CPE Catalog & Events

S corporation earnings layers Observations on earnings layers S corporation basis calculation IRC 351 transactions Four loss tiers Appreciated property distributions

Does continuing to live at the current location meet retirement goals and lifestyle? Are there family concerns such as an elderly parent that prevent moving away from the current location? Is the current location affordable when income from a salary ceases? What health concerns are there that would limit the ability to move to another location? Is an assisted living facility something that should be considered now or in the future and is a suitable one available? What happens if a person is disabled while retired? Are there state and local tax considerations that would encourage staying in place or moving? Are there climate and weather concerns that would encourage a person to stay in place or move to a more desirable location? Should a retiree downsize?

Why important things don’t get done on a timely basis, and what to do about it Five ways to increase productivity that almost no one ever uses The four proven ways to keep yourself and your staff motivated to consistently work at the highest level How to avoid feeling stressed out—even though your “to do” list is endless The three time management techniques that you’re not using that are critical to your success How to know and avoid what is a poor use or waste of your time How to set goals that excite you, and how to guarantee they actually get done Three ways to elicit help from others that ensure their cooperation and help The smart things to do with the extra time you’ll have when you’re on top of it all

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

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:An overview of AI constructs.How artificial intelligence is being used by accountants today.Accounting-centric AI developments on the horizon.

Expanding Automatic Enrollment in Retirement Plans Increased Age for RMDs Higher Catch-up Contribution Limit Emergency Expense Penalty-Free Withdrawals “Starter” 401(k)s for Certain Employers Part-time Worker Improved Coverage

Forensic Accounting Accounting Auditing Finance

Preparation of the statement of cash flows Importance of identifying sources and uses of cash in financial reporting Financial statement analysis Cash-related financial statement disclosures

We'll explore what gratitude is and how expressions of it can vary from culture to culture. We'll also unpack several ways you can regularly say "thank you" to valued clients and colleagues, and we'll examine methods for evaluating gratitude in prospective and current employees.

Action steps in 706 preparation engagement Filing requirements, new forms, IRS return review procedures, closing letters Obtaining transcripts and previously filed returns Completing introductory pages 1 4 Worksheets provided: Summary of Estate Plan Summary of Estate and Subtrust Funding; Beneficiary Allocation Schedule

Why important things don’t get done on a timely basis, and what to do about it Five ways to increase productivity that almost no one ever uses The four proven ways to keep yourself and your staff motivated to consistently work at the highest level How to avoid feeling stressed out—even though your “to do” list is endless The three time management techniques that you’re not using that are critical to your success How to know and avoid what is a poor use or waste of your time How to set goals that excite you, and how to guarantee they actually get done Three ways to elicit help from others that ensure their cooperation and help The smart things to do with the extra time you’ll have when you’re on top of it all

The major topics that will be covered in this course include:Enterprise-wide risk management best practices for identifying, evaluating, and determining how to respond to relevant risks.The importance of risk and uncertainty disclosures in the preparation and fair presentation of financial statements, including evolving risks with cybersecurity and ESG.Coordinating risk management efforts, including the required involvement of corporate governance.How to embed risk management into day-to-day accounting and finance activities.

Fringe Benefit Planning Fundamentals Strategies Tailored for Business Owners and Employees Navigating IRC §132 Fringe Benefit Option Cafeteria Plans Demystified Tax Management in Compensation Planning Understanding the Implications of Dependent Care and Educational Assistance Plans Implementing Flexible Spending Account Plans Effectively Design Features and Regulations of Group Term Life Insurance Plans Medical Savings Accounts Regulations Financing Options for Retiree Medical Benefits Health Care Benefits: Insured Plan vs. HMO Comparison ERISA Reporting and Disclosure Requirements IRC Common Control RulesOverview of Age and Sex Discrimination Rules

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 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 Principles and considerations for nonresident withholding, composite payments, and passthrough entity taxes Partnership Distributions, Form 7217, and S Corporation Redemptions Thinking beyond §163(j) -- Interest Allocation Rules, Original Issue Discount, Applicable High Yield Discount Obligations, Convertible Corporate Debt Instruments, and Debt-Financed Distributions Timely coverage of breaking tax legislation 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 Form 1099-K reporting requirements Bonus depreciation  Section 174 Research & Experimental Expenditures -- guidance under Notice 2023-63 and Notice 2024-12 Decentralized Autonomous Organizations (DAOs)

COSO 2013 Update Yellowbook Accounting

Circumstances that may cause recent FASB pronouncements to introduce threats to independence AICP's Code of Professional Conduct Best practice tips and practical strategies for preserving independence when assisting clients with technical matters

Schedule of sessions: Ethics, Resources; Governance and Leadership Wednesday, April 2 Identify and optimize resources necessary to build a strong QM framework. Learn best practices for leveraging resources to support the quality management objectives, including assessing and responding to risk. ----- Client Acceptance, Engagement Performance, and Communication Tuesday, June 17 This session will emphasize the practical steps for implementing QM standards effectively. Get insights into the challenges and strategies of transitioning from planning to action in quality management. ----- Documentation, peer review and the QM standards Tuesday, August 12 Understand how peer review intersects with the new QM standards, how to address common questions on compliance, and gain insights on preparing for peer reviews. You will learn to align your QM processes to meet peer review expectations. ----- Policies Ready? Leadership Responsibilities, Evaluation, and Conclusion Tuesday, September 30 With the new QM standards' effective date just a few weeks away, this session helps you assess your readiness. Join a live walk-through of a final checklist to ensure your policies and procedures are robust and responsive to quality risks.

Federal Disaster Relief Act provisions enacted in December, 2024 Comparison of personal use casualties with business/investment casualties When to claim casualty losses How to postpone casualty gains Business casualty gains and depreciation recapture

Accounting Finance