Dinner Meeting: Thursday, Nov. 3, 2016
600 East Esplanade Drive
4:30 PM-Board Meeting
Program: "3 C's of NOL's: Calculation, Carryback & Carryover"
Description: A Code and Regulations to Forms approach to calculating the NOL, the carryback and carryover absorption in intervening years. Attendees will learn how to properly classify business and nonbusiness income and expenses, the modifications required to determine a current year NOL, and how to calculate modified taxable income for carryback absorption. Special situations for joint and separate NOLs will be demystified. Extensive examples will be used to demonstrate how the calculations are shown on tax forms. Attendees will receive a guide to preparing refund requests from an NOL carryback so that it is accepted by the IRS – the first time.
Learning Objectives: After completing this course the students will be able to:
1. Properly compute a current year net operating loss
2. Properly determine the carryback period and carryover periods
3. Properly compute the absorption of a net operating loss in carryback years and in intervening years
4. Determine issues created by separate and joint net operating losses
5. Identify and avoid carryback claim issues
Presenter: Mark F. Seid, EA, CPA, USTCP. Mr. Seid is an Enrolled Agent and a Certified Public Accountant and is admitted to practice before the U.S. Tax Court. Mr. Seid began his career working for the IRS as an internal revenue agent from 1987 to 1996. He is a state director for the California Society of Enrolled Agents and has chaired the Finance & Budget Committee. Mr. Seid manages an active tax preparation and representation practice in Paso Robles, California. He frequently presents continuing education to EAs and CPAs throughout the state of California on current tax topics and representation before the Internal Revenue Service.
CPE Hours: 2 Hours-Federal Tax Topics
Meeting Cost: Pre-registered $35 Members/$40 Non-Members – $5 more at the door.
On-Line Registration: Click-Here
RSVP: Linda Wall EA at 805-340-8822; Fax-805-667-8288, or email at email@example.com