Individual Courses

How do Ethics play into your role of engaging, maintaining, and terminating client relationships? Explore the answers to these questions with Susan Harper, Certified Fraud Examiner, and former IRS Internal Revenue Agent of 34 years. This course will take you full circle as we explore your ethical role when considering whether to engage, as well as terminate a client. With 20 years of instructing CPE courses, Susan will deliver an entertaining and informative discussion to address the importance of both engagement and termination letters and the various issues which arise in the middle of the two while maintaining those client relationships.

Publication Date: May 2024

Topics Covered

• Engaging the Client
• Maintaining Ongoing Client Relationships
• Terminating the Engagement
• Case Studies

Learning Objectives

• Identify how to address what to consider before engaging a client
• Identify the key components to an engagement letter and its importance
• Identify how to maintain ongoing client relationships
• Identify how to address reasons to potentially terminate a client
• Identify the key components to a termination letter and its importance
• Identify case scenarios

A variety of rules place ethical constraints on the advice that tax practitioners can give clients. This course covers statutory, regulatory and ethical standards governing those who practice in the tax field, emphasizing current issues in the application of the rules of professional conduct, Circular 230 (governing those admitted to practice before the Internal Revenue Service), and provisions of the Internal Revenue Code and the Treasury Regulations governing return preparers.

Publication Date: July 2023

Designed For
Tax practitioners at all levels who advise clients on tax positions.

Topics Covered

• Circular 230
• Rules of professional conduct applying to tax professionals
• Preparer penalty rules

Learning Objectives

• Recognize who is a preparer for the preparer penalty rules and what penalties may apply to tax return preparers
• Describe the requirements of Circular 230 and what is a covered opinion
• Identify intersection of state professional conduct rules and IRS Office of Professional Responsibility rules
• Identify common ethical pitfalls arising in tax practice
• Identify an ethical obligation of a practitioner to the government
• Identify the subpart of Circular 230 that regulates the duties and restrictions relating to practice before the IRS

This two-hour course, the first in the 1040 Preparation and Planning series, provides an overview of Form 1040 and 1040-SR, including the different sections of the forms and major schedules. It also covers in general, gross income, exclusions, tax liability, tax credits, and tax payments. Tax developments reflected in this course, including the Consolidated Appropriations Act, 2023 (which includes SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decisions, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier, open years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Tax Returns for Individuals
• Purpose of the Income Tax Return
• Estimated Tax—Another Collection Method
• Purpose of the Income Tax Return - Payments on Account
• Major Schedules
• IRS Forms Supplementing the Return
• Who Must File a Return?
• Who Must File a Return: Dependents
• Single Dependents
• Getting Started on Preparing a Return - Recordkeeping Techniques, Assembling Information, and Forms and Schedules
• Gross Income
• Fundamental Tax Rules
• Exclusions
• Deductions from Income
• Itemized Deductions—2018-2025
• Exemptions
• Taxable Income
• Standard Deductions — Basic Amounts for 2023
• Tax Liability
• Tax Credits—Dollar-for-Dollar Reduction of Tax Liability
• Refundable Tax Credits
• Nonrefundable Tax Credits
• Tax Payments
• Paying Taxes
• Tax Refunds
• Filing Deadlines
• Third Party Designee
• E-Filing the Return
• Signature Requirements and Options
• Sending Paper Returns
• Filing Electronically
• Tax Accounting - Accounting Periods and Methods
• Taxable Year
• Methods of Accounting
• Cash Basis
• Use of Cash Method by Small Businesses
• Accrual Basis
• Other Accounting Methods
• Change in Accounting Methods
• Automatic Consent

Learning Objectives

• Describe the basic federal income tax structure
• Identify who is required to file a return
• Describe the basic parts of the income tax return
• Describe payment options for taxes owed
• Describe the concepts of tax year and accounting method

This two-hour CPE course, which is the 10th in the 1040 Preparation and Planning series, addresses the alternative minimum tax, employment taxes for the self-employed and household employees, the net investment income tax, and the additional Medicare taxes. It also discusses the recapture of the first-time homebuyer credit. The kiddie tax, which isn’t an additional tax but a way of computing tax for certain children, is discussed in 1040 Preparation and Planning 12: Figuring tax and Making Tax Payments. Tax developments reflected in this course, including the Consolidated Appropriations Act, 2023 (including SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decision, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Alternative Minimum Tax
• Self-Employment Tax
• Additional Medicare Tax on Earned Income
• Net Investment Income Tax

Learning Objectives

• Identify adjustments and preferences for the AMT
• Compute the alternative minimum tax
• Determine who is subject to self-employment tax
• Figure net earnings from self-employment and the self-employment tax
• Compute the additional Medicare tax on earned income
• Specify the types of investment income subject to the net investment income (NII) tax
• Compute the NII tax

