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Taxes
Form 4797 – Hands On: Emphasizing Sales of Business & Rental Real Estate
Alice Orzechowski, CPA, CMA, EAWebcast
Credits: 2 $98.00$98.00
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Regulatory Ethics
Accountant Ethics for Colorado
Steven M. Bragg, CPAQAS Self-Study
Credits: 4 $116.00$116.00 – $136.00
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Auditing
Unraveling Fraud Risks in Financial Statements
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 1 $29.00$29.00 – $49.00
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Regulatory Ethics
Ethics for Florida CPAs
Delta CPE LLCQAS Self-Study
Credits: 4 $116.00$116.00 – $136.00
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Regulatory Ethics
Accountant Ethics for Kentucky
Steven M. Bragg, CPAQAS Self-Study
Credits: 4 $116.00$116.00 – $136.00
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Auditing
Types of Financial Statement Fraud: Key Schemes and How They Are Carried Out
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 4 $116.00$116.00 – $136.00
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Regulatory Ethics
Accountant Ethics for Arizona
Steven M. Bragg, CPAQAS Self-Study
Credits: 4 $116.00$116.00 – $136.00
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Regulatory Ethics
Accountant Ethics for Michigan
Steven M. Bragg, CPAQAS Self-Study
Credits: 4 $116.00$116.00 – $136.00
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Regulatory Ethics
Accountant Ethics for Indiana
Steven M. Bragg, CPAQAS Self-Study
Credits: 4 $116.00$116.00 – $136.00
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Regulatory Ethics
Accountant Ethics for North Carolina
Steven M. Bragg, CPAQAS Self-Study
Credits: 4 $116.00$116.00 – $136.00
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Taxes
ACTUALIZACIÓN FISCAL FEDERAL 2024 – INDIVIDUAL
Sharon Kreider, CPAQAS Self-Study
Credits: 3 $87.00$87.00 – $107.00
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Auditing
Internal Control and Corporate Fraud- A Practical Guide
Delta CPE LLCQAS Self-Study
Credits: 9 $261.00$261.00 – $291.00
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Accounting
Top Accounting, Financial Reporting, Operational, and Other Challenges for Nonprofits
Jennifer F. Louis, CPAWebcast
Credits: 2 $98.00$98.00
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Taxes
Real Estate Tax Guide
Steven M. Bragg, CPAQAS Self-Study
Credits: 2 $58.00$58.00 – $78.00
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Accounting
Revenue Recognition in an Environment of Uncertainty
Jennifer F. Louis, CPAWebcast
Credits: 2 $98.00$98.00
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Regulatory Ethics
Dealing with Conflicts of Interest
Steven M. Bragg, CPAQAS Self-Study
Credits: 1 $29.00$29.00 – $49.00
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Business Management & Organization
Management Handbook
Delta CPE LLCQAS Self-Study
Credits: 8 $232.00$232.00 – $262.00
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Auditing
Identifying Audit Risks – Internal Controls and Audit Evidence
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 1 $29.00$29.00 – $49.00
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Accounting
Revenue Recognition – Top Challenges in Applying ASC 606
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 8 $232.00$232.00 – $262.00
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Accounting
The Impact of Litigation on Financial Statements
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 1 $29.00$29.00 – $49.00
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Taxes
A Guide to Tax Resolution: Solving IRS Problems
Delta CPE LLCQAS Self-Study
Credits: 7 $203.00$203.00 – $233.00
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Personal Development
Making Rain – Improving Success with Retaining Clients and Attracting Prospects
Jennifer F. Louis, CPAWebcast
Credits: 2 $98.00$98.00
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Auditing
Identifying Audit Risks – Compliance and Going-Concern Issues
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 1 $29.00$29.00 – $49.00
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Accounting
Managing Legal Risks: The Intersection of Legal and Financial Reporting
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 1 $29.00$29.00 – $49.00
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Information Technology
Protecting Financial Data: A Cybersecurity Overview
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 1 $29.00$29.00 – $49.00
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Auditing
Identifying Audit Risks – Financial Reporting and Revenue Recognition
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 1 $49.00$49.00 – $79.00
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Accounting
