December 2018
S M T W T F S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

Categories

Archives

2018 MNCPA Tax Conference


On November 12th and 13th, I attended the Annual MNCPA Tax Conference at the Minneapolis Convention Center. Close to 1400 CPAs and other tax professionals attend this conference making it one of the largest I the United States. I attended many great sessions to help me get ready for the upcoming tax season. The upcoming tax season should be very interesting for a couple of reasons:

Federal – The big tax law change known as the Tax Cuts and Jobs Act (TCJA) that was passed in late 2017 will impact 2018 tax returns. There will be a new Form 1040 for 2018 as well as many updated schedules to address all the changes made in the Internal Revenue Code. Tax professionals are still hoping to get additional guidance from the IRS on how to properly implement these changes. In addition, there is speculation that the 2019 filing season (2018 tax returns) will be delayed.

Minnesota – the starting point for Minnesota individual income taxes is the federal taxable income amount, which is then adjusted to arrive at Minnesota taxable income. Every year Minnesota must decide whether to conform to the federal tax law changes. However, for 2018, the tax bill was vetoed and Minnesota Revenue was forced to create a new set of schedules to handle its non-conformity to the federal tax law. This means extra work to compute the Minnesota taxable income.

I plan to have a sample 2018 tax return done in December and compare it with a 2017 tax return. Please keep an eye on my website for details.

I am bracing for another challenging tax season and will do everything I can to help my clients with all the tax law changes.

pixelstats trackingpixel

I wish you a Happy Thanksgiving!

I am very thankful for all of my blessings – family, friends, and my clients! I hope all of you have a happy and healthy Thanksgiving!

James E Moede, CPA

pixelstats trackingpixel

There are several “Life Events” that make major changes to your life. Part of these changes includes the impact on your taxes. This is part three of a three-part series of videos that will look at the tax changes caused by these life events.

Life Events: Divorce

Each person’s tax situation is unique. I recommend discussing your tax situation with a tax professional. Click this link to [Contact Me] if you need a tax professional.

pixelstats trackingpixel

There are several “Life Events” that make major changes to your life. Part of these changes includes the impact on your taxes. This is part two of a three-part series of videos that will look at the tax changes caused by these life events.

Life Events: A New Birth

Each person’s tax situation is unique. I recommend discussing your tax situation with a tax professional. Click this link to [Contact Me] if you need a tax professional.

pixelstats trackingpixel

Veterans Day

If you enjoy your freedom – take time to say “Thank You” to a veteran (or someone currently serving our country).

pixelstats trackingpixel