This two-hour CPE course, which is the 11th in the 1040 Preparation and Planning series, covers types of tax credits, including refundable and nonrefundable tax credits; figuring each type of personal tax credit; which credits are reported directly on the return and which must first be reported on Schedule 3 of Form 1040 and 1040-SR; and business tax credits. Tax developments reflected in this course, including the Consolidated Appropriations Act, 2023 (including SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decision, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Overview of Tax Credits
• Premium Tax Credit
• Earned Income Credit
• Income Limits
• Child and Dependent Care Expenses
• Credit for Child and Dependent Care Expenses
• Child Tax Credit
• American Opportunity Credit and Lifetime Learning Credit
• Adoption Credit
• Retirement Savings Contributions Credit (Saver's Credit)
• Energy Credits for Homeowners Act 13301
• Older Energy Efficient Residential Improvements
• Qualifying Heat Pumps and Wood Stoves
• New Credit — Overall Ceilings
• New Credit — Subceilings
• Is the Credit Limited to Your Principal Residence?
• Energy Efficiency Standards Change in 2023
• Solar Panels — An Oasis of Simplicity
• Other Residential Credit (Solar) — More Complicated
• New Clean Vehicle Credit (EVs)
• Clean Vehicle Rules May Change
• Used Car EV Credit
• Commercial EVs
• Mortgage Interest Credit
• Minimum Tax Credit
• Credit for the Elderly or the Disabled
• Foreign Tax Credit
• General Business Credit
• Rehabilitation Credit
• Work Opportunity Credit
• Employer Credit for FICA on Tips
• Tax Credit for Increasing Research Activities
• Low-Income Housing Credit
• Disabled Access Credit
• Small Employer Pension Plan Startup Credit
• Auto-Enrollment Option in Retirement Plans Credit
• Business Energy Credits

Learning Objectives

• Distinguish between refundable and nonrefundable credits
• Figure each type of personal tax credit
• Determine where credits are reported on the tax return
• Identify business tax credits and understand the limitations under the general business credit

This one-hour CPE course, which is the 12th and final course in the 1040 Preparation and Planning series, examines figuring tax liability and making tax payments. In addition to figuring taxable income, the course will walk through the computations for lump-sum distributions, figuring kiddie tax, and other tax computation issues. It also examines various ways in which tax liability is paid, through income tax withholding, estimated tax payments, and tax credits, as well as post-filing options. Tax developments reflected in this course, including the Consolidated Appropriations Act, 2023 (including SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decision, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Tax Computation
• Dividends and Capital Gain Tax Worksheet to Figure Tax
• Kiddie Tax
• Parent's Election to Report Child's Investment Income
• Paying Income Taxes
• Tax Payments
• Post-Filing Payment Options

Learning Objectives

• Explain how to figure taxable income
• Determine whether Schedule D, a separate worksheet, or Schedule J is necessary to figure the tax
• Explain how to figure the kiddie tax
• Determine the sources of income tax withholding
• Describe how to complete the schedule for estimated tax payments
• Explain how to figure estimated tax installments and when to make payments
• List tax credits treated as tax payments
• List post-filing options for paying outstanding taxes

This one-hour CPE course, the second in the 1040 Preparation and Planning series, covers filing status. Tax developments reflected in this course, including the Consolidated Appropriations Act, 2023 (which includes SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decisions, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Overview of Filing Status
• Married Persons Filing Joint Returns
• Determining Marital Status
• Married Persons Treated as Unmarried Status
• Community Property
• Joint Return Required for Certain Tax Benefits
• Joint or Separate Return
• Joint Return Barred
• Death of a Spouse
• Married Persons Signing a Joint Return
• Drawbacks of Filing Separately
• Married Persons Filing Separately: Special Dollar Limits
• Reporting Income on Separate Returns
• Changing Filing Status
• Head of Household
• Head of Household with a Qualifying Child
• Head of Household: Qualifying Relative
• Head of Household: Multiple Support Agreements
• Head of Household: Due Diligence
• Qualifying Surviving Spouse
• Innocent Spouse Relief (Including Separation of Liability and Equitable Relief)
• Innocent Spouse Relief: General Innocent Spouse Relief
• Innocent Spouse Relief: Separate Liability
• Innocent Spouse Relief: Equitable Relief
• Requesting Innocent Spouse Relief
• Innocent Spouse Relief: Tax Court
• Injured Spouse Relief Distinguished from Innocent Spouse Relief

Learning Objectives

• List the different filing statuses
• Determine when it is better for married persons to file jointly or separately
• Explain special rules for those who die during the year
• Identify the requirements to claim innocent spouse relief

