CPE Catalog & Events

Explanation of legislation enacted in 2025 along with reminders for 2024 from legislation of recent years California tax law changes Income inclusions, exclusions and deductions Property transaction updates Passive activities, hobbies and other losses Guidance and planning on energy credits Significant IRS developments affecting practice and compliance procedures California's major developments for individuals and conformity to federal law changes for 2025 Filing status, credits and retirement plan developments Expired and expiring provisions Inflation adjustments for 2026 Due diligence and planning reminder

Detailed coverage of any new legislation affecting basis computations and distributions and changes to the schedule K-1s (including the NEW Form 7203 – S Corporation Shareholder Stock and Debt Basis Limitations) Line-by-line analysis of the Schedule K-1s to determine how the items affect a S shareholder’s stock and debt basis and a partner/member’s outside basis and where the items get reported on Federal individual income tax return The three loss and deduction limitations on the owner’s individual income tax return (i.e. basis, at-risk and other Form 1040 limitations) How cash or non-cash distributions affect the basis calculations and whether or not they are taxable to the owners Compare the tax treatment of the sale of a shareholder’s stock in a S corporation and a partner’s interest in a partnership What constitutes debt basis for a S corporation shareholder under the final regulations The tax ramifications of repaying loans to S corporation shareholders and on open account debt How recourse and non-recourse debt effect a partner or member’s basis calculations and amount at-risk

Accounting & Auditing Yellowbook Uniform Guidance

The major topics that will be covered in this course include:GASB 100, Accounting Changes and Error Corrections.GASB 101, Compensated Absences.Yellow Book and Single Audit engagements.Yellow Book independence requirements.Changes to the Uniform Guidance.2024 Compliance Supplement and the common deficiencies identified by the federal agencies and peer reviewers.

Lease classification Amortization of the lease asset Derecognition of the underlying asset Recognition of lease receivables Lease modifications Sale and leaseback transactions Presentation and disclosure requirements

Congressional Budget Reconciliation Process - explore how this powerful legislative tool allows Congress to fast track tax law changes and how it could be used to enact significant tax reforms in the current political climate President Trump's tax proposals - review key components of President Trump's tax agenda, including a tip income exemption, overtime pay relief, Social Security tax exemption, auto loan interest deductibility, SALT deduction modifications, a lower corporate tax rate, restoration of 100% bonus depreciation, immediate R&D expensing, and permanent extension of select TCJA provisions Potential expiration of select TCJA provisions - understand the implications for individual and business taxpayers as key provisions of the TCJA approach sunset dates Tariff policy and implementation - analyze the use of tariffs as a fiscal and trade policy tool Digital assets and tax implications - understand the new Form 1099-DA for reporting digital asset transactions, along with updated IRS guidance on cryptocurrencies, NFTs, and broker responsibilities Artificial intelligence - discover how AI and generative tools are transforming tax practices, as well as how the IRS is leveraging AI to enhance audit selection Form 1099-K reporting requirements - understand the evolving IRS thresholds and rules for third-party payment platforms Sale of Passthrough Entity Interests and Net Investment Income Tax - analyze the tax implications of selling interests in passthrough entities, including relevant examples, and how the Net Investment Income Tax (NIIT) applies to these transactions  The Gig Economy - examine key tax implications for gig workers, including Independent Contractor vs. Employee classification challenges, reporting responsibilities, and the impact of the 2024 Department of Labor Final Rule on worker status Timely coverage of breaking tax legislation 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

Communications Self-Awareness Leadership 

The major topics that will be covered in this class include:Key changes to audit report elements intended to improve the understandability of the nature and results of financial statement auditsEnhanced required by-product communications with management and those charged with governance to promote more reliable financial statementsClarifications related to obtaining sufficient and appropriate audit evidence, including significant unusual transactions, related parties, going concern uncertainty, and accounting estimatesNew definitions and requirements related to identifying and evaluating risks of material misstatementOther important matters contained in SAS Nos. 134-145

Leadership Recognition Total Rewards Employee Engagement

The shift to “predictive accounting” for Decision Making, Planning, and Budgeting Problems with traditional annual budget processes Develop a driver-based “operational budget” based on resource capacity planning Classify resource capacities and their expenses as sunk, fixed, step-variable, and variable Create closed loop capacity plans Forecast demand for budgeting and rolling financial forecasts Integrating enterprise risk management (ERM) with management accounting Applying target costing for cost estimating

The major topics that will be covered in this course include:Introduction to GPT Builder platform and interface for accounting professionalsCreating accounting-specific custom instructions and knowledge basesImplementing financial data analysis capabilities through GPTsDesigning GPTs for tax preparation assistance and compliance checkingBuilding client communication tools with accounting terminologyEnhancing bookkeeping efficiency with automated GPT workflowsSecurity and confidentiality considerations for financial data

Set up an in-cell drop-down list of budget methods  Change the calculations in the cells based on the selected budget method  Use names in worksheets

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

Final regulations on “eligible terminated S corporations” (ETSCs) Cases, rulings, and tax law changes affecting S corporations Compensation planning in S corporations, including limitations in a family-controlled business; self-employment tax issues, including IRS efforts to address underreporing of S corporation officer compensation Use of redemptions: still some advantages Planning for the liquidation of an S corporation Tax issues for family ownership of S corporation stock Impact of the tax on net investment income on sales of S corporation stock Stock basis: Loss limitations, AAA, and distribution issues in depth Debt basis: what the regulations on back-to-back loans mean to investors Estate planning for S corporation shareholders, including buy-sell agreements, QSubs, ESBTs, and uses of life insurance Built-in gains: the 5-year recognition period S corporation structuring: one class of stock Methods of accounting Legislation on mortgage interest reporting, basis, statute of limitations, and tax return due dates

Step-by-step Form 1041 preparation Key issues in decedent’s estates and trusts Understanding Subchapter J and its impact on taxation Compliance strategies for fiduciary entities Tax treatment of DNI and IRD Case studies illustrating real-world application Legislative updates affecting estate and trust taxation

The major topics that will be covered in this course include:Discuss ethics from an every-day real-world perspectiveHow to prevent an ethical lapse that can turn your business into the next news story

Revenue Recognition

Discuss the calculation of basis when the entity is formed including the impact of contributed property Explain the importance of shareholder loans to the entity Uses a comprehensive example to illustrate the mechanics of the basis determination process Discuss how basis is impacted by distributions of corporation property and sale/or liquidation of the S corporation interest Explain how S corporation losses impact Form 1040 Schedule E reporting Show how to get from the Schedule K-1 information to the basis calculations

Coaching Effective Communication Problem Solving Use of AI as a coaching tool

The major topics that will be covered in this class include:Key changes to audit report elements intended to improve the understandability of the nature and results of financial statement auditsEnhanced required by-product communications with management and those charged with governance to promote more reliable financial statementsClarifications related to obtaining sufficient and appropriate audit evidence, including significant unusual transactions, related parties, going concern uncertainty, and accounting estimatesNew definitions and requirements related to identifying and evaluating risks of material misstatementOther important matters contained in SAS Nos. 134-145