**To pay by check, download a 2020 ORDER FORM, otherwise see below**

If you have previously purchased material or tested online, login to your account first on the left, and then click 'Order Now'

First Time Online Users should order first Then Create Account. New or first time online users, Step 1: Purchase Your Package(s) Step 2: Create Your Account
In order to sign up for CPElite's newsletters and CPE credits, choose a package, course, or individual newsletter below. Once you purchase access, you will be directed to create a new account after purchase. When you log in, you will have a customized account page with links to the items you purchased and links to the quizzes to get your CPE credits. Choose an item below to get started.

For course program description, learning objectives, and other information, scroll down to CPE COURSE OFFERINGS and click on the course title for details


2020 Packages

All our materials are approved by the Return Preparer Office.

*Please note the following*

- All courses (including Enrolled Agent Ethical Standards: Practices & Procedures course) will be delivered electronically (pdf) only
- A shipping / handling charge will be added for mailed Elite Quarterly Newsletters
- Please note that you must include payment for S/H to continue to receive the Newsletters by mail, otherwise you will receive a pdf file.
- All manually submitted quizzes will receive certificates of completion by email
- We will require an email address on file for you for processing and record keeping purposes
Thank you!
2020 Unlimited CPE - 66 HRS

2020 Unlimited CPE – 66 hrs electronic delivery only

2020 Unlimited CPE ONLINE ONLY Package – up to 66 hours of CPE – $175.  ALL in PDF format, with quizzes online. Includes four quarterly 4-hour issues of The Elite Quarterly – Taxation plus 2 hour Enrolled Agent Ethical Standards: Practices & Procedures course for enrolled agents and courses. The 2020 courses must be completed by December 31, 2020 under this option.

Included Newsletters:

Spring 2020 Issue (4 hrs)
Summer 2020 Issue (4 hrs)
Fall 2020 Issue (4 hrs)
Winter 2020 Issue (4 hrs)

Included 2020 Courses – updated annually

Enrolled Agent Ethical Standards: Practices & Procedures  (2 hrs)
Affordable Care Act – Employer Mandate (3 hrs)
Earned Income Credit (4 hrs)
S Corporations (3 hrs)
Partnership Taxation (2 hrs)
Corporate Taxation (2 hrs)
2020/2019 Easy Update & Inflation Adjustments (6 hrs)
Tax Cuts & Jobs Act Summary  (4 hrs)
Selected Business Expenses (2 hrs)
Passive Loss and at Risk Rules (2 hrs)
Getting Cash out of your Business (3 hrs)
Entities and Title (2 hrs)
Education Tax Benefits (2 hrs)
Divorce Transfers and Settlements (2 hrs)
Business Travel and Entertainment (2 hrs)
Assets Income and Cash (2 hrs)
Retirement Plans Pensions Annuities (3 hrs)
Home Office Deductions (3 hrs)
Affordable Care Act – Individual Provisions (2 hrs)

Price: $175

2020 Unlimited online only package $175 electronic delivery only

 

Price: $215

2020 Unlimited online courses package $215 electronic delivery of Courses/Ethics and mailed copies of Newsletters


2020 EA Package - 24 hrs

2020 EA Package – 24 hrs electronic delivery only

24 hours of CPE – $155  This satisfies the average annual continuing  education requirement for Enrolled Agents.  Includes four quarterly 4-hour issues of The Elite Quarterly – Taxation  plus 2 hour Enrolled Agent Ethical Standards: Practices & Procedures course and one course all in PDF format.

Included Materials:

Spring 2020 Issue (4 hrs)

Summer 2020 Issue (4 hrs)

Enrolled Agent Ethical Standards: Practices & Procedures  (2 hrs)

Fall 2020 Issue (4 hrs)

Winter 2020 Issue (4 hrs)

Also includes one of three Course Options-updated annually

[1] Affordable Care Act – Employer Mandate – 3 hrs / Earned Income Credit – 4 hrs* 1 free hour! (Total 7 hrs)

[2]  2020/2019 Easy Update & Inflation Adjustments – 6 hrs

[3] Corporate Taxation – 2 hrs / Partnership Taxation – 2 hrs / S Corporations – 3 hrs* 1 free hour! (Total 7 hrs)

Price: $155

2020 EA online package 24 hrs $155 electronic delivery only

 

Price: $195

2020 EA online package 24 hrs $195 electronic delivery of Courses/Ethics and mailed copies of Newsletters


2020 Annual Subscription - 18 hrs

2020 Annual Subscription – 18 hrs electronic delivery only

2020 Annual Subscription to The Elite Quarterly – 18 hours of CPE – $135 Includes four quarterly 4-hour issues of The Elite Quarterly – Taxation plus 2 hour Enrolled Agent Ethical Standards: Practices & Procedures course for enrolled agents – ALL in PDF format only.

