CPE Catalog & Events

Making an S corporation election and late filing relief Disproportionate distributions Selling S corporation shares Redemption rules

Definitions of key terms under the FMLA, including covered employer, eligible employee, and serious health condition Timing and types of leave under the FMLA Calculating leave time under the FMLA Employer and employee notice requirements The definition of a “disability” under ADA An employer’s obligation to provide employees with a reasonable accommodation under the ADA Guidance on engaging in the interactive process Dos and don’ts of medical certifications The interplay between the Americans with Disabilities Act and the Family and Medical Leave Act

Establishing a system: identifying forces that support the status quo; setting milestones and goals; the role of the CMA Necessary first steps: set a framework for the project’s activities; identify needed resources; obtain support; decide on a structure; establish a team for a specific project; identify necessary team skill sets Project evaluation: analytical tools, strategic evaluation; sources of risk Maintaining focus: monitoring and measuring results; keeping to the project’s scope Avoiding frequent traps: sunk costs; financing pitfalls; project creep; tunnel vision; failure to integrate the team’s work internally and/or the final project with the remaining organization Introduction and examples of analytical tools throughout the session: mapping; CPM; Gantt charts; benchmarking; Pareto analysis; PESTLE analysis; valuation techniques; post-completion evaluations

Preparation Compilations Reviews

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 an error-prone "staff-prepared" Form 1040 from client-provided information. Where do you start? Get to know your client and ask the questions Several new reporting issues for the reviewer to consider, including the main credit provisions as enacted under the American Rescue Plan What are common errors preparers make and what are the areas generating malpractice claims? The importance of engagement letters, questionnaires, and §7216 permission statement Initial administrative groundwork Identifying organizing issues in the tax return to be reviewed Avoiding “willful blindness.” Handling ethical and moral dilemmas Efficient review of certain advanced issues for income, adjustments, deductions, and credits Effective procedures for delinquent clients, filing past-due tax returns First-time client issues requiring extra scrutiny Multiple checklists of efficient procedures to identify potential issues on a 1040 return Listing of schedules for staff to prepare to make a review easier, including basis issues for 1040 clients Reconciling time pressure with thoroughness and quality control Professionals acting professionally

Congressional Budget Reconciliation Process - explore how this powerful legislative tool allows Congress to fast track tax law changes and how it could be used to enact significant tax reforms in the current political climate President Trump's tax proposals - review key components of President Trump's tax agenda, including a tip income exemption, overtime pay relief, Social Security tax exemption, auto loan interest deductibility, SALT deduction modifications, a lower corporate tax rate, restoration of 100% bonus depreciation, immediate R&D expensing, and permanent extension of select TCJA provisions Potential expiration of select TCJA provisions - understand the implications for individual and business taxpayers as key provisions of the TCJA approach sunset dates Tariff policy and implementation - analyze the use of tariffs as a fiscal and trade policy tool Digital assets and tax implications - understand the new Form 1099-DA for reporting digital asset transactions, along with updated IRS guidance on cryptocurrencies, NFTs, and broker responsibilities Artificial intelligence - discover how AI and generative tools are transforming tax practices, as well as how the IRS is leveraging AI to enhance audit selection Form 1099-K reporting requirements - understand the evolving IRS thresholds and rules for third-party payment platforms Sale of Passthrough Entity Interests and Net Investment Income Tax - analyze the tax implications of selling interests in passthrough entities, including relevant examples, and how the Net Investment Income Tax (NIIT) applies to these transactions  The Gig Economy - examine key tax implications for gig workers, including Independent Contractor vs. Employee classification challenges, reporting responsibilities, and the impact of the 2024 Department of Labor Final Rule on worker status Timely coverage of breaking tax legislation 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

Creating a visionary company Traits of successful, visionary companies Goal setting to create a successful organization The role of experimentation and failure in achieving success How successful organizations emphasize learning new skills The role of effective communication in achieving corporate success The importance of emotional intelligence in building corporate culture How leadership can direct a company toward success

Section 1402(a)(1) exclusions from the definition of self-employment income Application of the SE tax to members of limited liability companies Taking a self-employed owner's health insurance deductions against self-employment tax How using the S corporation and the MMLLC treated as a partnership can help reduce an individual's exposure to self-employment tax How hiring a spouse and/or child helps reduce self-employment tax Differentiating between income treated as self- employment income and income that is not self-employment income

Why model codes of ethics fail The science behind organizations "Ethical DNA" Understanding the psychology behind "Tone at the Top" The interaction between critical thinking and ethics Breaking myths about motivation related to decision-making Ethical decision-making under pressure Are ethics and morals "fixed" or can we learn to improve

Active versus passive investing Taxable, tax-exempt, and deferred-tax bonds and the net investment income tax The tax treatment of bonds purchased at a discount or premium Bond swap and U.S. Savings Bond strategies

Preparation Compilations Reviews

What does value mean? Technical vs. fundamental analysis Intrinsic value Other discounted cash flow models Assumptions in the Gordon Growth Model Valuations using free cash flows Residual income model Enterprise value Value in mergers and acquisitions Small business valuations and discounts Advanced valuation models

Each week’s topics will change based on the most critical issues affecting financial professionals

Communicating financial results The role of the accountant in communication The challenges accountants face in communication Creating better awareness of a company’s financials Behavioral biases of stakeholders Tips for staying on-point in communication Case study

How a partner’s outside basis and capital account differ Reconciling Schedule M-2 Form 1065 with Partnership K-1 Schedule L IRS requirement to report partner tax basis on the transactional approach Implications if a capital account is negative Deficit restoration accounts and qualified income offsets Modified outside basis method and modified previously taxed capital method Determining a partner’s beginning capital account  Beginning capital account for partnerships and partners consistently reporting on the tax basis The two types of adjustments under 754 and how 743 and 734 require different capital account presentations

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

Factors business owners should take into account when choosing a retirement plan SIMPLE plans Simplified employee pension plans 401(k) plans Defined benefit plans Ensuring eligible employees are covered Employees’ impact on choice of plan Ongoing compliance requirements Establishing a plan after the tax year end Changes to safe harbor 401(k) plans Pooled employer plans Defined benefit plans and cash balance plans

Why Roth-related Rules of Thumb can be flawed Questions you can use to evaluate recommendations SECURE 2.0 changes related to Roth IRA / Roth 401k Backdoor and Mega-Backdoor Roth

President Trump’s promise to restore full bonus depreciation effective January 20, 2025 Bonus and Section 179 depreciation rules for 2025 2025 legislative changes that could extend the TCJA depreciation changes for many years or even make them permanent Possible return of 100% bonus depreciation What will the depreciation rules be in 2026 and beyond if the TCJA depreciation rules are not extended beyond 2025 Section 179 expensing rules for 2025 and beyond, including how Section 179 applies to business vehicles 2025 rules for vehicle depreciation