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New and Noteworthy

Chapter At Work

Members Attend National Conference

Thirty (30) members of the Virginia Chapter/NATP attended the National NATP conference in Phoenix, Arizona on July 8 thru July 11, 2013. The chapter held a breakfast social on Thursday, July 11, 2013 in the JW Marriott Desert Inn, Sage Restaurant. Thank you to all of those who attended. It was a very enjoyable time.

Winner at National Conference

Congratulations to the Virginia Chapter!!! We won “Chapter of the Year--Communication” category at the National Conference in Phoenix, Arizona.

Also, our own Melinda Wiedenhoeft won “honorable mention” in the Chapter Person of the Year category. Congratulations Melinda!!

Book your room at the Fredericksburg Hospitality House

Remember to note that you are with VA/NATP when you book your room for the annual conference. Room reservations can be made online at www.fredericksburghospitalityhouse.com

or telephone them at (540) 786 8321

Conference & Seminar Policies

Refund Policy-To cancel a reservation, you must notify VA/NATP in advance. A $30 administrative fee will be withheld from your refund. No refund will be given if cancellation is on the conference date unless there are “special-extreme” circumstances. These circumstances must be outlined and presented to the Board for review and decision. The Executive Committee will decide whether a refund is in order.

Prerequisites for Classes-Basic-No prerequisite required. Entry level or overview class.Intermediate-Prior basic knowledge required with a prerequisite of prior educational class in the same field and/or prior knowledge of subject. Advanced-Must have completed both an entry level and intermediate level class within the same subject topic, and have prior knowledge of topic.

Class Cancellation-Should one class during an educational program be cancelled, another will be substituted in its place if there is sufficient to to arrange such. if it is a last minute cancellation, then the individuals will have the option to take a different class being taught in the same time period.If a 2-day conference has to be cancelled for unforeseen circumstances, it will be rescheduled at a later date/time.

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Patricia Faulk, Presidentpfaulkea@gmail.com804 217 9177

April Bittle-Kurzke, Secretarya.bittle@yahoo.com908 295 9730

Jeani Webb, Treasurerjeaniwebb2@aol.com703 407 5134

Melvin Denwiddietaxpro@dvataxes.com703 360 0423

Megan Cohick-Eschenmannmegancohick@hotmail.com540 951 1104

April Whitmerawhitmer@shentel.net540 333 0739

Melinda Wiedenhoeftmw@jhtax.hrcoxmail.com757 473 9366

Ed Levineedwardlevine@cpas4u.net804 285 3409

Keri Staubskerisledzik@aol.com703 471 7584

Teresa Steinigertstei@comcast.net540 786 4090

Heidi Jo Steiniger, Executive Directorwintongirl@me.com540 785 7763 (Main office)

MEMBER NEWSLETTER SUMMER 2013

17CPE 2DAYS

LIBERO PURUS SODALES MAURIS, EU VEHICULA LECTUS VELIT NEC VELIT: www.apple.com/iwork

EthicsEthics, Ethics and More Ethics-2 cpe

All of us are required to have 2 hours of Ethics each year per Circular 230, so why not have fun and learn at the same time. Darrel Shinn will attempt to keep you wide awake with some new approaches to this dry subject. Bring your best example of how your clients test your Ethics each year.

UpdatesUpdates from the Virginia Department of Taxation-2 cpe

Clare Dunn This class will cover the latest

updates from the Virginia Department of Taxation based on IRS code and procedural changes. Also included will be updates on any changes specific to Virginia Department of Taxation returns.

TaxationForeign Source Income-1 cpe

H Ley Mills will cover a discussion of foreign source income, what the taxpayer has to report, what forms to use, and who is required to file the foreign source income. Also, included in this class will be what types of foreign income need to be reported, along with what would happen should a taxpayer not report the income.

Social Security-2 cpeDelmar GilletteSocial Security started in August

1935 with the signature of President Franklin Roosevelt. Now that Social Security planning is taking center stage among baby boomers, tax professionals are undoubtedly getting questions from clients about when to claim benefits, how the rules work, and how Social Security fits with the rest of their retirement income plan. You can help them broaden their understanding of Social Security by participating in this workshop “Savvy Social Security for Boomers” and being

on call to serve as an ongoing resource whenever they have questions. Then watch the referrals flow in.

Agenda: The importance of Social Security; Social Security financing-what’s in the trust fund, how long is it expected to last?; Understanding the rules for spousal benefits, divorced-spouse benefits and survivor benefits; How to maximize Social Security by coordinating spousal and survivor benefits with a client’s own retirement benefit; Social Security scenario planning for couples-when should each spouse claim benefits?; Strategies for widows and widowers; Social Security and taxes.

Navigating the Passive Activity Limitations-2 cpe

Professor John O EverettThe wording of Code Sec. 469

regarding passive activity losses in deceptively simple; passive losses can only offset passive incomes. This wording masks a great deal of complexity in applying these rules. This session will

2013 CLASS LIST

UPDATES FROM THE IRS-2 CPE

H Ley Mills

This class will focus on the latest information from the IRS. Included will be a focus on field audits. There will be an explanation on the procedures for selecting a tax return for audit. There will also be a discussion of the SB/SE Virginia Fast Track Settlement Program, along with procedures for handling identity theft in Virginia.

MEMBER NEWSLETTER SUMMER 2013

LIBERO PURUS SODALES MAURIS, EU VEHICULA LECTUS VELIT NEC VELIT: www.apple.com/iwork

review all aspects of the Sec. 469 passive activity limitations, including a detailed examination of the definitions of an activity, material participation, active participation and other important terms. Allocation of suspended losses and the special real estate exceptions are covered in detail, with planning ideas sprinkled throughout the coverage. A detailed case study illustrating the reporting procedures for such losses (along with filled-in forms) is included.