Included Materials:

Spring 2020 Issue (4 hrs)

Summer 2020 Issue (4 hrs)

Enrolled Agent Ethical Standards: Practices & Procedures  (2 hrs)

Fall 2020 Issue (4 hrs)

Winter 2020 Issue (4 hrs)

Price: $135

2020 Annual package 18 hrs $135 electronic delivery only

 

2020 Annual package 18 hrs $175 electronic delivery of Ethics and mailed copies of Newsletters


Other CPE Options-

Individual newsletters 4 hrs each and  Enrolled Agent Ethical Standards: Practices & Procedures

All of our materials are approved by the Return Preparer Office.

The Elite Quarterly, per issue, no subscription

The Elite Quarterly, per issue, no subscription [O]

Each issue of The Elite Quarterly may be purchased individually at a cost of $10 per CPE hour.

The Elite Quarterly, Taxation

Spring 2020 Issue (4 hrs) $40

Program Description

The Coronavirus response and impact on tax practitioners is at the forefront of this Spring’s 2020 issue of The Elite Quarterly.   We focus in on specific areas of concern including passage of the Families First Coronavirus Response Act, tax relief, extended deadlines and economic stimulus.   Also addressed in this issue are changes resulting from passage of the “Secure” Act which represents the most significant piece of legislation impacting retirement accounts in well over a decade.  Recent court cases and IRS pronouncements round out topics for this quarter.

Learning Objectives

  1. Identify key elements contained in H.R. 6201, the Families First Coronavirus Response Act.
  2. Recall changes to IRA’s and qualified retirement plans resulting from passage of the Secure Act.
  3. Recall resources provided by the recently established Gig Economy Tax Center.
  4. Recall final regulations issued by the IRS in connection with Offers in Compromise.
  5. Identify details in connection with Notice 2020-15 pertaining to High Deductible Health Plans.

Knowledge Level
Update

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
4.00 CPE Credits

Field of Study

Taxes

Newsletter – $40 electronic delivery only

Spring 2020 Issue (4 hrs) $50

Newsletter – $50 each with mailed copy of Elite Quarterly Newsletter


Summer 2020 Issue (4 hrs) $40

Newsletter – $40 electronic delivery only

Summer 2020 Issue (4 hrs) $50

Newsletter – $50 each with mailed copy of Elite Quarterly Newsletter


Fall 2020 Issue (4 hrs) $40

Newsletter – $40 electronic delivery only

Fall 2020 Issue (4 hrs) $50

Newsletter – $50 each with mailed copy of Elite Quarterly Newsletter


Winter 2020 Issue (4 hrs) $40

Newsletter – $40 electronic delivery only

Winter 2020 Issue (4 hrs) $50

Newsletter – $50 each with mailed copy of Elite Quarterly Newsletter


CPE COURSE OFFERINGS - PDF files with online testing

Courses from 2 - 6 hrs each-updated annually - click course title for details

Enrolled Agent Ethical Standards: Practices & Procedures

Enrolled Agent Ethical Standards: Practices & Procedures  – 2 HRS $20 

Program Description

The Internal Revenue Service routinely processes more than 200 million tax returns each year, many of them prepared by tax professionals. Not surprisingly, as tax law becomes increasingly complex, taxpayers often seek the knowledgeable assistance of enrolled agents and other professionals in their preparation.
To help ensure enrolled agents and other professionals understand their ethical responsibilities in representing their clients before the IRS and in preparing tax returns, the IRS has published Treasury Department Circular 230. Circular 230 offers substantial guidance by:

  • Setting forth rules relating to the authority to practice before the IRS; and
  • Identifying the duties and restrictions relating to such practice.

This course will examine the principal rules, duties and restrictions applicable to enrolled agents in their professional activities.

Learning Objectives
Upon completion of this course, you should be able to:
1.     Recognize the permitted scope of enrolled agent responsibilities in their practice before the Internal Revenue Service.
2.     Identify best practices for preparing or assisting in the preparation of a submission to the Internal Revenue Service.
3.     Recall duties and restrictions applicable to enrolled agents with respect to:

o  Information furnished to the IRS
o  Taxpayer omissions, errors and noncompliance with US revenue laws
o  Tax Preparer diligence
o  Client records
o  Conflicts of interest
o  Solicitation of Business

4.     Identify types of conduct considered disreputable.
5.     Recall monetary and non-monetary sanctions that may be imposed by the Office of Professional Responsibility on an enrolled agent for engaging in sanctionable acts.

Program Knowledge Level

Overview

Prerequisite Requirements
None

Advanced Preparations
None

Amount of CPE Credits
2.00 CPE Credits

Field of Study
Regulatory Ethics

ELECTRONIC DELIVERY ONLY
Recommended CPE Credit: 2 Hrs

NEW Estate Planning COURSE for 2020!!  