This two-hour CPE hour course, the third in the 1040 Preparation and Planning series, covers compensation and fringe benefits. It also covers the tax treatment of distributions and loans from qualified retirement plans. Tax developments reflected in this course, including the Consolidated Appropriations Act, 2023 (which includes SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decisions, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Compensation for Personal Services
• Types of Compensation
• Payments to Government Employees/Volunteers
• Form W-2 Reporting and Withholding
• Sec. 83(b) Election
• Employee Stock Options — Tax Treatment Depends on the Type
• Nonqualified Stock Options
• Employee Stock Options and RSUs
• Foreign Earned Income and/or Housing Exclusion
• Foreign Housing Costs
• Group-Term Life Insurance Paid by Employer
• Group-Term Life Insurance
• Split-Dollar Life Insurance
• Life Insurance Premiums for Spouses and Dependents
• Meals Lodging Furnished to Employee
• Employer's Contributions to Employee Retirement Plans
• Employer's After-Tax Contributions
• Pensions and Retirement Pay Received
• COVID-19 Distributions and Recontributions
• Withholding on Pension Distributions
• Voluntary Withholding on Pension Distributions
• Disability Pensions
• Corrective Distributions from Retirement Plans
• Loans from Qualified Retirement Plans
• Medical Insurance and Reimbursement Plans
• Employer-Paid Long-Term Care Insurance
• Insurance Reimbursements
• Medical Reimbursement Accounts
• Health Savings Accounts
• Dependent Care Assistance Plans
• Employer-Provided Educational Assistance
• Employer-Provided Adoption Assistance
• Other Fringe Benefits
• Veterans and Members of the Armed Forces

Learning Objectives

• Identify compensation in whatever form it is paid
• Explain entries on Form W-2 as it relates to the income tax return
• Identify various types of employee benefits plans
• Recognize which benefits are taxable and which benefits are excludable from income

This two-hour CPE course, the fourth in the 1040 Preparation and Planning series, covers gross income from a number of sources, including interest, dividends, Social Security, alimony and other types of ordinary income. A case study that walks you through calculating reportable income is included in this course. Tax developments reflected in this course, including the Consolidated Appropriations Act, 2023 (including SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decision, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier, years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Items Includible in Gross Income
• Interest Income
• Dividends
• Tax Refunds, Credits, or Offsets of State and Local Income Taxes
• 1099-K
• Alimony
• Child Support
• Property Settlements
• Unemployment Benefits
• Social Security Benefits
• Other Income

Learning Objectives

• Recognize how to report interest income
• Identify qualified dividends
• Recognize how to figure the includible portion of Social Security benefits
• Describe the taxation of alimony under pre-2019 divorces
• Describe the taxation of unemployment benefits
• Recognize how to distinguish cancellation of debt income that is taxable from COD income that is excludable
• List "other income"

This five- hour CPE course, the fifth in the 1040 Preparation and Planning series, covers gains and losses, involuntary conversions, basis, capital and ordinary assets, and capital gains and losses. Tax developments reflected in this course, including changes made by the Consolidated Appropriations Act, 2023 (which includes SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decisions, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Gain or Loss on the Sale or Exchange of Property
• Realized Gain or Loss
• Capital Gains Tax
• Capital Assets
• Exceptions for Capital Assets
• General Treatment of Capital Gains
• Exceptions for General Treatment of Capital Gains
• Determination of the Transaction's Tax Treatment
• Exchanges of Property
• General Treatment of Capital Losses
• Treatment of Capital Losses in Excess of Capital Gains
• Basis
• Purchase and Sale of a Going Business
• Loss on Property Acquired by Gift
• Adjustments for Gift Taxes Paid
• Securities Acquired at Different Prices
• Property Settlements
• Capital Gain Distributions
• Holding Period
• Section 1231 Gains and Losses
• Reporting Cryptocurrency Transactions
• Installment Method of Reporting Income
• Mark-to-Market Accounting for Traders in Securities
• Home Sale Exclusion
• Gain Allocated to the Period of Nonqualified Use
• Definition of a Principle Residence
• Special Marital Situations
• Unforeseen Circumstances
• Business Use of a Home
• Section 1244 Stock
• Nonbusiness Bad Debts
• Like-Kind Exchanges
• Exchange of Securities
• Involuntary Conversions

Learning Objectives

• Explain how taxable income affects the capital gains rate
• Describe what a capital asset is
• Explain tax basis and holding period
• Recognize how to figure gain or loss
• Recognize how to apply the capital loss limitation
• Explain the wash sale rule
• State the tax treatment of cryptocurrency
• Determine reporting under the installment sale rule
• Determine whether a transaction qualifies as a like-kind exchange
• Explain the rules for involuntary conversions
• State the tax benefits for Opportunity Zone investments
• Complete Form 8949 and Schedule D of Form 1040 or 1040-SR

