CPE Catalog & Events

The major topics that will be covered in this class include:Proofing techniquesExcel Auditing ToolsUsing the Data Validation featureTechniques to cross-foot and validate your spreadsheets

Specific matters auditors should consider when obtaining and documenting an understanding of the client's internal control system Development of a tailored audit approach that considers the potential reliance on internal controls Guidance for establishing an adequate basis for reliance on internal controls of less formal, smaller clients

Update and review of recent and key tax developments impacting business and industry Tax depreciation update and review Research & Experimentation review and update Interest expense deduction Business losses Travel and entertainment expense rules Independent contractor vs. employee

Impact of the Section 174 law change requiring capitalization of research and experimental costs Comparison of the Section 41 R&E credit to the Section 174 R&E deduction Financial accounting for R&E costs Required change of accounting method and Form 3115 Revised treatment of software development costs Comprehensive case problems explaining implementation of the law changes

The major topics that will be covered in this class include:Discussion of the impact of the Section 174 law change requiring capitalization of research and experimental costs.Comparison of the Section 41 R&E credit to the Section 174 R&E deduction.Financial accounting for R&E costs.Required change of accounting method and Form 3115.Revised treatment of software development costs.Comprehensive case problems explaining implementation of the law changes.

Fraud Fraud Triangle

Why customer service is not just having nice people; it is truly serving the customer Analysis of the value of the customer to compare it to various costs creating an ROI How to develop a compliance program that adds value to the customer A hard look at several companies and industries that have mastered the dual objectives How COVID-19 has affected compliance and customer service

5 step valuation process 2 specific valuation approaches The Gordon Model 10 thoughts on banker selection Rating your bank 10 hints for keeping your toolbox full

The major topics that will be covered in this class include:Introduction to DAX: Understanding the fundamentals of DAX and its role in Power BI.Advanced DAX Formulas: Delving into complex DAX functions and formulas for creating sophisticated measures.Time Intelligence in DAX: Exploring time-based functions to analyze data over different periods.Validating Measures with DAX: Techniques for ensuring accuracy and reliability in your DAX measures.Using PivotTables for Measure Validation: Employing PivotTables in Power BI to test and confirm the effectiveness of DAX measures.

Sections 1231, 1245, 1250 Depreciation recapture Capital gains and losses Non-recognition transactions

The major topics that will be covered in this class include:Review the Accounting Standards Codification, OCBOA/Special Purpose Frameworks, and AICPA financial reporting framework and their application to partnerships, LLCs and S corporationsFinancial accounting issues arising from changes in ownershipFinancial vs. tax accounting for partnership/LLC capital accountsSection 704(b) substantial economic effect rules and their relation to financial accountingThe integration of financial accounting with Forms 1065 and 1120SFinancial accounting basis for ownership interests vs. tax accounting basis for ownership interestsDeferred tax accounting for partnerships/LLCs and S corporationsFinancial accounting for the operations of a partnership/LLCFinancial accounting impact of the C to S election and the S to C electionFinancial and tax accounting for S corporation shareholder equity and partner capital accountsFinancial vs. tax accounting for loans to and from S corporations and their shareholders

Legislative developments A full chapter devoted to determining the best planning options for maximizing joint Social Security benefits Retirement benefits: Amount of benefits in various circumstances; how the amounts are distributed within the family unit Qualification: Has the client retired? How business entities may be used for Social Security advantage Income taxation of Social Security: avoidance tactics Spousal benefits: Should a spouse return to work? What benefits does a spouse have and when and how do they relate to benefits decisions by the client? When can hiring the spouse increase overall benefits?  Why should both spouses qualify for survivor benefits? Disability benefits When to start Social Security benefits: Advantages and disadvantages at ages 62, full retirement age, and 70 Coordinating benefits: Should you take Social Security first and higher-balance IRA distributions later, or take IRA balances first and enhanced Social Security benefits later? Pensions: Distribution strategies; how to use the minimum distribution rules in concert with Social Security benefits IRAs: Is it time to convert to a Roth? Medicare, Part D prescription drugs: what retirees need to know

What’s NEW for this year – Items all practitioners must know  Form 1040 and Schedules 1 – 3 1099-K reporting requirements  Qualified Business Income -- Coverage of §199A including the real estate safe harbor  A tour of the most recent forms changes, starting from gross income and ending with selected credits, including the latest IRS guidance on significant recent tax legislation  How will clients (and practitioners) interact with IRS in the future and how the pandemic is steering the IRS to ramp up with digital communication efforts  Hot developments and current areas of interest  Virtual Currency and Digital Asset Taxation  Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas  Form 6198 -- At-risk basis: Detailed case study and discussion of how this form is to be used and when it needs to be filed; learn how basis and at-risk basis are different, and why this is significant  Form 6252 -- Installment sale income: A common tax area; however, a case study and discussion of this topic includes advanced issues such as gain on reacquisition of installment sale property, including worksheets on calculating gain & tax basis of reacquired property  Form 5329 -- Additional taxes on qualified plans: Advanced study of how to avoid penalties 

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, and 940 Understanding payroll tax responsibilities in the gig economy

The major topics covered in this class include:Written reports and supporting documentationMethods of presenting evidence to help non-accountants understand the numbersEvaluating reports of opposing expertsResponding to a motion in limine or Daubert challenge as an expert witnessCommon lines of questioning for financial expertsPreparing for deposition and trialEffectively testifying at deposition and trial

Auditing COSO 2013 Update

The major topics that will be covered in this class include:Recent ethics standards changes that impact your practice.Key regulatory changes and initiatives affecting CPAs and the future of the profession.Emerging issues and standard-setting activity that could affect your practice.Practical applications of the standards and common practice issues and challenges. Examples include independence issues, serving clients in the cannabis industry, and reporting potential noncompliance with laws and regulations to third parties.How failure to follow the standards can result in unwanted regulatory actions and publicity.

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

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) including but not limited to the 20% qualified business income (QBI) deduction, §461(l) business loss limitations, §163(j) interest deduction limitations and depreciation. 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

Extensive review of the S corporation income tax laws with an emphasis on any new legislative Schedule K analysis– determine if income statement items are separately (i.e. schedule K) or non-separately stated income and expense items Discuss how schedule K items get allocated to shareholders on their schedule K-1s Look at detailed Schedule K-1 information reporting to shareholders needed for the qualified business income (QBI) deduction, 3.8% net investment income tax and business interest expense limitations Talk about the unreasonably low officer compensation issues Learn the special tax treatment of fringe benefits paid to 2% shareholders and family members Schedule M-1 – calculate the reconciliation of income or loss per books with income or loss per income tax return Schedule M-2 – detailed step-by-step calculation of the AAA, PTI, E&P and OAA accounts Basic overview of the tax treatment of distributions including when a S corporation has prior C corporation earnings and profits (E&P) Review the importance and basics of calculating a shareholder’s stock and debt basis Basic overview of the potential S corporation built in gains tax from the conversion of a C to S corporation