TaxSpeaker

Taxes

Self Study / Seminars

1040 Tax in Depth

America’s only CPE award winner continues its tradition as a CPE class combined with a 1040 desktop reference guide. For 2017 we will continue our 4 special focus chapters with new topics of: Amended returns; final returns for deceased; small business pension plan issues; and divorce. The manual begins with our coverage of individual law changes in the powerful and popular “What’s New” discussion, which usually takes ½ of the 2 days. The course then proceeds through problem area and special focus issues and ends with industry issues on the latest concerns. As the only CPE provider recipient of the CPA Technology Advisor’s top research award you are assured of getting the best reference material available presented in an educational, yet interesting format.

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754 Step-Up basis election

While discussing advanced business tax issues, we broke out a special discussion and overview of basis rules and then did in-depth discussion of the 754 step up basis election for LLC's and partnerships. The discussion was so good and the requests for the separate information so strong that we have broken that section of the day into a stand alone course. In this class Bob reviews all basis rules for partnerships and S corps, including at-risk and debt issues, leading into the 754 step up basis election. Bob then guides you through the analysis of 754 with numerous on-screen examples, actual elections and tax return completion tips, such as how to put it on a 1065, K-1 reporting, timely filing etc. This class will pay for itself the first time you need the election.

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Accounting Methods

The course provides a review of the cash and accrual methods of accounting for income tax as well as the requirements to change to the accrual method at verious sales levels. It includes a comprehensive example with a completed Form 3115 to change from cash to accrual. The course also reviews the uniform capitalization rules of Section 263A, when the rules apply, how to apply them, and provides a link to a free Excel program that calculates the 263A adjustment. The course also discusses reimursing owner’s expenses and other perational issues including year ends. It concludes with an example of a depreciation error, when and how to complete a 3115 for depreciation errors and an example completed Form 3115 for depreciation errors.

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Bankruptcy

This course examines the types of bankruptcy, the tax aspects of a bankruptcy estate and the tax ramifications and filing issues of the individual who takes bankruptcy. *This course is part of When Bad Things Happen to Good Taxpayers*

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Basis-S Corps & Partnerships

We will provide discussion, with examples, of initial basis, annual basis calculation, basis limits and debt relationships to basis for S corporation shareholders and Partnership/LLC members.

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Business Pension Plans

Updated for the 12/2015 PATH Act and the 2015 Trade Bill. In this course, you will learn about benefit plans, defined contribution plans including: 401(k), Roth 401(k), Solo 401(k), and all forms of IRAs including SEP, SIMPLE and Much more!

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Business Tax Credits

We discuss and review over 30 business tax credits, and analyze over 15 of the commonly used credits in-depth with examples including: Disabled Access Credit, Tip Credit, Employer Provided Child Care Credit, Small business health care credit, Real Property Rehabilitation Credit and more!

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Business Tax in Depth

This in-depth analyses of tax issues facing regular corporations as well as S corporations and LLC’s provides answers to the day-to-day compliance issues involved in preparing these returns, and adds over 500 pages of reference guide. The business tax course also includes discussion of the manufacturer’s deduction, fringe benefits and depreciation and amortization issues. As with all TaxSpeaker courses, it begins with the “What’s New” analyses of law changes and court cases.

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C Corporations

C Corporations The discussion of C corporations provides guidance on: Tax operating characteristics of the C corporation including accounting methods, Choice of year-end, C corporation Capital losses, Net operating losses and A summary of consolidated return rules. Our discussion of C corporate reasonable compensation also includes an analysis of constructive dividend problems and concludes with a review of such problem issues as personal holding companies (PHC), personal service companies (PSC) and the accumulated earnings tax (AET).

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Cancellation of Debt

In this course Ron Roberson explains how to handle the receipt (and non-receipt) of a 1099-C or debt cancellation income. He also explains income exclusions such as insolvency, bankruptcy and qualified business indebtedness. *This course is part of When Bad Things Happen to Good Taxpayers*

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Charity Bargain Sales

If you sell or exchange property for less than fair market value with the intent of making a gift, the transaction is partly a sale or exchange and partly a gift. Bargain sales to charity allow donors to support a favorite cause while also gaining some liquidity in return. For example, when appreciated property is worth more than a prospective donor is willing or able to give, a bargain sale can split the asset into two pieces: a deductible contribution and a taxable sale. A bargain sale of property to a charitable organization is partly a sale or exchange and partly a charitable contribution. This course provides the rules, the examples and the calculators to take advantage of this special treatment. 2014 Course Version

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Clergy Tax

This course reviews the preparation of tax returns for members of the clergy. It covers housing allowances, fringe benefits, ministerial expenses, and accountable plans. We provide several practice aids for the church and the minister.

