North Carolina Society of Accountants, Inc. upcoming events

NCSA Spring Education 3 Webinars (Thursday, May 21, 2026)

Thu, 21 May 2026 16:00:00 GMT

A8FPT-T-00110-26-O (1-HR IRS CE)
Practice Management-Scheduling Tax Prep

with speaker Brenda S. Cannon, CPA

Date of Program May 7, 2026 12:00 PM

Program Description:

This course examines a practical workflow model for tax firms that replaces broad drop-off deadlines with scheduled document delivery dates. Using a real firm implementation example, participants will evaluate how scheduled tax preparation can improve capacity planning, reduce compressed workload, support healthier staffing patterns, improve client communication, and create more predictable turnaround times. Accounting professionals will gain practical insight into calendar design, client messaging, internal procedures, handling extensions, and managing exceptions when implementing a more controlled tax-season process.

LEARNING OBJECTIVES

After completing this course, participants will be able to:

Identify operational problems caused by traditional drop-off deadlines and compressed seasonal workflow.
Evaluate the key implementation steps needed to transition a tax firm to a scheduled tax preparation model.
Recognize client communication practices that support adoption of scheduled tax preparation and extension management.
Assess internal workflow strategies for handling capacity limits, missing information, and exception cases within a scheduled process.

A8FPT-T-00111-26-O (1-HR IRS CE)

Reviewing Operating Agreements for Partnership & S Corp Tax Issues

with Roger Ledbetter, CPA

Date of Program May 14, 2026 12:00PM

Program Description:

This course addresses how accounting and tax professionals can review operating agreements to identify provisions that affect partnership allocations, preferred returns, guaranteed payments, minimum gain, tax elections, unreimbursed partnership expenses, and S corporation eligibility. Using practical examples from real estate, syndication, and pass-through entity work, the session shows why operating agreement review matters during onboarding, tax return preparation, and tax planning. Participants will gain a practical framework for spotting high-risk language, understanding how agreement terms flow through to the tax return, and recognizing when legal revisions may be necessary.

LEARNING OBJECTIVES

After completing this course, participants will be able to:

Identify key operating agreement terms that commonly affect partnership and S corporation tax reporting.
Differentiate between safe harbor and target capital allocation methods and their effect on income and loss allocations.
Recognize operating agreement provisions that may create tax reporting issues involving preferred returns, guaranteed payments, minimum gain, and mandated tax elections.
Assess S corporation operating agreement language for provisions that may create an invalid second class of stock or other eligibility concerns.
Evaluate when operating agreement language should be escalated for amendment or attorney review based on potential tax consequences.

A8FPT-T-00112-26-O (1-HR IRS CE)

Sch E Rental Properties: Navigating Complex & Unique Situations

with James P Upton, III Enrolled Agent/Accountant

Date of Program May 21, 2026 12:00 PM

Course description:

This one-hour continuing education program provides an in-depth examination of complex and often misunderstood Schedule E rental property reporting situations. Designed for Enrolled Agents and other tax professionals, this course moves beyond basic rental reporting to address the nuanced scenarios that create the greatest compliance risk and planning opportunities for clients.

Participants will explore the short-term rental loophole under IRC §469 and the regulations governing average rental periods of seven days or less, including how material participation can convert otherwise passive rental losses into nonpassive deductions. The program addresses critical depreciation considerations including placed-in-service rules, cost segregation studies, bonus depreciation phase-down implications, and the Section 179 limitation for rental activities.

The course also examines change-in-use scenarios—converting a personal residence to rental property and vice versa—with emphasis on adjusted basis calculations, suspended loss recognition, and the interplay with the Section 121 exclusion. Participants will learn the rules for allocating expenses when only a portion of a home is rented, including shared-space situations such as renting a room or accessory dwelling unit (ADU).

Finally, the program provides a comprehensive framework for determining when rental income should be reported on Schedule E as passive activity versus Schedule C as an active trade or business, with particular focus on the substantial services test, material participation standards under Temp. Reg. §1.469-5T, and real estate professional status under IRC §469(c)(7).

Learning Objectives:

Upon completion of this program, participants will be able to:

Identify the conditions under which a short-term rental activity is excluded from the passive activity rental definition under IRC §469(j)(8) and Temp. Reg. §1.469-1T(e)(3)(ii), and explain how material participation can unlock nonpassive loss treatment.
Determine the correct depreciable basis and recovery period for residential rental property, evaluate when a cost segregation study is appropriate, and apply current bonus depreciation phase-down percentages to short-lived asset components.
Calculate the adjusted basis of a personal residence converted to rental property, apply the lower-of-cost-or-FMV rule at the date of conversion, and recognize suspended passive losses upon disposition.
Apply the expense allocation rules for a dwelling unit that is partially rented, including the IRS method versus the Tax Court method for mortgage interest and real estate tax allocation, and determine when the vacation home rules under IRC §280A apply.
Distinguish between rental activities reported on Schedule E and those requiring Schedule C reporting based on the substantial services test, average rental period, and the taxpayer’s level of involvement in the activity.
Apply the material participation tests and real estate professional status requirements to determine the passive or nonpassive character of rental income and losses for individual taxpayers.

