CPE Catalog & Events

Cyber risks: prompt injection, drift, model manipulation, data leakage Red-teaming and simulation exercises (CSA, IBM frameworks) Controls mapping: COSO, SOX, and NIST AI RMF Regulatory context: GDPR, CCPA, EU AI Act, SEC guidance Platform security discussion and comparisons

Examine real-world misappropriations of cash, check frauds, vendor scams, credit card abuse, grant frauds, benefit schemes, inventory thefts, and payroll frauds Consider and develop controls to stop fraud Tailor controls to the size and fit of the government or nonprofit

Examine real-world misappropriations of cash, check frauds, vendor scams, credit card abuse, grant frauds, benefit schemes, inventory thefts, and payroll frauds Identify and develop practical controls to prevent and detect fraud Tailor controls to the size and fit of the government or nonprofit

SSARS No. 21, Clarification and Recodification, and updates to SSARS No. 21 due to the issuance of SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services SSARS No. 22, Compilation of Pro Forma Financial Information SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services – 2018 SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions SSARS No. 26, Quality Management for an Engagement Conducted in Accordance with Statements on Standards for Accounting and Review Services SSARS No. 27, Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement Sample comprehensive engagement work programs for preparation, compilation, and review engagements

SSARS No. 21, Clarification and Recodification, and updates to SSARS No. 21 due to the issuance of SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services SSARS No. 22, Compilation of Pro Forma Financial Information SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services – 2018 SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions SSARS No. 26, Quality Management for an Engagement Conducted in Accordance with Statements on Standards for Accounting and Review Services SSARS No. 27, Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement Sample comprehensive engagement work programs for preparation, compilation, and review engagements

Introduction to Form 7203 Introduction to the calculation of stock basis Introduction to the calculation of loan basis Taxable and nontaxable S corporation distributions to shareholders The election to reduce basis by deductible losses and expenses before reducing basis by nondeductible expenses

How a partner’s outside basis and capital account differ Reconciling Schedule M-2 Form 1065 with Partnership K-1 Schedule L IRS requirement to report partner tax basis on the transactional approach Implications if a capital account is negative Deficit restoration accounts and qualified income offsets Modified outside basis method and modified previously taxed capital method Determining a partner’s beginning capital account  Beginning capital account for partnerships and partners consistently reporting on the tax basis The two types of adjustments under 754 and how 743 and 734 require different capital account presentations

Statutory employees, independent contractors, and possible changes to §530 relief Using SS-8 Payroll Tax Penalties -- Who is a responsible person? Forms W-2, 1099, 1099-NEC, SS-8, W-4, 941, and Form 940 reporting/deposit requirements and due dates Understanding payroll tax responsibilities in the gig economy

Statutory employees, independent contractors, and possible changes to §530 relief Using SS-8 Payroll Tax Penalties -- Who is a responsible person? Forms W-2, 1099, 1099-NEC, SS-8, W-4, 941, and Form 940 reporting/deposit requirements and due dates Understanding payroll tax responsibilities in the gig economy

Basis and at-risk basis How to calculate the amount of annual at-risk basis Forms 6198 and 7203 When activities may be aggregated for at-risk purposes Qualified nonrecourse financing

Quality management standards SAS 146, SSARS No. 26, and SSAE 23 Risk assessment, which forms the basis of the SQM Monitoring and evaluating the SQM

Topic 606, Revenue from Contracts with Customers, including recently issued ASUs impacting Topic 606 The FASB’s new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance Presentation and disclosure requirements Accounting considerations related to COVID-19-driven changes to revenue recognition processes Lessons learned and best practices for improving business processes related to revenue recognition going forward

Topic 606, Revenue from Contracts with Customers, including recently issued ASUs impacting Topic 606 The FASB’s five-step revenue recognition model, including hands-on examples and illustrations of the new guidance Presentation and disclosure requirements Accounting considerations related to geopolitical events and changes to revenue recognition processes Lessons learned and best practices for improving business processes related to revenue recognition going forward The results and findings of the final (stage 3) FASB PIR Report addressing ASC 606

Timely coverage of breaking tax legislation Applicable coverage of any basis considerations within any recent tax legislation   Passthrough basis calculations required as attachments to certain individual returns  Executor’s form for disclosing basis in certain distributed property; what about the basis of a property distribution from a trust?  How §179 limitations affect basis and how tax-benefit rule is applied  Basis implications of personal assets converted to business use  How to calculate basis of inherited qualified and joint tenancy property  Tax basis capital account reporting requirements  S corporations: Beware of final IRS regulations regarding “open debt”; determine how to calculate basis; worksheets are included; understand the effect of stock basis and debt basis and IRS’s recent focus on “at-risk basis” for shareholders; recognize how AAA applies or doesn’t apply to S corporations; learn to apply the complex basis ordering rules and special elections that can have a big tax result; discuss loss limitation rules in depth; when you can have a taxable dividend in an S corporation; understand distributions of cash and property; understand the post-termination transition rules, and temporary post-termination rules for eligible corporations, which will be important for S corps returning to C corps  LLCs and partnerships: Learn the detailed rules of §704 for preventing the shifting of tax consequences among partners or members; learn to calculate basis under §704 & for “at-risk” under §465; recognize how recourse, nonrecourse, and qualified nonrecourse debt can create significantly different tax results; learn the difference between basis and “at-risk basis”; review §754 step-up in basis rules; the economic effect equivalence test or “dumb-but-lucky” rule; learn to apply the complex rules of distribution of cash vs. property, and the basis treatment of charitable contributions and foreign taxes paid 

