Agenda
Registration: 8:00 – 8:30 am
Morning Session: 8:30 am – 12:00 pm
Lunch (On your own): 12:00 – 1:00 pm
Afternoon Session: 1:00 – 4:40 pm
Kentucky Income Tax Update
M. Mattox
Recent income tax legislation
Review of recent income tax cases
Updated administrative guidance
Important Department of Revenue determinations
Limited liability entity tax (LLET)
Kentucky Inheritance Tax
M. Mattox
Review of Kentucky inheritance tax rules
Update on taxation of bequests of tax
Planning for the inheritance tax
Kentucky Tax Litigation Update
N. Rodes IV
Tax litigation in Kentucky
Litigation in Kentucky courts
Dispute resolution at the Board of Tax Appeals
Kentucky Property Taxes
M. Grim
Real property tax issues and updates
Personal property assessments and reporting issues
Property tax assessment, appeal and audit update
Sales and Use Tax Update
M. Grim
Sales tax imposition
Use tax imposition
Industry-specific issues:
Manufacturing
Retail
Transportation
Healthcare
Hospitality
Services
Not-for-profits
Recent developments
Cases and administrative determinations
Economic Development, Business Expansion and Job Creation – Kentucky Tax Incentives
S. Butler
Overview of Kentucky tax incentive programs
Tax increment financing (TIF)
Workforce development incentive programs
Close Encounters for Tax Preparation Professionals
D. Trevey
Growing liability for tax preparation professionals
Engagement creep – giving general business advice
Responsibility to ensure client representations are correct
Who is the “client” and what do they need to be informed of?
Strategies to stem liability
Engagement letters with clear scope of services provided
Do not deviate from clearly defined role (stay in your lane)
Explain and document what other services are available
Working notes/confirmation written communications
When to involve other professionals
Subpoenas for tax records
Requests for interviews by lawyers
Depositions
The unwilling expert, boundary of your ethical duty to your client
Credits
Accountants
8.0 CPE Hours
Attorneys
6.75 Kentucky CLE Hours
6.75 Ohio CLE Hours
(1.25 Attorney Conduct Hours)
6.70 Indiana CLE Hours
Certified Financial Planners
8.0 CE Hours
Continuing Education Credit Information
The Kentucky State Board of Accountancy accepts sponsors listed on the NASBA National Registry of CPE Sponsors. This group live course offers up to 8.0 intermediate-level CPE credits in the field of taxes. A basic knowledge of trust and taxes is recommended, and no advance preparation is required.
HalfMoon Education Inc. is registered with the NationalAssociation of State Boards of Accountancy (NASBA) as asponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted tothe National Registry of CPE Sponsors through its website: www.NASBARegistry.org. Complaints can also be directed to Doug Chapman at doug@halfmoonseminars.org. SponsorNo. 103015.
This seminar is approved for 6.75 Kentucky CLE hours for attorneys and 6.75 Ohio CLE hours, including 1.25 Attorney Conduct hours. It is approved for 6.7 Indiana CLE hours for attorneys.
HalfMoon Education Inc. is a CFP Board-Registered continuing education Sponsor. The Certified Financial Planner Board of Standards, Inc. has granted 8.0 hours of continuing education credit for the completion of this seminar.
Attendance will be monitored and reported as required. Attendance certificates will be available after the seminar for most individuals who complete the entire event. Attendance certificates not available at the seminar will be mailed to participants within fifteen business days.
Speakers
Sarah Butler
Kentucky Cabinet for Economic DevelopmentSarah C. Butler is director of the Incentives Assistance Division of the Kentucky Cabinet for Economic Development. She has 27 years of experience in banking and finance supervision and regulation. Prior to beginning her position in May, 2017, Ms. Butler was the acting deputy commissioner for the Minnesota Department of Commerce and the Kentucky Department of Financial Institutions. Nationally, she was secretary of the Money Transmitter Regulatory Association (MTRA) Board of Directors. During the financial crisis, she was a commissioned safety & soundness risk management examiner for the Federal Deposit Insurance Corporation (FDIC). Ms. Butler earned an MBA degree from Palm Beach Atlantic University. She served as a member of the Mortgage Testing and Education Board and on the Conference of State Bank Supervisors’ Payday Lending Advisory Group.
