Having sufficient assets to live a comfortable and secure retirement is one of the concerns that many people face. This concern cannot be resolved without having a solid retirement plan. In this course, we will discuss the foundation of most people's retirement planning - qualified plans. We will discuss the types of qualified plans, how...

Financial planning for a small business is inherently tied with the owner. When you plan for the future of the company, you are planning for the individual as well. Trying to get the owner additional cash from his/her company is a common issue faced by many advisors. However, it is important to realize that the...

As the cost of higher education continues to climb, paying for college has become a much bigger strain on the wallets of American families. For this reason, a greater value has been placed on education planning. However, knowing how financial aid and education credits fit together is a challenge for the practitioner. Perhaps an even...

Depreciation can be a very large and important deduction for owners of rental properties and small businesses. It can allow these taxpayers to be cash flow positive while declaring significantly less taxable income. However, this gets tricky. Are there elections we can make that may help us in later tax years? When does depreciation need...

After the loss of a loved one, nothing can be more stressful to the client than trying to deal with tax filings. As practitioners, we can make the lives of clients dealing with these losses much easier if we can help them navigate these forms. In this course, we will discuss some of the opportunities...

Whether you are an experienced veteran or new to the industry, one of the toughest parts of being a tax practitioner is keeping up with all of the changes in tax legislation. The Keeping Up the Code series takes a look at recent changes to tax law from a practitioner perspective. We don't just hurl...

Whether you are an experienced veteran or new to the industry, one of the toughest parts of being a tax practitioner is keeping up with all of the changes in tax legislation. The Keeping Up the Tax Code series takes a look at recent changes to tax law from a practitioner perspective. We don't just hurl code...

Even though it has been around several years, many practitioners fail to take full advantage of the QBI deduction due to its complexity and many nuances. In this course, we will discuss how to maximize the QBI deduction. We will get into the details of what QBI includes (and doesn't include), which entity structures work...

The Schedule K-2 & K-3 reporting requirements have been challenging for many practitioners. Confusing guidance on who needs to file and relief from stiff penalty provisions are only half the battle. How do these forms change the calculation of the foreign tax credit on Form 1116? What about the Form 1118? Do Form 8865 filers...

The regulatory world is complex for financial advisors. Not only are you subject to SEC and FINRA regulations, but also what the IRS does as well. Clients expect you to be on top of what is happening in the world of investing, insurance, and taxes. It is not enough to just know the code section...

Whether you are an experienced veteran or new to the industry, one of the toughest parts of being a tax practitioner is keeping up with all of the changes in tax legislation. The Keeping Up with the Tax Code series takes a look at recent changes to tax law from a practitioner perspective. We don't just...

If you are a client-facing tax practitioner that is looking for a tax update that gives practical advice without all the fluff, this is the course for you! As the year winds down, CAS professionals face a wave of year-end deadlines, planning opportunities, and questions from clients. In this course, we'll cover year-end payroll and...

Even though they have been around for several years, the tax laws pertaining to S-Corporations remain some of the more difficult areas of the Internal Revenue Code. Given the rising popularity of S-Corporations, understanding how shareholder basis and the equity section of the balance sheet work together for tax purposes is imperative for nearly any...

Whether you are an experienced veteran or new to the industry, one of the toughest parts of being a tax practitioner is keeping up with all of the changes in tax legislation. The Keeping Up the Tax Code series takes a look at recent changes to tax law from a practitioner perspective. We don't just...

Being a tax practitioner over the last few years has been tough! The tax landscape is constantly changing, and this shows no signs of slowing down. With the passage of the One Big Beautiful Bill Act (OBBBA) and the more recent guidance about it, there's even more for practitioners to keep up with. Now more...

In an increasingly online world where geography is less important, some companies are looking outside of the United States for talent. However, foreign contractors have many unique tax attributes - and their filing requirements can differ depending on if they are classified as a resident or nonresident alien. In this course, we will discuss basic...

Being a tax practitioner over the last few years has been tough! The tax landscape is constantly changing, and this shows no signs of slowing down. With the passage of the One Big Beautiful Bill Act (OBBBA), there's even more for practitioners to keep up with. Now more than ever, you need more than just...

Whether you are an experienced veteran or new to the industry, one of the toughest parts of being a tax practitioner is keeping up with all of the changes in tax legislation. The Keeping Up with the Tax Code series looks at recent changes to tax law from a practitioner perspective. We don't just hurl...