Breaking Down Key U.S. GAAP Standards and SEC Filing Requirements
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 24 $480.00$480.00 – $520.00
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Auditing
Detecting Financial Statement Fraud: Revenue, Earnings, and Expense Manipulation
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 2 $58.00$58.00 – $78.00
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Auditing
Identifying Audit Risks – Behavioral and Management Cues
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 1 $29.00$29.00 – $49.00
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Auditing
Detecting Financial Statement Fraud: Asset, Equity, and Reporting Mismanagement
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 2 $58.00$58.00 – $78.00
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Taxes
Bankruptcy Tax Issues
Danny Santucci, JDQAS Self-Study
Credits: 2 $58.00$58.00 – $78.00
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Taxes
Asset Protection
Danny Santucci, JDQAS Self-Study
Credits: 2 $58.00$58.00 – $78.00
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Taxes
Selected Business Expenses
Danny Santucci, JDQAS Self-Study
Credits: 2 $58.00$58.00 – $78.00
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Accounting
Nonprofit Accounting and Financial Reporting Explained
Jennifer F. Louis, CPAWebcast
Credits: 8 $392.00$392.00
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Accounting
2025 Virginia-Approved Yellow Book Ethics
Jennifer F. Louis, CPAWebcast
Credits: 2 $98.00$98.00
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Regulatory Ethics
2025 Virginia-Approved General Business Ethics
Jennifer F. Louis, CPAWebcast
Credits: 2 $98.00$98.00
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Regulatory Ethics
2025 Virginia-Approved Professional Ethical Considerations for CPAs
Jennifer F. Louis, CPAWebcast
Credits: 2 $98.00$98.00
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Communications & Marketing
Effective Business Communications
Delta CPE LLCQAS Self-Study
Credits: 13 $351.00$351.00 – $391.00
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Taxes
10 Key Rules for Mastering the SEPP/72(t) Exception to the 10% Early Distribution Penalty for IRAs and Employer Plans
Denise Appleby, MJ, CISP, CRC, CRPS, CRSP, APAWebcast
Credits: 1 $49.00$49.00
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Auditing
Audit Red Flags: Navigating Financial, Behavioral, and Control Risks in Auditing
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 4 $116.00$116.00 – $136.00
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Accounting
Blockchain and Crypto Assets in Accounting: From Basics to Reporting
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 2 $58.00$58.00 – $78.00
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Accounting
2024 A&A Update: Highlights of the Latest Accounting and Auditing Issues
Jennifer F. Louis, CPAWebcast
Credits: 8 $392.00$392.00
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Accounting
ASC 606 Insights: Timing of Revenue Recognition & Principal vs. Agent Considerations
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 2 $58.00$58.00 – $78.00
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Accounting
ASC 606 Insights: Licensing Revenue and Financial Statement Disclosures
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 2 $58.00$58.00 – $78.00
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Auditing
Audit Fraud Detection: Red Flags and Risk Areas in Financial Reporting
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 8 $232.00$232.00 – $262.00
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Accounting
The Impact of Environmental, Social, and Governance (ESG) – Related Matters on Financial Statements and Audits
Jennifer F. Louis, CPAWebcast
Credits: 2 $98.00$98.00
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Accounting
ASC 606 Insights: Managing Variable Consideration and Modifications
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 2 $58.00$58.00 – $78.00
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Accounting
ASC 606 Insights: Contract Identification and Performance Obligations
Kelen Camehl, CPA, MBAQAS Self-Study
Credits: 2 $58.00$58.00 – $78.00
The President Signed the Covid-19 Relief Bill & 2nd Round of Stimulus Checks Coming
Article at a Glance: President Trump has now signed the new Consolidated Appropriations Act, 2021 into law. The new law includes a second round of recovery stimulus payments for individuals. Individuals and children (under age 17) are entitled to a $600 rebate if income is below a threshold amount. The phaseout thresholds are the same as those in the CARES Act for the first round of payments. The income thresholds are based on the AGI shown on the 2019 tax return. The recovery rebate payments should start to come about mid-January. This second round of recovery rebates will be …
