BUNDLES

An installment sale is a sale of property where one or more payments are received after the close of the tax year. This mini-course discusses the particulars of installment sales, including requirements, calculations, and pitfalls. Cross issues such as a combined installment sale and like-kind exchange, the impact of related parties, pledging, repossession and contingent payments are reviewed. Also, the importance of recognizing the dangers of dealer status, inventory, purchase price allocation, and installment note disposition are emphasized.

Assignment
At the start of the materials, participants should identify the following topics for study:
* Installment method
* Installment income
* Imputed interest & OID
* Related party sales
* Like-kind exchanges
* Contingent payments or price
* Sale of a business
* Dealer dispositions
* Installment notes in excess of $5 million
* Dispositions of installment obligations

Learning Objectives
After reading the materials, participants will be able to:
1. Recognize the importance, particularly in tax as payments are received, of the installment method and, identify §453 requirements and installment method terminology.
2. Specify the imputed interest, OID, and §1038 repossession rules affecting installment sales and subsequent repossessions.
3. Identify the regulations governing the use of the installment sale method in like-kind exchanges, and the contingent payment sale rules.
4. Determine how to allocate and report installment payments among identified asset classes and the §453 prohibitions on certain assets regarding dealer dispositions and inventory.
5. Identify the amount of interest payable on tax-deferred income when §453 dispositions exceed $5 million and circumstances considered taxable dispositions of installment obligations to determine when any gain or loss is recognized.

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. In Addition, no correct or incorrect feedback for any exam question will be provided.

Upon course completion A course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:  www.nasbaregistry.org

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/

This course focuses on tax issues affecting the treatment of interest and debt. It covers the definition of bona fide debt, the impact of related parties, the avoidance of equity and lease characterization, and deductible versus nondeductible interest factors. Sticky cross issues such as the impact of at-risk rules under §465, passive loss restrictions of §469, and below-market rate loans under §7278 are examined. In addition, the accounting method treatment of interest, points, prepaid interest, and discounted loans are reviewed. Particular attention is given to imputed interest and original issue discount.

Assignment
At the start of the materials, participants should identify the following topics for study:
* Indebtedness
* Deductible interest & mortgage interest
* Investment interest
* Nondeductible interest
* Personal interest & capitalized interest
* At-risk rules
* Passive activity limitations
* Below-market interest rate loans
* Imputed interest on sales
* Original issue discount (OID)

Learning Objectives
After reading the materials, participants will be able to:
1. Determine “interest” and select how much is tax deductible under §163 by recognizing incentives to use corporate debt instead of equity and the special treatment of failed equity investment under §1244 and identifying bona fide debt from installment sales.
2. Identify deductible interest and related special calculation concepts and determine net investment income including its impact on the deductibility of investment interest.
3. Recognize when interest is nondeductible personal interest under §163(h)(1) and determining the disallowance of interest related to the §465 at-risk limitations and application of the §469 passive loss rules
4. Identify interest under the cash or accrual method recognizing the special elections applicable and the treatment of §7872 loans.

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. In Addition, no correct or incorrect feedback for any exam question will be provided.

Upon course completion A course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:  www.nasbaregistry.org

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/

In this mini-course, initial marital tax matters such as living together, property rights, premarital agreements, filing status, exemptions, and dependents are explored. The detailed support test for children of divorced or separated parents, the tax treatment of back child support, the deduction of divorce costs, and estimated tax payments are reviewed. Emphasis is given to marital property rules, married versus unmarried tax rate comparison, head of household status, and treatment of refunds and deficiencies.

Assignment
At the start of the materials, participants should identify the following topics for study:
* Marital status
* Joint return
* Separate returns
* Head of household
* Exemptions
* Divorce costs
* Withholding & estimated tax
* Community property states
* Ending the community
* Living together

Learning Objectives
After reading the materials, participants will be able to:
1. Identify the tax advantages and disadvantages of joint filing, specify spousal defenses to joint and several liability and cite the status of deductible exemptions.
2. Recognize qualified child and dependency status  and identify the differences between custodial and non-custodial parents including how the status affects dependency.
3. Determine common law and community property specifying their effect on marital and divorce planning, and identify the circumstances when payments qualify as §71 alimony.

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. In Addition, no correct or incorrect feedback for any exam question will be provided.