Michael Grim
Mountjoy Chilton Medley LLPMichael A. Grim is an attorney and a tax principal in the Louisville office of Mountjoy Chilton Medley LLP, where he practices in the Tax Group. His practice focuses on controversy, audit matters, and planning related to federal, state and local tax matters. Mr. Grim has previously litigated matters before various state and local tax boards, state and federal courts, as well as U.S. Tax Court. He has counseled clients on various issues involving federal, state, and local income taxes, employment taxes, gross receipts taxes, sales/use taxes, real and tangible property taxes, local license/business taxes, and various excise taxes. Prior to joining MCM, he was with the law firm of Bingham Greenebaum Doll LLP for 10 years, were he was a partner in the Tax & Finance Practice Group, and the chair of the firm’s State & Local Tax practice. Mr. Grim also worked for United Parcel Service for nearly 19 years. His last two assignments were UPS airline tax director and UPS airline contracts manager.
Melissa Mattox
Kinkead & Stilz, PLLCMelissa C. Mattox is a certified public accountant (CPA) and tax manager with Kinkead & Stilz, PLLC in Lexington. Ms. Mattox focuses on estate, gift, and income tax return preparation and planning, working with both individuals and their closely-held businesses. She is a member of both the American Institute of Certified Public Accountants and the Kentucky Society of CPAs (KyCPA), and she was awarded Outstanding Committee Chair in 2013 for her volunteer work with the KyCPA. Ms. Mattox began her career at a regional CPA firm where she also focused on nonprofits and authored articles on nonprofit topics for the KyCPA and the Kentucky Nonprofit Network. She graduated summa cum laude from Transylvania University in 2007, with majors in both Accounting and Mathematics.
Nelson Rodes
Frost Brown Todd LLCNelson D. Rodes IV is an attorney and associate in the Louisville office of Frost Brown Todd LLC. Mr. Rodes’ practice focuses on civil and criminal tax litigation matters as well as the tax implications of general business transactions. He has counseled clients on various issues involving federal and state income taxes, employment taxes, sales and use tax, real property taxes, and tax incentives. Prior to joining Frost Brown Todd, Mr. Rodes was with Ernst & Young where he was a senior in the firm’s National Tax Department, focusing primarily in the area of state and local transactional tax, assisting clients with the tax consequences of mergers and acquisitions and post-transactional planning. He also served as a summer law clerk for the Hon. Joseph R. Goeke of the United States Tax Court prior to earning his LL.M. degree in Taxation. Mr. Rodes is a graduate of Centre College and received his J.D. degree from the University of Kentucky and LL.M. in Taxation from Georgetown University.
David Trevey
Kinkead & Stilz, PLLCAttorney with Kinkead & Stilz, PLLCMr. Trevey graduated, cum laude, from the University ofKentucky College of Business with a BBA degree in Finance andManagement in 2000, and he then received his J.D. degree from the University of Kentucky in 2004, the same year that he was admitted to practice in Kentucky. He is also admitted to practicein the Eastern and Western Districts of Kentucky, the Sixth CircuitCourt of Appeal and the Ninth Circuit Court of Appeals. While attending the University of Kentucky, Mr. Trevey was a member of the Journal of Natural Resources and Environmental Law, and the Trial Advocacy Board, where he was named best advocateduring the 2003 Kentucky Mock Trial Tournament. He is amember of the Fayette County Bar Association, the Kentucky Bar Association, the Defense Research Institute, and the Kentucky Defense Counsel. Since graduation, Mr. Trevey has focused his practice almost entirely on the defense of professionals.He has defended physicians, nurses, dentists, architects, engineers, lawyers, accountants, land surveyors and real estate professionals. He also has experience in large-scale cases such as class actions, increasingly popular multi-district litigation (MDL) cases such as Vioxx, Celebrex and Phen-Fen, as well as large-scale disaster consolidation cases such as the Comair Flight 5191litigation.