As gig workers, remote employees, and hybrid working environments have become more commonplace, the tax rules pertaining to independent contractors and employees have become more complex. If someone can work whenever they want, are they still an employee? How are expense reimbursements reported? And most importantly, what happens if a contractor should really be classified...

One thing that is nearly impossible to get away from as a tax practitioner is IRS notices. Even if you are not a tax attorney, it is important to know what to do when the client comes to you with a letter. What information do you need to collect? What types of notices are there?...

With the rising cost of college, education planning has become an increasingly greater need for clients. 529 plans continue to be a valuable way to save for college in a tax-efficient way. However, are there any costs that 529 plans cannot be used to cover? What about using 529 plans to cover student loan payments?...

Partnership distributions of cash to the partners are generally straightforward to handle. However, when partnerships begin to distribute property, things can get tough! When do we need to recognize gain? What type of gain do we recognize? When does a disproportionate distribution result in ordinary income? And what about 704(c)? When these situations come up,...

A deduction is a deduction is a deduction. Right? Well, not exactly. In corporate taxation, the general rule is that a corporation can deduct any expenditure that is ordinary, necessary, and reasonable. However, there are nuances that we need to be aware of, such as a floor on charitable contributions, limits on meals, and even...

When a new business is formed, there are a lot of questions. What is the most tax-advantageous way to structure the entity? What issues do we need to be aware of? How should owners pay themselves? For corporations, these questions are even tougher since they are regulated so heavily. In this course, we will discuss...

Partnership tax law is always difficult. However, when certain transactions come up, not knowing how to handle them can be costly to clients and practitioners. In this course we discuss several of these types of situations. We will explore the tax impacts of a PTE election and how a 754 election affects the inside basis...

In the early days of a small business, the owner is often putting every dime they have back into the business. Once the business starts to make money, the question often arises as to how to get money out of the business in the most tax-advantageous way possible. In this course, we will explore this...

The sheer number of sources of tax law can be overwhelming when you are first starting off as a practitioner. How do you differentiate between each one? What does each of them do? And what happens when there are conflicts between them? Through simple, plain language explanations and examples, this course gives the new practitioner...

Answering clients' tax questions accurately and on time is a key challenge for tax practitioners. Through simple, plain language explanations and examples, this course will help practitioners perform tax research more efficiently by describing the structure of the primary sources, highlighting the difference between primary and secondary sources and describing the steps in the tax...

As a practitioner, you know that sometimes small business owners make little distinction between their own pocketbook and the company's pocketbook. For this reason, distributions from smaller partnerships can be frequent. It is important for us, as their advisors, to know what the tax impact is for these distributions - which ones will be fine,...

When a new employee is hired, there are a lot of things the employer needs to take care of. Aside from getting employment contracts signed, training lined up, and the new hire breakfast planned, employers are tasked with making sure all of the payroll forms are filled out. For many small business owners, this can...

Gifting is a key part of any estate plan. If done correctly, wealth can be transferred to other family members and loved ones while minimizing the tax effects. However, clawback provisions, exemption limitations, and the estate tax structure make this process wrought with potential pitfalls. In this course, we will discuss the rules surrounding gifting,...

Even though they have been around for several years, the tax laws pertaining to S-Corporations remain some of the more difficult areas of the Internal Revenue Code. In this course, we will examine how S-Corporations break away from the normal tax rules for flow-through entities. We will explore which employee benefits are disallowed for S-Corporation...

The estate tax return is very different from nearly every other IRS filing. It is filled with nuances and details that often elude the average practitioner. To make matters worse, clients who have to file a Form 706 are generally wealthy, so errors can be costly. In this course, we will discuss some basic tax...

One thing that is nearly impossible to get away from as a tax practitioner is IRS notices. Even if you are not a tax attorney, it is important to know what to do when the client comes to you with a letter. What information do you need to collect? What types of notices are there?...

After the Tax Cuts & Jobs Act, practitioners had to change their approach to planning. There simply were not as many itemized deductions as there used to be. While many courses focus on complex strategies that will only work with high-net-worth clients, there are many effective strategies still available today that will work with any...

When a new employee is hired, there are a lot of things the employer needs to take care of. Aside from getting employment contracts signed, training lined up, and the new hire breakfast planned, employers are tasked with making sure all of the payroll forms are filled out. For many small business owners, this can...