This six-hour CPE course, the sixth in the 1040 Preparation and Planning series, covers income and expenses of sole proprietors and independent contractors on Schedule C, farm income and expenses on Schedule F, and rents and royalties on Schedule E. Tax developments reflected in this course, including the Consolidated Appropriations Act, 2023 (including SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decisions, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Business Income and Expenses
• Spousal Businesses
• Business Deductions
• Reasonableness of Salaries
• What Constitutes a Trade or Business?
• Examples of Common Ordinary and Necessary Business Expenses
• Interest Expense Limitations
• Start-Up Expenses
• Advertising Expenses
• Business Bad Debts
• Loans by Shareholder-Employees
• Recovery of Bad Debts
• The Nonaccrual-Experience Method
• Statute of Limitations for Bad Debts
• Explanation of Bad Debt Deduction on Tax Return
• Bribes and Kickbacks
• Fines and Penalties
• Lobbying Expenses
• Interest on Tax Deficiencies
• Repairs and Maintenance Costs
• Capital Expenditure
• Repair
• Capital Items
• Environmental Cleanup
• Research and Development Expenditures
• Carrying Charges, Interest, and Taxes on Real Estate
• Travel Expenses
• Expenses of Self-Employed Persons
• Expenses of Employees
• Accountable Plans
• Considerations for "Reasonable Time"
• Types of Expenses
• Expenses that are Part Business, Part Personal
• Traveling Expenses
• Spouse or Other Travel Companion
• Investment Seminars
• Foreign Conventions
• Cruise Ships
• Temporary Jobs Away from Home
• Commuting Expenses
• Deducting Vehicle Expenses
• Standard Mileage Rate Exclusions
• Dollar Limits
• Nonpersonal Use Vehicles
• Changing Write-off Methods
• Rural Letter Carriers
• Deducting the Costs of a Leased Car
• Entertainment Expenses
• Club Dues
• Business Meals
• Exceptions to the 50% Limitation Rule
• Business Gifts
• Nonqualified and Qualified Plan Awards (Tangible Property)
• Substantiation of Travel Expenses and Gifts
• Recording of Expenditures
• Per Diem Allowances
• Self-employed Persons
• Statutory Employees
• Employees
• Investment Expenses
• Home Office Expenses
• Exceptions to Exclusive Use Test
• Home Office Deduction
• Direct and Indirect Expenses
• Gross Income Limit
• Home Office Telephone
• Educational Expenses
• Deductible Expenses
• Depreciation
• Depreciation Deduction
• Failure to Take Depreciation
• Basis for Determining Depreciation
• Classes of Property
• Classes of Property under MACRS
• Classes of Property for Depreciation
• Half-Year Convention
• Mid-Quarter Convention
• Property Placed in Service
• Real Property
• "Qualified Improvement Property"
• Section 179 Deduction
• Qualifying Section 179 Property
• Section 179 Expenses Not Allowed
• Taxable Income Limitation
• Recapture of Expensing
• Electing Expensing
• Bonus Depreciation
• Eligible Property
• Election Out of Bonus Depreciation
• Alternative Depreciation System (ADS)
• Limits on Depreciation for Mixed-use Property
• Property Not Predominantly Used in Business
• Change of Depreciation Methods
• IRS Procedures
• Depreciation Recapture
• Amortization
• Section 197 Intangibles
• Trademark Expenditures
• Business Start-up Expenditures
• Organizational Costs
• Depletion
• Business Losses
• Net Operating Losses
• Farm Income and Expenses
• Other Income Items
• Commodity Credit Corporation (CCC) Loans
• Deductions
• Rents and Royalties
• Passive Activity Loss (PAL) Rules
• Tests to Determine Material Participation
• Rental of a Home ("Vacation Homes")
• Qualified Business Income Deduction

Learning Objectives

• Explain how to complete Schedule C
• Determine eligibility for and report deductions on a range of business expenses
• Describe how to report deductions for travel-away-from-home costs
• Determine whether meal cost limitations apply
• Describe how to calculate deductions for business vehicle use
• Describe how to figure the home office deduction
• Explain property depreciation, first-year expensing, bonus depreciation, and depreciation recapture
• Recognize how to apply the rules for amortization, depletion, different types of losses, and bad debts
• Identify expenses subject to amortization
• Describe how to figure depletion deductions
• State how to apply the limits on trade or business losses
• Determine net operating losses
• Determine whether a debt is a business or nonbusiness bad debt
• List special deductions for farming activities
• Recognize how to apply the passive activity loss rules to businesses and rental activities
• Determine when losses from the rental of a home are deductible
• Recognize how to figure the qualified business income deduction

This two-hour CPE course, the seventh in the 1040 Preparation and Planning series, covers various types of income not discussed in other courses in this series, as well as exclusions from gross income. Tax developments reflected in this course, including the Consolidated Appropriations Act, 2023 (including SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decisions, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Commercial Annuities
• General Rule
• Expected Return
• Cashing in Annuities
• Penalties on Early Distributions
• IRA Distributions
• Reporting IRA Distributions
• SECURE 2.0
• Beneficiary Distributions
• Determining the Beneficiary
• Owner Dies after 2019
• Proposed Regs Individual Beneficiaries — 10-Year Rule
• Inherited IRAs — General Thoughts
• Owner Dies before 2020 and on or after the Required Beginning Date
• Qualified Charitable Distributions
• Annual Exclusion for QCDs
• Exclusions in General
• Gifts and Inheritances
• Insurance Proceeds
• Life Insurance
• Accelerated Death Benefits
• Surrender of Life Insurance Policy
• Death Benefits Paid by an Employer
• Death Benefits Paid to Military Personnel
• Proceeds from Accident and Health Insurance Policies
• Disability Policies
• Scholarships and Fellowships
• Workers' Compensation
• Damages for Injuries and Claims
• Miscellaneous Income
• Common Inclusions and Exclusions from Gross Income
• Qualified Tuition Plans
• Gift Tax Consequences for Contributions to 529 Plans
• ABLE Accounts
• ABLE Account Advantages
• Miscellaneous Exclusions
• Disaster Relief and Mitigation Payments
• Foster Care Payments
• Difficulty-of-Care Payments
• Public Assistance
• Qualified Medicaid Waiver Payments

