CPE Catalog & Events

Survey of the 46 jurisdictions with PTET legislation and the six that don’t (yet) (4 states new in 2023 and at least 3 more expected) Do’s and don’ts on making the PTET election Seven (at least) reasons to not make a PTET election Upsides and downsides of it all – Checklists, checklists, checklists Two tier analysis as to whether to elect: The thinking process Timing, timing, timing – Cash vs. accrual and all the hoopla over deducting PTET in a prior year   Sticky wickets in the event of S Corps, trusts (or estates) or C Corps as owners of PTEs Risk of making PTET election: Double state taxation  No second chances on making a PTET election: Except for states that allow amended returns Tax benefit rule and whether refunded PTETs are taxable  PTEs operating in multiple states: Let the excitement begin  Special basis adjustment issues for state vs. fed  SALT deductibility through 2025, AMT and whether PTETs are permanent  Introductory thoughts on presenting PTET on financial statements  A keen look at existing guidance from IRS and the likely future of it all 

Accounting Profession Update Economic Update Oregon Board of Accountancy Update Oregon Legislative Update

Analysis of the “Preparation of Financial Statements” standards as amended by SSARS 26 with detailed implementation guidance. Analysis of the “Compilation” standards as amended by SSARS 26 with implementation guidance. Analysis of the “Review” standards as amended by SSARS 26 with detailed implementation guidance. Common mistakes made in SSARS engagements as identified in peer reviews and in litigation.

Initial Corporate Transparency Act filings. Entities formed before 2024. Entities formed on January 1, 2024 or later. When updated filings are required. How to file the forms. Penalties for not filing.

How to identify ethical issues involved in making professional accounting decisions How to recognize the considerations in analysis and resolution of ethical dilemmas How to apply ethical rules and guidelines to public accounting situations How have the Oregon State Courts interpreted our standards? CPA responsibilities and conduct described in the AICPA and Oregon State Board of Accountancy laws, rules, and Code of Ethics Learn about Oregon's unique legal (and ethical) position on a CPA's potential client breach of fiduciary duty

Identify the applicability of the Corporate Transparency Act to an advisor's clients Understanding which entities are now required to disclose owner information Understand the reporting requirements of the Corporate Transparency Act Understanding what entities are subject to the exceptions to the Corporate Trenchancy Act Understanding the penalties for noncompliance Understanding the final rules and regulations that were recently established

Topics include but are not limited to: Discuss the most recent individual income tax legislation passed to date (e.g., American Rescue Plan Act, SECURE Act, CARES Act and COVID-related Tax Relief Act, Taxpayer Certainty & Disaster Relief Act and Tax Cuts & Jobs Act) 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, Section 461(l) business loss limitations, Section 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) Look at any changes to the Form 1040 and other related schedules and forms 

Topics include but are not limited to: Discuss the most recent business income tax legislation passed to date (e.g., American Rescue Plan Act, SECURE Act, CARES Act and COVID-related Tax Relief Act, Taxpayer Certainty & Disaster Relief Act and Tax Cuts & Jobs Act) Review numerous business income tax provisions including but not limited to the 20% qualified business income (QBI) deduction; changes to NOLs, Section 461(l) business loss limitations, Section 163(j) business interest deduction limitations, accounting method changes, depreciation, fringe benefits and entertainment expenses Brush up on issues related to compensation, distributions, liquidations, self-employment taxes and retirement plans Look at any changes to the Forms 1120, 1120S, and 1065 and other related schedules and forms

AICPA Code of Conduct Oregon Board rules New national and state developments Conflicts of interest and subordination of judgment Objectivity and integrity

Technology threats Opportunities for development Vulnerabilities and risk mitigation Learning opportunities

Discover new tax developments at the state and local level. Important issues that impact you and your clients will be discussed! More details coming soon! OSCPA is pleased to welcome OAIA members. Registration information is below: Click "Add to Cart" Select member option (OAIA Member, OSCPA Member or Other) Select materials option (paperless or hard copy (print)) Click "Checkout" OAIA Members - in cart, top right "Promotion Code" box: Enter the "MEMRATE" promo code. This will apply the member rate. Login (or create a guest account) to complete checkout If you have successfully registered, you will receive a confirmation within 24 hours

