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Tax Staff Essentials, Level 2 - Experienced Staff
Tax
CPE Self-study

Tax Staff Essentials, Level 2 - Experienced Staff

Level 2 is designed for junior tax staff who want to take on a wider variety of firm engagements and establish a supervisory role within the firm. This level will broaden your tax knowledge in the areas of multistate taxation, C Corporations, accounting methods and periods, choice of entity and much more.

$515 - $705
Do you have an AICPA membership? Log in to apply your member discount.

Format

Online

NASBA Field of Study

Taxes

Level

Intermediate

CPE Credits

62.5

Availability

2 years

Product Number

TSELevel221SSO

 Business & partner 
Product Details

Help your junior staff establish a supervisory role within the firm.

Junior and senior staff can establish a strong set of skills in order to work with greater independence and expand their role in your firm. Level 2 will broaden their tax knowledge in the areas of the following:

  • Multistate taxation
  • C corporations
  • Accounting methods and periods
  • Choice of entity

Key subject matters covered include inventory valuation and property transactions, which are essential for servicing more complex clients.

Courses Included

Who Will Benefit

  • Experienced staff members

Key Topics

  • Individual income tax rates
  • Corporate tax rates
  • Pass-through income rules
  • The qualified business income (QBI) deduction
  • New rules for certain credits and deductions
  • C corporation formation and Section 1244 stock
  • Corporate net operating losses
  • Salaries, employee benefits, and retirement plans
  • Taxation of property transactions under IRC Sections 1231, 1245, and 1250
  • LLC formation and check-the-box rules
  • Partnership and LLC profit and loss allocations
  • Multistate income apportionment and allocation
  • Nexus, UDITPA, and the MTC
  • Section 263A, inventory methods
  • Choosing an accounting method
  • Accounting method changes

Learning Outcomes

  • Identify the benefits of forming a corporation.
  • Recognize reasonable compensation issues with respect to a closely held business.
  • Analyze the best retirement plan recommendation for a corporation.
  • Identify how partnerships and LLCs opting to be treated as partnerships will report their federal taxable income to the IRS.
  • Determine the tax basis of assets transferred to a partnership or LLC at formation.
  • Recognize how to explain the deferral of realized gain or loss on a like-kind property exchange.
  • Recognize the potential impact of depreciation recapture.
  • Recognize the allowable inventory valuation methods for tax purposes and how to choose the most beneficial in various scenarios.
  • Estimate the tax value of ending inventory under the chosen method.
  • Identify and apply the basic rules for a change in accounting method.
  • Distinguish how to prepare federal Form 3115, Application for Change in Accounting Method, and understand how and when this form should be filed by the taxpayer.
  • Recognize the key principles of multistate taxation.
  • Distinguish differences between apportionment and allocation of income.
  • Identify how to develop basic approaches to state income tax planning with emphasis on the latest developments in economic nexus.
Credit Info
CPE Credits
Online
62.5
NASBA Field of Study
Taxes
Level
Intermediate
Prerequisites
Tax Staff with 1-3 years of experience
Access
Online
This is a digital product. With full paid access the content will be available to you for 2 years after purchase date.
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
Online
$705.00
AICPA Members
Online
$565.00
Tax Section Members
Online
$515.00

Group ordering for your team

2 to 5 registrants

Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.

Start order

6+ registrants

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

Contact us
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Tax Staff Essentials, Level 2 - Experienced Staff
Select from the following options:
Online
$705.00
Nonmember Price
$705.00
Price excluding sales tax
$705.00
Do you have an AICPA membership? 
Log in to apply your member discount.
Shipping cost and sales tax will be added later during checkout

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