CPE Catalog & Events

How does the IRC define an installment sale under IRC Sec 453? When can a taxpayer utilize the provisions of IRC Sec 453? When should a taxpayer utilize the provisions of an installment sale and when should it be avoided? How does the issue of a “dealer” vs. a “non-dealer” impact the use of the installment sale method? Reporting an installment sale when related parties are involved Calculating an installment sale How has the Tax Cuts and Jobs Act impacted the use of the installment sale method?

How does the IRC define an installment sale under Section 453? When can a taxpayer utilize the provisions of IRC Section 453? When should a taxpayer utilize the provisions of an installment sale and when should it be avoided How does the issue of a “dealer” vs. a “non-dealer” impact the use of the installment sale method How to report an installment sale when related parties are involved How to calculate an installment sale How has the Tax Cuts and Jobs Act impacted the use of the Installment Sale Method What is a like-kind exchange as defined by IRC Section 1031 When can a taxpayer utilize the provisions of IRC Section 1031 What types of real property are eligible for like-kind exchange treatment and what types are not What is “boot” and how does it impact the like-kind exchange deferral How to calculate a like-kind exchange including any taxable portion How has the Tax Cuts and Jobs Act impacted the use of like-kind exchanges

How does the IRC define an installment sale under Section 453? When can a taxpayer utilize the provisions of IRC Section 453? When should a taxpayer utilize the provisions of an installment sale and when should it be avoided How does the issue of a “dealer” vs. a “non-dealer” impact the use of the installment sale method How to report an installment sale when related parties are involved How to calculate an installment sale How has the Tax Cuts and Jobs Act impacted the use of the Installment Sale Method What is a like-kind exchange as defined by IRC Section 1031 When can a taxpayer utilize the provisions of IRC Section 1031 What types of real property are eligible for like-kind exchange treatment and what types are not What is “boot” and how does it impact the like-kind exchange deferral How to calculate a like-kind exchange including any taxable portion How has the Tax Cuts and Jobs Act impacted the use of like-kind exchanges

Understanding the history of IRC Sec 1031 Who does and does not qualify for utilizing the like-kind provisions Which properties do and do not qualify for like-kind exchanges The differences between a “dealer” and a “non-dealer” regarding like-kind exchanges How to complete a like-kind exchange The different types of like-kind exchanges The definition of “boot” and how it applies to like-kind exchanges Rules concerning Revenue Ruling 72-456, and Form 8824

Understanding the history of IRC Sec 1031 Who does and does not qualify for utilizing the like-kind provisions Which properties do and do not qualify for like-kind exchanges The differences between a “dealer” and a “non-dealer” regarding like-kind exchanges How to complete a like-kind exchange The different types of like-kind exchanges The definition of “boot” and how it applies to like-kind exchanges Rules concerning Revenue Ruling 72-456, and Form 8824

Mixed use of a residence: how deductions are limited in rental situations Home office: qualification and calculation Strategies and planning for renting a principal residence instead of selling it Why buying a vacation home can be a very smart investment Should you rent or use your vacation home? Opportunities and pitfalls Rules for using like-kind exchanges on principal residences and vacation homes Understanding the tax rules for acquisition indebtedness and home equity indebtedness Maximizing your interest expense deduction in light of limitations in the tax code

Compare and contrast the tax consequences, opportunities, and pitfalls of operating a business as a partnership, LLC, or S corporation  Reporting Requirements for Schedules K-2 and K-3  Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations  Gain a comprehensive understanding of income tax laws for S corporations from eligibility and election to tax return preparation, stock basis, and loss limitation issues  Recognize and properly handle special pass-through items of income and expense  Accurately prepare S corporation returns and reconcile book income to taxable income  Accurately prepare partnership returns and reconcile book income to taxable income  What the transactional method entails and how to report partners’ capital accounts under this method  Properly handle the tax treatment of distributions to shareholders, partners, or members  Understand the special restrictions and sanctions for tax year-end selection  Review the basics of partnership and LLC formation and basis calculation  Self-employment tax or NOT, for each entity  Filling in K-1s correctly for S corporations, partnerships, and LLCs. Major changes in K-1 reporting on both partnership and S corporation forms and content  The most frequently used forms and schedules, including some form “oddities” 

