Tax Staff Essentials, Level 2: Experienced Staff (49 CPE Credits) is designed for junior tax staff who want to take on a wider variety of firm engagements and establish a supervisory role within the firm. Level 2 will broaden your tax knowledge in the areas of multistate taxation, C Corporations, accounting methods and periods and choice of entity. Key subject matters covered include Inventory Valuation and Property Transactions which will be essential for servicing more complex clients. The Tax Staff Essentials courses establish a strong set of skills necessary to grow the abilities and confidence of junior and senior level staff, allowing them to work with greater independence and expand their role in your firm.
Note: This course has been updated for the Tax Cuts and Jobs Act (TCJA) of 2017 ("Tax Reform"). Included with your course, you will have free access to a specially-prepared Course Supplement that provides an explanation of the key provisions of TCJA (including topics not covered in your course).
Courses Included:
Tax Research II
Multistate Taxation
Tax Accounting for Inventories
Taxation of Property Transactions
Intermediate Individual Taxation
Taxation of Corporations
Accounting Methods and Periods
Choice of & Formation of Entity
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.
Key Topics
New individual income tax rates
New corporate tax rates
New pass-through income rules
The qualified business income (QBI) deduction
New rules for certain credits and deductions
C Corporation formation and Section 1244 Stock
Corporate net operating losses
Salaries, employee benefits, and retirement plans
Taxation of property transactions under IRC sections 1231, 1245, 1250
LLC formation and Check-the-Box rules
Partnership and LLC profit and loss allocations
Multistate Income apportionment and allocation
Nexus, UDITPA, MTC
Section 263A, Inventory methods
Choosing an Accounting Method
Accounting Method changes
Learning Objectives
Identify the benefits of forming a corporation
Understand reasonable compensation issues with respect to a Closely Held Business
Analyze the best retirement plan recommendation for a corporation
Describe how partnerships and LLCs opting to be treated as partnerships will report their federal taxable income to the IRS
Determine the tax basis of assets transferred to a partnership or LLC at formation
Explain the deferral of realized gain or loss on a like-kind property exchange
Recognize the potential impact of depreciation recapture
Explain the allowable inventory valuation methods for tax purposes and how to choose the most beneficial in various scenarios
Estimate the tax value of ending inventory under the chosen method
Understand and apply the basic rules for a change in accounting method
Prepare the Federal Form 3115 – Application for Change in Accounting Method and understand how and when this form should be filed by the taxpayer
Understand the key principles of multistate taxation
Distinguish differences between apportionment and allocation of income
Develop basic approaches to state income tax planning with emphasis on the latest developments in economic nexus
Credit Info
CPE CREDITS: Online: 49.0 (CPE credit info)
NASBA FIELD OF STUDY: Taxes
LEVEL: Intermediate
PREREQUISITES: Tax Staff with 1-3 years of experience
ADVANCE PREPARATION: None
DELIVERY METHOD: QAS Self-Study
COURSE ACRONYM: TSE.Level 2
Online Access Instructions
A personal pin code is enclosed in the physical packaging that may be activated online upon receipt. Once activated, you will gain immediate online access to the product.
System Requirements
AICPA’s online CPE courses will operate in a variety of configurations, but only the configuration described below is supported by AICPA technicians.
A stable and continuous internet connection is required. In order to record your completion of the online learning courses, please ensure you are connected to the internet at all times while taking the course. It is your responsibility to validate that CPE certificate(s) are available within your account after successfully completing the course and/or exam.
Supported Operating Systems:
Macintosh OS X 10.10 to present
Windows 7 to present
Supported Browsers:
Apple Safari
Google Chrome
Microsoft Internet Explorer
Mozilla Firefox
Required Browser Plug-ins:
Adobe Flash
Adobe Acrobat Reader
Technical Support: Please contact service@aicpa.org.
- ISBN10 1119555914
- ISBN13 9781119555919
- Publish Date 9 April 2019
- Publish Status Out of Print
- Out of Print 26 April 2022
- Publish Country US
- Imprint John Wiley & Sons Inc
- Format Paperback
- Pages 1
- Language English