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  • August 21
  • 1:00 - 2:30 pm EST

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Tax Complexities of Clients Residing in Multiple States

August 21

Be prepared for tax implications and audit issues that may arise for your clients maintaining residency in multiple states.

Just about every day I talk to an accountant in Texas about her client who has an apartment in New York, or a financial planner in Connecticut about his client that is working on a project in Florida, or the owner of a closely held business who is thinking about retirement, finally ready to split for warmer climes. Clients are on the go more than ever, and your knowledge of relevant state and local income tax issues and planning opportunities should keep up. This topic will help you understand and plan for the income tax implications of taxpayers residing or maintaining a presence in multiple states, and it will prepare you to handle audit issues before they arise. This topic will help you keep up with your clients' state and local income tax needs, and add value as they move around the country, or the world.

Learning Objectives

- You will be able to explain the steps necessary for a taxpayer to effectively change residency from one state to another.

- You will be able to identify the types of records necessary to defend a residency or nonresident income allocation audit.

- You will be able to describe the common residency audit process and trouble areas to your clients.

- You will be able to define ‘tax resident' in multiple jurisdictions.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Defining Tax Residence Across the U.S. and Local Jurisdictions
  • Common Definitions -- Domicile vs. Statutory Residency vs. Temporary and Transitory
  • Successfully Changing Residency From State to State
  • Tests Applied to Determine Residency and Best Practices for Record Keeping
Perils of Dual Residency Audit Issues
  • Scope of Residency Audits, Hot Topics
  • Income Tax Audit Techniques and Statutes of Limitation
  • Implications on Federal Taxes and State Re-Audits
Flipside of Residency Nonresident Income Allocation
  • Taxpayers "Resident" in a Single State, With Income Allocated Elsewhere
  • Allocating Deferred Compensation and Employment Income Audit Issues
  • Allocation Issues Unique to Athletes and Performers
Taking Advantage of Resident Tax Credits
  • Varying Treatment of Resident Credits at State and Local Levels
  • Reciprocal Agreements
  • Amending Returns to Revise Resident Credits and Audit Issues
Miscellaneous Topics for Taxpayers With a Presence in Multiple Jurisdictions
  • Foreign Residency and Foreign Work Assignments
  • Allocating Deferred Compensation
  • Residency Checklist Items/Social Media and Intent/Case Studies
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • CFP 1.5
     
  • The Certified Financial Planner Board of Standards, Inc. has granted 1.5 hours of continuing education credit. Level of Knowledge: Intermediate.
     
  • AK CLE 1.5
     
  • Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • GA CLE 1.5
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IA CLE 1.5
     
  • Tax Complexities of Clients Residing in Multiple States is accredited under the regulations of the Iowa Supreme Court Commission on Continuing Legal Education. It is planned that this program will provide up to a maximum of 1.5 hours of credit toward the mandatory continuing legal education requirements under the Iowa rule.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MN CLE 1.5
     
  • This program has been approved by the Minnesota Board of Continuing Legal Education for 1.5 hours of credit.
     
  • MO CLE 1.8
     
  • This program has been approved by the Missouri Bar for 1.8 hours of CLE.
     
  • MS CLE 1.5
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.5 credit hours.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • ND CLE 1.5
     
  • This program has been reviewed by the North Dakota Commission for Continuing Legal Education and approved for 1.5 hours of CLE credit.
     
  • NE CLE 1.5
     
  • Lorman Business Center, Inc. is an accredited CLE sponsor in the State of Nebraska and certifies that this activity has been approved for 1.5 hours of CLE credit in the State of Nebraska.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NM CLE 1.5
     
  • This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.5 hours of credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.5
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.5 hours of credit.
     
  • UT CLE 1.5
     
  • This program has been approved by the Utah State Board of Continuing Legal Education for 1.5 CLE hours.
     
  • VA CLE 1.5
     
  • This program has been approved by the Virginia Mandatory Continuing Legal Education Board for 1.5 CLE credit hours.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • CPE 1.8 including Taxes 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor 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 to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Taxation for 1.5 hours.
     

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for estate planners, accountants, attorneys, presidents, vice presidents, CPAs, controllers, business owners and managers, tax managers, tax preparers, and financial planners.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Daniel P. Kelly, Esq.

Daniel P. Kelly, Esq.

Hodgson Russ LLP

  • Attorney in the Palm Beach, FL & Buffalo/New York, NY offices of Hodgson Russ LLP
  • Practice emphasizes all aspects of New York State, New York City, Florida, and multistate tax planning, tax controversy, and abandoned property obligations and audits
  • Conducts regular seminars and workshops on numerous aspects of state and local tax law, including presentations on multistate sales and use tax issues in the hotel industry, multistate tax residency and income allocation matters, and multistate unclaimed property matters in the last twelve months
  • Author of several publications related to New York and multistate income, franchise, and sales tax matters
  • J.D. degree, magna cum laude, SUNY Buffalo Law School; B.A. degree, magna cum laude, Syracuse University; admitted to practice in New York & Florida
  • Can be contacted at dpkelly@hodgsonruss.com or (716) 848-1561
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Product ID: 403917
Published 2016, 2018
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