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*Review of pertinent cases and rulings regarding exclusions, character issues, retirement plans, travel and other items affecting your individual taxpayers *Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more *Recent developments with business entities, including C corporations, S corporations, partnerships, and limited liability companies; proposed changes to family limited partnership valuations *The latest on depreciation and safe harbor expensing options, including the ,500 de minimis expense item *The latest issues related to passive activities, substantiation and any other late-breaking tax law changes*What should be filed and reported *Who must file the return *Income, losses and deductions to be reported *Estimated taxes, liabilities and refunds *Income in Respect of a Decedent (IRD) considerations *Tax filing and reporting obligations *Who must file the final income tax return on behalf of the decedent *What income, deductions, credits and losses may be taken on the decedent's final income tax return *Determining what income goes on decedent's Form 1040 and what income goes on Form 1041 *Treatment of income and deductions in respect of a decedent*Factors to consider when choosing a business entity *Maximizing depreciation deductions *Dealing with the 3.8% tax -- how to minimize and avoid it *What to do if you think you are a "large employer" -- reducing or minimizing the employer penalty for not offering health insurance *Minimizing self-employment tax for S corporation shareholders and members in multiple-member limited liability companies *Anticipate business exit strategies that minimize tax when a business is sold *Taking advantages of the business favorable provisions of the PATH Act *Current and late breaking legislative and regulatory developments that could affect tax planning strategy*Employment at will -- what this means in a practical sense *Implied employment contracts *What a prospective employer can ask about, and test for, during employment interviews *Federal anti-discrimination rules applicable to hiring and firing *How to fire an employee and not get sued*Securing and collaborating*Analyzing and reporting with Tables and Data Models*Importing, linking, integrating, and manipulating data*Creating and auditing complex formulas*Analyzing data using advanced tools*Creating visualizations for communicating and analyzing data*Complete coverage of all the latest IRS rulings and procedures affecting individuals in general, along with an up-to-date summary of the most important tax court decisions and tax law changes *Retirement plans: what is new? *Trans-generational planning: conversions, income and gain-splitting *Identifying tax opportunities: reviewing the prior-year return to develop a plan for the future *Planning for middle-income taxpayers: financial planning for the young, the working, and those approaching or in retirement*Separately and nonseparately stated items *When to file Form 8082, Notice of Inconsistent Treatment or Administrative Adjustment Request *The impact of basis limits, the at-risk rules, and the passive activity loss rules on items allocated to the partner/member on his/her K-1 *Determining what kind of partner the taxpayer is for Part II reporting purposes *Determining the kind of liability(ies) the partner/member should report in Part II of the Schedule K-1 *How to calculate the partner's capital account *Box 14, Schedule K-1 -- what is the taxpayer's self-employment income? *California property taxation.*Update on proposed and potential tax law changes from the new presidential administration and Congress *Update on major enacted tax law changes, including the status of DOL overtime rule changes, the new partnership audit rules, the PATH Act, Social Security and more *Advanced practitioner issues *Health care reform: where are we and where may we be going?