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Complete Retirement Guide

Updated for the 12/2015 PATH Act and the 2015 Trade Bill, In this course, you will learn about benefit plans,defined contribution plans including: 401(k), Roth 401(k), Solo 401(k), and all forms of IRAs including SEP, SIMPLE. You will also learn about all forms of IRAs, including the history of IRAs, prohibited transactions rollover IRAs and a variety of topics with regards to Form 5329 Retirement Distributions & Penalties.

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Corporate Formation Issues

This course begins with a comparison of the different types of business entities. It then moves to specific issues associated with forming a corporation including the Section 351 rules, liabilities, Section 1244 Stock, and more.

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Depreciation

Totally rewritten for 2017, the 2017 Depreciation manual includes guidance on every depreciation change included in the December 2015 PATH Act, as well as guidance on the new de minimis rules (including the $2,500 amount) and detailed guides for daily depreciation decisions. Including in-depth discussion of amortization, depletion, bonus depreciation, Section 179 and in-depth calculation analyses this is your complete source for guidance! We also provide a completed Form 3115 using the newly redesigned Form to show how to fix depreciation errors.

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Disaster Losses

In this course the instructor explains the tax rules regarding disasters including federally declared disaster areas, filing extensions, casualty loss deductions and income exclusions. *This course is part of When Bad Things Happen to Good Taxpayers*

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Divorce

In this course Ron Roberson explains the tax intricacies that revolve around divorce including income allocations, alimony, expense allocations and dependents. He also discusses planning tools and ideas and compliance requirements. *This course is part of When Bad Things Happen to Good Taxpayers*

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Education Deductions & Credits

The course begins with an overview of the options available to taxpayers for saving money for college including a comprehensive discussion of financial aid forms (FAFSA). It then moves to an in-depth discussion of Section 529 plans, including prepaid tuition and college savings plans while analyzing the benefits of each and comparing them to other plans including a Coverdell vs. 529 comparison. The course also covers the remaining options including Series EE bonds, Coverdell ESAs, Traditional and Roth IRAs, Borrowing from a 401(k), The Uniform Gift to Minors Act, and Mutual funds. The discussion of using Roth IRAs and regular IRAs for college includes 2 real-life case studies. The course concludes with coverage of the American Opportunity Credit and the Lifetime Credit and tuition and student loan interest deductions available for those seeking higher education. It has been updated for the eff

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Employee or Independent Contractors

In this course you will learn about a variety of topics with regards to determining status as an employee or an independent contractor and much more.

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Entity Conversions

This multi-case study course examines: Entity conversions and provides forms, elections and checklists, including sample completed tax forms. Conversion cases include: Converting a C corporation to an S corporation, with built in gains tax; Converting LLC to C Corporation; Converting LLC to S corporation; Converting S Corporation to C corporation; Incorporating a Sole Proprietor to S corporation.

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Estate & Gift Tax Update

In this course you will learn about a variety of topics regarding estate and gift tax planning ideas such as gifting strategies, medical exclusions, education exclusions and gift splitting as well as estate and gift exclusion amounts.

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Exit Strategies

The exit strategies course is designed to provide guidance to the accounting professional facing retirement, growth limitations, workload and special client needs. In this top-rated 2 hour course we determine how to value an accounting practice for both the buyer and the seller and provide checklists and guidance on transfers, non-competes, and non-solicitation agreements. We also discuss pricing and sales strategies and then ease into the discussion of adding a partner, including financial and practice management considerations, concluding with a discussion of firm mergers.

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Federal Tax Update-Business

With coverage of all of the 2017 court cases, IRS changes and new laws as they apply to S and C Corporations as well as LLC’s this class provides all of your up-to-date coverage of current business tax issues, while expanding into analyses of those problem areas encountered every year. Taught and written by practicing professionals, we identify and solve real-life preparation issues.

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Federal Tax Update-Business & Individual

This class focuses on changes, and only changes, that have been brought about for 2017 tax law changes, court cases, IRS announcements and rulings and other Federal actions that change or update the way we prepare Federal Tax returns. It includes all of the changes from the individual update, as well as all of the changes from the business update to provide a 1 day summary of the latest tax concerns. Written and updated up through the week before the class date, you can be assured of having the latest guidance available.

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Fringe Benefits

This Fringe Benefits course reviews all of the major fringe benefit plans that small businesses can use to benefit employees and owners such as: Child care, Education, Transportation, Housing, Health insurance and more. It provides case studies illustrating the application of many fringe benefits, client letters, example tuition reimbursement programs and accountable expense programs. Also illustrates employee vehicle use treatments, and provides numerous examples of travel, hotel, meal and similar fringe benefits.

