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Tax Staff Essentials, Level 2: Experienced Staff

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.

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Includes:

  • Expand Your Career with Tax Staff Essentials, Level 2: Experienced Staff
  • Gain Immediate Access

$689

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

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

Gain Immediate Access

This is a digital product that requires a stable and continuous internet. Upon purchase, you will gain immediate online access. Please review the Purchase Information and System Requirements tabs on this page for more information.

To learn more about this program, please visit the Tax Staff Essentials FAQs.

This product is published by AICPA and sold through an exclusive partnership with Wiley.

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

This product is published by AICPA and sold through an exclusive partnership with Wiley.

Order online with our secure system, or call: 888.884.5669 (toll-free) or 928.204.1066 (international).

Return Policy
 

We stand behind our products and want to ensure our customers are completely satisfied.
In the event you are unsatisfied with your purchase, a full refund will be issued upon request within 10 business days of purchase. Refunds will not be issued after this time. This refund agreement is subject to change without notice.

To request a refund, please contact us.

Sales Tax

Sales tax will be calculated at checkout based on local laws of the purchaser.

Forms of Payment

We accept payment in the form of credit card (Mastercard, Visa, Discover or American Express) or via PayPal.

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.

Tax Staff Essentials, Level 2: Experienced Staff

Total $689