Six Key Tax Provisions in the very long Stimulus Bill released by Congress
Article at a Glance: Congress leadership recently released the 5,593-page Consolidated Appropriations Act, 2021. The bill proposes a $2.3 trillion spending bill that combines $900 billion in stimulus relief for the COVID-19 pandemic in the United States with a $1.4 trillion omnibus spending bill for the 2021 federal fiscal year. The bill included a proposed second round of recovery check for $600 for each adult tax filer and each child. The bill places no limits on any business’s ability to deduct expenses associated with forgiven PPP loans. Congress is now set to allow businesses to deduct 100% of the …
URGENT News for Your Client with a PPP Loan
Article at a Glance: The CARES Act spelled out that PPP Loan forgiveness was not taxable cancellation of debt income. Where does that leave expenses paid with the PPP Loan proceeds? According to IRS Notice in Section 265, business expenses paid with tax-free money shouldn’t be deductible. The Emergency Coronavirus Relief Act of 2020 provides deductions of eligible business expenses paid with the PPP loan. This change is (maybe an efficient) way to give PPP loan borrowers another bit of Coronavirus stimulus through tax savings. The CARES Act specifically said that the forgiveness of the PPP Loan was not …
Proposition 19 Impacts Property Tax Transfers
Article at a Glance: Proposition 19 adds new provisions for a base year value transfer of a primary residence for persons meeting several criteria. The new law changes provisions of the parent-child and grandparent-child exclusions. The new provisions are subject to “applicable procedures and definitions as provided by statute”. We anticipate that the California Legislature will clarify these procedures and definitions through future legislation. The base year value transfer provisions become operative on April 1, 2021. The parent-child and grandparent-grandchild exclusion provisions become operative on February 16, 2021. On November 3, 2020, California voters approved Proposition 19. The new law …
New CARES Act Guidance Targets SBA Payments
Article at a Glance: SBA Payments of Principal, Interest, and Associated Fees on 7(a) Loans are Taxable to the Small Business Lender servicing the loan is required to issue a Form 1099-MISC on the SBA payments The notice provides what following amounts are to be reported as income on Form 1099-MISC The notice outlines who should be shown as the payor and recipient on Form 1099-MISC Consider warning your clients with 7(a) loans before they get an unexpected Form 1099-MISC from their bank In April 2020, SBA began making payments under Section 1112 of the CARES Act to cover, …
Client Letter | 2020 Year-End Tax Planning
Article Note: Our guest author, Tracy Lasecke at Silicon Valley Wealth Advisors in San Jose, CA, has provided us with a year-end tax planning letter for you to use (or modify) to accommodate your clients December 2020 Dear Client – Welcome to Fall and the changing colors of autumn leaves. This tax letter will bring light tax planning challenges and opportunities brought about by the CARES Act (2019) and SECURE Act (2020). Uncertain economic times provide opportunities in tax planning. We hope that you and your family are safe and looking forward to the holidays that follow. This letter …
Key Business Valuation Issues Addressed by Tax Court Ruling
Article at a Glance: Ramifications of the estate of Aaron U. Jones Estate Case impact valuations $89 Million dispute leads to the IRS demanding $45 Million in taxes Three approaches IRS revenue ruling 59-60 suggests the valuator use: income, market, and asset. Prudent Valuators have the most recent income forecast to reflect market reality The marketability discount (DLOM) can impact valuations and adequate documentation matters Practical approach backed by current data eclipses the IRS’s theoretical approach Ramifications: Aaron U. Jones Case Business valuation rules and norms frequently evolve as a consequence of IRS and Tax Court rulings. Every few …
Coronavirus-Related Distributions Still Available
Article at a Glance: Coronavirus-related Distributions Still Available Withdrawals can be paid back to the plan within 3 yrs. and aren’t subject to the 10% penalty for early distribution – special treatment only available for $100,000 or less The person affected by COVID-19 could be the taxpayer, spouse, or someone that resides with them Withdrawing money from a retirement plan at a younger age can severely affect long-term retirement funds The CARES Act allowed individuals affected by COVID-19 to withdraw amounts from their retirement plans at any time during 2020. It even permitted amounts taken before enactment to be …