Sch E Rental Properties: Navigating Complex & Unique Situations (Thursday, May 21, 2026)

Thu, 21 May 2026 16:00:00 GMT

A8FPT-T-00112-26-O (1-HR IRS CE)

Sch E Rental Properties: Navigating Complex & Unique Situations

with James P Upton, III Enrolled Agent/Accountant

Course description:

Learning Objectives:

Upon completion of this program, participants will be able to:

1. Identify the conditions under which a short-term rental activity is excluded from the passive activity rental definition under IRC §469(j)(8) and Temp. Reg. §1.469-1T(e)(3)(ii), and explain how material participation can unlock nonpassive loss treatment.

2. Determine the correct depreciable basis and recovery period for residential rental property, evaluate when a cost segregation study is appropriate, and apply current bonus depreciation phase-down percentages to short-lived asset components.

3. Calculate the adjusted basis of a personal residence converted to rental property, apply the lower-of-cost-or-FMV rule at the date of conversion, and recognize suspended passive losses upon disposition.

4. Apply the expense allocation rules for a dwelling unit that is partially rented, including the IRS method versus the Tax Court method for mortgage interest and real estate tax allocation, and determine when the vacation home rules under IRC §280A apply.

5. Distinguish between rental activities reported on Schedule E and those requiring Schedule C reporting based on the substantial services test, average rental period, and the taxpayer’s level of involvement in the activity.

6. Apply the material participation tests and real estate professional status requirements to determine the passive or nonpassive character of rental income and losses for individual taxpayers.

NCDOR Sales Tax Update - Twilight Knowledge Series (Tuesday, May 26, 2026)

Tue, 26 May 2026 22:00:00 GMT

Join NCSA for the new Twilight Knowlege Series!

NCDOR Sales Tax Update with Edward Shumaker, Education Officer, NCDOR.

This session DOES NOT qualify for IRS CE.

The NCSA Western Chapter will meet immediately after the conclusion of this meeting.

NCSA Members - no cost

Non Members - $40

79th Annual Meeting & Convention (Wednesday, June 17, 2026)

Wed, 17 Jun 2026 16:00:00 GMT

NCSA 79th Annual Meeting & Convention

2026 Schedule

Dates: June 17-19, 2026

Location: The Historic Brookstown Inn, 200 Brookstown Ave. Winston-Salem, NC 27101.

HOTEL BOOKING LINK- ROOM BLOCK EXPIRES 5/17

Room rates are $125 per night plus tax and include Hot Southern Breakfast each morning, Evening Wine & Cheese reception, Freshly baked cookies & milk at bedtime, complimentary parking and free high-speed wireless internet service. Our NCSA room block will expire on 5/17/2026 please make reservations right away!

Wednesday, June 17, 2026

Hotel Check-in
Noon Registration Open
1:00-4:45 PM Practice Management Session
5:30-6:30 PM Kickoff Reception
Dinner on your own
8:00 PM Nominating Committee
8:00 PM Game Time/Afterparty

Thursday, June 18, 2026

8:30 AM Tax Practice Sessions ~Vendors and Demos
12:15 PM NSA Luncheon
2-4:30 PM NCSA Annual Meeting
6:30 PM President's Dinner offsite *(Dutch Treat/pay in advance) Jeffrey Adams on Fourth

Friday, June 19, 2026

8:30 AM NCSA Installation Breakfast & Awards
Brief Meeting of Nominating Committee & 2026-2027 Board will follow

EDUCATION OFFERED

Wednesday, June 17-

Practice Management Session- 4 hrs. Accounting CPE

It's time to look toward the future and investigate the tech tools, and automations including AI that will shape our work as we move forward! Let's learn more together!

Thursday, June 18-

Individual & Business Hot Topics-2 hrs. IRS CPE (A8FPT-T-00113-26-I)

The One Big Beautiful Bill Act introduces significant individual tax changes for 2026, including an enhanced standard deduction, revised tax rates, and an expanded child tax credit, while creating new exclusions for tip income, overtime pay, and Social Security benefits for qualifying seniors with income limitations. The SALT deduction cap has been modified with varying impacts by filing status, and the IRS is transitioning away from paper refund checks toward direct deposit and prepaid debit card options. Business provisions include a permanent Section 199A QBI deduction extension with updated phase-outs, restored 100% bonus depreciation under Section 168(k) for assets placed in service in 2026, and revised Section 174 R&E amortization rules affecting small business taxpayers.

Entity Issues (1065 vs 1120S vs Sch C)- 2 hrs. IRS CPE (A8FPT-T-00114-26-I)

This two-hour CE program helps tax practitioners evaluate and choose the right business structure for their clients, focusing on the key differences between partnerships and S corporations and how LLCs fit into the federal tax classification system. The program covers the practical advantages and pitfalls of each entity type, including flexibility in allocating income, tax-free contribution and distribution rules, and strategies for compensating service partners. A standout topic is the significant estate planning advantage partnerships hold over S corporations when a partner dies and assets have appreciated in value.