CPE Catalog & Events

The elements of fraud and the Fraud Triangle Theory Types of fraud with a focus on management fraud Best practices in fraud detection and deterrence

Auditing and reporting requirements to meet when the client selects the ERISA Section 103(a)(3)(C) limited scope audit option AICPA AU-C 703 Forming An Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA AICPA Audit and Accounting Guide ' Employee Benefit Plans ' Testing participant data

Roth IRA: The right choice? Income tax treatment of distributions from retirement plans of all types Laws, regulations and IRS rulings concerning plan distributions Avoiding penalty on distributions that happen too early or too late Beneficiary choices - eligible or not? Self-directed IRA investment problems

Lessons learned (and lessons remaining) from the implementation of FASB ASC 842, Leases and ASU No. 2020-07 related to contributions of nonfinancial assets Solving contribution conundrums (e.g., conditional contributions, restricted contributions, contributed services and etc.) Additional issues in not-for-profit financial reporting

Individual tax developments coming from Congress, the Treasury Department, the courts and academe. Time-sensitive topics from the past 30 days.

Taxes Form 1099 W9 Vendors

An objective look at retirement plan selection Pros and cons of different plan types

The impact of recent legislation on the construction industry How to qualify for the "small contractor exemption" and its advantages to the taxpayer Options available to the "small" contractor regarding taxation of long-term contracts How the choice of entity impacts taxation of contractors How AMT impacts the construction industry IRC 460 and "large" contractors How "uninstalled materials" impact taxation of contractors How the "look-back" rules impact contractors How the "10 percent method" can allow certain contractors to defer recognizing taxable income Critical tax planning strategies for contractors

Examine real-world misappropriations of cash, check frauds, vendor scams, credit card abuse, grant frauds, benefit schemes, inventory thefts and payroll frauds Consider and develop controls to stop fraud Tailor controls to the size and fit of the government or nonprofit

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 SECURE Act 2.0 Understanding the environment: what's new, what's expired or expiring and what's likely to change Reading a tax return for developing client-specific tax strategies Will there be more changes in the individual tax laws? Changes to the lifetime estate tax exemption in light of proposed regulations The net investment income tax: planning for compliance Family income-splitting strategies that need to be considered Income tax issues: impact on timing of other income Selling a principal residence Two principal residences at the same time Use of life insurance to protect families Using Roth IRAs and Roth contribution programs to best advantage Conversions: do they still make sense? Taking distributions: matching timing to client requirements Qualified plan contributions to reduce current income and Social Security tax: implications for business owners and self-employed Social Security solvency issues Incentive Stock Options and Employee Stock Purchase Plan considerations What to do about itemized deductions Trans-generational planning: conversions, income and gain-splitting Tax benefits of HSAs and other tax-advantaged accounts Recent case law, as applicable Identifying tax opportunities: reviewing the prior-year return to develop a plan for the future Planning for middle-income taxpayers: financial planning for the young, the working and those approaching or in retirement

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

Payroll tax requirements for wages, including wages subject to the .9 percent tax, employee benefits and reimbursements, nonqualified deferred compensation, stock options and tips Fringe benefits issues, such as health insurance, life insurance, cafeteria plan benefits, accountable and non-accountable plans, standard mileage rates and per diem rates Special issues -- Using a common paymaster, how to file W-2s after a takeover, merger, or acquisition and state and local tax withholding Statutory employees, independent contractors and possible changes to 530 relief Penalties -- Who is a responsible person? Expenses and gross-up calculations Pension issues and payroll taxes including SIMPLE plans and 401(k) and pension distributions The Electronic Federal Tax Payment System (EFTPS) Forms I-9, W-9, W-2, 1099, 1099-NEC, SS-8 and940 Understanding payroll tax responsibilities in the gig economy

An emphasis on newly enacted tax legislation affecting IRAs., including the NEW final required minimum distribution (RMD) regulations Contribution limits to and tax treatment of distributions from Traditional, Roth, SEP and SIMPLE IRAs Deductible phase-out limits for Traditional IRA contributions for taxpayers who are active participants in qualified retirement plans Roth IRA contribution phase-out limits, as well as tax-free qualified distributions Planning opportunities for conversions to ROTH IRAs Rollover rules to/from different retirement accounts and the one-rollover-per-year limitation The different options of receiving IRA distributions before age 59 « and avoiding the 10% early distribution penalty (including substantially equal periodic payments) The required minimum distribution (RMD) rules from IRAs needed to avoid the 50% penalty after the account owner turns age 72 or dies The tax ramifications of spouse and non-spouse beneficiaries and how this affects the RMD calculation after the account owner's death Overview of health savings account (HSA) eligibility rules, contribution limits and distribution rules

Underlying concepts of internal control Defining where and why controls, policies and procedures are needed Legacy control measures that are still important for businesses today Creating control measures that address the use and protection of technology

Individual losses Determining when a loss is personal vs a business or for-profit loss What happens if a client invested in a Ponzi scheme? What constitutes a realistic possibility of recovery? Timing issues for claiming losses

Review of sample returns with illustrations of most forms of gifts How to meet the adequate disclosure requirements Community property gifts vs. gift splitting, use of DSUEA from a pre-deceased spouse Electing in or out of GST allocations with indirect skips

Trends in the profession, including supplier changes Software products by service lines Innovation and automation tools Specific technology stacks to improve productivity and profitability

The key requirements, options and best practices seen in each of the basic financial statements Today's core accounting and reporting requirements related to contributions and how to effectively and efficiently apply them How to analyze and incorporate the needs of financial statement users into a not-for-profit's financial statements and disclosures

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 Bonus depreciation Section 174 Research and Experimental Expenditures New FinCEN reporting requirements in 2024 Advanced practice, reporting and other issues intertwined with advanced planning and discussion ideas