CPE + Events Catalog

Discuss the calculation of basis when the entity is formed including the impact of contributed property Explain the importance of shareholder loans to the entity Schedules K-2 and K-3 S corporation losses and how they impact Form 1040 Schedule E reporting Show how to get from the Schedule K-1 information to the basis calculations Comprehensive example to illustrate the mechanics of the basis determination process

The major topics covered in this class include:Various types of penalties: Accuracy related, fraud, understatement of valuation, reporting requirement, failure to pay, and pay or deposit penaltiesRules on waiver of penalties and interestsVarious forms and procedures for requesting reliefFirst Time Abatement: Requirements and proceduresHow an individual taxpayer qualifies for Reasonable Cause abatementProcedures for requesting refund of paid penaltiesAvailable administrative options

The following topics will be covered in this course:Navigating the OneNote interfaceBest practices for notebook organizationLearn how to add pictures, graphic content, tables, file links, email messages, appointment links and more to your notebooksUsing OneNote with OneDrive to share and collaborate with internal and external usersCreating and using templates to streamline your notebook managementIntegrating OneNote with your task managerUsing the power of tags to manage and search your contentUsing OneNote on your tablet and smartphone

How the effect of a misstatement due to error effects the scope of our audit vs a misstatement due to fraud Inquires of management .... and others The audit planning process; when we start and when we stop The importance of brainstorming and what two things should a talk about Revisions of our risk assessment Determining materiality

Using formulas to manipulate and transform data Using formulas and reference formulas such as =VLOOKUP Using pivot tables Understanding Solver to perform multivariate analysis Awareness of advanced functions Creative methods for data manipulation Using intellectual curiosity and professional skepticism to develop a problem-solving mentality Real-life examples of innovative ways to analyze and report data with Excel Using Excel to perform e-mail merges Enhance creativity in your approach to developing Excel models Computer software and application

Rethinking Risk Management: Historic view Challenges Rules Recent lessons Required skills Sources of Risk: Economy Competitors Operations Investments Strategy Compensation Routine practices Unethical behavior. Enterprise Risk Management (ERM): Defining ERM Areas of focus Implementation Planning for disasters Business continuity Contingencies Analytical Tools: Post-completion evaluations Simulation Z-score Hedging Brainstorming Mind mapping Delphi technique

Definition, pros and cons of being a real estate professional Integration of the real estate professional rules with reporting on Form 1040, Schedule E Real estate professionals and indirectly owned (partnerships, S corporations) entity's reporting on Form 1040 How "real estate business" is interpreted under the Section 199A rules and how it integrates with the passive activity rules Real estate professionals and the Form 8582 (Passive Activities) Definition of self-rental property - both for Sections 199A and 469 Self-rental property and the Form 8582 (passive activity), the flow-through entity grouping election, and "former passive activities" rules A deep-dive look at the Section 199A flow-through entities deduction Application to rental real estate - "safe harbor" rule and aggregation rules Self-rental rule for 199A compared to self-rental rule for passive activities Forms reporting in Form 8995 and Form 8995-A Several real-life situations illustrate the various possibilities and discuss the consequences of failing to comply with the reporting standards

The Roth conversion evaluation process Impact of (likely to pass) proposed legislation on IRAs Exploring how the SECURE Act's 10 year rule decimates most estate plans Most IRA trusts don't work anymore - Roths to the rescue Benefits and pitfalls of a Roth conversion Projecting income tax on conversions - The many impacts of the game Extraordinary Roth IRA estate planning/estate tax advantages now and later The beauty of no income tax at retirement (will I run out of money?) How to avoid paying too much tax on a Roth conversion The permanent nature of a Roth conversion (the hard TCJA hand slap) IRA conversion myths to promptly dispose of Know that you know when to move your checker on the board

Inflation Reduction Act of 2022 The new 15% corporate AMT Electric Vehicle Credits Clean Commercial Vehicle Credits 1% tax on the repurchase of corporate stock Excess Business Losses Clean Energy Tax Credits Energy Efficient Home Improvement Credit Energy Efficient Commercial Buildings Deduction (Section 179D) New Credits Research Credits for Small Businesses Excise Taxes on Fossil Fuels Green Property Depreciation Additional Funding for the IRS Transfers of certain credits to an unrelated transferee Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act of 2022

An overview of the fringe benefit planning process Understanding the needs of the business owner Understanding the needs of the employees Options under IRC 132 fringe benefit plans Automobile issues Disability issues Dependent care issues Medical issues Long-term care issues Life insurance issues Education issues Expense reimbursement issues Cafeteria plan issues

Auditing Fraud