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Health Savings Accounts-A complete guide

The Kaiser Family Foundation now reports that over 50% of all working Americans are covered by Health Savings Accounts. This course provides detailed knowledge, with completed forms, of how this plan works, what the traps are, how to comply with deposit and reporting rules, and how to plan for the best tax benefits. Stripped of political burdens, you receive clear yet concise guidance on how to advise and comply with unusual rules affecting over 50% of your client base from America’s HSA experts.

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Installment Sales Renegotiations & Repossessi

This course begins with an overview of installment sales. It then covers new gross profit percentages when sales prices are reduced in future years as well as the specific forms that may be included in a taxpayer’s return. It concludes with a number of problems and issues that may arise with installment sales.

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Intro to Social Security

This course is aimed at the individual that doesn’t need or want the detailed planning and calculations of a full-blown 8 hour course, but who wants an understanding of the main concepts and benefits of Social Security and Medicare. Taught by TaxSpeaker’s own Social Security experts, we even have our own employees and area residents take this class as one of the most hands-on, everyday life practical courses we teach.

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IRA Guide

Updated for the 12/2015 PATH Act and the 2015 Trade Bill, in this course you will learn about all forms of IRAs,including the history of IRAs, prohibited transactions rollover IRAs and much more!

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IRA's, Roth's and Conversions

This course covers all forms of IRAs including the history of IRAs, prohibited transactions, rollover IRAs and much more with the latest 2017 amounts.

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IRS Representation

This IRS Representation course begins with information about IRS notices, letters and transcripts, continues through the IRS organization and how to run a representation case. We then define the types of examinations Reviewing/challenging the document request(s), Minimizing the scope of the audit, When to concede an issue and when to press on Including consultation with other professionals, appeals, offers in compromise and other unique representation problems. Special attention is given to dealing with collections and enforcement actions such as Liens, Levies, Seizures and Garnishments and Installment agreements.

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Last Minute Tax Update

Review of extender bill and year end legislation.

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Like Kind Exchanges

This course reviews the advantages and disadvantages of like kind exchanges. It reviews all 4 types of exchanges; the deferred exchange, the simultaneous exchange, the build-to-suit exchange and the reverse exchange, as well as the new combination reverse and forward exchange. It also covers personal property exchanges, traps and pitfalls in exchanges, and works through a number of examples illustrating compliance.

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Long Term Care Insurance

Our Long Term Care Insurance course starts by covering the need for long term care insurance. We then cover the aspects of what Medicaid and Medicare pays for and what long term care insurance is, what it pays and does not pay, where to get it, where to use it and what to look for in policies. We conclude with a coverage of the latest changes in coverage and the tax treatment of premiums and payments.

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Medicare

In this course, you will learn about a variety of topics with regards to Medicare, including Medicare Parts A, B, C & D as well as Medicaid and much more

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Owners Compensation

Your instructor will explain the different compensation rules, requirements and options for paying the owners of entities taxed as partnerships, S corporations and C corporations. Objectives: AT the conclusion of this class the student will be able to guide clients in compliance with various compensation payment and reporting rules of the Internal Revenue Service.

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Owners Compensation

Your instructor will explain the different compensation rules, requirements and options for paying the owners of entities taxed as partnerships, S corporations and C corporations. Objectives: AT the conclusion of this class the student will be able to guide clients in compliance with various compensation payment and reporting rules of the Internal Revenue Service.

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Payroll – Hiring, Compliance, & Reporting

Our Payroll – Hiring, Compliance & Forms course begins with an analysis of whether an individual is an employee or a sub-contractor. We discuss Employee types, Required tax and record-keeping forms, Filing requirements, Withholding and deposit rules, and Payroll forms.

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Payroll – Year end Compliance: W-2’s and 1099’s

We start by covering employer requirements for hiring, record keeping, and posted information, and then move to employee payroll forms (including the I-9). We then move to wage discussions, 941 and 940 deposit and completion requirements, and finish the section with W-2 preparation issues. The second chapter deals with 1099 preparation and compliance issues. This one simple course is all you and your employees need to complete quarterly and annual payroll tax forms.

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Practice Management in Depth

Our Practice Management for Your Tax Office course addresses vexing small tax firm's issues and provides common sense guidance in the areas of Choosing tax software, Fees, Billing, Interviewing clients, Tax return processing, Client relationships, Compliance, Liability and Practice transfer issues & much more. Ask yourself these questions: 1. Did you work 60 or more hours per week this year in tax season? 2. Were you "maxed out" in terms of your ability to crank out quality tax returns, or close to it? 3. Did you make enough money to justify the wear and tear on your body, the toll on yourfamily and personal life, and to live comfortably the rest of the year? Did you answer yes to the first two questions, but no to the last one? It stinks, doesn't it? This means we worked our tails off, mis-treated ourselves and our loved ones, and did not make enough money doing it to make

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Retirement Distributions, Penalties & Inherit

This course discusses early distributions, penalty exceptions and Much more!

