IRS Processes and Procedures – Pitfalls Part 1

New Class – As we deal with our everyday complexities we come across issues where the IRS processes and procedures were unclear or confusing. This class will define everyday problems and provide solutions. Ex; Pitfalls – Head of Household, Superseded Returns Substitute for Returns, the nonfiler, responding to notices and more will be covered in […]

Cancellation of Debt

Financial hardships cause taxpayers to lose properties in foreclosure, file bankruptcy, or restructure debt in some fashion. We’re seeing a lot of Forms 1099-A, Acquisition or Abandonment of Secured Property, and 1099-C, Cancellation of Debt, included in our client’s year-end tax info. We need to understand if our client has taxable income as a result […]

Tax Basis of Assets

Baffled by basis? Understanding basis is the most fundamental of all tax skills! We’ll cover cost basis, adjustments to basis, basis of inherited property, basis of gifted property, the tax impact of involuntary conversion, as well as both taxable and nontaxable exchanges. This is your go-to class to nail basis down, once and for all.

Sale of Business Assets

Selling assets can be a tricky proposition on the tax return. This webinar will cover the differences between property §1231, §1245 or §1250 property, when income is recognized vs realized, how to handle mixed-use property, partial dispositions and how to fill out Form 4797.

Virtual Currency Updates

This webinar will discuss the upheaval we’ve experienced in the Cryptoverse and how this upheaval has affected the crypto client’s tax return. We’ll cover how to report losses from occurrences such as theft, rug pulls, and pump-and-dump schemes.

Taxation of Prizes and Awards

Gifts are not taxable to the recipient, but prizes, awards, sweepstakes, raffles, lottery winnings are definitely taxable income to the recipient. So did your client receive a gift, a prize, or an award? What about employee achievement awards? Make sure you know the difference between what’s taxable to your client and what isn’t!

Ethics Part 3

Circular 230 and common everyday issues Practitioners address daily. Due Diligence – lack of supporting documents, clients lack of recordkeeping, those summary sheets – when to ask more questions and advocating for our client.

Ethics Part 4

Join us as we review Circular 203 Sub Part D Disciplinary Proceedings

Quarterly Tax Update 2023: Part 3

Circular 230 and common everyday issues Practitioners address daily. Due Diligence – lack of supporting documents, clients lack of recordkeeping, those summary sheets – when to ask more questions and advocating for our client.