Discover new tax developments at the state and local level. Important issues that impact you and your clients will be discussed! More details coming soon! OSCPA is pleased to welcome OAIA members. Registration information is below: Click "Add to Cart" Select member option (OAIA Member, OSCPA Member or Other) Click "Checkout" OAIA Members - in cart, top right "Promotion Code" box: Enter the "MEMRATE" promo code. This will apply the member rate. Login (or create a guest account) to complete checkout If you have successfully registered, you will receive a confirmation within 24 hours

Topics include: Extensive review of the individual income tax laws with an emphasis on any new legislative changes Dissecting the Form W-2, 1099s and Schedule K-1s Form 8995 - Qualified Business Income (QBI) deduction Schedule A - allowable itemized deductions and phase-out rules Schedule B - interest and dividend income Schedule C and F - trade or business income and deductions Form 4562 - depreciation and amortization including Section 179 Schedule D - sale of capital assets and personal residences Form 4797 - sale of trade or business property including the ordinary income recapture rules under Section 1245 and Section 1250  Schedule E - rentals, passive activities, and flow through entities Other gross income items including alimony, state and local refunds, IRA and pension distributions, unemployment compensation and social security benefits Adjustments to gross income including IRAs, SEPs, student loan interest and self-employed health insurance Calculate regular tax liability (Schedule D), alternative minimum tax (AMT) (Form 6251) and self-employment tax (Schedule SE) Overview of selected income tax credits (e.g., child tax credit, child and dependent care expense credit and the education credits)

Topics include: Extensive review of the individual income tax laws with an emphasis on any new legislative changes Dissecting the Form W-2, 1099s and Schedule K-1s Form 8995 - Qualified Business Income (QBI) deduction Schedule A - allowable itemized deductions and phase-out rules Schedule B - interest and dividend income Schedule C and F - trade or business income and deductions Form 4562 - depreciation and amortization including Section 179 Schedule D - sale of capital assets and personal residences Form 4797 - sale of trade or business property including the ordinary income recapture rules under Section 1245 and Section 1250  Schedule E - rentals, passive activities, and flow through entities Other gross income items including alimony, state and local refunds, IRA and pension distributions, unemployment compensation and social security benefits Adjustments to gross income including IRAs, SEPs, student loan interest and self-employed health insurance Calculate regular tax liability (Schedule D), alternative minimum tax (AMT) (Form 6251) and self-employment tax (Schedule SE) Overview of selected income tax credits (e.g., child tax credit, child and dependent care expense credit and the education credits)

Disposition of real property, including Section 1031 exchanges, contributions of real property, and involuntary conversions  Forms of ownership  Organization and syndication costs  Contribution of property with built-in gain or loss  Disguised sales  real property  Identifying assets  Depreciating real property  Sale and disposition of real estate  Tax treatment of lease activity  The complexities of Section 467 lease arrangements  Passive activity, tax basis, and at-risk basis limitations  Planning techniques to reduce taxes upon disposition of real property  Understand the complexities of the Opportunity Zone Fund regulations

Important new case from the Supreme Court on foreign bank account penalties. Common circumstances that result in S corporation terminations (including how to fix mistakes). A new case from the Tax Court on an S corporation that triggered large gains from constructive distributions.  Crucial legislative developments like the SECURE Act 2.0, including newly available Roth contributions to SEP-IRAs and SIMPLE IRAs. We will also cover changes to required minimum distributions.  New administrative releases including revenue rulings, revenue procedures and notices.

Important new case from the Supreme Court on foreign bank account penalties. Common circumstances that result in S corporation terminations (including how to fix mistakes). A new case from the Tax Court on an S corporation that triggered large gains from constructive distributions.  Crucial legislative developments like the SECURE Act 2.0, including newly available Roth contributions to SEP-IRAs and SIMPLE IRAs. We will also cover changes to required minimum distributions.  New administrative releases including revenue rulings, revenue procedures and notices.

This conference will cover a general overview of current developments in governmental auditing and accounting, and will provide the knowledge that governmental auditors need! More details coming soon!