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S Corporations Built in Gains

In this course you will learn about a variety of topics relating to Built-in Gains in regards to S Corporations. Specifically, this course includes: Calculations of BIG and BIL Built-in Gains worksheet The Calculation of the Tax Eliminating and Reducing BIG tax Worksheets Examples Case Studies and Much more

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S Corporations From A-Z

In our S Corporation course we discuss: Elections using Form 2553, Late “S” election, Allowed shareholders, Reasonable compensation, Basis rules, Distributions and accounting issues, The use of ESBT’s, QSST’s and the Q-Sub. The “S” discussion provides the forms, elections and statements needed to convert a sole proprietor to an S corporation or to convert an LLC to an S corporation, as well as the guidance needed to convert a C corporation. The rare 338 step-up election for S corporations is discussed in example form. We also provide the instructions and elections to make a deemed dividend election or to distribute E&P before AAA. We will discuss troublesome operating issues such as officer compensation, suspended losses and non-cash distributions.

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S Corporations-338 Step Up Basis Election

Usually when the owner of an “S” corporation is ready to sell his or her company they are only interested in selling the stock in the “S” corporation. Occasionally there are exceptions to this treatment. If the seller is willing to accept a significantly lower purchase price the buyer may be enticed to buy stock rather than assets. In a 338 election, the buyer’s new corporation buys the stock of the seller’s old “S” corporation to ensure transfer of any contracts without legal ramifications, but the IRS treats it as an asset purchase to avoid disqualifying the new “S” corporation. We illustrate the proper treatment, elections and forms, with examples and completed forms of the 338 election.

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S Corporations-QSubs, QSST's & ESBTs

This course defines the various 3 trusts used in S corporation ownership and operations and provides coverage of the requirements of making the elections including forms and examples. It concludes with a summary of the appropriate situations to utilize trust ownership of an S corporation.

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S Corporations-Redemptions & Liquidations

In this course you will learn about a variety of topics with regards to Redemptions and Liquidations as they pertain to S Corporations. Specifically this course includes: CURRENT S CORPORATION RULINGS Sale or Exchange or Distribution Attribution Rules Sale VS Redemption Case Studies Much More 2014 Course Version

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Social Security

The Social Security Administration tells us that 10,000 Americans will turn 65 today, tomorrow and every single day for the next 14 years. This is the single biggest demographic change in the history of our country, with the single biggest need for advice. As Americans approach retirement age, they do not know where to turn for unbiased advice. In this incredible course, we provide you with the knowledge, the software and the guides to offer this new phenomenally in-demand advice to your clients. Updated for the latest changes, the 2016 complete Social Security course has new chapters on adding a Social Security consulting practice (with marketing and engagement letters as well as software guides) and planning situations. We recommend this class to all professionals of all ages because of the long-term planning possibilities.

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Surtaxes

This is a definitive guide on the Medicare and Net Investment Income surtax with dozens of examples, checklists and worksheets to help you navigate this complex and sometimes expensive topic. We provide clear examples, with calculations, of the deadly 3.8% net investment income surtax, but more importantly we provide guidance for planning to avoid the surtaxes.

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Tax Implications of Starting a Business

Our Tax Implications of Starting a Business covers the legal, tax and compliance characteristics of all forms of businesses in a comparative manner, including: C corporations, S Corporations, Partnerships, LLC and sole proprietorships.

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The Gig Economy

In this newly designed and written course we discuss the operational and tax aspects of the new economy including crypto-currencies, space/equipment sharing, short term rentals of vehicles and space, and many other emerging new business models.

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Trusts & Estate 1041s - the New Rules

Bill Leonard, CPA, CFFA and Charlie Slade, JD, CPA wrote this course from the point of view of the tax expert AND the lawyer. Acclaimed as "the best estates & trusts course ever-these guys are great!", the course covers how to prepare the forms, how to do the accounting and how to plan for the future.

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Unconventional tax wisdom

Using TheTaxBook’s online WebLibrary and hyperlinks from TaxSpeaker’s 1040 manual, we illustrate and discuss ten common income tax misperceptions and misunderstandings, explaining what the rules actually require, and provide examples of the correct rule application in real life.

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When Bad Things Happen to Good Taxpayers

In this class Ron Roberson discusses tax compliance, planning and positioning techniques for clients going through a divorce, a bankruptcy, a disaster and cancellation of debt issues, We present the rules and examples to complete the appropriate forms, advise the client what mistakes to avoid and actions to take when going through the relevant situation, and provide dozens of planning ideas to minimize short AND long term tax effects.

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