Timely coverage of breaking tax legislation Applicable coverage of any basis considerations within any recent tax legislation   Passthrough basis calculations required as attachments to certain individual returns  Executor’s form for disclosing basis in certain distributed property; what about the basis of a property distribution from a trust?  How §179 limitations affect basis and how tax-benefit rule is applied  Basis implications of personal assets converted to business use  How to calculate basis of inherited qualified and joint tenancy property  Tax basis capital account reporting requirements  S corporations: Beware of final IRS regulations regarding “open debt”; determine how to calculate basis; worksheets are included; understand the effect of stock basis and debt basis and IRS’s recent focus on “at-risk basis” for shareholders; recognize how AAA applies or doesn’t apply to S corporations; learn to apply the complex basis ordering rules and special elections that can have a big tax result; discuss loss limitation rules in depth; when you can have a taxable dividend in an S corporation; understand distributions of cash and property; understand the post-termination transition rules, and temporary post-termination rules for eligible corporations, which will be important for S corps returning to C corps  LLCs and partnerships: Learn the detailed rules of §704 for preventing the shifting of tax consequences among partners or members; learn to calculate basis under §704 & for “at-risk” under §465; recognize how recourse, nonrecourse, and qualified nonrecourse debt can create significantly different tax results; learn the difference between basis and “at-risk basis”; review §754 step-up in basis rules; the economic effect equivalence test or “dumb-but-lucky” rule; learn to apply the complex rules of distribution of cash vs. property, and the basis treatment of charitable contributions and foreign taxes paid 

Be familiar with the nature and sources of difficult behaviors in the workplace, as well as strategies for addressing them Understand a proven formula for handling difficult people Utilize a problem-solving model to brainstorm strategies for working effectively with challenging individuals Implement a step-by-step process to resolve conflicts between yourself and others within your organization Apply the hostility curve as a tool to maintain control in situations involving angry or upset individuals Implement new strategies for managing your emotions in difficult interactions Understand the impact of attitude on interactions with others Create a personalized action plan for applying course strategies in your workplace

Calculating the home office deduction Actual expense method Simplified expense method Definition of a home for purposes of the home office deduction Whether working-from-home employees can claim a home office deduction What is a “separate, identifiable space?” The “regularly and exclusively used” rule Defining a “principal place of business” Meeting clients, patients, and customers More than one trade or business Special rules that apply to daycare providers Separate, free-standing structures Depreciating the home

Criteria that the IRS uses to select returns for examination Recognizing the 30-day letter and the 90-day letter, including what the taxpayer’s responsibilities are What to do when there is tax-related identity theft Understanding substantiation requirements for travel, charitable contributions, vehicles, meals, virtual currency considerations, and tax-related identity theft Gaining an in-depth understanding of IRS hot examination issues including passive loss rules, real estate professional status, and the Section 199A provisions as they pertain to rental real estate Identify how the IRS holds persons other than an employer liable for unpaid payroll taxes, a.k.a., the trust fund recovery penalty Understanding IRS Audit Techniques Guides and Compliance Campaigns Distinguishing an S corporation officer’s reasonable compensation issues

Why the IRS selects a tax return for audit What happens when the taxpayer disagrees with the results of the audit IRS employees who interact with taxpayers during an audit FATCA audits Types of IRS examinations Potential IRS audit outcomes Substitute for returns Large Partnership Compliance Program IRS’s shift in audit strategies Responding to IRS Notices online Audits of high income and high net-worth individuals The Bipartisan Budget Act of 2015 (BBA) and its impact on auditing partnerships IRS Letters of Concern

Issues involved when settling an estate – marshaling of assets, payment of creditors, and distribution and accounting to beneficiaries Explaining the needs and limitations of durable powers of attorney, health care directives, and living wills Why a will is probated, and on what grounds it may be challenged Comprehensive checklists on how to read a will, duties of an executor and trustee, and much more Identification and report of estate assets What to do and what not to do as a fiduciary, executor, or trustee – duty of care, investment, informing, payment of debts and taxes, & defending a will contest How executors and trustees interact with beneficiaries Elective shares, and when a spouse might make that choice What a trustee needs to know about incompetents and minors Rights of creditors, third parties, and beneficiaries Key issues in transferring property to a trust and from a trust or estate to a beneficiary Identifying income, estate, and inheritance taxes Fiduciary accounting – principal and income concepts An introduction to drafting an account, and why it is relevant Administration of revocable trusts Estate basis reporting