Hudson Chapter Season Pass - 2018/19

Everything you wanted to know about SOC, but were afraid to ask. Then get the latest cyber security trends.

Highlights

System and Organization Controls (SOC)

• Identify the key differences between the various types of SOC reports
• Assess which type of SOC report may be most appropriate in a given client situation
• Understand the implications of vendor SOC reports in the planning and performance of financial statement audits
• Understand general SOC concepts and be able to confidentially discuss them with clients and others

Cybersecurity

• State of cyber landscape 2018
• Top cyber threats and attack vectors
• How to deal with cyber risks
• Stories from the trenches

Benefits

Earn 2 CPE credits (1 AA and 1 CS)

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This meeting will cover hot topics in accounting and auditing. Gain an understanding of non-attest services and what practitioners need to do to comply with professional standards. The recently issued lease and revenue recognition standards and their impacts will also be addressed.

Highlights

Non-Attest Services

• Understand what constitutes non-attest services
• The independence considerations and requirements placed on practitioners
• Level of documentation required to comply with professional standards
  
  

Leases

• An in-depth look at the new lease standards
• Are you ready to implement the new leases standard?
  
  

Revenue Recognition

• A brief discussion of the new revenue recognition standards that will be impacting private companies next year

Benefits

Earn 4 CPE credits in AA.

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Before tax season get an update from the IRS, and information on the 199A deduction included in the Tax Cuts and Jobs Act. Then, hear about tax planning opporunities and more tax hot topics.

Highlights

7:00-7:40 AM
Registration, Breakfast & Exhibitors

7:40-7:45 AM
Welcome and Opening Remarks
Isabel Del Corral, CPA - McIntee Fusaro Del Corral, LLC
Hudson Chapter President

7:45-9:25 AM
IRS Update
Glenn Gizzi - Internal Revenue Service
One of our favorite presenters, Glenn Gizzi, will present an update from the IRS.  Hear current IRS developments and issues.  Glenn will share essential resources that will guide you through this year's busy season.

9:25-9:45 AM
Break & Exhibitors

9:45-11:25 AM
199A Deduction
Parag Patel, LL.M. - Patel Law Offices
The most complex and important provision of the Tax Cuts and Jobs Act is the Section 199A 20% deduction for pass-through entity owners and real estate investors. Tax professionals must understand how Section 199A works so their clients can take advantage of the tremendous opportunities offered by Section 199A. Through case studies, we will explore the 199A deduction limitations and how to design strategies to optimize the deduction and reduce the impact of the service business and non-service business limitations.

11:25 AM-12:25 PM
Lunch & Exhibitors

12:25-2:05 PM
Current Tax Planning Hot Topics
Ken Horowitz - Integrated Benefit Consultants
This session will cover:

• Section 199A: what we know so far
• Exit & transfer strategies for closely held entities
• Year end income tax planning: maximizing owners' benefits using qualified retirement plans
• Planning issues for divorced couples

2:05-2:20 PM
Break

2:20-4:00 PM
Tax Hot Topics
Howard Bookbinder, CPA - Howard J. Bookbinder, CPA
While you were learning Section 199A, the IRS and State of New Jersey and New York were busy.  This session will cover:

• Individual changes and danger zones; non-cash contributions
• Business depreciation provisions, NOL's, entertainment
• New York changes
• Where's my refund?
• Payroll changes
• What else is new?

Benefits

Earn 8 CPE credits in TX.

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In this meeting, hear a foreign tax compliance update, including information about various filing and reporting requirements under FIRPTA and PFIC.

Highlights

Foreign Tax Compliance Update

• Foreign Investment in Real Estate Tax Act Update (FIRPTA)
• Single Member LLC Filing Requirement (Pro-Forma 1120 and 5472)
• Passive Foreign Investment Companies  reporting (PFIC)
• Foreign Bank Account Reporting and Statement of Specified Foreign Financial Assets
• Exit Tax 
• Information Reporting and Information Gathering  (Form 1042 and W-8)
• Departing Alien (Form 1040-C)
• Totalization Agreements (Social Security)
• Filing Protective Return
• Filing of Delinquent return
• Voluntary Disclosure 

Benefits

Earn 2 CPE credits in TX.

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In this meeting, hear important New Jersey state tax updates, including information on NJ tax legislation and business taxation in light of the recent Wayfair decision.

Highlights

New Jersey Tax Update
Alan J. Preis, CPA - Alan J. Preis, CPA PC

In this meeting, Alan Preis, CPA will address state tax issues, including:

• 2018 NJ tax legislation
• NJ response to 2018 federal tax legislation
• Other recent NJ tax developments
• Wayfair implications to NJ businesses

Benefits

Earn 2 CPE credits in TX.

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Hear an update on the latest New Jersey state tax regulations just in time for tax season. Then, the Social Security system is overwhelming and there are plenty of new rules; learn about various Social Security benefits and how to create collection strategies that will help your clients maximize their lifetime income.

Highlights

2018 New Jersey Tax Updates
Christina Quinones and Tilesha McCall - NJ Division of Taxation, Taxation University

In this session, hear important updates on:

• Income Tax
• Property Tax Relief
• Business Tax
• NJ Tax Debt Assistance
• General Resources for You

Savvy Social Security Planning for CPAs
Eleanor Galt-Lin, CFP - Morgan Stanley

In this session, the speaker will address baby boomers' questions:

• Will Social Security be there for me?
• How much can I expect to receive?
• When should I apply for Social Security?
• How can I maximize my benefits?
• Will Social Security be enough to live on in retirement?

Benefits

Earn 4 CPE credits in TX.

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Hear a discussion on the AICPA Risk Assessment Toolkit and why non-attest services lead to failure on peer review. Then, blockchain technology is poised to create major waves in the accounting profession. In this session, learn how this revolutionary technology works and how it will impact your practice.

Highlights

Risk Assessment and Non-Attest Services  - The Causes for Many a Failure on Your Peer Review
Frank Boutillette, CPA, CGMA, ABV - Partner, WithumSmith+Brown

This session will focus on the proper way to assess risk of material misstatement including linking the risks to audit procedures on your audits. We will include a discussion of the AICPA Risk Assessment Toolkit. As a bonus, we will explore the area of non-attest services and what the true meaning of “Skills, Knowledge and/or Experience” means and why so many firms are not documenting this area correctly.

Cryptocurrencies, Blockchain and Distributed Ledger Technology
Dr. Sean Stein Smith, CPA, CFE, CGMA, CMA - Assistant Professor, Lehman College

In this meeting, we will discuss:

• A breakdown of what exactly blockchain is, and how it's different from cryptocurrencies 
• How blockchain will be driving change and disruption in the accounting profession 
• A market update and current news section to keep participants up to date on changes in the field

Benefits

Earn 2 CPE credits in CS and 2 CPE credits in AA.

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Hear an overview to clear up practitioner confusion on navigating the current preparation, compilation and review authoritative literature.

Highlights

Many practitioners express difficulty trying to find exactly what the “rules” are for preparation, compilation and review engagements. The pre-clarified and clarified standards seem to have added to the confusion. This session will clarify the confusion, show practitioners exactly where to go to find the requirements and guidance for such engagements and will summarize the new requirements in the clarified standards. 

Topics include: 

• The pre-clarity preparation, compilation, and review standards (SSARS 1 to 20)
• Clarity SSARS 21 General Principles for SSARS Usage
• Clarity SSARS 22 Compilation of Pro Forma Financial Information
• Clarity SSARS 23 Omnibus SSARS – 2016
• Clarity SSARS 24 Omnibus SSARS – 2018

Benefits

Earn 4 CPE credits in AA.

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