CPE Catalog & Events

Private foundation excise taxes, generally Form 990-PF, including mandatory e-filing requirements The fair market value of the foundation's assets Income distribution requirements Self-dealing and transactions with disqualified persons Foreign grant-making and grant-making to private foundations and non-charitable entities in the US Excess business holdings Program-related investments Unrelated business income tax

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

FASB ASC 842, Leases All recently released updates to ASC 842, Leases

Identification of facts that could cause the imposition of the built-in gain tax The calculation of the tax on "net recognized built-in gain" during the "recognition period" The meaning of "current mandatory double tax" The aggregate limitation based on "net unrealized built-in gain" The limitation based on the "gain" that existed at conversion The importance of valuation analysis at conversion The taxable income limitation Using existing corporate net operating losses and tax credits Tax planning ideas and strategies to minimize or avoid the tax on the built-in gain

Notice 2020-75: PTE elections What is a 754 election? What if a 754 election is not in effect? Tax implications of a partnership interest sale on the seller Look-through provisions

Timely coverage of breaking tax legislation A tour of the most recent changes starting from gross income and ending with alternative minimum tax (AMT) and selected credits including the latest IRS guidance on recent tax legislation Hot, hidden, or miscellaneous developments affecting the upcoming tax season Review of new laws and changes in old forms to provide a familiarity for the upcoming tax season Key new tax and practice developments and how they impact the current-year tax forms for individuals

Business writing Planning writing projects Project management Proposal writing

S corporation earnings layers Observations on earnings layers S corporation basis calculation IRC 351 transactions Four loss tiers Appreciated property distributions

Minimum distribution requirement changes by the SECURE Act 2.0 Latest guidance issued by the IRS related to required minimum distributions The calculation of required minimum distributions using the Uniform Life Table Required minimum distributions from multiple accounts New 401(k) rules of SECURE Act 2.0 Inherited employer retirement accounts and IRAs: Changes to spousal and non-spousal beneficiary distribution options and stretch IRAs under the SECURE Act Required minimum distributions in the year of death Roth conversions for estate planning and avoiding required minimum distributions Timing of distributions for maximum tax-free compounding Section 529 rollovers to Roth accounts under SECURE Act 2.0 Qualified charitable distributions from IRAs and the relationship between deductible IRAs and QCDs under the new anti-abuse rules. Includes SECURE Act 2.0 rollovers to CRUTs and CRATs Taxation of distributions Penalties for missed required minimum distributions and reasonable cause for abatement of penalties. Includes SECURE Act 2.0 changes

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 can't 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 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

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 of 2022 and The SECURE Act 2.0 Preparation of various Form 1040 individual tax returns and schedules; provided answers include "filled-in" forms Coverage of Form 7203 Coverage of 199A qualified business income, its calculation, limitations and examples Dividends and interest - Ordinary, return of capital and capital gain distribution dividends; tax-exempt interest, original issue discount, etc. Security transactions - From Form 1099-B to Form 8949 to Schedule D, plus mutual fund sales and related basis issues Self-employed person issues Schedule C deductions including depreciation Sale and exchange of property - Understanding Form 4797 and depreciation recapture; capital gains A working understanding of passive losses - How to handle rental property and how the passive loss rules flow to the tax forms Itemized deductions - A thorough understanding of what's deductible and what's not Interest deductions - Limitations and timing problems Charitable contributions substituting for taxes, IRS says - No! Retirement contributions and education credits and deductions Tax computations - The Kiddie Tax, AMT, regular tax, tax credits Individual problems illustrated by form preparation for various items, with numerous "practice tips" Impact of recent legislation and forms changes on the 1040

Schedules K-2 and K-3 and filing exceptions Form 7203 IRS Tax Pro Account IRS modernization initiatives Information Returns Intake System (IRIS) Identity Theft warnings IRS guidance for the marijuana industry "Recycled" Form 1099-NEC to report nonemployee compensation Form 1065 steps for reporting capital Centralized audit regime; late filing penalties and small partnership relief "Substance over Form" argument of shareholder loans Advanced study of "At-Risk" loans Employer W-2 correction requests White House 2024 Budget Points Don't get caught watching the paint dry -- What is hot and new What is terminating S corporations today? Special allocation issues of 704 Final regulations for allocating depreciation recapture to partners and members of LLCs

Analysis of requirements for revenue recognition under ASC 606 Discussion of the requirements for auditing revenue transactions Analysis of internal control and fraud risk aspects Identification of high-risk areas of revenue recognition Suggested procedures for identified risks

Accounting standard updates (ASUs) FASB projects Audit service issues ARSC initiatives, preparation, compilation and review updates and initiatives AICPA activities and profession update

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

Planning aspects Legal theories Protecting assets Planning before and after lawsuits Using business entities, including domestic and foreign corporations, LLCs and LPs Planning for married couples and community property Picking correct entities and jurisdictions Domestic and foreign asset protection trusts

Major 2024 tax form changes as they relate to individual taxpayers Key new tax developments as they relate to 2024 and how they impact the 2024 tax forms

Practical opportunities to leverage artificial intelligence and automation in business settings Potential risks associated with using AI and automation, including inherent ethical issues Pros and cons associated with tools such as ChatGPT, Bard, Power Automate and Zapier