• Apply the complex rules of FASB ASC 740 (SFAS No. 109 and FIN 48) to new and challenging situations.
• Apply FASB ASC 740 to FASB ASC 805, Business Combinations, and FASB ASC 810, and noncontrolling interests in consolidated financial statements.
• Determine the applicable tax rate for complex situations.
• Determine the consequences of selling a partnership or LLC interest.
• Recognize how to make elections to protect partners and LLC members from unwelcome future consequences arising from current distributions, sales, and/or transfers of interests in the partnership.
• Identify how to calculate the basis of partnership or LLC following distributions of multiple properties.
• Differentiate how to comply with U.S. tax reporting requirements for inbound and outbound transactions and operations.
• Identify how income is sourced to a foreign jurisdiction.
• Determine when to challenge IRS requests.
• Recognize IRS audit techniques, inquiries, and appeal rights.
• Recognize how to manage the information document request process and evaluate the contents of a revenue agent report.
• Identify specific ways to reduce your individual and small business clients’ tax bills.

• 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
• Advanced aspects of FASB ASC 740, including accounting for business combinations and other purchase transactions and stock compensation under FASB ASC 718
• Sale of an interest in a partnership or LLC
• Adjustments to basis of partnership/LLC assets
• Advanced distribution rules
• Allocation of income under IRC Section 704(b)
• Foreign branch and affiliates
• U.S. withholding taxes on foreign business
• Types of IRS audits
• Revenue adjustment report (RAR)
• Accounting for audit adjustments
• Individual tax planning
• Small business tax planning

None.