Learning Objectives

• Explain how to report income from a commercial annuity
• Explain how to calculate Required Minimum Distributions (RMDs)
• Explain distribution rules for Roth IRAs
• State the withholding rules for distributions from qualified retirement plans and IRAs
• Explain the concept of an exclusion
• Describe the tax treatment of gifts and inheritances
• Recognize how to distinguish between taxable and tax-free damages

This two-hour CPE course, the eighth in the series, examines adjustments to gross income, including deductions that don’t require itemizing; HSAs; IRA deductions; tax treatment of alimony, child support, and property settlements; and how to arrive at adjusted gross income. Tax developments reflected in this course, including the Consolidated Appropriations Act, 2023 (including SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decision, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Adjusted Gross Income Section
• Items Deductible from Gross Income
• Educator Expenses
• Expenses of Reservists, Performing Artists, and Fee-Basis Government Officials
• Health Savings Accounts
• Moving Expense Deduction
• Deductible Part of Self-Employment Tax
• Self-Employed SEP, SIMPLE, and Qualified Plans
• Self-Employed Health Insurance Deduction
• Penalty on Early Withdrawal of Savings
• Alimony
• IRA Deduction
• Roth IRAs
• Interest on Student Loans
• Other Deductions

Learning Objectives

• List deductions that can be claimed without itemizing
• Determine eligibility for a health savings account
• Identify IRA deductions
• Describe the difference in tax treatment between alimony for pre-2019 and post 2018 divorces, as well as child support and property settlements
• Identify how to calculate how to arrive at adjusted gross income
• Identify the deduction that is subtracted in the adjusted gross income section
• Identify up to what amount teachers and other educators can deduct of their out-of-pocket costs in 2023 for classroom materials as an above-the-line deduction
• Identify the schedule of Form 1040 and 1040-SR used to self-employment tax

This three-hour CPE course, which is the ninth in the 1040 Preparation and Planning series, covers standard deduction amounts and itemized deductions. Tax developments, including the Consolidated Appropriations Act, 2023 (including SECURE Act 2.0), the Inflation Reduction Act of 2022, and other tax legislation, IRS pronouncements, and court decision, are extensive. They impact 2023 tax year returns that will be filed during the 2024 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2024 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2023 tax returns for the 2024 filing season.

Publication Date: September 2023

Topics Covered

• Standard Deduction
• Qualified Business Income Deduction
• Overview of Itemized Deductions
• Medical Expenses
• Limitations on the Medical Expense Deduction
• Taxes
• Interest Payments
• Charitable Contributions
• Planning Opportunities
• MFJ — No DAF
• MFJ — Advantage of DAFs
• Congressional Research Service
• Contributions of Stock
• Advantage of Stock Contributions
• Double Benefit
• Combining DAFs and LT Capital Gain Property
• Older Taxpayers — Qualified Charitable Deductions
• Casualty and Theft Losses
• Limitations on Personal Casualty Losses
• Miscellaneous Deductions

Learning Objectives

• List the basic and additional standard deduction amounts
• List which items can be deducted as medical expenses
• Identify which type of interest is deductible
• Determine which taxes are deductible
• Recognize how to figure charitable contribution deductions and comply with substantiation requirements
• Identify the rules for determining disaster losses
• Determine which miscellaneous itemized deductions are deductible in 2018 through 2025

This course has been updated for 2023 for new developments including new laws, regulations, and tax forms. Are you interested in how cryptocurrencies were developed and how they work? Does blockchain technology provide sufficient security for cryptocurrencies? What are the advantages and disadvantages of using cryptocurrencies? What are the tax consequences of investing in cryptocurrencies or using them for personal or business transactions? This course is designed for individuals who would like to obtain a basic understanding of crypto currency. The course will cover the history of virtual currencies and explain how they work. We will review some of the legal issues involved with virtual currencies. The course will cover the advantages and disadvantages of using virtual currencies. We will review the IRS rules for tracking and reporting crypto currency transactions for tax purposes.

Publication Date: June 2023

Designed For
CPAs, CFEs, CMAs, CIAs, CFFs, CVAs, CGMAs, CIAs, CFFs, MAFFs, managers, business owners, investors, and anyone else interested in learning about virtual currencies.

Topics Covered

• Basic understanding of cryptocurrency
• History of virtual currencies and how they work
• The legal issues involved with virtual currencies
• Advantages and disadvantages of using virtual currencies
• The IRS rules for tracking and reporting cryptocurrency transactions for tax purposes

Learning Objectives

• Define crypto (virtual) currency
• Identify the tax implications of using crypto currency

Maximize and Apply Depreciation Changes Experienced practitioner and instructor Greg White, CPA, will lead this deep-dive two-hour CPE course on the specific depreciation changes made by the Tax Cuts and Jobs Act of 2017 (TCJA). How does bonus depreciation work now? What about Section 179? Get the answers to these questions and more in this focused course looking at what has changed under the new tax law.

