CPE Catalog & Events

How is fraud detected The role of external auditors in finding fraud Revenue recognition issues Corrupt management Data mining Physical and biometric controls

Recently issued FASB Accounting Standards Updates, including those that will become effective during audit engagements conducted in 2024 Recently issued Statements on Auditing Standards and other AICPA activity Recently issued Statements on Standards for Accounting and Review Services

Broadly applicable ASU effective in 2024 and beyond Significant recent SAS Tax-basis financial statements Statements on Quality Management Standards

Intestate succession and probate administration Holding title to assets Lifetime asset transfers and testamentary asset transfer planning Structures to avoid or minimize transfer taxes Living trusts, including A-B and A-B-C, life insurance trusts, terminating irrevocable trusts, use of trust protectors, trust administration during incapacity and post-mortem

Review of recent federal legislation and administrative rulings Review of recent modifications to tax forms Review of small business tax law and administrative update changes Review of retirement plan changes Overall review of tax practice and procedures

Comprehensive coverage of the Inflation Reduction Act, including: The Corporate Alternative Minimum Tax, The Clean Vehicle Credit, Credit for Previously Owned Clean Vehicles, Credit for Qualified Commercial Clean Vehicles, §45L New Energy Efficient Home Credit, Elective Payment, Transferability, and Prevailing Wage and Apprenticeship Requirements Principles and considerations for nonresident withholding, composite payments, and passthrough entity taxes Comprehensive coverage of the SECURE 2.0 Act with a focus on provisions applicable to employers Thinking beyond §163(j) -- Interest Allocation Rules, Original Issue Discount, Applicable High Yield Discount Obligations, Convertible Corporate Debt Instruments, and Debt-Financed Distributions  Retirements and redemptions: considerations for partnerships and S corporations Timely coverage of breaking tax legislation Selected Practice and Reporting Issues: What’s new? A review of recent cases and tax law changes and IRS guidance affecting S corporations, partnerships, limited liability companies, and limited liability partnerships Form 1099-K reporting requirements Bonus depreciation  Section 174 Research & Experimental Expenditures -- new guidance under Notice 2023-63 and Notice 2024-12 FinCEN reporting requirements  A review of like-kind exchange transactions under §1031

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

Relevant sections of SSARS No. 21, Clarification and Recodification 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. 26, Quality Management for an Engagement Conducted in Accordance With Statements on Standards for Accounting and Review Services Proposed changes to the SSARS guidance Comprehensive sample engagement work programs for preparation and compilation engagements Prescribed form, specified line item, pro forma, and other engagement variations Complete illustrations of relevant engagement letters, reporting and other required communications for preparation and compilation engagements

The communication process and barriers that get in the way Techniques for overcoming barriers Understanding and self-assessment of each component of the communication process Gaining skills to listen more effectively, especially in stressful situations with heightened emotions Action plan to apply techniques in the workplace for communication success

Changes to the lifetime estate tax exemption in light of proposed regulations SECURE 2.0 updates 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

-Review of ethics standards, both extant and proposed, for Arizona CPAs including the AICPA Code of Professional Conduct and the Arizona Accountancy Statutes and Administrative Code. - Review recent updates to the AICPA Code of Professional Conduct and Arizona Accountancy laws. - Provide practical examples of best practices in applying the laws pertaining to Professional Ethics. - Identify the latest ethics guidance to illustrate "hot topics" in professional ethics.

Final Rule - Employee or Independent Contractor Classification Under the FLSA: the multifactor “economic reality” test; What analysis guides whether a worker is an employee or independent contractor under this final rule? Can a worker voluntarily waive employee status and choose to be classified as an independent contractor? Are any of the economic reality factors adopted in this rule more important than others when evaluating a worker’s employment status? How does the final rule explain “extent to which the work performed is an integral part of the employer’s business?” The Federal Trade Commission’s Decision on Non-compete Agreements: impact on new and existing non-competes; treatment and definitional terms for senior executives; definition of a non-compete clause; definition of a “worker” New Overtime Rules: exemptions from minimum wage and overtime pay requirements for executive, administrative, professional, outside sales, and computer employees; increases in the standard level and the highly compensated employee total annual compensation threshold; new mechanism allowing for the timely and efficient updating of the salary and compensation thresholds

Key issues related to not-for-profit financial reporting (e.g., presenting a measure of operations, various disclosures, concentrations of risk, and etc.) Key challenges encountered in not-for-profit accounting (e.g., contributed services, restricted contributions, conditional contributions, membership dues, noncash contributions, and etc.)   Additional issues in not-for-profit financial reporting

Review of recent federal legislation and administrative rulings Review of recent modifications to tax forms Review of small business tax law and administrative update changes Review of retirement plan changes Overall review of tax practice and procedures

Financial statements, disclosures and presentations Review of two Annual Financial Reports (IFRS and U.S. GAAP)

The downside of traditional retirement asset accumulation strategies Threats to a successful retirement Holistic retirement planning: how personal goals integrate with tax, estate, risk and investment management principles Matching investment assets with the appropriate retirement plan and distribution strategy Review the provisions of the SECURE Acts and how they will impact retirement planning

New issues for the current year tax return and §199A Installment sales — understanding the complicated issues Form 8582: Passive losses with carryovers — Complicated case with filled-in forms Puts, calls, straddling, and unusual investments — Understanding the tax laws and reporting them correctly on the tax return Capital gain and loss issues — The problem with proper reporting of installment sales issues; capital gains and losses; when is a stock worthless; and much more... At-risk rules: What a return preparer really needs to know Passive loss issues — You cannot just trust your software. What to watch out for and the questions you need your clients to answer in order to do it right! Incentive and nonqualified stock options — Reporting; key strategies for planning; dealing with the alternative minimum tax Alternative minimum tax — Understanding it; planning strategies to avoid it; using the minimum tax credit; explaining it to a client Form 6251: Detailed calculation example

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 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   

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