THE EVENTS WILL BE HELD LIVE AND ONLINE AS INDICATED
Post-COVID the seminars are normally held at the Trevose Radisson Hotel located at 2400 Old Lincoln Highway, Trevose, PA, 1/4 mile south of PA Turnpike Interchange 351 unless otherwise indicated. Attendees are responsible for their own room reservations: (215) 638-8300 (see map below)
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June 23, 2023
Buying and Selling a Small Business – Critical Tax and Structuring Issuses Webinar 8 a.m. – 4:00 p.m., with speaker, Susan Smith CPA, EA, 8 hours Other
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Course Description: One of the major transactions CPA clients are faced with is the purchase or disposition of a business. To help tax professionals advise those clients, this course offers a comprehensive analysis of the business and tax aspects of buying and selling a business. It is a practical guide to help practitioners and industry CPAs understand structuring techniques. All CPAs, including controllers and executives in industry, should understand how difficult the process of buying and selling a business has become. Major Topics: An overview of the business evaluation process, Negotiation points and goals from buyer and seller standpoints, An overview of confidentiality agreements, memorandums of understanding, and asset purchase agreements, Recognizing the need for due diligence in acquisitions, including checklists of important points, Deemed asset sales – §338 and §338(h)(10) The use of “F reorganizations” in lieu of §338(h)(10) The impact of the §197 amortizable intangibles regulations on the acquisition and disposition of a business, Allocating purchase price for tax advantage, Impact of the net investment income tax (NIIT) and the §199A pass-through deduction on the tax due on the sale of a pass-through entity, Changes in strategy under the new tax laws Liquidation as an alternative to the sale of a business Planning to avoid double taxation, Special problems and opportunities when an S corporation is the buyer or seller Installment sale and interest issues, Avoiding tax pitfalls and recognizing tax planning opportunities. Learning Objectives: Understand the factors that must be considered for due diligence and developing a valuation, Understand the goals and methods of negotiating the final purchase price, Identify the different tax consequences of various forms of acquired businesses, including the impact of the net investment income tax (NIIT) and the §199A pass-through deduction, Appreciate §338 and §338(h)(10) elections and the benefits of installment sales, Learn how strategies have changed under new tax legislation Understand the required reporting to the IRS regarding the purchase or sale of a business and how to complete the forms. Designed for: All practitioners who will be involved in the sale of a business.
Course Title: Social Security and Medicare With The Experts In-Person 8 a.m. – 12:00 p.m., with speakers from Social Security and the Centers for Medicare and Medicaid – Richard Gaudiosi and Monique Scott
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Course Description:
TaxSpeaker – Business Tax Update In-person and webinar 8 a.m. – 4:00 p.m., with speaker Mark Mirsky, CPA, MST, CGMA
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Course Description:
Many firms wish to attend an annual update that covers all of the changes that affect business entities in the current year, as well as detailed analyses of how the new tax laws will affect your business tax clients. Kept up to date through the day before the class, this class will include the latest modifications from Congress as well as other relevant IRS Notices, announcements, ruling and court cases for corporations, S corporations and entities taxed as partnerships and discussion of common compliance issues encountered during tax preparation season. Upon completion of this course you will be able to advise clients about the latest C and S Corporation tax changes, as well as LLC changes and you will be able to explain the latest changes in tax law to your business clients, as well as differences in entity types. Participants will be able to provide clients with the characteristics, advantages, and disadvantages of LLC’s and inform clients of the various characteristics and tax implications of the S corporation form of business entity. The course will include the latest modifications from Congress as well as other relevant IRS Notices, announcements, ruling and court cases for corporations, S corporations, and entities taxed as partnerships and discussion of common compliance issues encountered during this year’s tax preparation season.
Surgent – Financial Reporting Update In-person and webinar 8 a.m. – 4:00 p.m., with speaker Rebecca Lee, CPA
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Course Description: Designed for all tax practitioners, including those who just prepare returns and those who assist on financial statement engagements, this course will replenish your accounting and reporting tank with an update of recent standard-setting activities at the FASB and AICPA. To start, the course will review the significant new financial accounting, auditing, accounting services and ethics guidance issued by standard setters over the past few years. The course will also focus on the unique income tax reporting implications of recently issued accounting standards, such as revenue recognition (ASC 606) and leases (ASC 842). The course then discusses the preparation of tax-basis financial statements. Lastly, the course will dive into the unique income tax accounting considerations which arise from certain types of transactions, such as stock-based compensation, and review the presentation and disclosure requirements of ASC 740. Major Topics: ASC 740 considerations related to the CARES Act, Recent standard setting and consulting activities at the FASB, Proposed updates to income tax accounting and financial statement disclosures, Tax basis financial statements, Recently issued Statements on Auditing Standards and other audit-related hot topics SSARS No. 21, Clarification and Recodification, and other recently issued and proposed SSARS. Learning Objectives: Become up-to-speed on recent standard setting activities at the FASB and the AICPA. Determine the income tax accounting impact of recently issued and proposed FASB ASUs, Be aware of auditing trends on the radar Understand and apply the SSARS No. 21, Clarification and Recodification, relating to the preparation of financial statements and new guidance on compilations and reviews Designed for: All tax practitioners desiring to remain up-to-date on recent accounting, reporting, and compilation and review activities.
Jennings-TaxSpeaker 1040 Tax webinar 8 a.m. – 4:00 p.m., with speaker Bill Leonard CPA, MAFF, CGMA, 16 hours Federal Tax
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Course Description: Also qualifies for 14 hours CLE for attorneys. Jennings-Taxspeaker’s 1,100 page course manual supports the Form 1040 with TaxSpeaker’s® 1040 Tax in Depth course! Our 2023 course will include detailed coverage, with planning ideas, of the latest changes from the 2022 Secure Act, court cases, IRS changes and all late-season Congressional changes up to the day before the class with special focus coverage of pension changes, high risk areas and our annual review of common preparation issues and new court cases and IRS guidance. Because all speakers are also practicing professionals you receive practical insight and planning issues throughout the two days. As our flagship course, we take particular pride in its consistent quality and provision of the most thorough and hands-on individual tax preparation guidance. The included manual is bursting with over 1,300 hyperlinked citations to the accompanying free online tax research library. On top of that, it is America’s only Form 1040 manual to be regularly and independently recognized as the Top Research Live Course CPE Manual in the United States for six straight years. Its 1,100+ practitioner-written pages are saturated with logically organized guidance to complement the IRS’s methods for assembling returns. This manual is provided in both in print and digital formats to course attendees, who also enjoy the value of energetic and knowledgeable teaching from our expert instructors. Participants also receive practical guidance, dozens of checklists, worksheets, and client letters, plus “What’s New” information. This seminar also includes a hyperlinked PDF of the manual, four-page laminated desktop reference “Fingertip Facts,” and a free 2-hour self-study ethics course. Upon completion of this course, attendees will be able to properly prepare, report amounts on, file, and deduct disaster losses from Form 1040. We will also teach you how to determine which credits clients may qualify for on their 1040 returns to reduce taxable income, including methods to save for their dependent children’s college education and other education credits and deductions. In addition, this course covers appropriate handling of IRS client audits, compliance with Circular 230 ethics regulations, and advice for clients under military special taxation rules.
IRS/NJ Division of Taxation/PA Department of Revenue In-person and webinar 8 a.m. – 4:30 p.m., with speaker Richard Furlong, IRS Stakeholder Liaison, Christina Quiones, NJ and PA Representatives, 8 hours Tax
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Course Description: The course will provide updates from The Internal Revenue Service, State of Pennsylvania and State of New Jersey.