CPE Catalog & Events

Comprehensive Update: FASB, AICPA (SAS, SQMS, SSARS & Ethics) 25-26

ASU effective in 2024 and beyond Recent SAS Selected ethics interpretations

Living Trust Administration Workshop 25-26

The steps in Trust Administration Delaware Tax Trap -its unique use Change of the exemption in 2026 and its impact Whether to file a 706 for portability election and/or Q-Tipping the Credit Trust Preparation of trust accountings Trust administration of Medi-Cal Trusts, QPRT, GRAT and IDGTs

2025 Annual Update for Accountants & Auditors

The major topics that will be covered in this course include:Technology Hot Topics for Audits.Accounting Standard UpdatesProjects identified by the FASB's Invitation to Comment: Agenda Consultation.Year 2 considerations for leases including modification accounting.The impact of the changes to auditing group auditsThe status of the AICPA's quality management project management.The current work of the ASB. 

Surgent's Partnership and LLC Core Tax Issues From Formation Through Liquidation

Reporting requirements for Schedules K-2 and K-3 Capital account reporting requirements Schedule K-1 reporting for §743 adjustments Schedule K-1 reporting for §704 gains and losses Comprehensive case on partnership/partner application of the business interest deduction Section 704(b) basis versus tax basis for capital accounts Detailed rules of §704 for preventing the shifting of tax consequences among partners or members Unreasonable uses of the traditional and curative allocation methods Layers of §704(c) allocations Treatment of recourse versus nonrecourse debt basis How to calculate basis limitations and the implications on each partner’s own tax return How §179 limitations affect partnership/LLC basis Regulations for handling basis step-ups under §754 elections and mandatory adjustments under §743 and §734 for partnerships that have not made a §754 election Subsequent contributions of property with §754 adjusted basis to another partnership or corporation Capital account adjustments in connection with admission of new members Special allocations and substantial economic effect LLCs and self-employment tax to members Distributions – current or liquidating, cash or property, and the substituted basis rule Termination and liquidation of an LLC

Microsoft 365 Application Lightning Round Review-Updated

The major topics covered in this course include:Lightning round review of the following apps, with an explanation and demonstration of what each of them offersTeams - the foundation of all that you do in Microsoft 365SharePoint / OneDrive - secure cloud storagePower BI - the new financial reporting modelStream - the YouTube for your organizationBookings - streamline your appointment scheduling OneNote - get your content organized for quick retrieval Lists - create custom list tracking reportsTo Do - consolidate all your Outlook, Planner and general "to do's" in one appPlanner - manage simple and complex engagements and projects in an intuitive appA quick look at many of the remaining apps

S Corporations: Calculating Shareholder Basis

The major topics that will be covered in this course include:Discuss the calculation of basis when the entity is formed including the impact of contributed propertyExplain the importance of shareholder loans to the entityUses a comprehensive example to illustrate the mechanics of the basis determination processSchedule K-1 Basis and Form 7203Discuss how basis is impacted by distributions of corporation propertyExplain how basis is impacted by sale/or liquidation of the S corporation interestDiscuss how S corporation losses impact Form 1040 Schedule E reportingShow how to get from the Schedule K-1 information to the basis calculations

Surgent's Marijuana: A Generalized Business Viewpoint

An overview of current state and federal laws governing marijuana A review of state boards of accountancy regarding marijuana How some financial professionals are capitalizing on the marijuana industry Providing auditing and tax services within the marijuana industry How accountants and other financial professionals can manage risk within this industry IRC Section 280E’s prohibition of deductions involving controlled substances A summary of various state taxation laws on marijuana Ethical issues for accountants who work in the marijuana industry Relevant banking regulations Growth projections

Surgent's Reducing a Business Owner Client's Exposure to Social Security and Self-Employment Taxes

Section 1402(a)(1) exclusions from the definition of self-employment income Application of the SE tax to members of limited liability companies Taking a self-employed owner's health insurance deductions against self-employment tax How using the S corporation and the MMLLC treated as a partnership can help reduce an individual's exposure to self-employment tax How hiring a spouse and/or child helps reduce self-employment tax Differentiating between income treated as self- employment income and income that is not self-employment income

Surgent's Schedules K-2 and K-3: Filing Requirements

Detailed discussion of the domestic filing exception  Filing requirements and exceptions for every part of Schedules K-2 and K-3 Examples based on common client situations encountered in practice

Surgent's Understanding S Corporation Taxation: Compensation Issues and Entity-Level Taxes

Reasonable compensation Fringe benefits for S corporation shareholders Built-in gains tax Excess passive income tax Notice 2020-75: PTE elections

Surgent's Avoiding Deficiencies in Peer Reviews: Focus on Engagement Quality

AICPA’s Enhancing Audit Quality initiative Recent revisions to Quality Management standards Feedback from peer reviews, including areas driving deficiencies in audit Elements of an effective risk assessment and how to link to audit procedures performed Understanding internal controls and making the decision whether or not to test them Best practices in documentation

Grading Your Auditors - Are You Getting the Most Value?

