Speaker Profile
NICK PREUSCH
Nick Preusch CPA, JD, LLM, is a tax manager with PBMares, LLP. Nick has participated in helping high wealth individual and large business entities with complex tax compliance, along with specializing in international, non-for-profit tax issues, and tax ethics issues.
Nick has also worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nick is a graduate of Carthage College with a BS in Accounting and Business, the University of Connecticut with an MA in Accounting, Case Western Reserve University with a JD, and Georgetown University with an LLM in taxation. Nick has also authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties, and Circular 230 Enforcement, published by Thomson Reuters. He has lectured nationally on topics such as ethics, complex tax transactions, and IRS practice and procedure.
Currently, Nick is an adjunct professor at the University of Mary Washington. Nick has been recognized as the Top 5 Under 35 CPAs in Virginia by the VSCPA in 2017, CPA Practice Advisor’s Top 40 Under 40 in 2018, and is a member of the VSCPA’s Tax Advisory Committee, and the AICPA’s Tax Practice and Responsibilities Committee.
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Nick Preusch
Recorded Webinar
60 Minutes
LLC Classifications
This webinar will go in depth about everything you ever wanted to know about LLC classifications. We will first look at what being an LLC means and how the entity will file their tax returns. We will look at both foreign and domestic entities and how the check the box rules will vary based on if it is foreign or domestic. Lastly, we will look at the tax consequences of changing entity classifications.Areas ..
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Nick Preusch
Recorded Webinar
60 Minutes
New Beneficial Ownership Rules Start 01/01/2024 - Are You Prepared?
The Corporate Transparency Act is looking to help the government combat money laundering. Recently, bad actors have been using entity structuring to obstruct who is the actual bad actors behind the illegal activities. Until the Corporate Transparency Act, the Federal government had no way of knowing who owned or controlled different businesses entities.The Act took several years to get in place, but it has ..
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Nick Preusch
Recorded Webinar
60 Minutes
Partnership Dispositions
This course will look at the basics of partnership distributions and abandonments. The course will first understand abandonments and the tax treatment of them. After, we will look at the basics of a partnership disposition. We will then shift our focus on more complex dispositions involving ordinary assets that fall under IRC 751(a) and (b) we will also cover the reporting required under 751(a) and (b) as w..
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Nick Preusch
Recorded Webinar
60 Minutes
Shareholder Basis
This webinar will look and the in's and out's of basis for S Corps and partnerships. Along with the importance of properly calculating basis. We will start with S Corps and determine how to calculate the basis in an S Corp interest, along with ordering elections for properly calculating basis. Then we will look into partnerships and after determining the difference between inside and outside basis, we will ..
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Capital Gains and Loses
This webinar will do a quick in-depth deep dive into capital gains. We will look at what they are, how do they come up, and how taxpayers can take advantage of the tax code to lessen their impact. We will start up by defining what is a capital asset. This is usually an easy question, but it can be difficult when we look at things like partnership interests and disposition of partnership interest. We will th..
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Improve Your IRS Compliance: Use Best Practices for TIN Solicitation
This IRS regulatory compliance training will explain the Best TIN Solicitation Best Practices. While TIN solicitation might sound too lascivious for the legitimate business world, it is critical that every organization take this task seriously. For if they don't, a very uncomfortable and costly audit with the IRS is likely to ensue.Areas CoveredIdentify all required TIN information you need to collectDesign..
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Multi-State Nexus: What you need to know after the Game Changing Wayfair Decision
As businesses use more and more e-commerce to reach customers, it becomes highly likely that the business will eventually cross state lines. Most companies are comfortable collecting and remitting sales tax to their home state but often struggle to know when and why state sales taxes may need to be collected from different states. For the longest time, these companies were able to rely on a Supreme Court ca..
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Must Know Tax Issues for Tax Exempt Organizations
This webinar will be the best guide to issue spotting potential problems a non-for-profit may come across and how to appropriately handle them. The IRS allows certain organizations to not pay taxes as long as they meet strict guidelines. Violating these guidelines can have strict and harsh ramifications for the non-for-profit and the people in charge of the organization.This webinar will help to first prope..
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Overview of the Tax Cuts and Jobs Act
In 2017, Congress passed the Tax Cuts and Jobs Act. This is the greatest tax law change since the 1980s when Congress added the passive loss rules. With it being such a large tax bill, there are many changes between the old law, new law, and future law (as many of the changes do eventually expire).This course will cover all of the major changes in the tax law. For individuals, we will look at the impact of ..
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State and Local Income Tax Issues
In this practical webinar, you will learn with the expansion of the Internet, more and more companies are performing work out of their home state. It’s important to get a basic understanding of state and local tax issues in order to help guide clients in these other states as well as their home states.Upon course completion, you will be able to:Determine where nexus is and if it existsFigure out sales and u..
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Tax Ethics and Circular 230
Congress is currently considering legislation that would require all tax preparers to follow the ethical guidelines and rules under Circular 230.Currently, the IRS only requires practitioners who represent taxpayers before the IRS to follow Circular 230 due to the Loving case. Even though tax representation creates a jurisdiction hook, tax representatives can still run afoul for tax preparation issues under..