CPE Catalog & Events

California property taxation updated in light of Proposition 19 passage Qualified business income deductions [IRC Sec. 199A] Opportunity zone deferral related to real estate [IRC Sec. 1400Z-2] Passive activities loss rules [IRC Sec. 469] Real estate professional rules [IRC Sec. 469(c)(7)] Interest expense deduction rules [IRC Sec. 163] Home sale exclusion [IRC Sec. 121] 1031 exchanges Estate planning and gifting with real estate

Explanation of legislation enacted in 2025 along with reminders for 2024 from legislation of recent years California tax law changes Income inclusions, exclusions and deductions Property transaction updates Passive activities, hobbies and other losses Guidance and planning on energy credits Significant IRS developments affecting practice and compliance procedures California's major developments for individuals and conformity to federal law changes for 2025 Filing status, credits and retirement plan developments Expired and expiring provisions Inflation adjustments for 2026 Due diligence and planning reminder

Audit planning Risk assessment and control testing Documentation best practices for investments and notes receivable Key audit areas in the financial statements, such as contributions, benefit payments, and plan expense Participant data and participant accounts Initial audits, plan mergers, and other issues

Legislative developments A full chapter devoted to determining the best planning options for maximizing joint Social Security benefits Retirement benefits: Amount of benefits in various circumstances; how the amounts are distributed within the family unit Qualification: Has the client retired? How business entities may be used for Social Security advantage Income taxation of Social Security: avoidance tactics Spousal benefits: Should a spouse return to work? What benefits does a spouse have and when and how do they relate to benefits decisions by the client? When can hiring the spouse increase overall benefits?  Why should both spouses qualify for survivor benefits? Disability benefits When to start Social Security benefits: Advantages and disadvantages at ages 62, full retirement age, and 70 Coordinating benefits: Should you take Social Security first and higher-balance IRA distributions later, or take IRA balances first and enhanced Social Security benefits later? Pensions: Distribution strategies; how to use the minimum distribution rules in concert with Social Security benefits IRAs: Is it time to convert to a Roth? Medicare, Part D prescription drugs: what retirees need to know

What’s NEW for this year – Items all practitioners must know  Form 1040 and Schedules 1 – 3 1099-K reporting requirements  Qualified Business Income -- Coverage of §199A including the real estate safe harbor  A tour of the most recent forms changes, starting from gross income and ending with selected credits, including the latest IRS guidance on significant recent tax legislation  How will clients (and practitioners) interact with IRS in the future and how the pandemic is steering the IRS to ramp up with digital communication efforts  Hot developments and current areas of interest  Virtual Currency and Digital Asset Taxation  Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas  Form 6198 -- At-risk basis: Detailed case study and discussion of how this form is to be used and when it needs to be filed; learn how basis and at-risk basis are different, and why this is significant  Form 6252 -- Installment sale income: A common tax area; however, a case study and discussion of this topic includes advanced issues such as gain on reacquisition of installment sale property, including worksheets on calculating gain & tax basis of reacquired property  Form 5329 -- Additional taxes on qualified plans: Advanced study of how to avoid penalties 

The major topics that will be covered in this class include:Discuss the impact of the Section 199A flow-through entities deduction on partnerships and their partnersThe meaning of a "tax basis capital account"How the financial accounting and tax capital accounts differ from one anotherDetermine a partner's share of the partnership's liabilitiesDistinguish "recourse" loans from "nonrecourse" loansWhat are "qualified nonrecourse financing" loans and how they affect partnersSection 704 "built-in gain or loss" rules and how they impact Schedule K-1 reportingSection 4655 "at risk" rules and how they impact Schedule K-1 reporting

Identifying a consulting specialty Building a practice and translating knowledge into products Managing consulting projects Marketing consulting projects Building a referral network Contingent fees Professional standards for consultants

Team dynamics Influence Organizational behavior Leadership

Documentary evidence gathering and analysis Site visits Surveillance Analysis by comparison and contrast Analysis by quantifying and connecting Analysis by identifying patterns Written reports Testifying

Forensic Accounting Accounting Auditing Finance

Best practices for fraud prevention and detection Common fraud schemes in nonprofit and government entities including cash misappropriation, payroll fraud, vendor fraud, falsified billings, improper use of credit cards or purchase cards, the redirection of cash and non-cash contributions, personal use of assets, the redirection of grant benefits, other grant related fraud, travel and expense reporting fraud

International cross border transactions.    Decrease an entities effective tax rate.  IRS audit risk 

Tax rules governing liquidation of a partnership or S corporation Tax treatment of the shareholder/partner/member receiving a liquidating distribution in an S corporation liquidation/partnership liquidation Tax impact on the pass-through entity when the entity is liquidated Receipt of corporate liabilities in an S corporation distribution Proportionate, liquidating partnership distributions to partners, and gains and losses to a partner on a liquidating partnership distribution Tax issues associated with a partnership distribution of noncash properties in a liquidation Compliance requirements on the occasion of a liquidation of a corporation or a partnership

Overview of virtual currency Property transactions with virtual currency Receiving virtual currency as payment Paying using virtual currency Charitable donations with virtual currency Gifting of virtual currency Form 8300 reporting

The primary purpose of workpaper documentation, and minimum documentation requirements for workpaper preparers   Best practices for documenting complex and subjective procedures and conclusions, such as estimates, substantive analytic procedures, etc. that impact the nature and extent of audit documentation needed to support audit conclusions Discussing the financial statement audit risk concept, including how proper application better ensures a higher quality audit Tips for an efficient workpaper review process that complies with relevant standards 

The major topics that will be covered in this class include:Tour of the Power BI Desktop Interface: Understand the layout, tools, and features of Power BI Desktop.Tour of PowerBI.com Interface: Familiarize with the online environment of Power BI for report creation.Importing Power Pivot Data Model: Understand how to integrate Power Pivot models into Power BI for more complex data analysis.Building Visuals: Learn the step-by-step process to create compelling visuals and understand the importance of visual context in data storytelling.Review of Available Visuals: Explore the variety of visuals available in Power BI and their appropriate applications.Power BI Desktop Features: Delve into the advanced features of Power BI Desktop, enhancing data manipulation and visualization capabilities.Building Interactivity into Visuals: Learn to create dynamic and interactive reports that engage and inform.Publishing Reports to PowerBI.com: Gain skills in uploading and managing reports on PowerBI.com for wider access and collaboration.

Accounting Standards Updates Auditing & Accounting Yellowbook

Discover the fundamental differences in the auditor's responsibilities between financial statement audits performed in accordance with the SASs and Yellow Book  Understand risk assessment factors above those associated with a financial statement audit only Learn what must be done beyond the financial statement audit in order to issue required Yellow Book and Single Audit reports on internal controls and compliance Master designing, performing and documenting effective and efficient tests of compliance requirements Practice identifying, documenting and communicating the impact of internal control deficiencies and compliance audit findings to the client Common peer review deficiencies

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 Impact of Soroban Capital Partners LP, 161 TC No.12

The major topics that will be covered in this course include:Overview of AI technology and how it works.Identify where AI can be incorporated into the 1040 process.Using ChatGPT and Microsoft 365 Copilot for 1040 tax research, analysis and communications.Using StanfordTax AI based software to automate client source document collection and organization and integrate it with the leading 1040 tax software solutions including CCH Axcess, CCH ProSystem fx, UltraTax, Lacerte, ProSeries and Drake.A roadmap for using AI to improve client communications and 1040 based advisory services.