individual home computers. Professionals
e-filed 5% more returns than in 2006 and a
whopping 8% more individuals efiled their returns
this year compared to last
year. |
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Just as we
predicted. the telephone tax was a big pain in the
rear. Individuals "reminded" us of it with phone
calls, letters and file notes. Businesses called
us 6 weeks after filing their returns and wondered
why they got a refund, and we estimated the refund
amount after the first 2 weeks of tax season for
businesses because it wasn't worth all of the
hassle to try to figure the actual number when we
will pick it up as income next
year. |
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Jackson
Hewitt received possibly the worst press coverage
possible when the Federal government filed suits
against a number of employees of a major
franchisee. The US claims fraud on up to 105,000
annual returns filed by the individual who
operates franchises in Chicago, Atlanta, Detroit
and Raleigh-Durham. |
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S Corporation Return Problems
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 We continue to see incorrect S corporation returns
filed by other professionals. Are you aware
of the top two major S corporation tax errors? First,
if the K-1 from the S corporation refelects a loss, the
deduction is limited to basis and the instructions to
Schedule E, Page 2, Line 26 state that a basis schedule
must be attached to the return to deduct the loss.
Second, we see a huge number of professionals, including
those at regional firms, taking a deduction on Schedule
E for "unreimbursed shareholder expenses" No such
deduction is allowed! There is a special rule for
partner's expenses, but no such rule exists for
shareholders.
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Technology
Revolution!
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 A couple of the
major tax software vendors rolled out a new "scan to tax
return" product that was supposed to scan in a W-2 or
equivalent form and import it directly into the tax
software. We tried it in our firm this year-at our 2007 "Real" Technology Seminars
we will show you how it does (and doesn't) work.
And yes, we will buy it again next year, but watch
out for the problems. In 2007 we will offer the
technology seminar in Green Bay on May 4, Fredericksburg, VA
on May 21, Cleveland on June 5, San Fransisco on
July 10, Indianapolis on July 17, Oklahoma City on July 30, and
Fargo on August 14.
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Estate Tax Issues
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Remember in 2007
that the estate tax exclusion amount is
still $2,000,000. The gift tax exemption is still $12,000
this year, also unchanged from
2006.
The exemption items for estate tax include the
$12,000 per person per year exemption, the
education cost exemption, the medical care exemption and
the $1,000,000 lifetime taxable gift
exemption.
Our brand new estates &
trusts seminar will cover your estate & trust tax
issues this year. We will be providing this
seminar in Cleveland on June 6, Fargo on June
28, Indianapolis on July 19, Garden City
on August 2, Ft. Collins on August 24,
and Portland, Oregon on October
18th.
Compilations &
Reviews
Possibly
the only accounting course in the country that is
actually interesting and guaranteed practical, our
totally revised 2007 compilation and review course will
be offerred in Ames on May 21, Cleveland June 4,
Portland, Oregon on June 7 & 8, Fargo on June 29,
Indianapolis on July 18, Garden City on August 1, South
Bend on August 6, FT. Wayne on August 7, Louisville on
August 10 and Ft. Collins on August 23.
Combination
Discounts
We are offering substantial discounts for our new
multi-seminar packages on all of our self-sponsored
cities. Look for your mailer around April 19th or visit
the website at www.TAXSPEAKER.com
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Remember 2008 will see the return of our Alaska cruise, this time with
a land tour
option! | |
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The Jennings
Seminars newsletter is a publication of Jennings Advisory Group,
LLC. All rights reserved. (c) Copyright 2005-2007. All information
in this newsletter is based on interpretations by the author,
official source material must be consulted for specific advice.
Neither Jennings Seminars nor Jennings Advisory Group, LLC
provides any assurance that the information provided herein is
complete, authoritative or applicable to specific situations, for
which independent research with the appropriate official source is
required. Unsubscribe
to taxspeaker@gmail.com
www.TAXSPEAKER.com
Jennings Seminars
830 Eastern
Blvd.
Clarksville, Indiana 47129
Phone:
877-466-1040
Fax: 866-223-2696
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