CPE Catalog & Events

The new Roth SEP IRAs and Roth SIMPLE IRAs created under SECURE Act 2.0 Key factors for choosing a retirement plan for a small business Key questions an advisor must ask a small business owner to help determine which retirement plan is suitable for their business Key questions an advisor must ask a small business owner to help ensure compliance with applicable rules and regulations How SEP and SIMPLE IRAs benefit the small business owner How SEP and SIMPLE IRAs benefit employees of small businesses The tax benefits that help to offset the cost of employer contributions How to determine which business is eligible to adopt a SIMPLE IRA or SEP IRA How to determine which employees must be covered

Understand how to approach and analyze the U.S. taxation of foreign corporations Using an example, calculate GILTI, Subpart F, and PFIC income inclusions for an individual and C corporation Determine how much foreign tax credit can be claimed against such income inclusions Determine how subsequent dividend distributions from the foreign corporation are taxed Calculate capital gain on the disposition of the foreign corporation Discuss the impact of Section 962 election Compare different outcomes under GILTI, Subpart F, and PFIC regimes for individuals and corporations Identify basic strategies for managing tax liabilities related to foreign corporations

What is a transaction of interest? Reporting transactions of interest on Form 8886 Why make a Section 754 election? Adjustments under Sections 743(b), 734(b), and 732 Applicable threshold amounts for reporting What is a basis shift? Who is a material advisor and why is that status important? Section 755 rules for allocating the Section 743(b) and Section 734(b) basis adjustments Transfers of a partnership interest on death What is a substantially similar transaction? Who is a “tax-indifferent” party in a partnership?

Latest state of the economy Expense control that works Understanding our changing workforce and working environment Financial risk analysis Enterprise risk management Improving bank relationships

Preparation of a reasonably complicated Form 1120, “U.S. Corporate Income Tax Return,” from trial balance to completed return The importance of Schedule M-1, including adjustments in reconciling book income to tax income and items staff may look for on all business returns New tax-planning strategies for depreciation deductions, including changes to §179 and first-year depreciation under §168(k) as a result of new tax legislation Methods of accounting In-depth analysis of Form 4797 dealing with depreciation recapture Deductible expenses, including rules on meals and entertainment Section 163(j) Computation of tax liability Overview of common business deductions – deductibility and Schedule M-1 How to practically handle uniform capitalization and inventory accounting for a small manufacturing concern And more!

Using lookup functions as an alternative to direct cell references Understand the limitations of the VLOOKUP function Discover ways to move beyond these limitations

Tax rules governing liquidation of a partnership or S corporation Tax treatment of the shareholder/partner/member receiving a liquidating distribution in an S corporation liquidation/partnership liquidation Tax impact on the pass-through entity when the entity is liquidated Receipt of corporate liabilities in an S corporation distribution Proportionate, liquidating partnership distributions to partners, and gains and losses to a partner on a liquidating partnership distribution Tax issues associated with a partnership distribution of noncash properties in a liquidation Compliance requirements on the occasion of a liquidation of a corporation or a partnership

What states do not have an income tax? What is the relevance to employers? Where does an employer have an obligation to withhold state taxes for an employee? At what point does an employee become a resident? Where is unemployment paid for an out of state employee?

Changing Role of Financial Professionals: Priorities Change in mission Valued-added actions Strategic Measurements: Common errors and guidelines for improvement Balanced scorecard Strategy development and implementation Budgeting basics and next steps Risk Management: Recent lessons, including Black Swan events Defining Enterprise Risk Management (ERM) Implementation Developing a Financial Leadership Pipeline: Changing employment environment Retaining the right employees Compensation Hiring process Capital Projects: Types of projects Factors affecting capacity Valuation techniques Cash management M&A Activity: Current environment Controller’s role Strategic questions Sample transactions Due diligence Implementation Introducing Improvements/Innovation: Getting started Establishing an environment Potential first projects Organizational structure

Using the Table object to store data Using the conditional summing function to aggregate Table data Using the Table object to create mapping tables

