MNCPA Tax Conference

O Sessions

Wednesday, November 16,
11:20 a.m. - 12:10 p.m.

O1. Wisconsin DOR Update

Speaker(s): Nate Weber
NASBA field of study: Taxes - Technical (1)

Hear about Wisconsin tax updates and get ready to prepare 2022 Wisconsin tax returns. Review updates in income and franchise tax, sales and use tax and unclaimed property. Check out a summary of public statistics, such as e-file and ID verification percentages, amount of money in bad refunds stopped and more from Wisconsin’s 2021 tax return processing season. Learn about business tax incentives, updates on Wisconsin DOR administrative and procedural initiatives affecting tax practitioners and other topics affecting tax professionals working in Wisconsin or with Wisconsin-based clients.

O2. Income Taxation of Trusts and Estates

Speaker(s): Edward Zollars
NASBA field of study: Taxes - Technical (1)

Most CPAs with a tax practice will deal with trust and estate income tax returns. The unique rules make it easy to run into issues created by this specialized tax entity. This session will highlight key issues you want to be sure not to overlook. Explore the impact of Minnesota's principal and income act on trust and estate income tax returns. Learn how to determine the type of trust (simple, complex, grantor, etc.) that applies for a tax year. Recognize the key differences between charitable contribution deduction rules for trusts or estates and individuals, as well as issues with preparing trust and estate income tax returns. Find out how you can navigate the unique challenges in this space so you can deliver for clients and reduce the risk of problems with these engagements.

O3. Changing World, Consistent Ethics

Speaker(s): Jimmy Williams
NASBA field of study: Behavioral Ethics - Non-Technical (1)

The CPA has been a constant in an ever-changing business world. Review the principles of CPA ethics and discuss strategies for maintaining the integrity of the CPA credential. You will be challenged with examples of ethical dilemmas and apply the code of conduct to resolve them. Look at the AICPA Professional Ethics Executive Committee (PEEC) to understand how ethical rules are constructed and adopted. Plus, examine actual cases of ethical violations and discuss alternate decisions that would lead to more positive outcomes.