IRS Revises RMD Tables for 2022
Article at a Glance: IRS Revises RMD Tables for 2022 What happens if someone uses the 2002 tables for 2021 distributions? The answer is nothing What happens if someone uses the new final regulations effective for 2022 in 2021? This could be a problem Potential penalties on missed RMDs are lurking for many a careless senior SECURE Act expansion proposal would reduce the 50% penalty on missed RMDs The IRS has many guidance projects pending due to CARES and SECURE. Let’s hope we get answers before Christmas. Some may have been surprised that IRS just finalized regulations that revise …
Deadline Approaching on California Small Business Hiring Credit
Article at a Glance: California enacts a Small Business Hiring Tax Credit for 2020 only Qualifying businesses must reserve the credit through the California Department of Tax and Fee Administration (CDTFA) Credit reservations begin December 1, 2020 and run through January 15, 2021 On September 9, 2020, California’s governor signed Senate Bill 1447 (Bradford, Stats. 2020, Ch.41) establishing the Small Business Hiring Tax Credit, sometimes referred to as the “Main Street Hiring Credit.” This bill provides financial relief to qualified small businesses for the economic disruptions in 2020 that have resulted in unprecedented job losses. Taxpayers can use the …
IRS Approves SALT Workaround for Pass-Through Entity
Article at a Glance: IRS Approves SALT Workaround for Pass-Through Entity (Notice 2020-75; IR-2020-252) Before TCJA, individual taxpayers normally could deduct all state and local taxes (SALT) as itemized deductions. TCJA limited the individual SALT deduction to $10,000 for taxable years 2018 through 2025. Some states have been looking for a workaround to enable their resident taxpayers to avoid the $10,000 deduction limit. The IRS has approved the availability and functionality of this workaround in Notice 2020-75. Watch for legislation in your own state authorizing a PTE election for state taxes to be paid on behalf of the owner …
IRS Says “NO” to a Year-End PPP Loan Forgiveness Strategy
Article at a Glance: IRS Kills Hopes for a Year-End PPP Loan Forgiveness Strategy The IRS in Notice 2020-32, quoting IRC §265(a)(1), announced that if the forgiveness is not taxable income, then the eligible expenses leading to the forgiveness are not A timing question arises, if we accept that the expenses are not deductible to the extent they qualified the borrower for PPP Loan forgiveness. A legislative change is required to overcome the IRS’s position that qualified expenses are designated non-deductible. Year-end tax planning should assume that the eligible expenses that resulted in PPP Loan forgiveness are not deductible. …
Partner’s Capital Account must Be Reported on the Tax Basis Method for 2020
Article at a Glance: Partnerships filing Form 1065 for the tax year 2020 must calculate partner capital accounts using the transactional approach for the tax-basis method According to IRS data, most partnerships already use the tax-basis method even though multiple ways were permitted Tax basis method not previously used then the partnership may re-figure a partner’s beginning capital account using the tax basis method To promote compliance with the tax-basis method, the IRS intends to grant penalty relief for the transition to the new rules in 2020 Whether you prepare partnership and LLC returns and their accompanying K-1s or …
Good News for PPP Loan Forgiveness
Article at a Glance: SBA and Treasury stepped up and issued new forgiveness rules for small PPP loans In a new interim final rule issued 8, 2020, the SBA and Treasury announced a simplified application for the forgiveness of PPP loans of $50,000 or less SBA Form 3508S : The simplified application is a page and a half FTE (Full-Time Equivalent) and wage reduction limits removed for small loans There are approximately 3.57 million outstanding PPP loans of $50,000 or less Even though the forgiveness application is simplified, documentation of payroll and non-payroll costs must still be submitted to …
Proposed Regs Clarify Excess Deductions
Article at a Glance: Proposed Regs Clarify Treatment of “Excess Deductions” at the Termination of an Estate or Non-Grantor Trust Conflicting instructions abounded for 2018 Forms 1041 K1 and 1040 Schedule A. Practitioners report even software vendors were muddying the waters IRS response to the conflict between instructions, “We’re working on it” Proposed Regulations Clarify Two Items: Administration expenses and Excess deductions The proposed regulations are very favorable, so some of your client’s returns can and should be amended Section 642(h) allows beneficiaries succeeding to an estate or trust property to deduct the carryover or excess if, upon termination, …
Guest Post: Are You Ready for Reference Rate Reform?
