Tax Staff Essentials, 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.
Minimizing taxes for high-wealth clients
How new tax developments affect individuals
Using IRAs in strategic plans
S Corp current developments: tax planning impact
Use of qualified subchapter S subsidiaries (QSUB) and trusts (QSST)
Shareholder compensation planning
Types of Trusts and Trustee powers
Basic concept of estate planning
Advantages and disadvantages comparison of Business Entities
Business Acquisition basics
Asset versus stock based Transactions
In-depth look at Form 990 and all related schedules
Tax issues facing tax-exempt organizations
Positive communication skills for Leaders and Staff
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
Prerequisite: Tax Staff with 3-5 years of experience
Advance Preparation: None
This comprehensive, integrated curriculum provides tax training for four different experience levels and is available in four different formats: Online, On-site, Tax Schools and Webcasts.
For more info, visit the
Tax Staff Essentials website
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Multiple Participant Discounts:
Contact a representative by completing a brief or calling 800.634.6780 (option 1) for information on a discounted rate. Online Form
The On-demand offers immediate access to courses with discounts available for 3+ participants.
The On-site program may be purchased for 10+ participants with an AICPA instructor or as a guide for using your own subject matter expert. NOTE: If you wish to enroll Tax Section members in your group purchase, you must speak with a representative to ensure that section discounts are applied.