Offer in Compromise-2 cpe

Frank J. Rooney, AttorneyThis class will explain the new offer

rules as they relate to doubt as to liability and doubt as to collectability offers. On doubt as to collectability offers, the discussion includes: 1) information needed on how to present a processable offer, 2) differences between a short term periodic payment offer and a deferred periodic payment offer. The class will detail how to properly fill out a 433-a or 433-b and the future tax compliance requirements of an accepted offer.

Alternative Minimum Tax-2 cpe

Vernon GraberIn this course will look at the basic

structure and underlying concepts of the AMT, as well as the levels of income and adjustments that generally result in AMT. We will also look at the AMT preferences and adjustment for individual taxpayers with the adjustment for itemized deductions discussed in great detail.

Earned Income Tax Credit Workshop-2 cpe

Jennifer DavisPlease join us for this 100 minute

comprehensive presentation of the Federal Earned Income Tax Credit. We will be reviewing a brief history of the Earned Income Credit, prior year filing statistics, taxpayer eligibility, calculation

of credit, fraud concerns, special situations, how federally declared disaster areas can affect EITC and preparer due diligence.

We will be reviewing up to 6 real-life case studies for both preparer due diligence and EITC taxpayer qualification.

Objectives: 1. Know the history and purpose of EITC, 2. Understand the affect EITC has on our economy and who is most affected, 3. Understand taxpayer eligibility and how to calculate the credit as well as defining “dependents,” 4. Understand special situations such as self-employed, military, disaster area victims, etc, 5. Understand and be able to utilize preparer due diligence concerns and EITC fraud.

Employee Benefits-2 cpe

Megan Cohick-EschenmannMelinda WiedenhoeftThis class will be covering the

question: Is it taxable? and, if so, how is it reported, who reports it-employer or employee? We will cover the gamut, everything from 401(k), cafeteria plans, health insurance, life insurance, personal use of a company car, etc.

Savvy Medicare Planning for Boomers-2 cpe

Delmar GilletteLike Social Security, Medicare is far

more complicated than most people realize. Yet new retirees are largely unprepared to deal with this mandatory health care program, especially if they’ve been automatically covered by health insurance at work.

The biggest shocker is that Medicare is not automatic; you have to sign up for it within a specified period of time.

And it’s not free; there are monthly premiums, deductibles and copayments. And it does not cover everything. Supplemental insurance is essential, but choosing the right policy is no easy task.

And even then, long-term care expenses are not covered.

Regardless of how healthy your clients are now, they must prepare for serious medical costs in retirement. This is one of the most critical aspects of retirement planning, because all it takes is one unexpected, large medical expense to decimate a client’s assets and derail a financial plan.

(Interestingly, the healthiest people with the longest life expectancies end up spending the most on health care and are the ones most likely to need costly long-term care.)

Here are some results from a recent survey of pre-retirees: More than half of pre-retirees find Medicare confusing or completely baffling; Two in three cant identify what part of Medicare covers hospital care; Three in four don’t know what part covers doctor’s visits; Less than 1 in 10 understand the benefits of Part C/Medicare Advantage

Any advisor working the retirement income planning niche needs to understand how Medicare works, what the program’s limitations are and how your clients can fill in the gaps to preserve their financial security.

MEMBER NEWSLETTER SUMMER 2013

' Record Retention Policy-Record Retention-the chapter will retain all records for a period of 5 years. This will include: course outline, list of course participants, dates and locations of presentations, names of instructors/discussion leaders, copies of course evaluations, amount of recommended CPE credit. All records of the organization are stored at the organization’s address.' Course Update Policy-he following measures are taken by the Virginia Chapter/NATP to bring course content up-to-date on a regular basis and ensure that it remains technically accurate:All speakers have designations which require them to pursue continuing education to remain in good standing in their fields and hold their present designation. They avail themselves of the latest law changes, etc. in their field of study. All speakers are required to submit course outline materials prior to the speaking engagement. The materials are reviewed by the Executive Director. The information is checked to make sure that any law changes, etc. have been incorporated into the presentation materials. The surveys completed by the conference attendees are reviewed by the Executive Committee after each conference.' Complaint Resolution-Any written complaints will be put on the agenda of the next Board of Director’s meeting. The complainant is advised that he has the right to come and address the Board with regard to his complaint. When a decision is reached, the complainant will be notified, in writing, of the outcome. Any changes or directives with regard to the outcome will be implemented. Please address complaints to: Heidi Jo Steiniger, Executive DirectorVirginia Chapter NATP 12730 Mill Road Fredericksburg, VA 22407 (540) 785-7763 wintongirl@me.com'

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VA/NATP12730 Mill RoadFredericksburg, VA 22407

Trenz Pruca4321 First StreetAnytown, State ZIP

Register online at virginianatp.comFees for Annual Conference

Before 9/7/13

**Early Bird**

•One Day•Member $255

•Non-Member $325•Two Day

•Member $300

•Non-Member $375

After 9/7/13•One Day

•Member $305•Non-Member $360

•Two Day•Member $355•Non-Member $405

After 10/31/13•One Day

•Member $350•Non-Member $380

•Two Day•Member $380•Non-Member $430

CALENDAR:JULYLaunch of new website: www.virginianatp.com

OCTOBERDeadline for Special Room Rate--remember to let the agent know you are with NATP

NOVEMBER7th & 8th Annual Conference

Hospitality House, Fredericksburg, VA (details inside)

MEMBER NEWSLETTER SUMMER 2013

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U.S. Postage PaidFredericksburg, Virginia

Permit No. 159