This level covers key areas to ensure your young tax force is well prepared to begin their careers. We will focus on the areas of Individual, Partnership and S Corporation tax compliance, effective online tax research techniques, clear and precise workpaper documentation, effective professional business communications. Your future tax professionals will be provided a broad range of practical tax instruction, including key issues surrounding the Individual taxation, new cost and repair regulations, S Corporation distributions, items affecting shareholder basis, Passive Activity Loss rules, and more. The Tax Staff Essentials courses establish a strong set of core skills necessary for junior staff growth.
- Implement strategies for high-wealth clients, those approaching retirement, homeowners, parents of college-bound children, employees, self-employed individuals, and seniors.
- Respond to tax-law and economic developments with up-to-date strategies that save taxes for individual clients.
- Render appropriate federal income tax advice to clients who are separated, divorcing, or already divorced.
- Identify circumstances that warrant converting from S to C corporation and gain a basic understanding of how to make the conversion.
- Interpret tax issues related to the formation of a corporation.
- Understand the complex rules of basis and distributions
- Apply the rules related to acquisitions and liquidations of S corporations.
- Explain the uses of trusts as S corporation shareholders.
- Understand the concept of a trust and the various types of trusts.
- Advise clients on filing requirements for Forms 706 and 709.
- Identify the elements of an estate and grantor trusts
- Understand the basic steps in a business acquisition
- Analyze the three principle approaches to valuation of a business
- Structure compensation alternatives for individual buyers and seller
- Prepare and use Forms 990, 990-EZ, and related schedules
- Understand which organizations must file returns and which are exempt
AICPA is the sponsor of record for any CPE earned for this product. You will not see CPE earned from this product in your OSCPA transcript unless you add it manually by using the external training feature.