Level 4: Staff Training in Taxation

"While many benefits present themselves to AGN members, far and away the most valuable benefit to Windham Brannon comes from our interaction with others. It’s not often that we obtain some special secret information, but routinely receive confirmation regarding matters we are dealing with. It’s helpful to know how other top firms in North America are managing challenges similar to ours."
Charles L. McGimsey, CPA, CFE, President/CEO
Windham Brannon, P.C., CPAs

Tax Staff Training					Info updated 1/25/12
Tax Level 1	Tax Level 2	Tax Level 3	Tax Level 4	Level 5	Level 6
Tax Training Home	Audit Training	EBP-Audits Training	Costs	Policies/Info	Staff Training Home

Level 4: Staff Training in Taxation — 11/11-14/12

Costs

Policies / Important Info

COURSE DETAILS

Duration
Three Days

Course Longevity
9 Years

Designed for
Accountants who want an update on current multistate tax issues to minimize clients' potential state and local tax liability

CPAs who are responsible for helping structure an LLC or partnership, and CPAs who prepare tax returns for these entities and for CPAs in public accounting and industry involved in business entity liquidations

CPAs who wish to have a complete understanding of the various uses of trusts

Experience
4+ years and Level 3 training

Delivery Method
Group-Live

CPE Credits
24 Hours - Three days (Lecture, case studies, and small and large group discussion)

Prerequisites
Staff Training in Taxation - Levels 1 and 2, or Staff Tax Training - Pass-through Entity Taxation and/or three years or more of public accounting experience preparing S Corporation, Partnership, and LLC tax returns.

Refund Policy
Refunds are determined on a case-by-case basis

Course Registration
Online at www.agn-na.org

Record Retention Policy
The AGN office retains all CPE records for a minimum
of five years

Complaint Resolution
Contact Rita Hood,
AGN-NA Executive Director
at 303-743-7880

Denver, CO	Registration Deadline: 9/28/2012
Registration: TBA	Attendees List
DAY 1 - MULTISTATE TAX UPDATE Designed for accountants who want an update on current multistate tax issues to minimize clients’ potential state and local tax liability.
You can't afford to ignore recent changes in state and local tax. Even tax-savvy businesses, and their advisers, often neglect to consider the consequences of state and local taxes. States are imposing new taxes, and their courts are enforcing nexus even when taxpayers are not physically present in a state. With this drastic increase in the importance of state and local taxation, it becomes more important than ever to attend this fast-paced update on recent multistate tax developments, focusing on issues confronting small and middle market companies and offering practical guidance for minimizing tax liability. Major Topics Nexus hot topics Economic nexus (taxation without physical presence) Attributional nexus Agency nexus Telecommuting employees Recent court rulings in state and United States Supreme Court Using P.L. 86-272 Focus on state apportionment issues - trending towards the single sales factor apportionment Combined Reporting is being mandataed by an increasing number of states Does this increase your filing requirements? Are there planning opportunities for the taxpayer? Sourcing receipts from intangibles and services Changes in state methods Planning opportunities Pass through entities Nexus issues Sourcing income Taxation at the entity level Withholding issues Nexus Questionnaires When and how to answer them Issues being targeted Using them to build your practice Sales Tax Updates Updates on audit related issues including disclosure for Fin 48 and FAS 5 Federal legislative updates Planning opportunities to minimize tax Opportunities to grow your practice
DAY 2 -MASTERING BASIS, DISTRIBUTIONS, AND LOSS LIMITATION ISSUES FOR S CORPORATIONS, LLCS, AND PARTNERSHIPS Designed for CPAs who prepare both individual and flow-through business entity tax returns and need a thorough grasp of these significant issues. This course is a must for practitioners to help reduce and avoid this exposure to malpractice.
OBJECTIVE The most difficult concepts to master when dealing with flow-through business entities are the basis and distribution concepts. Major error and malpractice issues occur if the CPA does not fully understand the impact of these rules. This course is designed to focus on the practical applications of these rules. Major Topics Applicable coverage of the tax acts of 2010 and any new legislation enacted before the presentation S Corporations: Beware of recent Final IRS Regulations regarding “Open Debt” of S Corporations Determine how to calculate basis. Worksheets are included. Understand the effect of stock basis and debt basis and IRS’s recent focus on ‘at-risk basis’ for shareholders Recognize how AAA applies or does not apply to certain S corporations Learn to apply the complex ordering rules and special elections that can have a big tax result Review K-1s and understand the practical issues of how to determine basis Discuss loss limitation rules in depth Become aware of when you can have a taxable dividend in an S corporation Understand distributions of cash and property and post-termination transition rules Learn how the passive loss rules can create other problems LLCs and Partnerships: Understand the significant differences that can occur in calculating basis for an LLC vs. a partnership Learn the detailed rules of §704 for preventing the shifting of tax consequences among partners or members. Determine how to calculate basis. Worksheets are included. Recognize how recourse, nonrecourse, and qualified nonrecourse debt can create significantly different tax results Learn the difference between basis and “at risk basis” and what it means Review §754 step-up in basis rules Discuss inside vs. outside basis and optional basis adjustments Learn to apply the complex rules of distribution of cash vs. property and the planning strategies Find out how “hot assets” can change the game for distributions Review K-1s and understand the practical issues of how to determine basis
DAY 3 - THE COMPLETE TRUST WORKSHOP! Designed for CPAs who wish to have a complete understanding of the various uses of trusts.
With major changes in the estate and gift tax, the role of trusts changes as well. The purpose of this course is to explore the many beneficial uses of trusts, an essential element in estate planning. This course gives insights and practical pointers concerning trusts of every shape and size after tax reform. OBJECTIVES Identify the areas of trust in connection with disability, charity, life insurance, leveraging gifts, principal residences, and minors Understand the role played by a marital deduction trust and a credit shelter bypass trust Explain how trusts may protect assets and perpetuate family wealth over multiple generations Major Topics Guide to legislative changes and their impact on trust planning Introduction to trusts with emphasis on typical provisions Revocable living trusts Common testamentary trust arrangements -- Bypass trusts, QTIP trusts, and other marital trusts Asset protection trusts Sophisticated trusts for estate planning and asset transfer -- GRATs, GRUTs, QPRTs, and IDGTs Charitable trusts -- Charitable remainder trusts, charitable lead trusts, and pooled income funds Irrevocable life insurance trusts Medicaid trusts: special needs and Miller Trusts for minors -- Sections 2503(b) and 2503(c), and other trusts Dynasty trusts Trusts to hold S corporation stock Impact of historically low APRs on various trust arrangements

NASBA

AGN International - North America, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org