*What goes in Line 11, Schedule K-1, "Other Income"? *Review of pertinent cases and rulings regarding exclusions, character issues, retirement plans, travel and other items affecting your individual taxpayers *Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more *Recent developments with business entities, including C corporations, S corporations, partnerships, and limited liability companies; proposed changes to family limited partnership valuations *The latest on depreciation and safe harbor expensing options, including the ,500 de minimis expense item *The latest issues related to passive activities, substantiation and any other late-breaking tax law changes*The current GAAS requirements related to fraud found in AU Section 240, Consideration of Fraud in a Financial Statement Audit *The current Yellow Book requirements related to fraud and abuse *Common conditions that indicate the financial statements may contain a material misstatement from fraud and fraud risk factors frequently observed in not-for-profit entities and governments *Recent frauds that occurred in not-for-profit entities involving: the theft of cash; falsified billings; improper use of credit cards; the redirection of cash and non-cash contributions; conversion of assets; the redirection of benefits; grant-related fraud; and travel and expense reporting fraud *Recent frauds that occurred in governments involving: falsified applications for benefits; payroll fraud; vendor fraud; kickbacks; workers' compensation and risk management frauds; purchase card abuse; providing government services for personal benefit; misappropriation of utility payments; and theft of assets *Tools for fraud prevention and detection* The purpose and applicability of the Yellow Book (a.k.a. *Graduate student loans: Federal, Stafford, Grad PLUS and private student loans. *The latest ideas dealing with the tax aspects of investments; dealing with all the issues of the passive activity rules *Identity theft: the latest issues and updates *Retirement planning strategies: qualified plans and IRAs, traditional and Roth; resolving issues of improper early or late distributions and rollovers *Practice aids, including inflation-adjusted amounts and some advance 2017 numbers, including mileage rates and more *Year-end tax planning ideas *Other late-breaking tax law changes, including post-election developments*We will cover the following major areas: - COFAR and FAQs - Effective date, applicability and transition issues - The new changes to thresholds, what changed, what remains - Illustrative diagrams of the financial management system - New emphasis on internal controls, terms and conditions and incorporate the results of Single audits into risk analysis - Changes to time reporting - List of the cost principles categorized as allowable and unallowable *New areas in the Uniform Guidance: - Conflict-of-interest - Disclosure of criminal conduct - Computing devices treated as supplies - Revised to 5 new methods of procurement: micro-purchases, small purchase procedures, sealed bids, competitive proposals and sole source - New section on sub-recipient monitoring - Internal controls - Period of performance - Fixed amount awards and sub-awards - 10% de minimus indirect rate - Extending existing negotiated indirect rates up to 4 years - The direct cost allocation principle - The direct charging of administrative personnel to awards - Unallowable costs plus interest refunded to agencies - How to handle negotiated indirect rates with unallowable costs - A new onerous certification*Core concepts involved in the single audit (e.g., understanding the relationship between the Single Audit Act and the Uniform Guidance for Federal Awards; important terminology used in single audits; key roles and responsibilities in the single audit process; and SAS No.
*SAARS Updates *Review of the Requirements to take steps to avoid Business Fraud through the use of internal controls and the Risk Assessment process overview.
*Professional Ethics Executive Committee Update*This program identifies strategic implementations regarding the relationship between intention, purpose and closure to the workday and their effect on transforming a workplace environment *Positive continuous improvement is increased when implementation of employee engagement techniques are in direct alignment with the organizations core values, mission and/or vision statement *This session is content rich, interactive and fun *Attendees will learn the strategies to assist them in creating an organization people want to work at and customers want to do business with*Find out about the requirements in challenging new standards on OPEB, tax abatement, investments pools, fiduciary activities, and other new GASB standards.
(Hear the perspective from a seasoned government finance official that is leading the charge to help governments successfully conquer these complex new standards!
) *Find out about implementation issues related to OMB's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
external, customer needs and wants, and guidance for serving customers well *Change management -- principles, Kotter's eight-step change model and adaptive change *Different personality traits and how they might react during times of change *Tips for getting employee buy-in for change *Performance management processes *Key elements of developing people *Setting performance goals, employee motivation and compensation *Project management processes, teams and guidance*High-level accounting standards update -- major changes effective this year and on the near horizon *High-level tax law update -- new and newly effective regulations and proposed changes *Roundup of other current and emerging challenges, risks and threats *Implications and responsive strategies*Recognize triggers that occur when you receive constructive feedback from others.
*Discover how new accounting and auditing standards will affect governments and your government practice, including common implementation issues, reporting issues, and best practices. *Get insights on developing effective controls for governments for the 21st Century.
*Hear guidance from experts on how to avoid common single audit deficiencies.
338 and 338(h)(10) elections*How to effectively review an error-prone, staff-prepared Form 1040 from client-provided information *Common errors and how to fix them *Areas generating malpractice claims *Importance of engagement letters, questionnaires and the Sec.
