CPE Catalog & Events

Underlying concepts of internal control Defining where and why controls, policies and procedures are needed Legacy control measures that are still important for businesses today Creating control measures that address the use and protection of technology

Classifying receipts between “income” and “corpus” under the Uniform Principal and Income Act Calculation of DNI utilizing three different methods, a “forms” method (Schedule B), a “code” method, and a “shortcut” method, utilizing a worksheet of common income and expenses Proper W-2 preparation and procedures in the year of death Taxpayer passes before taking a required minimum distribution; what must be done?  Forgetful fiduciaries of simple trusts Fluctuating trusts – Simple one year, complex the next Dividing income in the year of death Overview of Subchapter J Form preparation issues – Filing requirements and line-by-line explanations of Form 1041 Taxable income of estates and trusts and expense allocation issues Specific deductions and miscellaneous itemized deductions Income in respect of a decedent The income distribution deduction calculation Relation of principal and income law to DNI Understanding how to handle capital gains and losses Allocating tax items to beneficiaries: another K-1 Other considerations: excess deductions on termination Comprehensive DNI case study, with principal (cost and FMV) and income reconciliation Comprehensive trust and estate case studies, with filled-in forms

Comprehensive coverage of the Inflation Reduction Act of 2022  Gain a thorough understanding of federal income tax laws for partnerships and LLCs, from formation to tax return preparation issues  Filing requirements for Schedules K-2 and K-3  Who files Form 1065, and who does not file Form 1065  Tax Basis Capital Account Reporting Requirements  Trade or Business income and expenses versus Separately Stated Items  The importance of Schedule M-1  Partnership distributions -- current or liquidating, cash or property  How to allocate recourse and nonrecourse debt  Self-employment tax issues; court cases and trends in tax audits of earnings subject to self-employment taxes Complete coverage of any new legislation enacted before presentation  Section 163(j) limitations  Mastering two common tax forms, Depreciation (4562) and Sale of Assets (4797)  Final regulations on Section 168(k)  Partnership reporting oddities  Accurately preparing partnership returns and reconciling book income to taxable income  The Centralized Audit Regime under the Bipartisan Budget Act of 2015   

How to optimize cash flow Qualitative evaluations: core earnings and sustainable growth Quantitative evaluations: liquidity ratios Increasing customer base vs. payment terms Business cycle and cash Behavioral finance biases Managing head count Other potential areas of excess cost

The value of strategic networking Quality vs. quantity in networking Networking for professional opportunities Person-to-person networking Maintaining and expanding your current connections Networking for introverts Long-term networking strategies

Types of partnership distributions Liquidating partnership distributions Basis of property distributed by a partnership Special basis adjustments under Section 732(d) Abandoned and worthless partnership interests Section 751(a) exchange Transactions between partners and their partnerships Disguised sales Section 736(a) and (b) payments

SSARS No. 21, Clarification and Recodification, and updates to SSARS No. 21 due to the issuance of SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services SSARS No. 22, Compilation of Pro Forma Financial Information SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services -- 2018 SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions  SSARS No. 26, Quality Management for an Engagement Conducted in Accordance With Statements on Standards for Accounting and Review Services Sample comprehensive engagement work programs for preparation, compilation and review engagements Reporting and disclosure illustrations for each level of service, including attesting on personal financial statements, prescribed form, special purpose framework and other engagement variations Other communication requirements, such as sample engagement letters and management representation letters

Review of select AICPA Technical Questions and Answers Upcoming changes to accounting for goodwill, leasing and business combinations Compilation and review standards and interpretations (SSARS) Auditing standards and interpretations (SAS & SSAE)

Underlying concepts of internal control Defining where and why controls, policies and procedures are needed Legacy control measures that are still important for businesses today Creating control measures that address the use and protection of technology

