Tax Staff Essentials – Level 3, Tax Senior/Supervisor

Identifying the more difficult areas for experienced tax compliance specialists, this level focuses 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 FASB ASC 740 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.

Learning Objectives

Learning Objective: 

When you complete this level you will be able to:

  • Implement strategies for high-wealth clients, those approaching retirement, homeowners, parents of college-bound children, employees, self-employed individuals, and seniors
  • Render appropriate federal income tax advice to clients who are separated, divorcing, or already divorced
  • 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
  • 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

Topics Discussed

Topics Discussed: 
  • Form 990 — Mastering Its Unique Characteristics
  • Income Tax Accounting
  • Estate & Trust Primer
  • Real Estate Taxation
  • Advanced Tax Planning S Corporations
  • Introduction to Business Acquisitions

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COURSE CODE

TSE3

FIELD OF STUDY

Taxes

CPE CREDIT HOURS

40

KNOWLEDGE LEVEL

Intermediate

INTENDED AUDIENCE

Tax Staff with 3–5 years of experience

PREREQUISITE

Tax Staff with 3–5 years of experience

ADVANCED PREPARATION

None

DELIVERY METHOD

Group Live
On Demand

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aicpalearning@aicpa.org

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