Publication Date: January 2023

Designed For
CPAs, EAs, and tax return professionals in public practice and tax staff in private practice who have some experience with tax depreciation.

Topics Covered

• TCJA: Fast Depreciation
• TCJA and Bonus Depreciation
• Allocation of Cost: Building, Land and Personal Property
• Passenger Automobiles
• Section 179
• §179 Qualified Real Property
• The Basics of De Minimis

Learning Objectives

• Identify the best depreciation method for real estate improvements
• Recognize and apply effective dates for the rules
• Describe the new rules for de minimis expensing updated for changes in the Tax Cuts and Jobs Act
• Recognize and apply changes to §179 made in the Tax Cuts and Jobs Act

Millions of individuals file amended returns each year. This CPE Course provides you with an overview of why, when, where, and how to file an amended tax return for individuals.

Publication Date: March 2024

Designed For
CPAs, Enrolled Agents, Tax Return Preparers, and Tax Attorneys.

Topics Covered

• When to File or Not File an Amended Return
• How to File an Amended Return
• Ancillary Issues for Amended Returns

Learning Objectives

• Identify the situations that warrant the filing of an amended return
• Recognize when an amended return should not be filed
• Recognize how to prepare and file an amended return
• Recognize differences in filing on paper or electronically
• Describe ancillary matters for amended returns
• Identify the different deadlines for filing an amended return
• Recognize when a carryback claimed on an amended return for a prior year would be impacted
• Identify how interest and penalties affect amended returns

When dealing with a cash business the issues surrounding the examination magnify. As of now, the IRS will delve into what was reported, but may have not been reported. This course will review what practitioners need to be considering when preparing for an examination of a cash intensive business.

Publication Date: May 2024

Topics Covered

• Preparer considerations
• Hot button issues
• Issues to consider when preparing returns
• IRS focus on cash businesses
• IRS audit techniques for cash businesses
• Considerations for appealing the exam

Learning Objectives

• Identify how the IRS delve's into what was reported or not reported
• Recognize what practitioners need to be considering when preparing for an examination of a cash intensive business
• Identify those industries the IRS views as cash intensive
• Recognize the various techniques utilized by the IRS to identify unreported income
• Identify an item that would be included on the cash received column when using a cash T-analysis

The fastest growing tax reporting entity is the LLC taxed as a partnership. Tax practitioners now see partnership tax vehicles used by any type of taxpayer, including large corporations. The flexibility of partnership taxation has much to do with their use, but the distinctions between the “aggregate” and the “entity” approaches create significant uncertainty in many transactions. This course is “Part I” of a two-part program on partnership taxation. This course will review many of the basic provisions of subchapter K and will help prepare both staff and management for dealing with more complex partnership tax concepts. In this four-hour CPE course nationally recognized tax expert and instructor James Hamill, CPA, Ph.D., will explain the taxation of partnerships by use of commonly encountered transactions. The course will generally follow a “life cycle” approach, beginning with a review of what it means to be a partnership for tax purposes, the consequences of formation, and ending with the effects of distributions on both the partnership and the partners.

Publication Date: November 2023

Designed For
CPAs, EAs, tax preparers and other tax professionals with responsibility for assisting clients with partnership tax returns and tax-planning strategies.

Topics Covered

• Partnership: Aggregate Versus Entity Approach
• Partnership Classification and Formations
• Reporting Issues Aggregate Treatment of Partners
• Distributions from a Partnership - Partnership Section 734 Adjustments
• Section 734 Adjustments - Partnership-level Basis Adjustments

Learning Objectives

• Determine the consequences of forming a partnership
• Identify key tax reporting issues
• Describe how to select an accounting period
• Identify how to articulate allocations of profit and loss
• Determine share of recourse liabilities
• Recognize how to explain the rules affecting partnership distributions
• Describe the aggregate approach
• Identify how material participation applies
• Recognize what's included for a partner's at-risk basis
• Identify results of liquidating distributions
• Describe tax effect of a distribution in various client scenarios
• Recognize and apply Section 734 Adjustments
• Identify UBIA for Section 199A
• Recognize how recourse debt is presented
• Describe how 704(b) capital is recorded
• Recognize how to differentiate true statements regarding nonrecourse deductions

The IRS just stated that there are more than 7 million non-filers in the US and are beginning to roll out an initiative to pursue them. The demand for help from practitioners is overwhelming and attorneys handle these cases. The opportunity for CPAs and EAs to help non-filers, resolve the issue, and add a lot of money to their bottom line has never been better. Join, Attorney, Eric Green as he explains where to find these clients, how to help them, and how to increase your representation practice while doing so.