Upon course completion A course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:  www.nasbaregistry.org

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/

The Tax Cuts and Jobs Act (P.L. 115-97), enacted Dec. 22, 2017, created, under §199A,  a new deduction for up to 20% of qualified business income (QBI) from partnerships, limited liability companies (LLCs), S corporations, trusts, estates, and sole proprietorships for tax years beginning after Dec. 31, 2017. However, determining the §199A deduction amount and availability is a very complex multi-step process that may phase out some or all of the deduction.
In the face of this complexity, the text provides a selected overview of the basic components of this below-the-line deduction. Qualified business income, taxpayer's taxable income, wage/capital limit, specified services trade or businesses, and other key components are not only defined and calculated but their interaction is demonstrated and exampled.

Assignment
At the start of the materials, participants should identify the following topics for study:
* Deduction amount
* Wage/capital limit
* Qualified business income
* Qualified trade or business
* Specify service trade or business
* De minimis regulatory rule
* Domestic business

Learning Objectives
After reading the materials, participants will be able to:
1. Recognize §199A's limited effective time period, its complex calculation process and the general exclusions, limits, and restrictions applicable to the provision.
2. Determine the §199A deduction amount, the type of  W-2 wages used in calculating the wage/capital limit and specify how the limit impacts the amount and availability of the deduction.
3. Identify qualified business income and loss, its basic components and the ability of a taxpayer to aggregate businesses in its determination.
4. Recognize the specified services trade or business exclusion, the listed excluded services and the important exceptions provided by the regulatory de minimis rule. Identify a domestic trade or business.

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. In Addition, no correct or incorrect feedback for any exam question will be provided.

Upon course completion A course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:  www.nasbaregistry.org

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/

In every audit, the auditor is required to specifically assess the risk of material misstatement of the financial statements due to fraud. Fraud auditing is a course that examines the types of fraud considered by auditors when auditing financial statements: fraudulent financial reporting and misappropriations of assets. This course describes the way auditors gather information to assess fraud risk in every audit and develop appropriate responses to identified fraud risks, after considering the effectiveness of management's anti-fraud programs and controls. This course focuses on the typical fraud techniques and highlights areas that are subject to greater risk of fraud. Once the auditor suspects fraud, it is their responsibility to gather additional evidence, often through inquiry. This course also describes the auditor’s responsibility for making certain communications about suspected or detected fraud to senior management and the audit committee.

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate.

Upon course completion A course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/

This course discusses the requirements of a Written Information Security Plan (WISP), as well as key components.  Beginning with PTIN renewal season 2024 all PTIN holders must certify they have a WISP and have trained employees, staff and sometime contractors.  Upon completion of the course, you will understand the history of the WISP set for under Gramm-Leach-Bliley Act and how Circular 230, AICPA Statement of Standards and the Federal Trade Commission ensure practitioner compliance.

To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.

Upon course completion a course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:  www.nasbaregistry.org

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/

This mini-course examines the various ideas, methods, and techniques capable of optimizing the overall compensation package for key employees and principals in small to medium-sized businesses. Qualified and non-qualified deferred compensation, benefit targeting, insurance programs, statutory fringe benefits, interest-free loans, and investment planning are investigated. Consideration is given to indirect compensation in the form of business entertainment, expense accounts, auto use, travel, and transportation. The new field of professional services is probed to provide tax, financial, and estate planning to the key executive.

ASSIGNMENT
At the start of the materials, participants should identify the following topics for study:
* Deferral of income
* Avoiding taxable income
* Unreasonable compensation
* Nonqualified deferred compensation
* Basic types of corporate retirement plans
* Individual plans
* Fringe benefits
* Employer-provided automobile
* Business entertainment
* Business travel & transportation

Learning Objectives
After reading the materials, participants will be able to:
1. Identify types of income, from a financial and tax perspective, to be budgeted into cash so that income-producing assets can be acquired and managed for an effective investment plan.
2. Determine strategies compensation to maximize the net dollar return, specify the differences between qualified deferred compensation plans and nonqualified deferred compensation plans, and recognize defined contribution plans from defined benefit plans identifying the characteristics of each.
3. Recognize the scope and variety of excluded fringe benefits including tax treatment, operational details, and level of incentive-based compensation.
4. Identify the disallowance of entertainment expenses, determine the tax treatment of reimbursements paid under accountable and unaccountable plans, and recognize deductible travel expenses undertaken for business.
5. Specify types of insurance that a company can provide its employees, define the various types of equity participation available from which companies may choose, and identify the basic types of buy-sell agreements.

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. In Addition, no correct or incorrect feedback for any exam question will be provided.

