CPE Catalog & Events

Classifying receipts between "income" and "corpus" under the Uniform Principal an 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. Comprehensive DNI case study. with principal (cost and FMV) and income reconciliation. Comprehensive trust and estate case studies, with filled-in forms.

Timely coverage of breaking tax legislation, including the SECURE 2.0 Act and Inflation Reduction Act provisions applicable to individuals. Changes to the lifetime estate tax exemption in light of proposed regulations. Considerations when selling a principal residence. Tax benefits of HSAs. An overview of the mechanics and practical considerations of Donor Advised Funds. Virtual currency. including new Notices 2023-34 and 2023-27. The best new income tax and estate-planning ideas. The changing Social Security landscape: long-term solvency issues and what it means for retirement planning. Creative charitable giving strategies. . Financial planning strategies. Maximizing retirement plan benefits. Using intentionally defective grantor trusts. Miscellaneous tax-planning techniques that can add up to significant tax savings. How to use the whole family for tax savings. Life insurance. Up-to-the-minute ideas reflecting new tax law changes in cases. regulations. and rulings.

Key fraud risks impacting businesses today. Examples of fraud and the monetary impact on victims. How to create, implement, and assess technology-based internal controls to reduce the probability of becoming a fraud victim.

Overview of the fringe benefit planning process. Understanding the needs of business owners and employees. Options available under IRC Schedule 132 fringe benefit plans. Cafeteria plans: when to use them. Tax rules governing timing of income and deductions in cash compensation planning. Tax implications of dependent care and educational assistance plans. Flexible spending account plans: design and implementation. Design features of group term life insurance plans. Medical savings accounts: regulations and usage. Various options for financing retiree medical benefits. Comparison of health care benefits under an insured plan versus an HMO. In-depth overview of major ERISA reporting and disclosure requirements. Understanding IRC common control rules. Overview of age and sex discrimination rules.

The price of fraud - ACFE's Report to the Nations and ancillary costs. The current economy - microeconomics and analysis. COSO internal control framework, particularly Principle 1 (integrity/ethics) and Principle 8 (fraud risk assessments). Power of morale - shrinking the fraud triangle and employee motivation. Deviant workplace behavior. Historic schemes. Why good folks go bad - interesting findings and red flags. Combating fraud with controls. Controls used by fraud victim organizations and suggestions for better implementation. Fraud's new frontier. Corporate social, environmental, Governance, and equity/inclusion reports and audits.

Understanding the sales function and sales team. Differing backgrounds, expectations, and motivations. Developing strong relationships. How to ascertain what Sales really needs. Effective incentive plans that are understood by the sales team. Tools and information for how CFOs can transition from bean counters to bean growers. Becoming the multi-skilled CFO companies are looking for. How do you utilize your key relationships and your team to fill the gaps and make sure nothing slips through? Defining sustainability. Defining and measuring environmental, social and governance metrics (ESG). Reporting on ESG metrics and your organization's efforts.

Most recent individual and business income tax legislation passed to date. Major tax changes to corporations, partnerships and/or individuals and any changes to the income tax forms and other related schedules. Numerous business income tax provisions. Individual and business income tax rates (e.g., income tax rates, capital gain tax rates, self-employment tax and alternative minimum tax (AMT), 3.8% net investment income tax). Other individual income tax topics and changes to filing status, personal exemptions, itemized deductions, exclusions from income, adjustments to income and income tax credits (e.g., child tax credit and dependent care credit). The NEW final required minimum distribution (RMD) regulations. Other important IRS audit areas such as basis and at-risk limitations for S shareholders and partners, passive activity losses and real estate professionals and self-employment taxes.

Best practices for creating and working with Excel workbooks. Effectively using Excel functions when creating formulas. The importance of PivotTables in modern reporting environments. Best practices for formatting your workbooks.

Comprehensive coverage of the Inflation Reduction Act. 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 in 2023. Section 163(j) in 2023. 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 Schedule 1031. State and local taxes: pass-through entity workarounds. Special basis adjustments. including comprehensive examples.

