CPE Catalog & Events

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

Audit requirements for ERISA 103(a)(3)(C) audits An annual update of the changes affecting 401(k) plans Compliance issues associated with eligibility and enrollments, remittances, lack of oversight, compensation, vesting and other topics Best practices for engagement planning, internal controls, risk assessment and detailed testing Avoiding common mistakes while performing audit procedures Plan mergers and acquisitions Common audit reporting and disclosure issues

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 Effects of the CARES and Tax Relief Acts on trusts: 461(l) Excess Business Loss Limitation, NOL, 163(j) modifications, new employer credits Comprehensive DNI case study, with principal (cost and FMV) and income reconciliation Comprehensive trust and estate case studies, with filled-in forms

Key requirements, options and disclosures related to each of the basic financial statements The reporting of functional and natural expense information Requirements related to providing liquidity and availability of financial assets information Core not-for-profit requirements related to conditional and unconditional contributions, promises to give, contributed services, net assets, special events, the classification of expenses and more The impact of FASB ASC 842, Leases, on not-for-profits

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 and Premium Tax Credit Comprehensive coverage of the SECURE 2.0 Act, including: Expanding Enrollment in Retirement Plans, Increase in Age for Required Beginning Date for Mandatory Distributions and New Exceptions to Penalty-Free Withdrawal from Retirement Plans Timely coverage of breaking tax legislation New Form 1099-K reporting requirements Detailed analysis and examples of Sale of Passthrough Entity Interest and Net Investment Income Tax Bonus Depreciation Section 163(j) Section 174 Research and Experimental Expenditures Residency and Domicile Selling a principal residence, including tax planning strategies Virtual currency, including recent developments regarding NFTs New FinCEN reporting requirements in 2024 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

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

Reformatted financial statement details RFS impact on business operations Ten action items for immediate consideration Five cases

Major provisions of GAAP Codification Topic No. 230 Statement classification issues Reporting operating cash flows: Direct and indirect methods Preparing the statement: Workpaper techniques Useful cash flow ratios Bankruptcy prediction using the statement of cash flows

Reasonable compensation Fringe benefits for S corporation shareholders Built-in gains tax Excess passive income tax Notice 2020-75: PTE elections

Securing individual documents Protecting information resident in the Cloud Securing data stored on or accessed by mobile devices

An overview of the beginning of the process and documents for preliminary tax planning Recognizing the need for due diligence in acquisitions, including checklists of important points Deemed asset sales - 338 and 338(h)(10) The impact of the 197 amortizable intangibles regulations on the acquisition and disposition of a business Allocating purchase price for tax advantage Planning to avoid double taxation under the repeal of the General Utilities doctrine Special problems and opportunities when an S corporation is the buyer or seller Installment sale and interest issues Avoiding tax pitfalls and recognizing tax planning opportunities Unique issues in buying and selling LLC/partnership interests Impact of the net investment income tax (NIIT) and the 199A pass-through deduction on the tax due on the sale of a pass-through entity Individually owned goodwill

ASU No. 2016-02, Leases (Topic 842) Overall lease accounting guidance Lessor Accounting 101 Lessee Accounting 101 Detailed review of accounting by lessees and lessors Sale and leaseback transactions Transition guidance Other operational issues Recently issued updates to the lease accounting guidance FASB guidance on accounting for COVID-19-related rent concessions Feedback from the public company adoption of Topic 842

How to calculate a partner or S corporation shareholder's basis Form 7203 and an S corporation shareholder's basis The at risk basis rules and Form 6198 The passive activity loss limits The Section 461(l) loss rule The net operating loss limitation rules The Section 163(j) business interest limitation

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

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 and Premium Tax Credit Comprehensive coverage of the SECURE 2.0 Act, including: Expanding Enrollment in Retirement Plans, Increase in Age for Required Beginning Date for Mandatory Distributions and New Exceptions to Penalty-Free Withdrawal from Retirement Plans Timely coverage of breaking tax legislation New Form 1099-K reporting requirements Detailed analysis and examples of Sale of Passthrough Entity Interest and Net Investment Income Tax Residency and Domicile Selling a principal residence, including tax planning strategies Real Estate professional requirements Virtual currency, including recent developments regarding NFTs 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

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

Reporting requirements for Schedules K-2 and K-3 Capital account reporting requirements Schedule K-1 reporting for 743 adjustments Schedule K-1 reporting for 704 gains and losses Comprehensive case on partnership/partner application of the business interest deduction When to use "704(b) basis" for capital accounts versus "tax basis" Detailed rules of 704 for preventing the shifting of tax consequences among partners or members Unreasonable uses of the traditional & curative allocation methods Multiple layers of 704(c) allocations Treatment of recourse versus nonrecourse debt basis How to calculate basis limitations and its implication on each partner's own tax return How 179 limitations affect partnership/LLC basis Regulations for handling basis step-ups under 754 elections and mandatory adjustments under 743 and 734 for partnerships who have NOT made the 754 election Subsequent contributions of property with 754 adjusted basis to another partnership or corporation Capital account adjustments in connection with admission of new member Special allocations require "substantial economic effect"; what are the requirements? LLCs and self-employment tax to the members Distributions -- current or liquidating, cash or property including the substituted basis rule Termination/liquidation of an LLC

The key requirements and responsibilities related to the schedule of expenditures of federal awards and the determination of major programs The processes of determining the direct and material compliance requirements, obtaining an understanding of and testing the related internal controls and performing compliance testing The development and reporting of findings in the schedule of findings and questioned costs Additional performance and reporting responsibilities

Comprehensive coverage of the Inflation Reduction Act, including: The Corporate Alternative Minimum Tax, The Clean Vehicle Credit, Credit for Previously Owned Clean Vehicles and Credit for Qualified Commercial Clean Vehicles Comprehensive coverage of the SECURE 2.0 Act with a focus on provisions applicable to employers Retirements and redemptions: considerations for partnerships and S corporations Timely coverage of breaking tax legislation Schedules K-2 and K-3 reporting requirements, including the 2022 domestic filing exception and Form 1116 exemption Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations, with examples of how to calculate stock basis Overview of the economics and tax consequences of crowdfunding campaigns 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 New Form 1099-K reporting requirements Bonus depreciation Section 163(j) Section 174 Research & Experimental Expenditures New FinCEN reporting requirements in 2024 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 Special basis adjustments, including comprehensive examples