On-Demand


67 CPE

Tax Staff Essentials - Level 4, Tax Manager/Director (Complete Bundle) 2023

On-Demand
67 CPE

Learning Objectives

  • Select the appropriate way to handle an audit notice.
  • Assess the consequences for the buyer associated with the sale of an interest in a partnership or LLC.
  • Identify select high-level inbound and related tax issues.
  • Calculate the qualified business income (QBI) deduction, built-in gains (BIG) tax, and the deduction for organizational costs and start-up costs.
  • Calculate the full and partial exclusion available for the sale of a principal residence.
  • Identify the purposes of Schedules L, M-1, and M-2.
  • Determine how capital gains and losses are disclosed on Form 1120S.

Major Topics

  • New individual income tax rates
  • New pass-through income rules
  • The qualified business income (QBI) deduction
  • New rules for certain credits and deductions
  • Advanced aspects of FASB ASC 740, including accounting for business combinations and other purchase transactions and stock compensation under FASB ASC 718
  • Sale of an interest in a partnership or LLC
  • Adjustments to basis of partnership/LLC assets
  • Advanced distribution rules
  • Allocation of income under Section 704(b)
  • Foreign branch and affiliates
  • U.S. withholding taxes on foreign business
  • Types of IRS audits
  • Revenue adjustment report (RAR)
  • Accounting for audit adjustments
  • Individual tax planning
  • Small business tax planning

CPE Credits Available

67 CPE
67
Taxes

Things to Know About This Course

Course Level

  • Advanced

Professional Area of Focus

  • Tax

Prerequisites

Tax staff with over 5 years of experience

Intended Audience

Tax managers and directors who have a background in taxation

Provider

AICPA - Durham

This can not be purchased at this time.