Publication Date: August 2023

Topics Covered

• IRS's High Income Non-filer Campaign
• IRS Strategies
• Rationale for Focus on High Income Nonfilers
• Lookback Period for Delinquent Taxpayers
• United States vs. Kovel
• Incomplete Information & Estimates
• Cohan vs. Commissioner
• Voluntary Disclosure: Cleaning Up Past Bad Behavior
• Changes to Normal Exam Procedures
• Civil Penalties and Defenses
• First-Time Penalty Abatement ("FTA")
• Penalty Policy Considerations
• Pull Transcripts — History Matters
• Reasonable Cause Defense
• What about the State Returns

Learning Objectives

• Recognize the process for bringing non-filers back into the tax season
• Identify opportunities to resolve the client's outstanding balance
• Explain the strategies for setting up the client to best resolve their federal and state tax issues
• Identify the state that has a full-payment requirement with respect to its state voluntary disclosure program

The matter of aging in the U.S. and the tax issues that come into play cannot be ignored. The U.S. Census Bureau says one in six Americans were 65 or older in 2020, and the percentage of the population represented by seniors is expected to grow considerably. This on-demand CPE course provides you with an overview of planning tips and techniques on elder care to help you in your practice.

Publication Date: February 2024

Topics Covered

• Planning Ahead for Longevity
• Paying for Elder Care
• Other Matters
• Legal Documents
• Health Care Power of Attorney
• Living Wills and Do Not Resuscitate Orders
• Legal Documents for Financial Management
• Durable Power of Attorney
• Types of Trusts
• Cancellation of Medical Debt
• Caregivers
• Federal Tax Credit for the Elderly

Learning Objectives

• Identify and apply strategies for planning ahead for elder care
• Recognize the options for paying for long-term care
• Identify the tax-related matters to be included in a durable power of attorney
• Describe true statements about Social Security
• Identify which types of trusts are suitable for someone who needs nursing home care
• Recognize how to differentiate qualified retirement plans which can create tax-free income for old age
• Recognize tax breaks for health savings accounts
• Recognize how qualified charitable distributions fit into elder care planning

Understanding whether an expense should be capitalized or immediately deducted as an expense is a tax question faced by nearly every business. Taxpayers are often required to capitalize otherwise deductible transactional expenses such as legal fees and appraisals, and even more complicated rules apply to manufacturers and producers of tangible property in determining cost of goods sold. This course covers the general tax rules requiring the capitalization of expenses that create an asset with a useful life that extends substantially beyond the taxable year, the rules for capitalizing transaction costs, and the section 263A regulations that apply to manufacturers and producers of tangible property. It also covers how the change in accounting method rules apply to deducted expenses that should be capitalized.

Publication Date: February 2023

Designed For
Tax practitioners at all levels who provide advice and return preparation on expenditures that may potentially be capitalized.

Topics Covered

• Tax rules on capitalizing expenses with benefit that extends substantially beyond taxable year
• Capitalization of costs relating to acquisition of tangible and intangible assets
• Application of regulations under section 263A to manufacturers and producers of tangible property, and effect on cost of goods sold
• "New" section 263A "repair regulations"
• Applicability of change in accounting method rules to capitalization vs. expensing questions

Learning Objectives

• Recognize how to explain general rules determining when expenses should be capitalized
• Identify rules that require capitalization of transaction costs into basis of acquired assets
• Differentiate how section 263A requires capitalization of expenses into cost of goods sold
• Recognize how new "repair regulations" apply in common scenarios

We’ll cover up-to-date strategies available for cannabis businesses.

Publication Date: February 2024

Topics Covered

• Tax Rules - Schedule I and II controlled substances
• Hope for the future - Reclassifying cannabis to Schedule III
• Choice of entity - Retailers
• Choice of entity - Growers and Processors
• Growers and Processors (and some retailers)
• Growers and Processors - consider capitalizing Category II costs
• QBID (§199A)
• New §471(c) "book conformity" argument
• Uses costs in inventory pool to compute inventory

Learning Objectives

• Identify helpful strategies for cannabis retailers
• Recognize whether cannabis clients qualify for the 20% section 199A QBI deduction
• Identify inventory options available for cannabis businesses
• Identify current legislation that affects cannabis businesses
• Identify an example of a Category 1 cost that must be capitalized

On all-new Forms 1065, Schedules K-1 and in related instructions, the IRS is launching massive new reporting requirements re: allocation of liabilities among partners, §754 elections, negative tax basis capital accounts, at-risk activities, passive activities, partner level built-in gains and many more. In this course, we’ll tackle these new disclosures and what’s behind them.

Publication Date: January 2024

Designed For
Return preparers, tax planners and taxpayers desiring to keep up with IRS’s Form 1065 Schedule K-1 reporting requirements.

