The year 2019 has brought many 50th anniversaries. In 1969, for instance, men first walked on the moon. Hundreds of thousands of people partied at Woodstock. New York’s Jets and Mets won championships.

During the intervening years, many things have changed. There hasn’t been a moonwalk since 1972. Bethel, New York, where the Woodstock festival actually took place, is now a town of around 4,000 residents. Between them, the Jets and Mets have won only one more time (the Mets, in 1986).

Nevertheless, as it has been said, plus ça change, plus c’est la même chose. Among the “same things,” from then until now, Sidney Kess continues to organize and introduce the UJA-Federation of New York’s Estate Tax Financial Planning Conference. It will be held in New York City on Sept. 18, with Michael J. Desmond, chief counsel of the Internal Revenue Service, serving as the keynote speaker.

Back to the beginning

Yet another notable occurrence a half-century ago was passage of the Tax Reform Act of 1969, which included many provisions affecting private foundations. The UJA-Federation wanted to reach out to professionals such as lawyers and accountants, encouraging them to engage in charitable fundraising activities that complied with this new law. The UJA-Federation’s efforts included meeting with Kess, who has law degrees from Harvard and New York University, as well as a CPA designation. Kess had just been named national director of taxation at the CPA firm Main LaFrentz.

At that meeting with UJA-Federation, Kess expressed the belief that most CPAs and attorneys lacked formal training in estate planning or financial planning. The UJA-Federation, he suggested, could fill this void with a conference on those subjects and relevant tax issues. Kess agreed to organize and moderate such a conference, provided there would be no fundraising at the meeting and that the subject matter would focus on helping all charities, rather than promoting the UJA-Federation.

With those underlying premises, this UJA-Foundation conference has become a well-respected and well-attended event in the financial advisory world. Speakers have included former IRS commissioners, assistant Treasury secretaries for tax policy, surrogate judges, acclaimed attorneys and admired accountants. Such speakers have attracted hundreds of attendees, who can learn from experts while earning CLE/CPE and CFP continuing education credits.

A powerful program

At the 2019 conference, morning session topics will range from changing residency to charitable giving to Medicaid planning, followed by workshops on subjects such as providing for incapacity and estate planning for IRAs.

At the luncheon program, keynote speaker Michael Desmond will describe how the IRS is implementing the Tax Cuts and Jobs Act of 2017.

Following the luncheon program, afternoon sessions will include real estate and various creative planning tips. Winding up, more workshops will be on the menu; one of those workshops, on international planning for non-resident clients, will be led by Chaya Siegfried, CPA, the lead of International Business Tax at accounting firm Withum Smith+Brown in Red Bank, New Jersey. (Kess was recently injured, but will be speaking remotely from home, where he is recuperating.)

The UJA-Federation will cite Kess for his 50 years of dedication to this conference, expressing its appreciation for the knowledge, energy, and commitment he has invested each year.

50 times 2

Impressive as Kess’s work with the UJA-Federation has been, it’s not the only major anniversary for him this year. He’s also celebrating 50 years of producing a monthly column, Tax Tips, for the New York Law Journal. As might be expected, these articles cover tax topics of interest to attorneys, showing a considerable breadth of knowledge.

Recently, for example, Kess wrote about reporting foreign accounts. U.S. citizens, residents and certain domestic entities not only are taxed on their worldwide income, they also must file annual reports when foreign accounts exceed specified amounts. Failure to comply can be costly.

The previous monthly column covered an entirely different subject: health savings accounts. Individuals and families with qualifying high-deductible health insurance can have HSAs, which offer unique tax benefits. Contributions are tax-deductible, any investment income inside an HSA is untaxed, and distributions are tax-free if used for valid health care expenses.

Earlier in 2019, Kess’s columns have covered sideline activities, deducting meal costs, and the new Qualified Business Income tax deduction for real estate investors. On and on, month after month, for the last 50 years, Kess has explained a wide variety of tax code nuances to the publication’s readers.

A life of service

What’s more, the contributions Kess has made, and continues to make, to the UJA-Federation and the New York Law Journal, are only part of his distinguished history. He served in France and Germany during World War II and completed his education under the G.I. Bill. Besides working for Main LaFrentz, as mentioned, Kess’ career path also includes stints as a tax partner at KPMG Peat Marwick and as national director of tax at KPMG Main Hurdman.

Kess also has written, co-authored, and edited many books, offered via Amazon and other sources. Popular titles include Financial and Estate Planning Guide and Retirement Planning Guide, both published by CCH (Commerce Clearing House), a Wolters Kluwer business. In 2017, the American Institute of CPAs created The Sid Kess Approach, a 160-page book, to celebrate Kess’ many contributions to the CPA profession.

Among many honors, Kess has been named as “Most Influential Practitioner” by CPA Magazine, has been included among Accounting Today’s “100 Most Influential CPAs in the U.S.,” and was recipient of the AICPA’s “Special Recognition Award” for his many years of contributions to the AICPA’s continuing professional education program. Indeed, the AICPA has established the Sidney Kess Award for Excellence in Continuing Education, to recognize individual CPAs who have made significant and outstanding contributions in tax and financial planning and whose public service exemplifies the CPA profession’s finest values and ethics. (Kess was the first recipient of this award.)

Kess has been inducted into the Estate Planning Hall of Fame by the National Association of Estate Planners Councils for his distinguished service to the field of estate planning. The New York State Society of CPAs also has placed Kess in its Hall of Fame. Still active, Kess is a senior consultant to Top 100 CPA firm Citrin Cooperman, as listed by Accounting Today, and of counsel to Kostelanetz Fink, a law firm specializing in high-stakes negotiations and controversies with government agencies.