As financial and tax professionals well know, information overload is a constant struggle we face because things change quickly, and the sheer number of changes being made on a daily basis is enormous. Of great importance to small and medium tax and advisory firms is differentiating between changes that are relevant to our practice and...
While the effective date of Topic 606 has passed for most entities, there will always be a need for a comprehensive review of the accounting related to revenue recognition. Also, if you are taking advantage of the FASB deferral of Topic 606's effective date, you are still completing your implementation plan. Whether you are looking...
As financial and tax professionals well know, information overload is a constant struggle we face because things change quickly, and the sheer number of changes being made on a daily basis is enormous. Of great importance to small and medium tax and advisory firms is differentiating between changes that are relevant to our practice and...
This course introduces key cybersecurity concepts tailored for financial professionals. It emphasizes the CPA's role in cyber risk management, key terminology, and practical steps to foster a security mindset, integrating cybersecurity with financial reporting.
Each year brings its own set of tax planning challenges, and this year is no exception. This course aims to arm tax planners with planning strategies and ideas that all clients, but in particular, wealthy clients, middle-income clients, and closely held business owners need to consider right now to take advantage of present opportunities and...
Social Security seems poised for changes in benefits and eligibility age. The leading edge of the baby boomer generation has already reached retirement age. Financial and tax planners can expect increased demand for strategies that dovetail Social Security with other retirement and estate planning objectives. This course provides tax and financial planning professionals with both...
Many consider taxation of construction contractors to be the most complex area of the Internal Revenue Code. This industry is subject to many elections and considerations to reduce or defer amounts owed. In this course, we will highlight these areas and discuss potential opportunities for practitioners and their clients. We will also discuss the impact...
Increased funding resulting from the enactment of the Inflation Reduction Act will allow the IRS to target many more wealthy individuals and large businesses for audit. These efforts will become more intense over the next several years as the IRS employs artificial intelligence in more of its audits. This program discusses how and when the...
This course is a great foundation to introduce new preparers to tax rules related to business returns. The course covers tax areas affecting all business entities, providing a solid basis for staff to handle business entity returns. Such business tax topics include the sale of assets used in a trade or business (Form 4797), depreciation...
In 2006, Congress passed the Tax Relief and Health Care Act. Prior to the Act's passage, rewards to individuals who provided information to the IRS regarding tax fraud were capped at $10 million. The Tax Relief and Health Care Act authorized the IRS to create a Whistleblower Office dedicated to investigating, processing and recovering claims...
Recent feedback from the AICPA has emphasized the importance of performing an effective risk assessment to identify and evaluate the risk of material misstatement in a financial statement audit. SAS 145, the 2023 amendment to AU-C 315, makes significant changes to the extant risk assessment standard and certain changes to other standards as well. The...
As a byproduct of the audit, the auditor has a responsibility to communicate certain information to management and those charged with governance, primarily related to risk and internal control deficiencies. In some cases the auditor may be required to report outside the entity, for example, when fraud is identified. Some of these communications to management...
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