CPE Catalog & Events

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

Updates on legislative challenges The Corporate Transparency Act and its goals Which entities need to file reports and which entities are exempt? Deep dive into the definitions of beneficial owner and substantial control Information that needs to be reported Logistics on how and when to file the forms

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 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

A basic overview of the requirements imposed by HIPAA on professionals What businesses and individuals are subject to HIPAA Best practices for HIPAA compliance Issues unique to accounting and finance professionals concerning HIPAA Recognize common areas of liability under HIPAA

New and proposed FASB ASUs related to ASC 606 ASC 606 disclosure requirements and examples for non-public business entities Impact of applying ASC 606 due to COVID-19

Independence / objectivity and the internal audit function Internal audit organizational reporting structure(s) Major roles and responsibilities of the internal audit activity and its members Effective oversight of the internal audit group Clarity and alignment of internal audit organizational governance/ documentation and messaging (including its charter, reporting lines/ structure, and policies/ procedures) Required knowledge, skills, and competencies of a high-quality internal audit group Orientation and ongoing training / development needs of internal auditors (at all levels)

IA program foundation(s): IA risk assessment and planning IA Risk Assessment and Planning Standards review Enterprise (macro) level internal audit risk assessment and planning including entity level/ wide audit scope, frequency and objectives determinations Process and engagement (micro) level risk assessment and planning, including the alignment and integration with enterprise risk assessment, planning and engagement level scope and objectives determinations Engagement level scope and objectives determinations Internal control design and documentation fundamentals Audit program development and updating

Fieldwork fundamentals, including a discussion of the following: Types and nature of fieldwork Technical skills development Compliance testing of internal controls Substantive testing of accounts/balances IT/Cyber Security control reviews/testing Audit sampling fundamentals: Statistical/Non-Statistical Audit evidence and evidence gathering techniques Analytical/problem-solving skills development: Identification and analysis of control deficiencies/issues Time management, organization, and communication skills development Workpaper preparation and documentation basics, including best practice techniques, and workpaper self-review

IA activity and engagement level management overview The fundamentals of highly effective IA engagement management Engagement planning, supervision, administration, and monitoring Time and resource management, including scheduling, budgeting, status updating, tracking and follow up Audit reporting and report writing Engagement team and stakeholder/partner communications, meetings, and relationship dynamics and development

Defining “Quality” and “Excellence” for an IA activity: your “Defining Moments”! Quality Assurance and Improvement Program (QAIP): an overview QAIP Standards review Requirements of the QAIP: Internal/External Assessments Moving beyond standards compliance to highest-level quality and impact internal auditing It’s all about stakeholders and maximizing stakeholder value Advanced skills/leadership development for Internal Auditors The IA “Success Quadrant” and Never-Ending Quality/Excellence Continuum 

Criteria that the IRS uses to select returns for examination Vehicles, meals, and virtual currency considerations Worker classification determinations on who is an employee and who is an independent contractor S corporation officer’s reasonable compensation issues Responsibilities to pay the employment taxes when the business defaults Tax-related identity theft procedures

Coverage of the Inflation Reduction Act of 2022 Criteria that the IRS uses to select returns for examination Vehicles, meals, and virtual currency considerations Worker classification determinations on who is an employee and who is an independent contractor S corporation officer’s reasonable compensation issues Responsibilities to pay the employment taxes when the business defaults Tax-related identity theft procedures

The performance of risk assessment procedures to attain the knowledge needed to assess risk How the auditor identifies and assesses the risks of material misstatement The new “stand-back” requirements related to risk assessment

How to analyze others through simple observation A proven model to understand and predict behavior Why assertiveness is neither good nor bad What behaviors to expect from different personality types Why do I act like I do? Correcting employee issues in a new and better way

Proven ways to measure costs in relation to objectives Develop methods to measure company and department objectives Use ratios to measure and improve efficiency Develop an incentive system that rewards efficiency

Effects of recent legislation, including the recently enacted Inflation Reduction Act and the SECURE Act 2.0 Filing information, filing status, personal exemptions, dependents, the standard deduction, etc. Dependents and income Wages and salaries Credits, withholding, estimated tax, and basic return preparation Capital gains and losses Itemized deductions

Comprehensive coverage of the SECURE Act 2.0 Understanding the environment: what’s new, what’s expired or expiring, and what’s likely to change Reading a tax return for developing client-specific tax strategies Will there be more changes in the individual tax laws? Changes to the lifetime estate tax exemption in light of proposed regulations  The net investment income tax: planning for compliance Family income-splitting strategies that need to be considered Income tax issues: impact on timing of other income Selling a principal residence Two principal residences at the same time Use of life insurance to protect families Using Roth IRAs and Roth contribution programs to best advantage Conversions: do they still make sense? Taking distributions: matching timing to client requirements Qualified plan contributions to reduce current income and Social Security tax: implications for business owners and self-employed Social Security solvency issues Incentive Stock Options and Employee Stock Purchase Plan considerations What to do about itemized deductions Trans-generational planning: conversions, income, and gain-splitting Tax benefits of HSAs and other tax-advantaged acccounts Recent case law, as applicable Identifying tax opportunities: reviewing the prior-year return to develop a plan for the future Planning for middle-income taxpayers: financial planning for the young, the working, and those approaching or in retirement

Comprehensive coverage of the SECURE Act 2.0 Understanding the environment: what’s new, what’s expired or expiring, and what’s likely to change Reading a tax return for developing client-specific tax strategies Will there be more changes in the individual tax laws? Changes to the lifetime estate tax exemption in light of proposed regulations  The net investment income tax: planning for compliance Family income-splitting strategies that need to be considered Income tax issues: impact on timing of other income Selling a principal residence Two principal residences at the same time Use of life insurance to protect families Using Roth IRAs and Roth contribution programs to best advantage Conversions: do they still make sense? Taking distributions: matching timing to client requirements Qualified plan contributions to reduce current income and Social Security tax: implications for business owners and self-employed Social Security solvency issues Incentive Stock Options and Employee Stock Purchase Plan considerations What to do about itemized deductions Trans-generational planning: conversions, income, and gain-splitting Tax benefits of HSAs and other tax-advantaged acccounts Recent case law, as applicable Identifying tax opportunities: reviewing the prior-year return to develop a plan for the future Planning for middle-income taxpayers: financial planning for the young, the working, and those approaching or in retirement

The keys that develop a plan into an actionable document The major difference between planning and budgeting Strategic planning The business plan The people plan The marketing plan Capital and technology plans