Virtual Tax Boot Camp, Level 3: New Senior/In-Charge

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Save $100 on the July Virtual Boot Camp through June 10.

Advanced technical training. Tax School, Level 3 training identifies the more difficult areas for experienced tax compliance specialists. We will focus on understanding business strategies, analyzing your client's competitive position, and converting this knowledge into tax planning and business advice. Increasing exposure into specialized tax niches will position your work force to capitalize on emerging cross-selling opportunities. Key subject matters covered include ASC740 and deferred income taxes, estates and trusts, tax exempt organizations, real estate transactions, and advanced S Corporation concepts. This level will give Staff, Seniors and Supervisors the confidence necessary to begin assuming client and engagement management responsibilities.

This live training features instructor guided discussion and application exercises covering the practical application of the concepts discussed.

With a maximum 25-seat capacity, this event gives you the advantage of sharing thoughts and challenges with speakers and colleagues in a small, virtual group setting. You’ll walk away with new skills and expertise, giving you the knowledge and confidence needed to excel as you progress through levels at your firm.

These courses will prepare you to:

• 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 sellers
• Prepare and use Forms 990, 990-EZ, and related schedules · Understand which organizations must file returns and which are exempt

For best results, please ensure your video and audio are operating properly. Zoom system requirements. Accessing the live sessions: Your Zoom link will be emailed to you approximately 3 days prior to the start of the event.

Agenda

Day 1, IRS Disputes and Income Tax Accounting

11:00am – 11:05am Eastern

• Introductions

11:05am – 12:30pm Eastern

• Assessment Process and Statute of Limitations, Examination and Appeals, The Collection Process: Notices, Federal Tax Lien, Levy, Seizure, and Sale, Installment Agreements

12:30pm – 1:00pm Eastern

• Lunch break

1:00pm – 2:30pm Eastern

• Offers in Compromise, Tax Liabilities and bankruptcy

2:30pm – 5:00pm Eastern

• Theoretical Concepts of FASB ASC 740, Temporary Differences, FASB ASC 740: Identifying Tax Differences and Deferred Tax Worksheet, Accounting for Uncertainty in Income Taxes, Reporting and Disclosure Under FASB ASC 740: Theory and Examples, FASB ASC 740-20: Intraperiod Tax Allocation
  

Day 2, Advanced Tax Planning S Corporation

11:00am – 12:30pm Eastern

• Basis in S Corporation Stock, Distributions, Compensation Planning

12:30pm – 1:00pm Eastern

• Lunch break

1:00pm – 5:00pm Eastern

• Use of Qualified Subchapter S Subsidiaries, Liquidations, Reorganizations and Redemptions, Estate Planning and the Use of Trusts, S Corporations and IRC Section 199A

Day 3, Individual Tax Planning

11:00am – 12:30pm Eastern

• Maximizing Tax Benefits for Sales of Capital Gain Assets and Real Property, Planning for Employer Stock Options, Employer Stock Held in Retirement Accounts, and Restricted Stock

12:30pm – 1:00pm Eastern

• Lunch break

1:00pm – 5:00pm Eastern

• Maximizing Tax Benefits for Personal Residence Transactions, Tax Planning Opportunities with Vacation Homes, Timeshares, and Co-Ownership Arrangements, Tax Planning for Marital Splits and Married Same-Sex Couples, Tax-Saving Tips for Self-Employed Taxpayers Purchase Price Allocation, Tax-Smart College Financing Strategies

Day 4, Introduction to Business Acquisitions

11:00am – 12:30pm Eastern

• Business Transaction Basics, Transaction terms and Key Documentation, Introduction to Due Diligence, Taxable Versus Tax-Free Transactions

12:30pm – 1:00pm Eastern

• Lunch break

1:00pm – 5:00pm Eastern

• Asset Versus Stock Sales, Purchase Price Allocation, Section 197 Assets, Installment Sales, Transaction Costs, Limitations on the Use of Tax Attributes, IRC Section 280G Golden Parachute Payments, State and Local Tax Considerations

Day 5, Advanced Taxation LLCs & Partnerships

11:00am – 12:30pm Eastern

• Allocation of Partnership and LLC Income Under Section 704(b), Allocations with Respect to Contributed Property Section 704(c)(1)(A), Allocation of Partnership Recourse Liabilities Under Section 752

12:30pm – 1:00pm Eastern

• Lunch break

1:00pm – 5:00pm Eastern

• Allocation of Partnership Nonrecourse liabilities and related deductions under sections 752 and 704(b), Advanced Distribution Rules, Adjustments to the Basis of Partnership or LLC Assets, Sale of an Interest in a Partnership or LLC