INDIANAPOLIS, Ind.—Tax law may seem like a static subject, but Bob Jamison, professor of accounting at the Kelley School of Business Indianapolis, says it’s actually very fluid.
“Tax laws change all the time. It doesn’t even take Congress to do it,” said Jamison. “There are court cases and regulation projects that come out of the IRS. There are always changes; there are state developments which, on average with 50 states, can mean tax laws are changing once a week.”
Tax rules evolve so frequently, Jamison has an automatic search engine alert set up to monitor the news.
“It never comes up empty,” he said.
Jamison will be a featured speaker at the upcoming Indiana Tax Institute December 6-7, hosted by the Indiana CPA Society with sponsorship by the Kelley School of Business Indianapolis. A frequent presenter at the annual Institute, Jamison will discuss this year the topic of S corporations.
“S corporations offer privately held corporations the opportunity to avoid double taxation by electing not to pay a federal income tax but instead passing income through to their shareholders, who pay tax on their own returns,” explained Jamison. “Of all the business entities out there, the S corporation is the most popular of the three types of organization.”
The Institute will cover a number of specialty tax law topics including healthcare, technology, ethics, trusts, social security and estate planning. The Indiana CPA Society invited five Kelley Master of Science in Accounting and Master of Science in Taxation students to the two-day event, which attracts a number of accounting firms.
“It’s a great opportunity for professionals and students alike to update their tax law skills,” said Jamison. “The event gives students a good look at some of the issues, and frankly, I take great pride in showcasing these students to the clientele who might be hiring them. Over the past 15 years, we’ve had a very, very positive opinion of our students.”
Jamison is the author of S Corporation Taxation and co-author of Multistate Tax Guide to Pass Through Entities, both updated annually and published by CCH Incorporated. He is also a co-author of Federal Taxation of Subchapter S Corporations in the CCH Expert Treatise Library and a frequent chapter author for the National Income Tax Workbook, published by Land Grant University Tax Education Foundation, Inc.
The Indiana Tax Institute will be held December 6-7 at the Westin Downtown, Indianapolis.