Topics Covered

• 2023 Form 1065 and K-1
• Consequences of Improper or Partial Completion of Form 1065 or Schedule K-1
• Disregarded Entities
• 3 Year Average Annual - Gros Receipts Test
• Small Business Exemption
• Partnership Income Tax Law
• Capital Accounts
• Negative Capital Account Reporting
• Tax Capital Account Reporting
• IRS 2023-2024 Priority Guidance Plan Partnerships
• Disguised Sales
• Built-In Gain or Loss
• Partnership Returns - Schedule K-1 re: Foreign Tax Paid (or Accrued)
• Loss Limitation - Hurdles
• 2023 Form 1065
• At-Risk Activities

Learning Objectives

• Describe negative tax basis capital account reporting — What must be computed and disclosed (and by when)
• Describe a plethora of other new info required (built-in gains lying in wait, disregarded entity partners, new tiered partnership reporting and more)
• Identify the type of reporting that indicates possible disallowance of loss deduction for a partner if they run out of basis
• Identify the basic computation for a partner’s capital account
• Identify the method used to compute (maintain) the ongoing tax basis capital account

Explore four types of relief for a potential client (spouse or former spouse), for example, to be relieved of the tax, interest, and penalties on a joint tax return. Susan Harper, Certified Fraud Examiner, and former IRS Internal Revenue Agent of 34 years will teach you who is eligible for relief, what type of relief, and how to request relief in this course. With 20 years instructing CPE courses, Susan will deliver an entertaining and informative discussion. Learn how to help your eligible clients request appropriate IRS relief when appropriate.

Publication Date: May 2024

Topics Covered

• Types of IRS Relief Defined
• Ways to Request IRS Relief
• Flowcharts (Do you qualify for relief?)
• Relief Resources
• Frequently Asked Questions & Answers

Learning Objectives

• Describe the types of relief available to married persons who file joint returns
• Explain how to request relief
• Identify useful flowcharts
• Explain how to get help

The well-informed tax practitioner will want to attend this two hour program in order to stay current on recent updates on partnership tax! Content includes recent court decisions on partnership tax issues as well as current updates to the new Forms K-2 and K-3.

Publication Date: January 2024

Designed For
This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, CAs Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise businesses that have tax implications. All in-house and public practice tax professionals will benefit from this timely and insightful seminar.

Topics Covered

• Corporate Transparency Act (CTA)
• Partnership Case Updates
• Statue-of-Limitation Issues
• Economic Substance
• Other Substantive Issues
• Sec. 754 Elections
• K-2/K-3 Overview
• 2023 Changes for K-2/K-3
• Domestic Filing Exception (DFE)
• Observations
• IRS Frequently Asked Questions

Learning Objectives

• Identify the new requirements under the Corporate Transparency Act
• Identify new cases that affect partnerships and S Corporations
• Identify the purpose of Schedule K-2 and Schedule K-3
• Identify when Schedules K-2 and K-3 must be filled
• Identify which taxpayers need to complete these forms

Join expert Greg White for a fast-paced in-depth examination of 2023 partnership developments.

Publication Date: January 2024

Topics Covered

• 50% deduction for restaurant meals
• Sweat equity interests
• Self-employment tax for limited partnerships
• Changes in Form 1065 and K-1s
• Beneficial ownership reporting
• Changes to Form 8308
• Credits for new retirement plans
• E-filing 1099s and W-2s

Learning Objectives

• Identify the method to admit "sweat equity" partners without triggering gain recognition and allowing existing partners to extract their capital
• Determine whether LLC members are required to pay self-employment tax (including a red hot new development from the Tax Court)
• Identify the percent deduction allowed for restaurant meals on 2023 tax returns
• Identify the type of interest you can earn equity thru by using tax-free sweat equity
• Identify the number of BOI exemption categories

New tax laws—the Consolidated Appropriations Act, 2023 (which contained SECURE Act 2.0), the Inflation Reduction Act of 2022, other legislation—plus new cases, IRS guidance, and inflation-driven cost-of-living increases in numerous tax rules present planning opportunities for your clients. Your guidance is needed to help clients navigate the new tax landscape now. This one-hour CPE course will provide an update on critical year-end tax steps for businesses.

Publication Date: November 2023

Topics Covered

• Part I: Income and Exclusions
• Part II: Deductions
• Part III: Credits and Other Taxes
• Part IV: Other Developments

Learning Objectives

• Identify the latest developments in federal taxation for businesses
• Recognize and apply recent developments to year-end tax planning
• Identify the business meals deduction percent for 2023 and beyond
• Identify the credit percent for a qualified investment in a facility that manufactures semiconductors or the equipment to make them
• Identify the penalty amount per month per owner for failure to file 2023 S Corp returns in 2024

Of the many federal and state tax developments of 2022, what are the hot ones that might require changes in planning and compliance, lingering issues into 2023, new practice protocols, changes to help new types of clients, and to address new legislative and major judicial and regulatory developments of 2022.

Publication Date: December 2023

Designed For
Practitioners at all levels who are looking for a way to efficiently stay on top of key federal and state developments of most relevance to individuals and small businesses.

Topics Covered

• Review of hot tax topics lists back to 2017
• 9 hot topics for 2023 year end
• Status of legislative proposals for 118th Congress
• Survive and thrive considering hot tax topics, change and uncertainty

Learning Objectives

• Identify key issues that affect tax practice for year end and beyond
• Recognize how to survive and thrive in light of hot tax topics and tax trends
• Identify the IRS initiative related to quickly resolving taxpayer issues when they arise
• Identify one of the challenges with respect to the IRS's Report on Direct File
• Identify the top issue on the IRS's Direct Dozen List for 2023
• Identify the form that will be used to report required information on digital assets