Recently issued FASB Accounting Standards Updates, PCC Update and items on the FASB’s Technical Agenda Leases – Topic 842 Recently issued ASUs covering common control leases, crypto assets (e.g., cryptocurrency), and income tax disclosures ASC 326: CECL Review of SAS 142 – Focus on Audit Evidence Recently issued SASs and other AICPA activity SSARS No. 25 and other recently issued SSARS Detailed review of SAS 145 Other important A&A practice matters

Comprehensive coverage of the Inflation Reduction Act, including: The Clean Vehicle Credit, Credit for Previously Owned Clean Vehicles, Credit for Qualified Commercial Clean Vehicles, Residential Clean Energy Credit, Energy Efficient Home Improvement Credit, Premium Tax Credit, Elective Payment, Transferability, and Prevailing Wage and Apprenticeship Requirements Comprehensive coverage of the SECURE 2.0 Act, including: Expanding Enrollment in Retirement Plans, Increase in Age for Required Beginning Date for Mandatory Distributions, New Exceptions to Penalty-Free Withdrawal from Retirement Plans, and recent IRS guidance Timely coverage of breaking tax legislation Form 1099-K reporting requirements Detailed analysis and examples of Sale of Passthrough Entity Interest and Net Investment Income Tax The Gig Economy -- Tax implications, Independent Contractor vs. Employee Classification, and the DOL Final Rule FinCEN reporting requirements under the Corporate Transparency Act  Employee Retention Tax Credit updates 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

Determining when filing a Tax Court case can be a strategic benefit Learn how to file the case Understand the steps and deadlines in the Tax Court process Review the settlement process Know when the case gets to the point where you need help

Becoming qualified as an expert witness Best practices for testifying at trial Understanding the different roles accountants can play in litigation Working with attorneys to prepare and present a case at trial The role of experts in commercial versus personal injury litigation Confidentiality orders Compensation for expert witnesses Preparing for and attending depositions Daubert challenges to experts Expert reports The role of experts in antitrust, securities litigation, and professional liability cases Credibility as a witness

Examine real-world misappropriations of cash, check frauds, vendor scams, credit card abuse, grant frauds, benefit schemes, inventory thefts, and payroll frauds Consider and develop controls to stop fraud Tailor controls to the size and fit of the government or nonprofit

How to determine when an individual is subject to an RMD Coverage of RMD changes under SECURE Act 2.0 What is the required minimum distribution for an account owner? What is the required minimum distribution for a beneficiary IRA? Key explanations of RMD regulations The types of accounts that are subject to the RMD rules The parties that are subject to the RMD rules Exceptions and special considerations for RMDs Rollover and transfer rules in an RMD year The various responsibilities of interested parties Qualified charitable distributions and how they are coordinated with RMDs and IRA contributions How the 10-year rule works for beneficiaries

Considerations for a small business owner Self-employment taxes Guaranteed payments to partners QBI deductions: Section 199A Built-in gains tax: S corporations Excess passive income tax: S corporations PTE elections: S corporations and partnerships Taxation of fringe benefits: S corporations Double taxation of C corporation dividends Taxation of limited liability companies Which entity to choose?

Major 2025 tax form changes as they relate to individual taxpayers Key new tax developments as they relate to 2025 and how they impact the 2025 tax forms

Critical concepts related to applying the Yellow Book including when the standards are applicable; the types of engagements involved; and the relationship between the Yellow Book and other standards The Yellow Book standards related to ethics; independence; professional judgment; competence and CPE; quality management; and peer review The Yellow Book requirements related to performing and reporting on financial audits and how those requirements affect the audit in areas like internal control

ERISA compliance: employee welfare plans and qualified plans Fringe benefit issues: COBRA, Family and Medical Leave Act, and new developments in health care Health care plans: HRAs, HSAs, and other employer-sponsored plans Qualified plan requirements: eligibility, coverage, and vesting

Emphasize form 1040 and the accompanying reporting schedules for a basic individual income tax return Identify and be able to implement basic individual income tax planning ideas for clients Familiarity with several source documents utilized in the preparation of an individual income tax return Identify common errors made in the preparation of an individual income tax return and understand how to avoid the errors in the future