CPE Catalog & Events

• Types of contractors • Non-revenue GAAP accounting for contractors • Contractor financial statements • Sureties and their place in the construction relationship

• Overall landscape of the construction industry • GAAP and recent changes affecting the construction industry • The new Revenue Recognition Standard and its impact on the construction industry • The unique relationship between the contractor and the surety • The new lease FASB ASC and its impact on the construction industry

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 An update on income tax and estate-planning ideas, including any recent changes Tax ideas for the current year  Miscellaneous tax-planning techniques that can add up to significant tax savings How to use the whole family for tax savings Up-to-the-minute ideas reflecting new tax law changes in cases, regulations, and rulings

Applicable coverage of any basis considerations within any recent tax legislation enacted before the presentation Discuss new pass-through basis calculations required as attachments to certain individual returns Excess business losses and NOLs Tax Basis Capital Account Reporting Requirements How 179 limitations affect basis and how the "tax-benefit" rule is applied S corporations: Beware of final IRS regulations regarding "open debt" of S corporations; understand the effect of stock basis and debt basis and IRS's recent focus on "at-risk basis" for shareholders; recognize how AAA applies or does not apply to certain S corporations; learn to apply the complex ordering rules and special elections that can have a big tax result; become aware of when you can have a taxable dividend in an S corporation; understand distributions of cash and property and post-termination transition rules, and temporary post-termination rules for eligible corporations LLCs and partnerships: Learn the detailed rules of 704 for preventing the shifting of tax consequences among partners or members; determine how to calculate basis under both 704 and for "at-risk" under 465; recognize how recourse, nonrecourse, and qualified nonrecourse debt can create significantly different tax results; review 754 step-up in basis rules; and learn how legislation cleans up the basis treatment of charitable contributions and foreign taxes paid

• An overview of the beginning of the process and documents for preliminary tax planning • Recognizing the need for due diligence in acquisitions, including checklists of important points • Deemed asset sales - 338 and 338(h)(10) • The impact of the 197 amortizable intangibles regulations on the acquisition and disposition of a business • Allocating purchase price for tax advantage • Planning to avoid double taxation under the repeal of the General Utilities doctrine • Special problems and opportunities when an S corporation is the buyer or seller • Installment sale and interest issues • Avoiding tax pitfalls and recognizing tax planning opportunities • Unique issues in buying and selling LLC/partnership interests • Impact of the net investment income tax (NIIT) and the 199A pass-through deduction on the tax due on the sale of a pass-through entity • Individually owned goodwill

• 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

• How and why a partnership makes a 754 election • The effect of the 754 election when an interest in a partnership is sold or inherited • How the 754 election applies when a partnership makes a distribution of property to one or more of its partners • How to make the 754 basis adjustment

When is a person eligible to take Social Security benefits? Factors to consider when selecting an option for taking Social Security benefits Is there a best age to start taking Social Security benefits? How to maximize Social Security benefit payments for surviving spouses How can a divorced spouse collect Social Security benefits based on the work record of a former spouse? How minor children can collect Social Security benefits based on the work record of an older parent

• An introduction to special purpose frameworks • Authoritative and non-authoritative guidance used to prepare SPF financial statements • Common issues in preparing SPF financial statements • Cash basis and modified cash basis financial statements • Income tax basis financial statements • The AICPA's special purpose framework - FRF for SMEsTM

• Comprehensive coverage of the Inflation Reduction Act of 2022 and SECURE Act 2.0 • Timely coverage of breaking tax legislation • Retirement planning in light of IRA and RMD changes • Review of pertinent changes from recent legislation • Reading a tax return for developing client-specific tax strategies • Identifying tax opportunities: reviewing the prior-year return to develop a plan for the future • Compensation and fringe benefit issues • Identify clients with net investment income tax problems and the potential ways to reduce or eliminate them • All in the family: Tax tactics for spouses, children, and parents • Understanding the environment: what's new, what's expired or expiring, and what's likely to change

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, Premium Tax Credit, Elective Payment, Transferability, and Prevailing Wage and Apprenticeship Requirements Comprehensive coverage of the SECURE 2.0 Act, including: Expanding Enrollment in Retirement Plans, Increase in Age for Required Beginning Date for Mandatory Distributions, New Exceptions to Penalty-Free Withdrawal from Retirement Plans, and recent IRS guidance Timely coverage of breaking tax legislation Form 1099-K reporting requirements Detailed analysis and examples of Sale of Pass-through Entity Interest and Net Investment Income Tax The Gig Economy -- Tax implications, Independent Contractor vs. Employee Classification, and the 2024 DOL Final Rule New FinCEN reporting requirements under the Corporate Transparency Act in 2024 Employee Retention Tax Credit updates Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates,retirement contributions, and more Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas

• Substantially increased IRS funding provided by the Inflation Reduction Act • IRS test program in 2024 to determine if it should prepare tax returns • Using improved data and analytics to tailor timely collections contacts • Auditing large corporations and partnerships • Audits of high income and high net worth individuals • Information Document Requests • What happens when a client agrees or disagrees with the IRS's audit findings • The Dirty Dozen: roadmap to IRS audit issues

What is Expected of the In-Charge Plan Engagement Assess Risk and Materiality Nonstatistical Audit Sampling Meet Client Needs Complete Engagements Review Assistants' Work Supervision

• 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

• How to calculate a partner or S corporation shareholder's basis • Form 7203 and an S corporation shareholder's basis • The at risk basis rules and Form 6198 • The passive activity loss limits • The Section 461(l) loss rule • The net operating loss limitation rules • The Section 163(j) business interest limitation

Relevant sections of SSARS No. 21, Clarification and Recodification Updates to SSARS No. 21 guidance due to issuance of SSARS Nos. 22, 23 and 24 Proposed changes to the SSARS guidance Comprehensive sample engagement work programs for preparation and compilation engagements Prescribed form, specified line item, pro forma, and other engagement variations Complete illustrations of relevant engagement letters, reporting and other required communications for preparation and compilation engagements SSARS No. 21 implementation issues and peer review feedback

• How innovation happens • Innovation metrics and how to report on innovation efforts • How the use of technology and other simple techniques can foster and sustain innovation • The difference between disruptive and sustaining innovation • How to become more innovative on a personal level • How to communicate and encourage innovation within your company

Developing issues related to Yellow Book audits and single audits Key AICPA developments affecting audits of governments and nonprofits (including SAS No. 145 on risk assessment) Recent GASB activities directed toward state and local governments (e.g., the implementation of GASB Nos. 100 and 101, and additional GASB projects) Lessons learned by nonprofits (and lessons remaining) from the implementation of FASB ASC 842, Leases and ASU No. 2020-07 related to contributions of nonfinancial assets Other issues related to nonprofits