S Corp. Bank Tax Law:
Addressing Tax, Accounting & Examination Issues
TELEPHONE — WEBCAST — AUDIO/VISUAL CD ROM
8:00 am – 9:30 am Pacific
9:00 am – 10:30 am Mountain
10:00 am – 11:30 am Central
11:00 am – 12:30 pm Eastern
Recently, there have been many changes to the tax law, which may impact your Subchapter S bank, including some that may provide significant benefit to your S corporation shareholders. This webcast will clarify and identify some of the most beneficial changes. It will also explore other tax accounting methods to help ensure your S corp. bank is doing all it can to meet its desired tax objectives.
There has also been an increase in IRS examinations of Subchapter S corporations. Some of the areas on which IRS examiners are focusing will be addressed. In addition, tax accounting issues for start up banks will be touched upon, as well as merger and acquisition strategies.
HIGHLIGHTS
· Accounting for deferred loan fees, non-accrual interest income, & deferring advanced payments
· Accounting for intangibles under Section 263
· Change in accounting method from accrual to cash
· Accounting for loans and loan losses
· New tax developments
o Emergency Economic Stabilization Act
o TEFRA Disallowance
o Automatic changes in accounting methods
o Section 179 adjustments
o Worker, Retiree, and Employer Recovery Act of 2008
· Internal Revenue Service examination issues
· Tax issues for start up banks
· Merger and acquisition strategies
WHY SHOULD YOU PARTICIPATE?
This session is a cost-effective way to learn about S corporation bank-specific tax accounting methods, how to minimize tax consequences, and achieve your bank’s goals. You may train as many individuals as you like for one set price. There will be no travel costs, no time lost from work, and no one will be required to leave the institution.
WHO SHOULD ATTEND?
This informative session will benefit board members, chief executive officers, chief financial officers, and other accounting officers.
Please note: Your registration fee allows you to have one telephone connection. However, as many people as you like may listen from your office speaker phone. If you register for the webcast, your registration fee also includes one internet connection from a single computer terminal.
ABOUT THE PRESENTER: Patrick S. Donehue, CPA
Patrick is a tax partner in the Oklahoma City office of BKD, LLP, a regional CPA and advisory firm. With over 25 years of experience in tax and business consulting for medium-sized, closely held businesses, Patrick provides specialized tax planning and compliance services along with assistance in mergers and acquisition areas for financial institutions. He also provides tax planning, business succession and exit strategies, state and local tax incentives, and estate planning for financial institutions and their shareholders.
Patrick graduated from Oklahoma State University, Stillwater, in 1973 with a Bachelor’s in civil engineering. In 1976 he received a Master’s in accounting from Oklahoma State University, Oklahoma City. Patrick is a member of the American Institute of CPAs and the Oklahoma Society of CPAs.
This training method allows unlimited listeners on your office speaker phone. By choosing the webcast option, participants will also be able to view online visuals as the presentation is delivered. Registrants receive a toll-free number and pass code that will allow entrance to the seminar. The session will be one hour and fifteen minutes in length with an additional fifteen minutes for questions and answers. Seminar materials will be sent prior to the broadcast along with hook up instructions. Your pin number, hookup instructions, and handouts will be emailed to you. You will need the most current version of Adobe Acrobat Reader available free at www.adobe.com.
As an added benefit, you may purchase a *CD Rom/handout set of this presentation and have an “off-the-shelf” training program for those that were not able to attend the live seminar and for future training purposes. AFFORDABLE TRAINING, WHEN AND WHERE YOU CHOOSE.
*CD Rom for PC use only