Complying with the beneficial ownership information reporting requirements The current status of the Employee Retention Credit Voluntary Disclosure Program Using the newly expanded access to business tax accounts for partners and shareholders of S corporations IRS guidance allowing car dealers to provide electric vehicle tax rebates upfront to qualified auto buyers Monetizing energy credits Amortization of research and experimental expenditures Dealing with the taxpayer loss in the Tax Court in Soroban Capital Partners requiring managers to pay self-employment tax on certain payments to limited partners Contributions to Roth “catch-up” plans Roth contributions to a SEP and Simple IRA Employer matching contributions to a Roth account Section 179 and bonus depreciation Roth 401(k) contributions no longer subject to RMDs during the owner’s lifetime

Study real-life misappropriations involving federal awards and how they were carried out The backgrounds, motivations and methodologies of the fraudsters Brainstorm where things went wrong that allowed the frauds to occur without prevention or detection

Commencement of a bankruptcy proceeding Protections provided to debtors under the Bankruptcy Code Key procedural aspects of bankruptcy The automatic stay Differences between Chapters 7, 11, and 13 bankruptcy cases The bankruptcy discharge Proofs of claim Plans of reorganization Litigation that can arise during bankruptcy Creditor committees Bankruptcy trustees Avoidable preferences and fraudulent transfers Special rights afforded to landlords and secured creditors

Form W-4 Form I-9 Form W-9 End-of-year compliance Payroll tax returns Unemployment insurance

Recently issued but newly implemented Accounting Standards Updates (ASUs), the PCC Update, and items on the FASB’s Technical Agenda New ASUs covering disaggregated expenses, crypto assets (e.g., cryptocurrency), and business combinations Results and findings of the FASB’s Final (Stage 3) Post-Implementation Review (PIR) Report on Topic 606 Recently issued SASs and other AICPA activity through SAS No. 149 Detailed review of the three new Statement on Quality Management Standards (SQMS 1, SQMS 2, and SQMS 3) Other important A&A practice matters

Resolved technical glitches for qualified improvement property Detailed coverage of §179 expense elections and §168(k) bonus or additional first-year depreciation – how to maximize them, definitions, limitations, qualified property, etc. Sale of property and the depreciation recapture rules (§1245, §1250, unrecaptured §1250 gain for real estate, §291 for corporations) MACRS depreciation – finding the proper method, convention, and recovery period Listed property and the current limitations Amortization of start-up, organization, and other expenditures AMT depreciation adjustments and how to avoid them Examples, cases, and rulings of depreciation and amortization issues and how they impact clients, along with useful planning opportunities

How does a partner compute his or her basis in a partnership? What is the difference between a partner’s inside and outside basis? What is the difference between a partner’s capital account and partner’s outside basis? How does Section 732(d) impact the buyer of a partnership interest? How does a partnership report a Section 754 election on the partnership’s tax return? How does a partnership make a Section 754 election? How does a partnership make a Section 743(b) adjustment? How does a partnership make a Section 734(b) adjustment? How is a Section 743(b) adjustment or Section 734(b) adjustment allocated to the assets of a partnership? How is a Section 743(b) adjustment allocated within the class of ordinary income property and capital gain property?

Understanding the risk-based program selection approach to identifying major programs The four-step major program determination process How to identify ”not low-risk type A programs” and “high-risk type B programs”

Estimated taxes and deadlines Tax due dates for common returns and filings Potential penalties and interest Information return penalties Penalties applicable to pass-through entities Accuracy-related penalties First-time abatement (FTA) FTA eligible returns Reasonable cause Nexus: sales tax vs. income tax Sales tax nexus with state specific examples Remote work and sales tax nexus Income tax nexus with state-specific examples Remote work and income tax nexus Sales factor: throwback rules

Quality management standards SAS 146, SSARS No. 26, and SSAE 23 Risk assessment, which forms the basis of the SQM Monitoring and evaluating the SQM