Compare and contrast the tax consequences, opportunities, and pitfalls of operating a business as a partnership, LLC, or S corporation  Reporting Requirements for Schedules K-2 and K-3  Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations  Gain a comprehensive understanding of income tax laws for S corporations from eligibility and election to tax return preparation, stock basis, and loss limitation issues  Recognize and properly handle special pass-through items of income and expense  Accurately prepare S corporation returns and reconcile book income to taxable income  Accurately prepare partnership returns and reconcile book income to taxable income  What the transactional method entails and how to report partners’ capital accounts under this method  Properly handle the tax treatment of distributions to shareholders, partners, or members  Understand the special restrictions and sanctions for tax year-end selection  Review the basics of partnership and LLC formation and basis calculation  Self-employment tax or NOT, for each entity  Filling in K-1s correctly for S corporations, partnerships, and LLCs. Major changes in K-1 reporting on both partnership and S corporation forms and content  The most frequently used forms and schedules, including some form “oddities” 

How to calculate a partner or S corporation shareholder’s basis Form 7203 and an S corporation shareholder’s basis The at risk basis rules and Form 6198 The passive activity loss limits The Section 461(l) loss rule The net operating loss limitation rules The Section 163(j) business interest limitation

Nonqualified deferred compensation (NQDC) Nonqualified stock options (NQSOs) Incentive stock options (ISOs) Restricted stock/restricted stock units (RSUs) Stock appreciation rights (SARs) and phantom stock Employee stock purchase plans (ESPPs) Applicable tax forms and schedules Stock sale reporting Estimated taxes Filing deadlines and extensions State taxation

Tax code hierarchy Organization of an Internal Revenue Code section Special rules for IRC citation  Citing other primary authority Private letter rulings  Primary vs. secondary authority  Secondary sources of authority Steps in the tax research process Research memoranda

Types of partnership distributions Liquidating partnership distributions Basis of property distributed by a partnership Special basis adjustments under Section 732(d) Abandoned and worthless partnership interests Section 751(a) exchange Transactions between partners and their partnerships Disguised sales Section 736(a) and (b) payments

What states do not have an income tax? What is the relevance to employers? Where does an employer have an obligation to withhold state taxes for an employee? At what point does an employee become a resident? Where is unemployment paid for an out of state employee?

What states do not have an income tax? What is the relevance to employers? Where does an employer have an obligation to withhold state taxes for an employee? At what point does an employee become a resident? Where is unemployment paid for an out of state employee?

Schedules K-2 and K-3 and filing exceptions Form 7203  IRS Tax Pro Account  IRS modernization initiatives Information Returns Intake System (IRIS) Identity Theft warnings   IRS guidance for the marijuana industry  “Recycled” Form 1099-NEC to report nonemployee compensation  Form 1065 steps for reporting capital  Centralized audit regime; late filing penalties and small partnership relief  “Substance over Form” argument of shareholder loans  Advanced study of “At-Risk” loans  Employer W-2 correction requests  White House 2025 Budget Points  Don't get caught watching the paint dry -- What is hot and new  What is terminating S corporations today?  Special allocation issues of §704  Final regulations for allocating depreciation recapture to partners and members of LLCs 

Schedules K-2 and K-3 and filing exceptions Form 7203  IRS Tax Pro Account  IRS modernization initiatives Information Returns Intake System (IRIS) Identity Theft warnings   IRS guidance for the marijuana industry  “Recycled” Form 1099-NEC to report nonemployee compensation  Form 1065 steps for reporting capital  Centralized audit regime; late filing penalties and small partnership relief  “Substance over Form” argument of shareholder loans  Advanced study of “At-Risk” loans  Employer W-2 correction requests  White House 2025 Budget Points  Don't get caught watching the paint dry -- What is hot and new  What is terminating S corporations today?  Special allocation issues of §704  Final regulations for allocating depreciation recapture to partners and members of LLCs 

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 

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 

Data-driven decision-making processes Top technology trends and related risks, including cloud computing, AI, ChatGPT, RPA, and blockchain applications Fraud statistics and cyber threats Common IT security risks and controls Requirements of SAS 142 Use of analytical procedures on professional engagements

Data-driven decision making processes Top technology trends and related risks, including cloud computing, AI, RPA, and blockchain applications Common IT security risks and controls Requirements of SAS 142 Use of analytical procedures on professional engagements