7216 permission statement *Initial administrative groundwork *How to identify tax return organization issues *Tips for avoiding "willful blindness" *Advanced review issues for income, adjustments, deductions and credits *How to document a review, including risk management considerations *Procedures for delinquent clients and filing past-due tax returns *First-time client issues that require extra scrutiny *Checklists and tips to identify potential Form 1040 return issues *Schedules for staff to prepare to make reviews easier, including Form 1040 basis issues *Impact of the Protecting Americans Against Tax Hikes (PATH) Act of 2015*Accounting Standards Update (ASU) No.
*Develop strategies for receiving feedback with grace and an eye for learning. *Build vulnerability and see that there is some truth every time feedback is delivered.*Audit objectives -- major steps in the audit process; goals; and performing analytical procedures and tests of controls, transactions and balances *Workpaper techniques -- critique cash workpapers, solve common new staff deficiencies, and learn the benefits of engagement management software *Analytical procedures -- purpose, techniques and detailed case study practice *Compilations and reviews -- levels of assurance and responsibility, guidance on procedures, and hands-on practice involving a closely held corporation *Audit and review accounts -- identify objectives; design and implement effective, efficient procedures to meet objectives; and participate in a case study for auditing receivables, payables and inventories*How to prepare various Form 1040 individual tax returns and schedules (with filled-in forms) *Tax filing status -- rules, planning opportunities and pitfalls *Dividends and interest -- ordinary, return of capital and capital gain distribution dividends; taxable and tax-exempt interest; original issue discount and more *Security transactions -- Form 1099-B, Form 8948, Schedule D, mutual fund sales and related basis issues *How the Affordable Care Act affects tax returns *Self-employment issues *Sale and exchange of property -- Form 4797, depreciation recapture and capital gains *Schedule C deductions *Passive losses -- rental property and how the passive loss rules flow to tax forms *In-depth look at itemized deductions -- what is and is not deductible *Interest deductions -- limitations and timing problems *Retirement contributions *Education credits and deductions *Child care credits and adoption tax credit *Tax computation -- kiddie tax, AMT, regular tax, credits and more *Impact of recent legislation and changes to Form 1040* An overview of the real estate industry in today's economy * GAAP compliance involving the purchase and development of real estate * GAAP compliance involving the operation of real estate * GAAP compliance involving various revenue recognition issues associated with real estate under today's Standards * An overview of the new FASB dealing with leases with an emphasis on its impact on the real estate industry * GAAP compliance involving various revenue recognition issues associated with real estate under the new Revenue Recognition Standards * GAAP issues involving recognition of impairment losses * Financial Statement preparation issues for real estate entities * Key issues involving a review of a real estate entity under today's SSARS * Key issues involving an audit of a real estate entity under today's GAAS * Computation of tax basis * Definition of Section 1231 property * Understanding the difference and recognizing gain under Sections 12 * Understanding the passive activity rules* Fundamentals of organization behavior -- Defining a problem, analyzing it, & planning action suited for resolving it; theories of motivation and job design; the six elements of organizational architecture * Decision making with statistics -- Gathering statistical information, interpretation, and methods of forecasting * Finance -- Risk and return; portfolio management theories; asset allocation; capital asset pricing models; financial management; all mathematics of tax leverage and tax planning; cash flow analysis * Marketing principles/concepts -- Consumer analysis, market segmentation, distribution channels, advertising/promotion, & economic break-even analysis; competitive strategies in changing markets * Capital budgeting & marginal investment analysis -- Tax-adjusted time-value analysis, IRRs, NPV, and other methods to allocate scarce resources among business investment opportunities * Production management -- Capacity, scheduling, and inventory control issues * Macroeconomic and micro-economic concepts, the impact of business cycles and the current business environment on business plans and profitability, and how to interpret vast amounts of data available to make business decisions*Federal and California statutory and regulatory standards governing tax preparers: Preparer penalty provisions, Circular 230 and; AICPA Statements on Standards for Tax Services.