CPE Catalog & Events

Estate Planning Estate & Gift Taxes Plans, Devices & Techniques

Environmental, Social and Governance (ESG)

Legislative history American Jobs Creation Act of 2004 and changes to IRC Section 6159 Comprehensive coverage of the three main types of OIC Doubts as to collectability (DATC) Doubts as to liability (DATL) Effective tax administration (ETA) Hybrid of DATC Detailed walk-through of the process and key terms Practical solutions and success rates Various scams

When is the auditor required to follow the Yellow Book (aka 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

Gain exclusion and tax-free reorganization planning Gain exclusion with sales of C corporation stock; Section 1202 Deferral of gain with installment reporting Gain planning with partnerships Basis planning; basis step-up at death, gifts of interests to family Restructuring the business entity; C vs. S corporation, partnerships, LLCs Real estate planning; retention vs sales, like-kind exchanges Employee stock ownership plans; special tax incentives Employee benefit planning with ownership change Taxes other than the federal income tax; state tax, estate, gift and generation-skipping taxes, and property taxes Prospects for tax law change

Overview of common investment types Typical audit risks and related audit procedures Alternative Investments Fair value disclosure, including applying the fair value hierarchy

Explain typical audit risks and special considerations related to cash and cash equivalents Identify the risk of fraud related to cash and cash equivalents Describe designing a detailed audit plan, linking assessed risk to planned procedures Techniques used to perform the audit procedures associated with auditing cash and cash equivalents Obtaining evidence related to cash and cash equivalents Case study and test yourself questions related to auditing cash and cash equivalents

Technology trends and hot topics Fair value concepts Accounting for business combinations Asset impairment accounting

Scope and overview of ASC 326 Applying ASC 326 and the CECL model Transitioning to ASC 326 Presentation and disclosure requirements of ASC 326 Auditing accounting estimates Key changes to auditing estimates due to the issuance of ASC 326

Topic 606, Revenue from Contracts with Customers, including recently issued ASUs impacting Topic 606 The FASB's new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance, including presentation and disclosure requirements Performing an effective risk assessment related to revenue Common internal controls and substantive audit procedures related to revenue

The fair value measurement process Derivative and hedge accounting under ASC 815 Accounting and auditing considerations related to the use of the equity method of accounting under ASC 323 Accounting and auditing considerations related to investments in cryptocurrency and digital assets

Elements of inventory cost and full-absorption costing Valuation methodologies, including LIFO, FIFO, weighted average, and specific identification Obsolescence reserves Retail inventory valuation basics Physical inventory observation approach refresher Accounting issues related to consigned inventory Risk associated with and steps performed in auditing of inventories.

ASU No. 2016-02, Leases (Topic 842) Overall lease accounting guidance for both lessees and lessors Detailed review of accounting by lessees Transition guidance Other operational issues Control and risk considerations related to auditing leases Common audit procedures related to auditing leases and the adoption of ASC 842

Why customer service is not just having nice people; it is truly serving the customer Analysis of the value of the customer to compare it to various costs creating an ROI How to develop a compliance program that adds value to the customer A hard look at several companies and industries that have mastered the dual objectives How COVID-19 has affected compliance and customer service

Evolving accounting landscape Data complexity in accounting and tax Value-added billing Artificial Intelligence Shifting client expectations Navigating regulatory uncertainty The impact of accountants on society Embracing change and innovation Pipeline challenges

Coverage of the Inflation Reduction Act of 2022 Single-member limited liability companies as an alternative to subsidiaries Cancellation of indebtedness: rules and regulations How the IRS views members or partners for Social Security purposes Special problems when forming an LLC Debt issues and problems in structuring LLCs and LLPs, including loan guarantee issues, recourse and nonrecourse debt, the at-risk basis rules, and new regulations restricting bottom dollar guarantees Distributions: is it just a disguised sale? New regulations eliminate certain tax-deferred leveraged partnership transactions Death or retirement of a member or partner -- Understanding the alternatives Step-up in basis issues -- How to make the computations and elections Property transactions between the LLC/LLP and its members or partners -- Inbound and outbound transactions: what to do with built-in gain or loss property Partnership losses: when are they deductible? See, in particular, TCJA and CARES override Material participation rules for LLC members and limited partners: how they affect passive loss issues Continuation and termination of an LLC/partnership in the context of a merger or acquisition Sales of an LLC Interest -- holding period, and hot asset issues Impact of the tax on investment income on the sale of an interest in a partnership or LLC Repeal of technical termination of partnership provision

Final regulations on eligible terminated S corporations (ETSCs) Cases, rulings, and tax law changes affecting S corporations Compensation planning in S corporations, including limitations in a family-controlled business; self-employment tax issues, including IRS efforts to address underreporting of S corporation officer compensation Use of redemptions: still some advantages Planning for the liquidation of an S corporation Tax issues for family ownership of S corporation stock Impact of the tax on net investment income on sales of S corporation stock Stock basis: Loss limitations, AAA, and distribution issues in depth Debt basis: what the regulations on back-to-back loans mean to investors Estate planning for S corporation shareholders, including buy-sell agreements, QSubs, ESBTs, and uses of life insurance Built-in gains: the 5-year recognition period S corporation structuring: one class of stock Methods of accounting Legislation on mortgage interest reporting, basis, statute of limitations, and tax return due dates

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

Key concepts of trusts, including recent trends; best practices; jurisdiction; and ways to avoid pitfalls Decanting Federal estate tax exemption and remaining relevance of trusts Irrevocable life insurance trusts The role of family dynamics Choice of trustee and other fiduciaries State trust-friendly considerations Charitable trusts Delaware Statutory Trusts Powers of attorney Pet Trusts; the emerging necessities State, county, and local issues Portability QTIP issues Creditor considerations Potential IRA problems Problems with re-titling assets

What is ransomware? The growing threat of ransomware statistics Remote working and COVID-19 Ransomware infection process Incident response protocol Business considerations Legal considerations Breach notification obligations Steps to protect against malware Tabletop exercise