The major topics that will be covered in this class include:Limitations in roles and responsibilities an auditor can accept without impairing independenceAssessing the strength of your auditor's ability to think critically, strategically, and creatively in appropriate circumstancesEvaluating your auditor's time and project management stillsGrading your auditor's communication and interpersonal skills, in exceeding your expectations on an audit

AI Prompt Engineering Masterclass for Accountants

The major topics that will be covered in this course include:Introduction to Prompt Engineering: Basics of structuring effective prompts for meaningful AI responses.Understanding AI's "Lazy" Defaults: Why LLMs provide basic answers and how to push them to deliver richer insights.Multi-Layered Prompting: Techniques to encourage AI to provide responses across beginner to expert levels.Candid and Contrarian Responses: Using prompts that elicit honest and balanced insights, even on controversial topics.Ripple Effect and Cobra Effect: Probing the broader impacts and unintended consequences of financial decisions.Avoid Stupidity Checklist: A practical prompt for reducing mistakes in AI-assisted accounting tasks.Role-Based Perspective Prompts: Crafting prompts that guide AI to respond from specific professional viewpoints.Automation Ideas: Leveraging AI to optimize repetitive accounting tasks.Emotion-Driven Prompting: Exploring how emotion-focused prompts can enhance AI performance and engagement.Practical Applications in Accounting: How to apply prompt engineering in real-world financial analysis and decision-making.

Comprehensive Update: FASB, AICPA (SAS, SQMS, SSARS & Ethics) 25-26

ASU effective in 2024 and beyond Recent SAS Selected ethics interpretations

Living Trust Administration Workshop 25-26

The steps in Trust Administration Delaware Tax Trap -its unique use Change of the exemption in 2026 and its impact Whether to file a 706 for portability election and/or Q-Tipping the Credit Trust Preparation of trust accountings Trust administration of Medi-Cal Trusts, QPRT, GRAT and IDGTs

Staff Tax Training: Partnerships and LLCs - Form 1065 25-26

Extensive review of the partnership tax laws with an emphasis on any new legislative changes and Form 1065 (and related schedules) preparation issues Overview of different forms of business entities, including the check-the-box regulations Formation issues, including the mandatory allocation of the 704(c) pre-contribution gain or losses back to the contributing partner/member Schedule K and K-1 preparation issues including separately and non-separately stated income and expense items (including the 20% qualified business income (QBI) deduction, 3.8% net investment income tax, business interest deduction limitations, fringe benefits and entertainment expenses) Calculating the tax and 704(b) book capital accounts Understand the substantial economic effect requirement to have special allocations to the partners/members Allocation of recourse and non-recourse debt to the schedule K-1s Deductibility of fringe benefits, including health insurance premiums Guaranteed payments & self-employment tax issues and pitfalls Overview of how partnership losses and deductions can be limited to calculating a partner/member s outside basis and at-risk rules 754 election for optional basis adjustments triggering 743 (transfer of interests) and 734 (distributions) Partnership liquidation and distribution tax ramifications at both the partnership and partner level

Risk Assessment Under SAS No. 145: The Key to Audit Quality?

The topics that will be covered in this class include:New concepts due to the issuance of SAS No. 145Revised requirement to separately assess inherent risk and control riskA new definition of significant risk New emphasis on IT controls and risk of material misstatementNew guidance on maintaining professional skepticismRevised requirements to evaluate the design of certain controlsRevised requirements regarding audit documentationNew guidance on scalability

AI in Review: Updates from the Past Second Quarter and Implications for CPA Firms (Q2 Update)

The Ethic of Recruitment and Selection

The major topics covered in this course include:Discussion of ethical and effective recruiting strategiesSelection processes that foster diversity and inclusionHow to increase talent pools to ensure hiring success

Comprehensive Accounting and Financial Reporting Update

The major topics covered in this class include:CECL for nonfinancial institutions.Accounting for Paycheck Protection Program loans.Accounting for web-hosting services.Revenue recognition.Leases.FASB projects in progress.