CPE Catalog & Events

Ethical duty to safeguard employee, client, and litigant data Common threats, including phishing, ransomware, and bad password management Security management of business and personal electronic devices Best practices for creating and securing passwords Insight into how our personal information is exploited in our daily lives

Detailed rules governing basis in the shareholder’s debt and stock AAA Built-in gains incurred from the sale of assets Redemptions and liquidations Compensation planning for shareholders, including planning strategies under the SECURE Act Tax Cuts and Jobs Act of 2017 and the various stimulus acts, as applicable

When is the auditor required to follow the Yellow Book (a.k.a., Government Auditing Standards, or GAGAS)? How the Yellow Book requirements relate to generally accepted auditing standards and the single audit requirements The different types of Yellow Book audit and attestation engagements that auditors may be called upon to perform The Yellow Book standards related to the qualifications of the auditor (i.e., requirements related to independence, CPE, peer review, and more) The Yellow Book requirements related to the performance of and reporting on a financial audit The Yellow Book requirements related to attestation engagements (i.e., examinations, reviews, and agreed-upon procedures engagements) and performance audits

Annual update of the changes affecting 401(k) plans Compliance issues associated with eligibility and enrollments, remittances, lack of oversight, compensation, vesting, etc. Best practices for engagement planning, internal controls, risk assessment, and detailed testing How to avoid common mistakes made while performing audit procedures Plan mergers and acquisitions Common audit reporting and disclosure issues The new audit standard for employee benefit plans

Tax practitioner “horror stories” that illustrate what tax practitioners should try to avoid at all costs Avoiding malpractice lawsuits brought against tax practitioners

Coverage of the Inflation Reduction Act of 2022 Preparation by hand 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 many adjustments in reconciling book income to tax income, and items preparation staff may look for on all business returns. Learn to self-review New tax-planning strategies for depreciation deductions, including changes to §179 and first-year depreciation (Section 168(k)) as a result of recent tax legislation Methods of accounting -- Application and choices 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 many common business deductions; which are deductible and which are M-1 items? How to practically handle uniform capitalization and inventory accounting for a small manufacturing concern And much more

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 and transiional filing relief Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations Donor Advised Funds Residency and Domicile Selling a principal residence, including tax planning strategies Real Estate professional requirements An overview of  virtual currency, including recent developments The Independent Contractor vs. Employee Conundrum continues State of the IRS Review of pertinent cases and rulings affecting taxpayers 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

Comprehensive coverage of the Inflation Reduction Act of 2022 and the SECURE Act 2.0 Changes to the lifetime estate tax exemption in light of proposed regulations More than 20 documents that should be reviewed that are neither a will nor trust Provisions you need in a will Trusts and other arrangements for children Durable powers of attorney for healthcare and for financial matters Realistic retirement goals Developments relative to estate tax, and the implications for planning

The 20 common law factors in a worker classification audit that are used to distinguish an employee from an independent contractor How disgruntled independent contractors can use IRS Form 8919 against a former employer When and how to use §530 as a defense in worker classification audits What is "industry practice" for §530 purposes Common sense steps that will avoid the recharacterization of workers treated as independent contractors to employees The IRS’s Voluntary Classification Settlement Program — advantages and disadvantages

Explanation of legislation enacted in 2023 along with reminders for 2023 from legislation of recent years California tax law changes Income inclusions, exclusions and deductions Property transaction updates, including for cryptocurrencies and other digital assets Passive activities, hobbies and other losses Guidance and planning on energy credits added or modified by the Inflation Reduction Act Significant IRS developments affecting practice and compliance procedures California major developments for individuals and conformity to federal law changes for 2023 Filing status, credits and retirement plan developments Expired and expiring provisions Inflation adjustments for 2024 Due diligence and planning reminders

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   

Implementing the new Yellow Book Developing issues related to performing single audits under the OMB’s Uniform Guidance for Federal Awards Key AICPA developments affecting audits of governments and nonprofits including SAS No. 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements, and SAS No. 135, Omnibus Statement on Auditing Standards--2019 Recent GASB activities directed towards state and local governments with an emphasis on the implementation of GASB No. 84, Fiduciary Activities and GASB No. 87, Leases Prepare 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) Develop a deeper understanding of the effects that ASU No. 2016-02, Leases, will have on nonprofits

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

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 Overview of the economics and tax consequences of crowdfunding campaigns  The Centralized Audit Regime Selected Practice and Reporting Issues: What’s new? A review of recent cases, rulings, and tax law changes affecting S corporations, partnerships, limited liability companies, and limited liability partnerships Choice of entity issues Partnership Agreements - qualified income offset and unlimited deficit restoration clauses Employee vs independent contractor considerations that companies should be aware of A review of like-kind exchange transactions under §1031 State and local taxes: pass-through entity workarounds Carried interest Accounting method reform Special basis adjustments, including comprehensive examples Impact of the net investment income tax on the owners of pass-through entities Review of the most important business tax cases, revenue rulings, PLRs, etc.

Typical provisions in state statutes regarding domicile and residency In depth analysis of domicile and residency definitions Issues regarding one’s permanent abode Analysis of jurisdiction where taxpayer has the greatest connections Detailed discussion of criteria used to establish domicile and residency

Areas of "default" Arizona conformity with the Internal Revenue Code under current statutes. Understand the specific rules related to additions and subtractions for Arizona income taxes. Understanding the unique position of S Corporations for Arizona income taxes. Dealing with credit issues, including the credit for taxes paid to other states and the special situation for the credit involving Arizona, California, Indiana, Oregon and Virginia.

Timely coverage of breaking tax legislation Review an error-prone "staff-prepared" Form 1040 from client-provided information. Were do you start? Get to know your client and ask the questions 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” 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

Compare and contrast the tax consequences, opportunities, and pitfalls of operating a business as a partnership, LLC, or S corporation  Reporting Requirements for Schedules K-2 and K-3  Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations  Gain a comprehensive understanding of income tax laws for S corporations from eligibility and election to tax return preparation, stock basis, and loss limitation issues  Recognize and properly handle special pass-through items of income and expense  Accurately prepare S corporation returns and reconcile book income to taxable income  Accurately prepare partnership returns and reconcile book income to taxable income  What the transactional method entails and how to report partners’ capital accounts under this method  Properly handle the tax treatment of distributions to shareholders, partners, or members  Understand the special restrictions and sanctions for tax year-end selection  Review the basics of partnership and LLC formation and basis calculation  Self-employment tax or NOT, for each entity  Filling in K-1s correctly for S corporations, partnerships, and LLCs. Major changes in K-1 reporting on both partnership and S corporation forms and content  The most frequently used forms and schedules, including some form “oddities” 

Planning opportunities in the tax formula Different types of planning Frequently-used planning techniques Qualitative and quantitative considerations The connection between tax planning and other financial planning areas, such as retirement, investment, insuranceand estate planning Looking to the past, presentand future as we plan

Reduce taxable income Save more for retirement Tax-free retirement funds Flexible funding