CPE Catalog & Events

Comprehensive coverage of the Inflation Reduction Act of 2022 and the SECURE 2.0 Act of 2022 Timely coverage of breaking tax legislation Schedules K-2 and K-3 reporting requirements Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations Donor Advised Funds Residency and Domicile Selling a principal residence, including tax planning strategies The Independent Contractor vs. Employee Conundrum continues An overview of virtual currency, including recent developments State of the IRS Section 162(m) Executive Compensation Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas

The essential internal control concepts applied in a single audit How the auditor obtains an understanding of controls over compliance and then tests the effectiveness of those controls in a single audit How the auditor plans and performs tests of compliance in a single audit The identification and reporting of control and compliance findings

Introduction to the Fiduciary Entity and Basic Fiduciary Entity Flowchart Authorities & Disciplines in Fiduciary Accounting & Taxation Fiduciary Tax Rates and Brackets Introduction to Subchapter J 5 Basic Rules & Concept of Fiduciary Taxation and Steps to Calculating the Income Taxation of Trusts & Estates Use of a Tax Spreadsheet

Value of DuPont analysis Pros/cons of ratio analysis Cash flow analysis Operating leverage vs. financial leverage Effective financial performance measures Open balance sheet

Fraud and its impact on our clients Fraud prevention Internal controls Fraud Risks Fraud prevention tips

Financial entity IRS filing status Recent ASC updates affecting nonprofits Inflows and Outflows QuickBooks Desktop Setup Data entry Reporting Governance policies and budgeting

Review the Basic Concept of Fiduciary Duty Review the Basic Concept of Fiduciary Accounting Use of a Diagram to Distinguish Income and Principal Calculating Fiduciary Accounting Income Requirements of a Simple Trust Problem Example Spreadsheets Reflecting Fiduciary Accounting and Taxation of Simple Trusts as well as how Depreciation is Handled by a Fiduciary Entity Problem Examples Reflecting a Completed Form 1041 using Spreadsheet Calculations for Fiduciary Accounting and Taxation of Simple Trusts

How experienced speakers manage presentation anxiety The elements of effective persuasion The three styles of speech Strategies to improve speech pace The importance of volume when presenting The art of the pause Methods for using visual aids Best practices for preparing for a presentation Components of an effective presentation

History of the 60-day Rule and Recent Developments Rulings and self-certification Exceptions to the ten percent penalty What the IRS knows: Forms 1099R and 5498 Form 5329 use and strategies

The key requirements and audit areas that peer reviewers hone in on when reviewing Yellow Book and single audit engagements Avoiding common pitfalls seen in Yellow Book and single audits How to improve your performance on Yellow Book and single audits while staying in good graces with your peer reviewer

CPA becoming attuned to broad based business knowledge, professional skepticism, and subordination of judgment The future of medical care in the United States in a post COVID-19 environment Future of social security and impact on retirement planning and employee retention Impact on financial executive if the dollar is no longer the world currency “Fate of the States” – will the location of your business make you less competitive Future of workmen’s compensation and unemployment compensation Future of interest rates Impact of greater reliance on technology AICPA top 10 trends and technologies National infrastructure ESG and DEI trends in the global economy Impact of continuing uncertainty in markets

Basis and at-risk basis How to calculate the amount of annual at-risk basis Forms 6198 and 7203 When activities may be aggregated for at-risk purposes Qualified nonrecourse financing

Tips for improving efficiency with QuickBooks and QuickBooks Online Better reporting when working in QuickBooks environments Tips for cleaning up QuickBooks and QuickBooks Online instances Managing inventory more effectively when working with QuickBooks and QuickBooks Online

Definition of Data Analytics Assessing your organization’s current status and establishing an environment for success Financial staff’s core activities Common uses of analytics and current examples Behavioral forces that impact decisions Examples of inaccurate forecasts  Identifying strategic measurements (KPIs) Improving budgeting and forecasting and addressing Black Swan events Collecting and using data from traditional and non-traditional data sources Statistical tools, including Median, Mode, Moving average, Ratio analysis, Pareto analysis, Rolling forecast, Mission-based budgeting, Trend analysis, Regression, Z-Score (public and private organizations), and Simulation Analytical techniques, including Brainstorming, Mind mapping, and Delphi technique Software tools that are readily available and can assist in visually exploring data; expanding the scope of available data, as well as collecting, analyzing and presenting results (including Dashboards). Specific ideas for using Data Analytics, including immediate opportunities and areas for further consideration Expanded lists of readings and next level software for a participants’ future reference

Applying the wash sale rules in light of losses realized and recognized on the sale of stock or securities Accelerate income into 2022 in light of significant proposed tax rate increases for 2023 and later years Evaluate existing estate plans in anticipation of a potential reduction in the transfer tax exemption Employ intentionally defective grantor trusts before the proposed estate tax changes are scheduled to take effect High income taxpayers should consider selling appreciated capital assets in 2022 to avoid potential substantial long-term capital gain rate increases Cash out of carried interest positions before such positions are taxed as ordinary income Take advantage of Section 1031 exchange opportunities in 2022 Maximize contributions to IRAs and qualified retirement plans Consider making a Roth IRA conversion in 2022 Take advantage of like-kind exchanges before the Section 1031 rules change

The key requirements, options, and best practices seen in each of the basic financial statements Today’s core accounting and reporting requirements related to contributions and how to effectively and efficiently apply them How to analyze and incorporate the needs of financial statement users into a not-for-profit’s financial statements and disclosures

Presentation of financial statements Statement of Cash Flows Accounting policies Events after reporting period Earnings per share Interim financial reporting Operating segments

Preparing for the implementation of the new FASB ASU on grants, contracts, and contributions (i.e., ASU No 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made) Developing a deeper understanding of the requirements in ASU No. 2016-02, Leases, and how not-for-profit entities will implement the standard A review of additional key challenges in not-for-profit accounting today

What’s NEW for this year – Items all practitioners must know  Form 1040 and Schedules 1 – 3  Qualified Business Income -- Coverage of §199A including the real estate safe harbor  A tour of the most recent forms changes, starting from gross income and ending with selected credits, including the latest IRS guidance on significant recent tax legislation  .How will clients (and practitioners) interact with IRS in the future and how the pandemic is steering the IRS to ramp up with digital communication efforts  Hot developments and current areas of interest  Section 461(l) and the related Net Operating Losses  Overview of Virtual Currency and Digital Asset Taxation  Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas  Form 6198 -- At-risk basis: Detailed case study and discussion of how this form is to be used and when it needs to be filed; learn how basis and at-risk basis are different, and why this is significant  Form 6252 -- Installment sale income: A common tax area; however, a case study and discussion of this topic includes advanced issues such as gain on reacquisition of installment sale property, including worksheets on calculating gain & tax basis of reacquired property  Form 5329 -- Additional taxes on qualified plans: Advanced study of how to avoid penalties 

What is ransomware? The growing threat of ransomware — statistics Remote working and COVID-19 Ransomware infection process Incident response protocol Business considerations Legal considerations Breach notification obligations Steps to protect against malware Tabletop exercise