Article at a Glance: FASB released a new Accounting Standards Update No. 2020-04, giving guidance in accounting for reference rate reform If LIBOR is going away, how does this impact my organization? The ASU release is not a permanent fix, though it is only effective from its March release date prospectively through December 31, 2022 The ASU also provides specific relief for hedging relationships The relief provided by the FASB may not seem like much, for some organizations, these expedients could prove to be a needed lifeline In March 2020, the FASB released a new Accounting Standards Update (ASU) …
Guest Post: Disclosure Requirements for Not-for-Profit Entities
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Article at a Glance:FASBA issues new accounting standard for Not-for-Profit entities that addresses contributionsThere was no specific guidance tied to contributions of non-financial assets before FASBA issued the new standardUpdate requires that non-financial asset contributions be listed as a separate line item in the statement of operationsThe new requirements will be effective for annual fiscal periods beginning after June 15, 2021The complete update details can be found at the FASB website in “Accounting Standards Update 2020-07”In case you haven’t heard, the FASB issued a new accounting standard for Not-for-Profit entities that addresses the accounting for the receipt of contributions of …
Guest Post: A Friendlier FASB for Smaller Private Companies?
Article at a Glance: Accountants’ common complaint is an overload of standards Amid the COVID environment, FASB moves to provide relief to smaller private companies Extensions were approved for private companies to reduce the gap between public and private reporting Revenue Recognition, Lease Accounting and Accounting for Credit Losses: A one-year extension was approved to continue using “old standards” CPAs can concentrate on survival and leave the challenges of the new standards to next year Private Companies Struggling with an Overload of Standards When we offer our Accounting Update courses, the most common complaint from those working with closely …
Guest Post: IRS Updates Employment Deferral FAQs
Article at a Glance: IRS updates deferral FAQs for employers and the self-employed. What deposits and payments of employment taxes are employers entitled to defer? How does an employer defer the employer’s share of Social Security tax? What is the period for which employers can defer deposit and payment of the employer’s Social Security tax share? Are self-employed individuals eligible to defer payment of self-employment tax imposed on net earnings from self-employment income? Will the IRS issue reminder notices to taxpayers reflecting the total amount of deferred taxes and the payment due dates? In case you hadn’t heard, the …
SBA Answers Three More Questions on PPP Loan Forgiveness
Article at a Glance: SBA and Treasury continue to address questions at their plodding pace Many banks continue to kick the can down the road while they wait for potential changes from the SBA Owner-employees with less than a 5% stake in a C or S Corp aren’t subject to the owner-employee compensation rule The household expenses of a home-based business are not eligible for forgiveness Rent payments to a related party are eligible for loan forgiveness but much depends on the Covered Period If it seems like there is a constant stream of information coming from the SBA …