CPE Catalog & Events

Proven ways to measure costs in relation to objectives Develop methods to measure company and department objectives Use ratios to measure and improve efficiency Develop an incentive system that rewards efficiency

Effects of recent legislation, including the recently enacted Inflation Reduction Act and the SECURE Act 2.0 Filing information, filing status, personal exemptions, dependents, the standard deduction, etc. Dependents and income Wages and salaries Credits, withholding, estimated tax, and basic return preparation Capital gains and losses Itemized deductions

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 acccounts 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

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 acccounts 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

The keys that develop a plan into an actionable document The major difference between planning and budgeting Strategic planning The business plan The people plan The marketing plan Capital and technology plans

Differences between planning and budgeting The business model Strategic plan, marketing plan, and technology plan Financial forecasting and financial risk analysis Five-year operating plan and the sales/income plan Intermediate planning and capital equipment planning One-year operating plan and monthly planning Cash plan and risk plan

ACFE's Occupational Fraud 2022: A Report to the Nations and the most commonly found controls in fraud victim organizations  Internal controls in relation to COSO principles How to employ controls to cut losses How to modify controls in the post-COVID era Remote work circumstances and considerations

ACFE's Report to the Nations and the most commonly found controls in fraud victim organizations  Internal controls in relation to COSO principles How to employ controls to cut losses How to modify controls in the post-COVID era The potential impact of increased enforcement of laws and regulations to replenish government coffers Remote work circumstances and considerations

History of the financial statement audit Objective of a financial statement audit Audit Process and Linkage Management and the Auditor’s Responsibilities Evaluating Audit Risk Risk Assessment Process Risk Assessment Procedures Documentation

Timely coverage of breaking tax legislation Tax consequences of retiring partners seeking liquidating distributions/redemptions and S corporation shareholders seeking the redemption of their shares At-risk and passive activity loss considerations Basis planning Related party transactions: making them work Income splitting and shifting with family can create considerable benefits Sale of ownership interest and NIIT considerations

Timely coverage of breaking tax legislation Tax consequences of retiring partners seeking liquidating distributions/redemptions and S corporation shareholders seeking the redemption of their shares At-risk and passive activity loss considerations Basis planning Related party transactions: making them work Income splitting and shifting with family can create considerable benefits Sale of ownership interest and NIIT considerations

Developing issues related to Yellow Book audits and single audits Key AICPA developments affecting audits of governments and nonprofits (including implementation of SAS No. 145 on risk assessment) Recent GASB activities directed toward state and local governments with an emphasis on the implementation of GASB No. 87, Leases The changes that occurred in NFP presentation and disclosure as a result of ASU No. 2020-07 The effects of FASB ASC 842, Leases, on nonprofits

Developing issues related to Yellow Book audits and single audits Key AICPA developments affecting audits of governments and nonprofits (including implementation of SAS No. 145 on risk assessment) Recent GASB activities directed toward state and local governments with an emphasis on the implementation of GASB No. 87, Leases The changes that occurred in NFP presentation and disclosure as a result of ASU No. 2020-07 The effects of FASB ASC 842, Leases, on nonprofits

Outcomes of the recent FASB and IASB Joint Project related to Leases Differentiating between accounting and reporting requirements for operating and finance leases Evaluating possible material misstatement related to lease recognition, measurement, presentation and disclosure

Background of the Dixon, IL fraud case Internal control weaknesses related to the $53 million fraud Lessons learned from this case

ASC Topic 606, Revenue from Contracts with Customers The FASB’s new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance Presentation and disclosure requirements and examples Industry-specific implementation issues and guidance Best practices, lessons learned and opportunities to improve on the reporting of revenue under Topic 606 going forward Accounting considerations related to COVID-19-driven changes to revenue recognition processes

ASC Topic 606, Revenue from Contracts with Customers The FASB’s new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance Presentation and disclosure requirements and examples Industry-specific implementation issues and guidance Best practices, lessons learned and opportunities to improve on the reporting of revenue under Topic 606 going forward Accounting considerations related to COVID-19-driven changes to revenue recognition processes

Tax rules governing liquidation of a partnership or S corporation Tax treatment of the shareholder/partner/member receiving a liquidating distribution in an S corporation liquidation/partnership liquidation Tax impact on the pass-through entity when the entity is liquidated Receipt of corporate liabilities in an S corporation distribution Proportionate, liquidating partnership distributions to partners, and gains and losses to a partner on a liquidating partnership distribution Tax issues associated with a partnership distribution of noncash properties in a liquidation Compliance requirements on the occasion of a liquidation of a corporation or a partnership

Professional and ethical conduct requirements specifically applicable to Maine CPAs The core principles of professional conduct -- integrity, objectivity, and independence Recent changes to the AICPA Code of Professional Conduct Principles and concepts which form the foundation of ethical behavior

What it takes to be effective as a manager Exploring the challenges that get in the way Looking at the driving forces that have evolved how managers engage with employees today Motivating employees of multiple generations Twelve practices that can be adopted to influence employees to become more engaged Identifying what it takes to develop employees Delegation and accountability