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Description: Schedules K-2 and K-3 for reporting partners' income, deductions, and credits from foreign activity are now required for passthrough returns (Form 1065, 1120-S and 8858). This requirement starts with returns with a tax year that ends in 2021. This course will discuss each part of these… | |
Business expenses are the costs of carrying on a trade or business, and they are usually deductible if the business is operated to make a profit. This mini-course reviews various expenses that businesses may deduct and the requirements that must be met for those expenses to qualify for deduction. Furthermore, practitioners can use this as a guide to determine which of their clients taxes are deductible as business expenses. As a result of studying the… | |
How can you help your clients protect their assets? What is the best way for your client to go bankrupt? How can you help your client avoid the tax trap when going through a divorce? This course addresses all of these and many other, critical legal issues for the tax practitioner in a quick and effective potpourri of legal topics and their tax impact. The emphasis is on the tax consequences of common legal issues… | |
The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control. | |
Cash flow is one of the most important long-term indicators for the overall financial health of a business. For a business to enjoy long-term success, sufficient cash must always be on-hand to accomplish various things including paying worker salaries, resolving immediate debts, and paying the companys normal operating costs. Businesses also need cash on-hand to pay for expenses, repay bank loans, pay taxes, and to purchase new assets to fuel the companys future growth. A… | |
The Tax Cuts and Jobs Act of 2017 (TCJA), signed into law during the closing days of 2017, significantly affects tax planning and the income tax liability for many taxpayers. This course will examine the principal changes affecting individual taxpayers made by the TCJA and the current limits applicable to them. It examines the provisions of the TCJA with increased potential to affect the taxation of individuals | |
This course presents an overview of blockchain and the tax implication of cryptocurrency transactions. The IRS has provided some recent guidance, but potentially conflicting pronouncements by other regulatory agencies have created uncertainty on reporting issues. This course will help the practitioner understand when a taxable transaction has occurred, what reports to file to satisfy IRS requirements, and identify tax traps… | |
This course presents an overview of blockchain and the tax implication of cryptocurrency transactions. The IRS has provided some recent guidance, but potentially conflicting pronouncements by other regulatory agencies have created uncertainty on reporting issues. This course will help the practitioner understand when a taxable transaction has occurred, what reports to file to satisfy IRS requirements, and identify tax traps… | |
Non-fungible Tokens (NFTs), unique, identifiable digital assets based on blockchain technologies, have become a fast-growing industry. This course will provide a background on how NFTs came into the mainstream marketplace. These materials will assist the practitioner to understand the tax implications of the creation, purchase and sale of these assets.
Who should Attend : This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, Enrolled Agents, accountants, attorneys and business/financial advisors who… | |
Description: Please join us for a discussion on like-kind exchanges (LKE), known as one of the last great tax legal “shelters” available to those buying and selling real property. We will be covering the basic structure of a LKE, and ways a taxpayer can utilize qualified third party intermediaries (QI), tenancy-in-common structures including Delaware Statutory Trusts (DST). We will also… | |
Description: This seminar will introduce the process from filing a tax return to the IRS audit, IRS Appeals, Collections and litigation at courts of original jurisdiction. We will discuss the options taxpayers have at any point in the process with reference to real-life stories from the trenches. This course is ideal for CPAs, EAs, or other tax professionals.Program… | |
The Internal Revenue Service routinely processes more than 200 million tax returns each year, many of them prepared by tax professionals. Not surprisingly, as tax law becomes increasingly complex, taxpayers often seek for the knowledgeable assistance of attorneys, CPAs, enrolled agents and other qualified tax return preparers. To help ensure such professionals understand their ethical responsibilities in representing their clients before the IRS and in preparing their tax returns, the IRS has published Treasury Department… | |
Description: This course presents an overview of tax treaties and how they are used in structuring transactions and determining the tax impact of cross-border transactions. It discusses the ordering rules for local laws versus treaty laws, and the purpose of the tax treaties in avoiding and eliminating double taxation to promote trade and investment. The participant will learn about planning… | |
Federal tax policy is designed to accomplish numerous goals, from funding the government to encouraging socially beneficial actions such as saving for retirement. ERISA, the Employee Retirement Income Security Act, was created principally to meet the latter objective. ERISA created an individual retirement arrangement usually referred to simply as an IRA to encourage taxpayers who were not participants in an employer-sponsored qualified retirement plan to save money to fund their future retirement needs. That was… | |
One of the important considerations in many financial transactions is the tax treatment the transaction is given. Often, the impact of taxation is a consideration in the purchase of life insurance every bit as much as it applies to stock purchases, bond purchases, and the establishment of qualified retirement plans.
In this course we will look at the tax treatment given proceeds from life insurance policies and will consider the taxation of death benefits, cash value… | |
Employer-sponsored retirement plans, generally referred to in the aggregate as qualified employee plans, constitute one of the important legs of the retirement stool that individuals look to for their income in retirement. The other two legs of that stool are personal saving through investment in securities, deferred annuities, savings accounts, etc., and Social Security retirement benefits. This course will examine qualified employee plans, their limits, and their tax treatment along with a discussion of annuities… | |
Health insurance is so central to the health and well-being of people that it may be hard for many Americans to believe it could ever have been a less important factor in helping to promote good health than it is today. In fact, health insurance as it is recognized today is a relatively recent development. Since the early development of health insurance coverage, many changes have occurred in the manner in which health care services… | |
According to a survey done by the Pew Research Center whose results were published in November 2021, 16% of Americans indicated they personally have invested in, traded, or otherwise used virtual currency additionally, the number of people investing in or engaging in transactions involving virtual currency continues to increase. These statistics strongly suggest that tax preparers must be aware of the nature of virtual currency and its tax treatment. It's to provide that awareness that… | |
Description: This course will introduce you the different types of business entities and the tax implications of contributions, distributions and earnings, among other topics.Who should Attend: This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, CAs Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise… | |
Description: In the course of legal actions, payments may be made pursuant to a final disposition of a court case or a mutually agreed-upon settlement. This course will cover the tax implications for payments made for personal injury, emotional distress, lost wages, punitive awards, pre- and post-judgement interest, contract claims, among other damages. Who should Attend: … | |
The Corporate Transparency Act (CTA) - is a law that mandates that a business entity must disclose who the beneficial owners of the entity are. Any business entity formed by application is subject to the CTA these entities include Corporations (both C and S), Partnerships (both general and limited), Professional Corporations, and Limited Liability Entities (in all Forms). Why is this law here? Well there are those in congress that are concerned all business entities… | |
The Tax Cuts and Jobs Act of 2017 (TCJA) affects the tax planning and income tax liability for many taxpayers. Among those for whom the TCJA will have a more significant effect are business owners of pass-through trades or businesses who may be eligible for the TCJA pass-through deductions.
This course will examine the pass-through deduction authorized under 199A of the TCJA. The text is conceptually divided into three sections: First, calculation of the pass-through deduction… | |
Please join us for a discussion on Treasury Circular 230 and other ethical issues faced by enrolled agents and other tax preparers. In addition to covering the practice standards espoused by Treasury Circular 230, there will also be an overview of the applicable provisions in the Internal Revenue Code (IRC) and common law which will affect tax preparers. The discussion will conclude with other ethical issues, such as avoiding conflicts of interest, proper fee structure… | |
This course can benefit accountants, as well as business managers, who want to understand how financial ratios and other forms of analyses can be used to evaluate a business. This course also covers the investment classifications and investment accounting used by companies to record investments within their financial statements. |