TaxSpeaker

Taxes

Self Study / Seminars

1040 Boot Camp

This intensive 2-day course begins with an overview of what is expected of an average beginner tax professional in terms of profit generation, accuracy and ethics. It will provide minimally experienced staff (including beginners) with hands-on training from 2 firm-owning instructors with over 75 years of small firm tax preparation experience. It will be team taught by Bob Jennings and Ron Roberson. Taxspeaker has the immersive training scheduled in 2 convenient airport hub locations. The hotels (Embassy Suites in both cities) have included free breakfast, comfortable, quiet, private sleeping rooms and free airport shuttles. The course is scheduled for Aug. 5-6, 2019 in Denver at the Embassy Suites-Stapleton, and August 8-9 in Charlotte at the Embassy Suites Charlotte airport. All students are expected to stay at hotel using discounted room block. Registration fee is $450 per student and includes breakfast & lunch each day, manual and comprehensive training. Multiple students from the same firm qualify for a discount (2-4 $400 each; 5 or more $360 each)

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1040 Tax in Depth

Wow. That’s all we can say about America’s only independently awarded recognition for multiple years as the top Research live-course CPE manual in the country. With over 1,100 pages of practitioner-written guidance, organized in the logical form order used by the IRS to assemble returns, participants receive both a printed and electronic manual. Written and taught by actual practitioners known for high-energy presentations in educational and humorous, yet informative manners, this course has been ranked as TaxSpeaker’s® finest course for 15 straight years. Because all of our speakers are required to personally prepare, for compensation at least 200 returns annually, participants are assured of receiving practical guidance, excellent speakers, and dozens of checklists, worksheets and client letters while obtaining the latest “What’s New” information. Our 2018 course will include detailed coverage, with planning ideas of the Tax Cuts and Jobs Act, special focus coverage of sole proprietorship issues and emerging economy issues (Consumer-to-consumer sales, Crypto-Currency, etc.) as well as our annual review of common preparation issues and new court cases and IRS guidance. In-depth example coverage of the new mortgage interest rules and the dependent credit will provide professionals with the answers to their latest 1040 client questions. Because this is TaxSpeaker’s® flagship course participants are assured of receiving the best, most thorough and hands-on individual tax preparation education available in the country, and the independently awarded recognition proves it. At TaxSpeaker® we don’t self-anoint our books or instructors as “The Best”, we let independent third parties do it for us! The 1040 In Depth course will include all of the changes to individual tax returns; plus discussion of the 20% flow through deduction, in addition to all of our other Whats New items, the February, 2018 extender bill; and the March 2018 Budget Bill.

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1041's for Trusts & Estates

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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20% Flow Through QBI Deduction

This class is designed with only 1 goal in mind: to fully explain the brand new 20% of qualified business income deduction. We discuss what types of income qualify for the deduction; what entities qualify (and don't qualify); and what phase out tests apply. We discuss and define "specified services", the W-2 threshold; the depreciable asset rules and then show you when they apply and how to calculate the effects of these phase outs. With over 25 examples, a free Excel calculator; worksheets and tables, this course will be your "go-to" to understand and apply this new deduction, just what you expect from all Taxspeaker courses.

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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 accounting methods course (2 hours) will be updated to include several completed Forms 3115 illustrating the new accounting method rules and limits, and how to change to the cash method of accounting from the accrual method.

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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 in Depth

In 2018 this class will almost become a “must” for practitioners. The new Tax Cuts bill changes everything we know about the formation and operation of C corporations, LLC’s and S corporations. This year’s course will include a special chapter focusing on accounting methods (and changes!) as a result of the new cash method and Section 263A limits, and will include example completed Forms 3115 showing how and when the changes may be made. The 2018 in-depth course will also include detailed analyses of the choice of entity that best fits the taxpayer and in-depth discussion of the new 20% flow-through deduction. The LLC chapter will provide guidance on the new partnership audit regulations; the C corporation chapter will discuss the new tax rate and penalty taxes; and the S corporation chapter will examine the 20% flow through deduction, plus the impact of the new tax law on built in gains and the interaction of wages vs. the flow through deduction. Combining the 3 focus areas of C corporations, S corporations and LLC taxation with these two special topics will make this one of the most relevant courses a participant will take in 2018. The Business Tax In Depth (16 hours) course for 2018 will include detailed analysis of the new 20% flow through deduction, plus the new depreciation rules and changes in the entertainment rules. We will include the new accounting method discussions, with an example Form 3115 on how to change methods. The C corporation chapter has been greatly modified to address the new popularity of the C corporation, and the S corporation class has been updated to discuss issues affecting S corporations in the new law such as built in gains; wages and specified service planning ideas.

