Tax Staff Essentials: Tax School – Level 3 (TSE.TSL3)

Course Description Schedule Course Outline

Course Overview

Advanced technical training
Tax School, Level 3 training identifies the more difficult areas for experienced tax compliance specialists. We will focus on understanding business strategies, analyzing your client's competitive position, and converting this knowledge into tax planning and business advice. Increasing exposure into specialized tax niches will position your work force to capitalize on emerging cross-selling opportunities. Key subject matters covered include ASC740 and deferred income taxes, estates and trusts, tax exempt organizations, real estate transactions, and advanced S Corporation concepts. This level will give Staff, Seniors and Supervisors the confidence necessary to begin assuming client and engagement management responsibilities.

Instructional delivery method: Live
Recommended CPE credit: 40
Recommended field of study: Tax
Prerequisites: None
Program level: Intermediate
Advance preparation: None

Who should attend

  • Tax Senior/Supervisor
  • Tax Staff with 3-5 years of experience

Course Objectives

This course will prepare you to:

  • Implement strategies for high-wealth clients, those approaching retirement, homeowners, parents of college-bound children, employees, self-employed individuals, and seniors
  • Respond to tax-law and economic developments with up-to-date strategies that save taxes for individual clients
  • Render appropriate federal income tax advice to clients who are separated, divorcing, or already divorced
  • Identify circumstances that warrant converting from S to C corporation and gain a basic understanding of how to make the conversion
  • Interpret tax issues related to the formation of a corporation
  • Understand the complex rules of basis and distributions
  • Apply the rules related to acquisitions and liquidations of S corporations
  • Explain the uses of trusts as S corporation shareholders.
  • Understand the concept of a trust and the various types of trusts
  • Advise clients on filing requirements for Forms 706 and 709
  • Identify the elements of an estate and grantor trusts
  • Understand the basic steps in a business acquisition
  • Analyze the three principle approaches to valuation of a business
  • Structure compensation alternatives for individual buyers and sellers
  • Prepare and use Forms 990, 990-EZ, and related schedules
  • Understand which organizations must file returns and which are exempt

Outline: Tax Staff Essentials: Tax School – Level 3 (TSE.TSL3)

Level 3 Learning Agenda

  • Individual Tax Planning
    • CPE hours: 8
  • Form 990
    • CPE hours: 8
  • Advanced Taxation of LLCs & Partnerships
    • CPE hours: 8
  • Advanced Tax Planning S Corporations
    • CPE hours: 8
  • Income Tax Accounting
    • CPE hours: 4
  • IRS Audits
    • CPE hours: 4
Classroom Training
Modality: C

Duration 5 days

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Online Training
Modality: L
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