Reviews of portions of error-prone "staff-prepared" Forms 1120S and 1065 from client-provided information. What are common errors preparers make and what are the areas generating malpractice claims? Initial administrative groundwork. The importance of Schedule M-1. Reporting requirements for Schedules K-2 and K-3. Don't fall prey to reporting oddities. When can seemingly separately stated Schedule K items actually be trade or business items to report on Forms 1120S or 1065. page 1? Form 1120S - What exactly is terminating S elections today? How do I recognize a second class of stock? Maintaining shareholder basis schedules; beware of final IRS regulations regarding "open debt"; the default method of calculating basis versus the election under Schedule 1367; can an S corporation distribute earnings and profits from C corporation years? Form 1065 - Why use Schedule 704(b) to maintain capital accounts; Schedule 704(c) regulations for preventing the shifting of tax consequences among partners or members; allocating recourse. Nonrecourse, and qualified nonrecourse debt; a review of Schedule 754 step-up in basis rules. Multiple checklists of efficient procedures to identify potential issues on an 1120S or 1065 tax return.

How to prepare a federal estate tax return (Form 706). How to prepare a federal gift tax return (Form 709). How to comply with "Portability". Issues involved in the preparation of the decedent's final federal income tax return (Form 1040). Various postmortem estate planning issues involved in the preparation of the above-mentioned tax returns. Complete understanding of estate and gift taxation.

Introduction to single audits. Preparation of the schedule of expenditures of federal awards and determining major programs. Understanding, assessing, and testing internal control. Testing compliance with federal statutes and regulations and applicable compliance requirements. Auditor reporting in a Uniform Guidance compliance audit. Program-specific audits. Administrative requirements and cost principles in a single audit.

Five management superpowers. The five key management strategies and skills that every successful manager has. How feedback becomes effective. How to develop listening skills. Accepting perfectionists: understanding and adapting. Review actions to take so that perfectionists may learn how to transform their behaviors. Based on research and proven methods, we will discuss tactics that may help. The wonderful attributes of perfectionists. The not so wonderful attributes of perfectionists. Why you should be a "learnaholic". Successful people do know one secret that keeps them on top? The answer is - they are lifelong learners. Learning styles:. What they are, why they matter, and what your unique learning style is. The seven essential elements for lifelong learning success. Two daily habits that can make this lifestyle transition easier. A learning technique that works regardless of your personal learning style. "How-to" guide to starting your new life as a learn-a-holic. Advancing your role as a business leader. Knowing the numbers is a valued skill, but not nearly enough to make you a real business leader. We will discuss proven tactics to enhance those skills. Lessons from great leaders. Steps to becoming a better leader.

Contract accounting and revenue recognition from contracts with customers. Contractor financial statements. Working with a surety. Audit planning, procedures, and reporting. Long-term contracts.

Tax guide to exit planning. Partnership considerations: Section 754 elections and section 743. C to S corporation conversions. Recurring basis issues. At-risk basis rules and Form 6198. New developments relating to IRS audits. Status of audits for high-income and high-net-worth individuals. The 2023 Dirty Dozen. Residency and domicile. Crowdfunding: basic economics and related tax consequences. Choosing the right business entity.

Federal individual income tax provisions and tax forms/schedules that will affect the 2024 tax returns and 2025 tax projections with an emphasis on newly enacted income tax legislation, court cases, and IRS guidance. Discuss the most recent individual income tax legislation passed to date. Review numerous individual income tax provisions related to business (i.e., sole proprietors and owners in pass through entities). Cover issues related and any changes to the various taxes (i.e., income tax rates, capital gain tax rates, self-employment tax and alternative minimum tax (AMT), 3.8% net investment income tax), Brush up on other topics such as income filing status, personal exemptions, itemized deductions, exclusions from income, adjustments to income, rentals, passive activity rules and individual income tax credits (e.g., child tax credit and dependent care credit). Walk through the NEW final required minimum distribution (RMD) regulations. Look at any changes to the Form 1040 and other related schedules and forms.

Corporate performance management. Effective management accounting. Driver based budgeting. Business intelligence and data analytics.

Federal business income tax provisions and tax forms/schedules that will affect the 2024 tax returns and 2025 tax projections with an emphasis on newly enacted income tax legislation, court cases, and IRS guidance. The most recent business income tax legislation passed to date. Numerous business income tax. Issues related to compensation, distributions, liquidations, self-employment taxes, and retirement plans. Any changes to the Forms 1120, 1120S, and 1065 and other related schedules and forms.

How to prepare a Form 1041. Specific issues regarding a decedent's estate. Specific issues regarding a trust. Understanding the basics of Subchapter J of the Internal Revenue Code. How to comply with the tax compliance issue. Case studies regarding reading an estate document. Understanding of distributable net income (DNI). Understanding of income in respect of a decedent (IRD). Line-by-line instruction.

Important new cases. Crucial legislative developments. Review administrative releases including revenue rulings, revenue procedures and notices.