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.
Format
Online
NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
57
Availability
2 years
Product Number
157726
Help your junior tax staff establish a supervisory role within the firm.
This Level 2 series will help junior and senior staff establish a strong set of skills necessary to grow their abilities, work with greater independence and expand their role in your firm. Level 2 will broaden their tax knowledge in the areas of:
- Multistate taxation
- C Corporations
- Accounting methods and periods
- Choice of entity.
Key subject matters covered include Inventory Valuation and Property Transactions which will be essential for servicing more complex clients.
Courses Included:
- Tax Research II
- Multistate Taxation
- Tax Accounting for Inventories
- Taxation of Property Transactions
- Intermediate Individual Taxation
- Taxation of Corporations
- Accounting Methods and Periods
- Choice of & Formation of Entity
Note: These courses have been updated for the 2017 Tax Cuts and Jobs Act (TCJA) ("Tax Reform"). You'll have free access to a Course Supplement that provides an explanation of the key provisions of the TCJA (including topics not covered in your course).
Tax Staff Essentials is a comprehensive, integrated curriculum that provides tax training for four different experience levels and is available in four different formats: Online, On-site, Tax Schools and Webcasts.
- New individual income tax rates
- New corporate tax rates
- New 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, 1250
- LLC formation and Check-the-Box rules
- Partnership and LLC profit and loss allocations
- Multistate Income apportionment and allocation
- Nexus, UDITPA, MTC
- Section 263A, Inventory methods
- Choosing an Accounting Method
- Accounting Method changes
- Identify the benefits of forming a corporation
- Understand reasonable compensation issues with respect to a Closely Held Business
- Analyze the best retirement plan recommendation for a corporation
- Describe 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
- Explain the deferral of realized gain or loss on a like-kind property exchange
- Recognize the potential impact of depreciation recapture
- Explain 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
- Understand and apply the basic rules for a change in accounting method
- Prepare the Federal Form 3115 - Application for Change in Accounting Method and understand how and when this form should be filed by the taxpayer
- Understand the key principles of multistate taxation
- Distinguish differences between apportionment and allocation of income
- Develop basic approaches to state income tax planning with emphasis on the latest developments in economic nexus
Group ordering for your team
2 to 5 registrants
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Start order6+ registrants
We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org
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