Investment Taxation: The Medicare Tax and Beyond [ITMT Anc]
Subject:
Time: 8-4
Credit Hours:
8.00Price:
Member: $295.00
Non-member: $445.00
Discussion Leader:
Don P. Cochran, CPADon Cochran is a solo practitioner in Apple Valley, Minnesota. His 30 years of practice has been focused primarily in the areas of small business legal and tax consulting, and individual tax, estate, and financial planning. Don has practiced law in both Iowa and Minnesota, was a CPA with the Small and Emerging Business practice of then Big 8 accounting firm, Touche Ross, in Bloomington, Minnesota, and was the Vice President of Tax and CFO with various privately and publicly held companies. He also served as an advanced sales consultant with Securian Financial, Nationwide Financial, and Pacific Life Insurance Company. He developed and provided continuing education on tax and legal planning strategies for small to medium size businesses and wealthy individuals, and worked with insurance wholesalers and financial advisors to understand and implement financial strategies geared towards asset preservation and income in retirement. Don earned his undergraduate degree, a Bachelor of Science in General Science, from the University of Iowa, Iowa City, Iowa, and graduated from the University of Iowa College of Law with his Juris Doctorate. In addition to being an attorney and Certified Public Accountant, he maintains his designations as a Certified Financial Planner® and Certified Retirement Counselor®. He is a member of the Minnesota and Iowa State Bar Associations, and the Minnesota Society of CPAs.
Full Description
Investment Taxation: The Medicare Tax and BeyondJune 24, 2015
AKCPA Office
Anchorage, AK
LATE REGISTRATION POLICY
For registrations received less than 21 days from the course date will be charged a late fee of $50 for each 8 hour course and $25 for each 4 hour course.
Taxpayers are facing the tax on net investment income under IRC Section 1411 and it presents new issues and opportunities. The course considers what items of income and expenses are included in computing the amounts subject to the 1411 tax, the related add-on Medicare 0.9% withholding tax on earned income and the impact of income that is excluded from the definition of investment income on the tax. As well, the course will look at various other tax matters related to investment income.
Major Topics:
Investment income types included in the computation of Section 1411 Medicare tax
Passive activity income definition and inclusion under the Medicare tax
Taxation of income from S corporations under the Medicare tax
Expenses allowed in the computation of investment income
Additional 0.9% HI tax on earned income
Investment interest issues, including tracing and included expenses
Learning Objectives:
Understand the application of the taxes under IRC 1411 and 3101(the "Medicare taxes")
Determine income items that are and are not included in the definition of investment income and expenses that are deductible against such income for purposes of the Medicare taxes
Apply the earned income provisions of the complementary tax under 3101
Understand the application of this tax to pass through interests
Advise taxpayers on tax planning strategies involving investment income
Designed For: CPAs whose clients are impacted by Medicare tax under IRC Section 1411
CPE Credits: 8, Taxes
Level of Knowledge: Intermediate
Prerequisite: None
Acronym: ITMT
Discussion Leader: Don Cochran, CPA
