CPE Catalog & Events

Private company standard setting activities Small and medium-sized business-related ASUs Lease accounting update Lessons adopted from the adoption of Topic 606 Going concern considerations related to COVID-19 Special purpose frameworks -- Cash, modified cash, and tax basis Common small and medium-sized business financial statement errors and deficiencies Newly issued SSARS and SSAE standards SASs effective for 2021 year-end audits

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

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

Coverage of the Inflation Reduction Act of 2022 Single-member limited liability companies as an alternative to subsidiaries Cancellation of indebtedness: rules and regulations How the IRS views members or partners for Social Security purposes Special problems when forming an LLC Debt issues and problems in structuring LLCs and LLPs, including loan guarantee issues, recourse and nonrecourse debt, the at-risk basis rules, and new regulations restricting “bottom dollar” guarantees Distributions: is it just a disguised sale? New regulations eliminate certain tax-deferred leveraged partnership transactions Death or retirement of a member or partner -- Understanding the alternatives Step-up in basis issues -- How to make the computations and elections Property transactions between the LLC/LLP and its members or partners -- Inbound and outbound transactions: what to do with built-in gain or loss property Partnership losses: when are they deductible?  See, in particular, TCJA and CARES override Material participation rules for LLC members and limited partners: how they affect passive loss issues Continuation and termination of an LLC/partnership in the context of a merger or acquisition Sales of an LLC Interest -- holding period, and hot asset issues Impact of the tax on investment income on the sale of an interest in a partnership or LLC Repeal of technical termination of partnership provision

Coverage of the Inflation Reduction Act of 2022 Single-member limited liability companies as an alternative to subsidiaries Cancellation of indebtedness: rules and regulations How the IRS views members or partners for Social Security purposes Special problems when forming an LLC Debt issues and problems in structuring LLCs and LLPs, including loan guarantee issues, recourse and nonrecourse debt, the at-risk basis rules, and new regulations restricting “bottom dollar” guarantees Distributions: is it just a disguised sale? New regulations eliminate certain tax-deferred leveraged partnership transactions Death or retirement of a member or partner -- Understanding the alternatives Step-up in basis issues -- How to make the computations and elections Property transactions between the LLC/LLP and its members or partners -- Inbound and outbound transactions: what to do with built-in gain or loss property Partnership losses: when are they deductible?  See, in particular, TCJA and CARES override Material participation rules for LLC members and limited partners: how they affect passive loss issues Continuation and termination of an LLC/partnership in the context of a merger or acquisition Sales of an LLC Interest -- holding period, and hot asset issues Impact of the tax on investment income on the sale of an interest in a partnership or LLC Repeal of technical termination of partnership provision

Coverage of the Inflation Reduction Act of 2022 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

Coverage of the Inflation Reduction Act of 2022 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

New issues for the current year tax return and §199A Installment sales — understanding the complicated issues Form 8582: Passive losses with carryovers — Complicated case with filled-in forms Puts, calls, straddling, and unusual investments — Understanding the tax laws and reporting them correctly on the tax return Capital gain and loss issues — The problem with proper reporting of installment sales issues; capital gains and losses; when is a stock worthless; and much more… At-risk rules: What a return preparer really needs to know Passive loss issues — You cannot just trust your software. What to watch out for and the questions you need your clients to answer in order to do it right! Incentive and nonqualified stock options — Reporting; key strategies for planning; dealing with the alternative minimum tax Alternative minimum tax — Understanding it; planning strategies to avoid it; using the minimum tax credit; explaining it to a client Form 6251: Detailed calculation example

New issues for the current year tax return and §199A Installment sales — understanding the complicated issues Form 8582: Passive losses with carryovers — Complicated case with filled-in forms Puts, calls, straddling, and unusual investments — Understanding the tax laws and reporting them correctly on the tax return Capital gain and loss issues — The problem with proper reporting of installment sales issues; capital gains and losses; when is a stock worthless; and much more… At-risk rules: What a return preparer really needs to know Passive loss issues — You cannot just trust your software. What to watch out for and the questions you need your clients to answer in order to do it right! Incentive and nonqualified stock options — Reporting; key strategies for planning; dealing with the alternative minimum tax Alternative minimum tax — Understanding it; planning strategies to avoid it; using the minimum tax credit; explaining it to a client Form 6251: Detailed calculation example

Identifying when an election to adjust basis will be available Determining when the basis adjustment must be made or may be made without an election Learning how to make the calculations to determine a step-up and allocate that step-up among partnership assets Examining practical examples dealing with a sale of a partnership interest and the effects of §734(b) Exploring the alternatives to electing a basis adjustment Understanding a distribution of property and when an inside basis adjustment can be considered Studying examples dealing with sale of assets vs. sale of partnership interests and issues with hot assets Finding out how to keep track of the “books” for tax preparers when the inside basis adjustment is made, and how to flow through adjustments through a tax return and K-1

Key concepts of trusts, including recent trends; best practices; jurisdiction; and ways to avoid pitfalls Decanting Federal estate tax exemption and remaining relevance of trusts Irrevocable life insurance trusts The role of family dynamics Choice of trustee and other fiduciaries State trust-friendly considerations Charitable trusts Delaware Statutory Trusts Powers of attorney  Pet Trusts – the emerging necessities State, county, and local issues Portability QTIP issues Creditor considerations Potential IRA problems Problems with re-titling assets

What is ransomware? The growing threat of ransomware — statistics Remote working and COVID-19 Ransomware infection process Incident response protocol Business considerations Legal considerations Breach notification obligations Steps to protect against malware Tabletop exercise

Private company standard setting activities FASB Accounting Standards Updates Revenue recognition Leases Credit losses

Recently issued FASB Accounting Standards Updates, PCC Update and items on the FASB's Technical Agenda Leases -- Topic 842 Financial accounting and reporting considerations related to Going Concern Recently issued SASs and other AICPA activity SSARS No. 21, Clarification and Recodification and other recently issued SSARS Peer review and other audit quality issues Other important A&A practice matters

Recently issued FASB Accounting Standards Updates, PCC Update and items on the FASB's Technical Agenda Leases -- Topic 842 Financial accounting and reporting considerations related to Going Concern Recently issued SASs and other AICPA activity SSARS No. 21, Clarification and Recodification and other recently issued SSARS Peer review and other audit quality issues Other important A&A practice matters

AICPA hot topics and standard setting initiatives Discussion of new standard on audit evidence, SAS 142, effective for years ended December 31, 2022 Discussion of new standards on auditing accounting estimates, use of specialists, and the risk assessment process, SASs 143–145, effective for years ended December 31, 2023 Recent updates to the AICPA’s Code of Professional Conduct Recently issued or proposed updates to other AICPA professional guidance

Private company standard setting activities Recent FASB Accounting Standards Updates (ASUs) Topic 842, Leases Topic 326 on Impairment Lessons learned and sustainment efforts related to Topic 606

Private company standard setting activities Recent FASB Accounting Standards Updates (ASUs) Topic 842, Leases Topic 326 on Impairment Lessons learned and sustainment efforts related to Topic 606

ASU No. 2016-02, Leases (Topic 842) Implementation challenges in adopting ASC 842 Common pitfalls and errors in applying ASC 842 Best practices in implementing ASC 842 Use of lease accounting software for successful implementation and ongoing accounting

Critical concepts related to applying the Yellow Book, including when the standards are applicable; the types of engagements involved; and the relationship between the Yellow Book and other standards The Yellow Book standards related to ethics; independence; professional judgment; competence and CPE; quality control; and peer review The Yellow Book requirements related to performing and reporting on financial audits and how those requirements affect the audit in areas like internal control