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Saturday, November 18, 2017 LiveHudson Chapter, Bergen Chapter

Semiannual Full Day Seminar (E1711839)

7:45 AM - 4:00 PM EDT

Registration: 7:00 AM EDT

St. Peter's University

47 Glenwood Avenue
Jersey City , NJ 07306

4 CPE Credits in TX
4 CPE Credits in AA
Food/Toy Drive

OVERVIEW

Before tax season, get an update on how to prepare for peer review and hot tax topics. Then, hear developments on revenue recognition and lease accounting, as well as foreign tax issues.

BENEFITS

Earn 4 CPE credits in AA and 4 CPE credits in TX.

HIGHLIGHTS

7:00-7:40 AM
Registration, Breakfast & Exhibitors

7:40-7:45 AM
Welcome and Opening Remarks
Salvatore M. Grasso, CPA
Hudson Chapter President

7:45-9:25 AM
How to Prepare for Peer Review
Frank R. Boutillette, CPA
This session will help prepare you for your upcoming peer review. We will review changes that have occurred in the past year; demonstrate how the peer review process works and what you should expect during the peer review. Learn how to select a peer reviewer; how to navigate PRIMA; and common findings found on peer reviews.

9:25-9:45 AM
Break & Exhibitors

9:45-11:25 AM
Tax Hot Topics
Howard J. Bookbinder, CPA
Hear a review of Circular 230, partnership changes, e-filing credentials, and uncover what's new at NJ Division of Taxation and the IRS.

11:25 AM-12:25 PM
Lunch & Exhibitors

12:25-2:05 PM
Accounting and Auditing Update
David R. Dacey, CPA
With the effective date fast approaching for new requirements for revenue recognition and lease accounting, this session will focus on these requirements, along with other accounting and auditing issues affecting the profession.

2:05-2:20 PM
Break

2:20-4:00 PM
Deciphering a New Foreign Language: FATCA, IGA, PFIC, FBAR, OVDP, CFC
Parag Patel, Esq.
With the IRS targeting taxpayers with unreported foreign assets, tax professionals must identify the pitfalls of the new world of global financial transparency and learn the requirements of foreign asset reporting. We will learn of the detailed rules of foreign asset disclosure: who needs to file and accounts that must be reported, and the potential liability of the taxpayer and tax preparer. We will identify best practices for compliance and discuss the benefits and pitfalls of the IRS’ voluntary disclosure programs for non compliant taxpayers. Experienced tax attorney Parag Patel has handled over two hundred disclosures for clients.

COURSE LEVEL

Update

PREREQUISITES

None

ADVANCE PREPARATION

None

ADDITIONAL NOTES

Room location: Dinneen Hall, McIntyre A&B

PARKING: RLC Parking lot (located next to the Recreational Life Center on Montgomery Street between Kennedy Blvd. and West side Avenue) and lot 4 for over flow (located on West Side Avenue between Montgomery and Glenwood Avenue) for a map and directions click here.

Early birds save $50 - late fee applied after 11/16. Season Pass holders must register for each event.

For handouts, please visit your My Events page. Handouts are added as received, remember to check back for updates.

Celebrate the Gift of Giving
The Hudson Chapter is sponsoring a toy/food drive at this event. Your donations of unwrapped toys for children from infancy to age 15 or non-perishable food items are greatly appreciated. The Kiwanis Club of Secaucus will pick up all contributions and deliver them to families in need.

INSTRUCTORS

Howard Bookbinder

Howard J. Bookbinder, CPA

Owner

Howard J. Bookbinder, CPA

Howard J. Bookbinder, CPA, practices in Fair Lawn, New Jersey, and is a former instructor of accounting and taxation at Rutgers University. Additionally, he frequently lectures on federal tax updates, payroll tax issues, ethics and Circular 230. Mr. Bookbinder has addressed many professional, civic and community groups in New Jersey, Ohio, New York, Alabama and Georgia, including the American Society of Women Accountants, Mended Hearts, Bergen County Bar Association, Rotary Clubs, Lions Clubs, AARP, The Telephone Pioneers and NCCPAP. He has also lectured to firms on an in-house basis in the area of professional ethics and taxation. Mr. Bookbinder is a frequent lecturer at many tax seminars sponsored by the New Jersey Society of CPAs, the AICPA, Kean University, Rowan University and the Internal Revenue Service. He served as chairman of the Cooperation with the Internal Revenue Service for four years and is a current member of the New Jersey State Tax Committee. He has been involved with the Internal Revenue Service symposiums for IRS employees and tax practitioners for the past several years. He is a past president of the Bergen Chapter of the New Jersey Society of CPAs and a past trustee of the New Jersey Society of CPAs. He is a contributing author for the Bergen Record’s Tax Mailbag column, and has appeared on the cable TV program of the same name. Mr. Bookbinder is the author of Write-up Services for Small Businesses, a book published by the AICPA. Mr. Bookbinder is a graduate of Pace University and has attended the American Institute of Banking.

Frank Boutillette

Frank R. Boutillette, CPA, CGMA, ABV

Partner Emeritus

WithumSmith+Brown

Frank is an emeritus partner of WithumSmith+Brown, PC (Withum) with over 35 years of accounting and auditing experience. He is a licensed CPA in New York and New Jersey and has significant experience working with SEC registrants, small and large private entities in various industries, including hedge funds, private equity funds and finance companies. Frank is a member of the American Institute of CPAs (AICPA) and was a former member of the AICPA Peer Review Board. He is a past president of the NJCPA and currently chairs its Peer Review Executive Committee. Frank is a frequent lecturer on accounting and auditing and is a co-author of three accounting books.

David Dacey

David R. Dacey, CPA

Partner

WithumSmith+Brown

David R. Dacey, CPA, is the partner in charge of Withum’s Technical Resources Group, the group which oversees A&A quality within the firm. Dave is based in the firm’s New Brunswick office and has over 30 years of professional accounting and auditing experience. Dave is a certified public accountant in the state of New Jersey. Dave also heads Withum’s accounting and auditing policy CPE committee and is responsible for researching and disseminating updates on technical accounting and auditing pronouncements to the Firm’s professional personnel. His experience spans many industries, including various aspects of manufacturing, wholesale and distribution, and service industries including the legal and medical professions, construction and retail.

Dave received his bachelor’s degree in accounting from Rutgers University, Newark. Before joining Withum, Dave worked with a large regional firm, and with the American Institute of Certified Public Accountants (AICPA). He is a member of the AICPA, where he has participated in various task forces of the SEC Practice Section Peer Review Committee. He is also a member of the New Jersey Society of Certified Public Accountants (NJCPA) and is a frequent presenter at various NJCPA educational seminars, including their annual ERISA conference for 2010 through 2017. Dave resides in Somerset County, NJ.

Parag Patel

Parag P. Patel, J.D., LL.M. (Tax)

Tax Attorney

Parag P. Patel, Esq.

Parag is a tax attorney with the Patel Law Offices in Iselin. His practice concentration is in tax, business transactions and estate planning. He is a board certified estate planning law specialist, a board certified elder law attorney, and a frequent speaker on legal issues affecting tax, offshore tax planning and estate planning. Parag was named a New Jersey Super Lawyer by New Jersey Magazine for tax and estate planning. He has also received an AV rating from the Martindale-Hubbell Peer Review Rating System, which is the highest professional rating possible among lawyers. He is the 2011/12 chairman of the Tax Law Committee of American Bar Association’s GP Solo and Small Firm Division. Parag also serves as a part-time municipal court judge for Edison Township. He is a member of the New Jersey State, New York State, Middlesex County and American Bar Associations.