Upon course completion A course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:  www.nasbaregistry.org

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/

This mini-course brings the practitioner information on tax issues affecting interest and debt. The various types of interest and their required allocation are explored and reviewed. For the economically troubled client, special attention is devoted to debt cancellation, repossession, discounts, and foreclosure. The program also discusses installment sales, taxable interest, and bad debts.

ASSIGNMENT
At the start of the materials, participants should identify the following topics for study:
* Deductible interest & debt
* Nondeductible interest
* Below-market interest rate loans
* Unstated or imputed interest on sales
* Original issue discount (OID)
* Allocation of deductible interest
* Taxable interest
* Installment sales
* Debt cancellation & foreclosure
* Bad debts

Learning Objectives
After reading the materials, participants will be able to:
1. Determine whether the various types of interest are tax deductible or nondeductible and cite the imputed interest rules in the context of debt instruments.
2. Identify the interest allocation rules and the allocation period for a loan and, recognize the allocation of loan proceeds that are deposited in an account.
3. Determine the tax treatment of interest that is earned on such items as income on frozen deposits and U.S. Savings Bonds.
4. Recognize what constitutes the installment method, specify the parts of each payment on an installment sale, and cite the consequences of pledging installment obligations.
5. Identify exceptions to the general income inclusion rule and specify bad debt categories specifying the impact of nonbusiness bad debt recovery.

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. In Addition, no correct or incorrect feedback for any exam question will be provided.

Upon course completion A course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:  www.nasbaregistry.org

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/

We may all confront issues that directly impact how much we can deduct. This course is designed for participants who want to explore and examine the tax consequences of medical costs, charitable contributions, and casualty and theft losses, especially in relation to their deductibility. The emphasis is examining a wide variety of situations related to these items and the extent to which they may or may not result in a deduction and what limitations on deductibility may be imposed.

Assignment
At the start of the materials, participants should identify the following topics for study:
* Deductions for medical costs
* Health Savings Accounts
* Health insurance for the self-employed
* Limitations on charitable contributions
* Contributions of cash
* Contributions of property
* Contributions of services
* Substantiation
* Casualty and theft losses
* Disaster area losses
*Losses on Deposits

Learning Objectives
After reading the chapter, participants will be able to:
1. Identify the deductibility of medical costs by
a. Recognizing the percentage limitation, timing of payments, medically-related home improvements, and IRA withdrawals; and
b. Specifying the basic characteristics of Health Savings Accounts (HSAs) and the tax consequences of HSA withdrawal and determining deductibility of self-employed health insurance.
2. Recognize the charitable contribution provisions and identify how contributions of cash, property, and services affect deductibility of contributions of the different types of charitable contributions.
3. Determine what constitutes casualty losses, theft losses, and losses on deposits and recognize the issues related to the deductibility of these losses.

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. In Addition, no correct or incorrect feedback for any exam question will be provided.

Upon course completion A course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:  www.nasbaregistry.org

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/

In this course, the intricacies of setting up and terminating an S corporation are detailed and taxation is discussed. The numerous advantages and disadvantages of this entity are identified to help practitioners determine whether the S corporation is most suitable for their clients. Eligible domestic corporations can avoid double taxation by electing to be treated as an S corporation under the rules of Subchapter S. Subchapter S provides an optional method of corporate taxation and allows small business corporations to elect unusual tax treatment. The S corporation is taxed like a partnership, but in other respects, S corporations are taxed like C corporations.

Assignment
At the start of the materials, participants should identify the following topics for study:
* Advantages & disadvantages
* S corporation status
* Termination
* Income & expense
* Built-in gain
* Passive income
* Basis of stocks & debts
* Distributions
* Form 1120S
* Fringe benefits

Learning Objectives
After reading the materials, participants will be able to:
1. Recognize S corporation tax advantages and disadvantages, cite the requirements for an S corporation election, identify eligible S corporation shareholders, specifying the one-class-of-stock regulations, and determining the ways an S corporation election can be terminated.
2. Identify the concepts of S corporation taxation by:
a. Recognizing separately stated pass through items the application of passive income taxation, §1374 built-in gains, net operating losses, potential estimated taxes, and §465 at-risk provision, and
b. Specifying the related party rules including their impact on deductions, available fringe benefits, and Form 1120S filing requirements.

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. In Addition, no correct or incorrect feedback for any exam question will be provided.

Upon course completion A course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:  www.nasbaregistry.org

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/