Register Now for Michigan’s May Seminar and Annual Meeting

Topics

Entity Selections
Discussion of deduction differences, tax reduction strategies, loss limitations, basis associated with sole-prop, partnerships, S Corps & tax planning strategies. We will compare each entity with practical examples.

The Gig Is Up
Handling income in unique industries – what income & write offs are possible (social media, online gamblers, crypto, Only Fans contributors & more)

Hobby or Business
Selling cosmetics to designing jewelry. Walk through hobby tests & create guides to help our clients understand the difference. What can they write off?

Tax Planning Basics
IRA contributions & deductions including 2024 & future limits. Roth conversions, HSA deductions/contributions, tax brackets and more.

QBI
Form 8995, QBID in simplified computation in depth. Clarify limits of QBID, disallowed SSTD, aggregating trades or businesses & netting of QBI.

Schedule E & Beyond
Rental income has become a growing trend: increased regulations, unique planning options, deductions. Qualifications to be a real estate professional as well as unique and creative deductions.

Cybersecurity
Locking down & securing your digital assets in now required. Do you have a properly set up and deployed plan? Leave with a fully drafted policy manual in a hands-on lab you can use in your firm. Geared for firms of 10 or less.

Filing Season Recap
Our panel will be going over what we encountered this past season. Employee Retention Credit updates, SALT work around, Corporate transparency act, added exceptions to penalties, W4, W4P updates, gambling rule updates.

Tax Planning Beyond
Compare tax effects of traditional and Roth IRA’s. RMD’s & QCD’s including split interest trusts, 529 & ABLE accounts, exceptions to early withdrawal.

Installment Agreement
We will cover the many different types of Installment Agreements offered by the IRS as well as steps necessary to establish and maintain the agreement.

Clergy
Tax prep & planning for clergy. Ministerial employees, retirement income, Social Security, all aspects of housing allowance, SE, accountable plans & W2.

1099-K
IRS may require reporting sale of personal items on tax returns. Payment & reporting compliance, discuss new IRS requirements. Confidently navigate reporting complexities, dispel myths & ensure full compliance.

Put It All Together
Participants will be presented with questions & situations that require responses on each of the topics presented. Great review & practical application!

MI-NATP MEMBERS

Our annual meeting will be held next Thursday, May 16 during our convention. One of the items of business for members will be the election of five directors to serve on our Board. We will vote for a director for Region 4, a director for Region 6 and three at-large directors.

If you want to nominate a fellow MI-NATP member or if you would like to nominate yourself, please contact the person shown below. Nominations may be made from the floor at the annual convention.

Directors serve for a three-year term. To be eligible for nomination as a regional director the MI-NATP member has to reside in or have a principal place of business in that region.

MI Chapter of NATP

Election of board members to be held at the annual meeting May 16, 2024.

The 3-year term for the following Board members expires in May 2024:

Rick Stomps Region 4
Sylvia Collins Region 6
Leslie Echols At-Large
Mark Pricco At-Large
Kathy Smith At-Large

See: Region Map – 2023 MI NATP Directors

Welcome to MI NATP!

Marilyn Meredith, EAOn behalf of the Michigan Chapter of NATP (MI-NATP) I want to thank you for your interest in our chapter. Whether you are just starting out in your career or an experienced preparer or anywhere in between, MI-NATP is here to provide you with educational opportunities geared toward broadening and sharpening your skills. I am confident that you will find your membership a rewarding experience in your journey as a tax professional.

Being a part of the National Association of Tax Professionals (NATP), our Michigan mission aligns with theirs and centers around four pillars of success for Michigan members: Industry recognition, industry strength, industry voice and long-term viability.
We look forward to seeing you at future seminars where we will try to keep you abreast of the ever-changing tax laws for Federal, Michigan and Michigan city taxes.

We welcome any and all of your suggestions to make our efforts more effective for each of you.

Marilyn Meredith, EA
President, MI-NATP