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
- 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
- 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
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.
Looking for group pricing?
We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org
Contact usThe Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services. The Association is committed to making professional learning accessible to all. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. For accommodation requests, please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.
Log in to apply your member discount.