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Tax Staff Essentials – Level 3, Tax Senior/Supervisor (Complete Bundle) 2020 August


Level 3 training identifies the more difficult areas for experienced tax compliance specialists. We will focus 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 ASC740 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.

Format: Voiceover Powerpoint, Audio and some Video Courses

Learning Objectives

▪ Implement strategies for high-wealth clients, those approaching retirement, homeowners, parents of college-bound children, employees, self-employed individuals, and seniors.
▪ Respond to tax-law and economic developments with up-to-date strategies that save taxes for individual clients.
▪ Render appropriate federal income tax advice to clients who are separated, divorcing, or already divorced.
▪ Identify circumstances that warrant converting from S to C corporation and gain a basic understanding of how to make the conversion.
▪ 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
▪ Analyze the three principle approaches to valuation of a business
▪ 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

Major Topics

▪ Minimizing taxes for high-wealth clients
▪ How new tax developments affect individuals
▪ Using IRAs in strategic plans
▪ S Corp current developments: tax planning impact
▪ Use of qualified subchapter S subsidiaries(QSUB) and trusts (QSST)
▪ Shareholder compensation planning
▪ Types of Trusts and Trustee powers
▪ Basic concept of estate planning
▪ Advantages and disadvantages comparison of Business Entities
▪ Business Acquisition basics
▪ Asset versus stock based Transactions
▪ Valuation considerations
▪ In-depth look at Form 990 and all related schedules
▪ Tax issues facing tax-exempt organizations
▪ Positive communication skills for Leaders and Staff

AICPA - Durham
Course Level
CPE Field of Study
Who Should Attend

Tax Staff with 3-5 years of experience.



Advanced Preparation


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Tax Staff Essentials – Level 3, Tax Senior/Supervisor (Complete Bundle) 2020 August

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