Kennedy Sutherland LLP to Present at San Antonio CPA Society

Kennedy Sutherland LLP attorneys will present at the San Antonio CPA Society Luncheon on Wednesday, December 3rd at 1:30 pm at 901 NE Loop 410,  Ste 420, San Antonio, TX. At the luncheon Patrick J. Kennedy, Jr., William D. Sutherland, VI, and Patrick J. Kennedy, III, from the firm, will join James W. Carter of Drought Dought & Bobbit LLP to present on new market tax , federal tax, non profit tax and historic tax credits.

To register for this class, please contact the San Antonio CPA Society directly at, (210)828-2722 or toll free (888)828-8680.  


Part 1 – Disclosing Taxpayer Information: A Guide for the Wary Accountant

Includes a discussion of the regulations related to client confidentiality, proper disclosure of taxpayer information and practical methods of responding to legal requests for taxpayer information correctly, efficiently and cost-effectively

Part 2 – Structuring and Organizational Issues for Nonprofits

Includes a discussion of structuring and organizational issues faced by nonprofit entities as a result of partnerships, mergers or joint ventures with other nonprofit and for-profit entities, or when utilizing affiliates to obtain government program funding. Discussion of the potential impacts these decisions can have on nonprofit status is also included.

Part 3 – The Importance of Subchapter S Election Audits: Shareholder Succession, Inadvertent Termination and Traps for the Unwary

Includes a discussion of the importance of annual reviews of Subchapter S elections, including common issues that may lead to an inadvertent termination and curative measures upon discovery of an issue.

Part 4 – Financing Opportunities with Federal and State Tax Credits: A Brief Survey of the New Markets Tax Credit and the Federal and Texas Historic Tax Credits

Includes a discussion of various federal and state tax credits including how businesses can leverage both the New Markets Tax Credit program and the federal and recently enacted Texas Historic Tax Credit.

Learning objective(s):

Part 1 – Audience members should be able to identify and correctly respond to requests for confidential taxpayer information. In addition, cost effective measures for response will also be discussed.

Part 2 – Attendees should have a basic understanding of issues presented by partnerships, mergers and joint ventures between nonprofit entities or with for-profit entities. Attendees will also be presented with an overview of issues faced by nonprofits seeking government program funding through affiliate structures. Big picture organizational issues as well as information reporting will be discussed.

Part 3 – Attendees should be aware of common issues that may lead to inadvertent terminations and how to avoid such issues through close monitoring of S corporation shareholder groups and stock transfers.

Part 4 – Attendees should have a basic understanding of the various opportunities to use tax credits as a financing vehicle for projects and should be able to identify potential opportunities where New Markets Tax Credits or Historic Tax Credits may benefit their clients.

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