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C Corporations

This 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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Choosing a Business Entity

Includes in-depth discussion of the new law, the interaction of the new low C corporation tax rate and the 20% Flow through QBI deduction, as well as multiple entities.

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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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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 & Amortization

This course has been totally updated for the new Section 179 rules, the new bonus depreciation rules; the new Qualified Improvement rule; and the new luxury car depreciation rules. Excellent course for updated guidance.

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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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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. All examples have been updated for the effects of the new law.

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Exit Strategies

The exit strategies course includes guidance to the accounting professional facing retirement, growth limitations, workload and special client needs. It also includes 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 & Individual

This no-frills course has been designed to review all changes affecting for-profit taxpayers, combining the individual update with the business update and in-depth discussion of the new 20% flow-through deduction without all of the planning and compliance discussion available in the more specialized updates. Just the facts without the frills! Will include explanation and analyses of the Tax Cuts and Jobs Act

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Federal Tax Update-Corporations & Partnerships

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 a detailed analyses of how the new tax laws will affect your business tax clients. Kept up to date through the day before the class, in 2018 this class will include the Tax Cuts and Jobs Act as well as other relevant IRS Notices, announcements, ruling and court cases for corporations, S corporations and entities taxed as partnerships and in-depth discussion of the new 20% flow-through deduction. The FTU for businesses will also review the latest depreciation changes including bonus, Section 179 and qualified real property improvements and changing accounting methods to take advantage of the new ability to use the cash method of accounting. Will include explanation and analyses of the Tax Cuts and Jobs Act

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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 Repos & More

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'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 2018 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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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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Practice Management

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 Corps From A-Z

Updated for the new law, this class guides participants through the formation rules and elections (and available late elections) required to be taxed as an S corporation, the operating tax issues encountered such as owner fringe benefits, pension plans, reasonable compensation and income allocations, in-depth discussion of the new 20% flow-through deduction and concludes with a review of unusual items such as terminating the S election, built in gains taxes, Q-subs and the rare 338 step up election.

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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 Cuts and Jobs Act

On December 22, 2017 the President signed the Tax Cuts and Jobs Act into law as the biggest tax law change in 30 years. Over 95% of the law goes into effect in 2018 and in this course we have two goals: first, discuss and analyze the changes for individuals and small businesses in-depth; and second, provide dozens and dozens of planning tips the professional may utilize for their clients. We include an Excel calculator of the 20% flow-through deduction and in-depth discussion of the new 20% flow-through deduction as well as discussion of how this new law may affect the choice of operating entity for a business. The TCJA has illustrated many concerns and this course answers practitioner questions on mortgage interest deductions; tax deduction limits for taxes; deducting meals and entertainment; what to do about employees business expenses; and how the new depreciation rules will work.

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Tax Planning for Individuals

This could be the best course you will take in 2018. It has been designed and written exclusively for the planning aspects of the Tax Cuts and Jobs Act and includes dozens of ideas and tools to help taxpayers utilize the income tax opportunities available in the Act. Designed to guide the practitioner through dozens of old and new planning ideas, this class gives participants the tools needed to help clients through items such as unusual income years, as well as long-term guidance for small businesses and high and low income individuals as a rare course designed for tax planning rather than tax compliance. This course will discuss options for dealing with the lost deduction for employee business expenses, the limit on itemized deductions for taxes, and the new interest deduction rules. It will also lead the practitioner through themaze of new thresholds for itemized deductions and guide small business owners with fringe benefit tools. A number of retirement planning tools are discussed while examining the appropriate uses and modifications allowed for various types of plans. The chapter for small business owners analyzes the attributes of various entity types including the low C corporation tax rate, wages vs/ dividends and the 20% flow through deduction. The individual tax planning course is divided into three sub-topics: planning ideas for the W-2 taxpayer; planning ideas for the small business owner; and planning ideas for everyone. Each sub chapter includes 15-30 planning tools, checklists and example guidance illustrating the rules and tools needed to utilize the idea presented.

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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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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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