Estate Planning - 2 HRS

Estate Planning – 2 HRS

Program Description
Estate planning is when tomorrow becomes today! As a result of recent legislation, estate planning has been made surprisingly simple. This course surveys wills, living trusts, gifts, insurance, marital property, and probate avoidance. The will and trust forms are explored along with living wills, durable powers of attorney and nominations of conservator.

Learning Objectives
1. Recognize members of the estate planning team including their role in the estate administration process, specify the unlimited
marital deduction requirements, cite the applicable exclusion amount and identify the effects of stepped-up basis particularly, the repealed of modified carryover basis.
2. Determine the limits of a simple will and the advantages and disadvantages of living trusts.
3. Identify specialized estate planning tools noting how they permit clients to pass more wealth and save death taxes, cite the uses of a durable power of attorney, and specify instances when a conservatorship is appropriate.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
2.00 CPE Credits

Field of Study
Taxes

Price: $20.00

Affordable Care Act - Employer Mandate - 3 HRS

AFFORDABLE CARE ACT – EMPLOYER MANDATE – 3 HRS

Program Description
The Patient Protection and Affordable Care Act (PPACA) has brought about the most significant change in healthcare since the passage of the 1965 legislation that authorized Medicare. It imposes healthcare-related requirements on health plans, health insurers and employers.
Eligible small employers may receive tax credits for providing health insurance coverage to their employees, and large employers may find themselves subject to tax penalties for failing to provide such employee coverage. This course will review the principal coverage provisions of the law and will examine its tax impact on employers.

Learning Objectives
1. Identify PPACA rules applicable to grandfathered health plans.
2. Recall conditions that would permit an insurer to rescind health insurance coverage.
3. Recognize the requirements imposed by healthcare reform legislation with respect to patient protection provisions.
4. Recognize the requirements imposed by healthcare reform legislation with respect to dependent coverage to young adults.
5. Identify principal coverage provisions of the PPACA.
6. Recognize the rules that apply to a small employer’s eligibility for a health insurance premium credit.
7. Recall potential penalties that may be imposed on large employers under the PPACA.
8. Identify potential tax penalties that may be imposed under the PPACA for an employer’s failure to meet the applicable shared responsibility requirements.
9. Identify tax credits for which a small employer may be eligible for providing employee health insurance coverage.

Program Knowledge Level
Overview

Prerequisite Requirements
None

Advanced Preparations
None

Amount of CPE Credits
3.00 CPE Credits

Field of Study
Taxes

Price: $30.00

Earned Income Tax Credit - 4 HRS

EARNED INCOME TAX CREDIT – 4 HRS

Program Description

The Earned Income Credit (EIC) is a refundable tax credit that has a significant impact on United States revenue. In fact, EIC claims in any year generally total more than $68 billion.
EIC claims are also increasing in both number and amount1. In the ten year period ending in 2016, the number of EIC claims increased from 24.6 million to 27.4 million, an increase of 11.4%. Not only had the number of claims for EIC increased over the period, the average credit per family also increased by 23.5%, from $1,974 at the beginning of the period to $2,437 in the year the 10-year period ended. The combination of an increased number of EIC claims coupled with an increase in the average credit caused the total amount of EIC claimed to climb by 37.5% over the period from $48.5 billion to $66.7 billion.
In a recent year, 150.3 million individual federal tax returns were filed, and 27.4 million—18.2% of individual taxpayers—claimed the Earned Income Credit. Based on that percentage, it would not be unexpected that approximately one taxpayer in every five may claim the EIC.

Learning Objectives

1. Identify the EIC eligibility rules that apply to all taxpayers.
2. Recall EIC eligibility rules applicable to taxpayers who have a qualifying child.
3. Identify EIC eligibility rules that apply to taxpayers who do not have a qualifying child.
4. Recognize how the EIC for which an eligible taxpayer qualifies is determined.
5. Identify the most common earned income credit errors and their potential problem areas.
6. Identify the additional requirements imposed on taxpayers claiming the EIC following disallowance.
7. Recognize the exceptions applicable to the requirement that a taxpayer file IRS Form 8862 following disallowance of an EIC claim.
8. Recall the year in which an IRS Form 8862 must be filed to claim EIC after the IRS has disallowed it.
9. Recall the duration of the prohibition against filing for the EIC in the event a taxpayer’s EIC error is determined to be the result of reckless/intentional disregard of EIC rules or fraud.
10. Identify the due diligence requirements a tax return preparer must meet when preparing a tax return claiming the earned income credit.
11. Recognize the records a tax return preparer is required to keep to support a client’s claim for the earned income credit.
12. Identify the penalties that may be imposed on a tax return preparer for failing to comply with due diligence requirements when preparing a client’s tax return claiming the earned income credit.

Program Knowledge Level
Overview

Prerequisite Requirements
None

Advanced Preparations
None

Amount of CPE Credits
4.00 CPE Credits

Field of Study
Taxes

2020/2019 Easy Update & Inflation Adjustments - 6 HRS

2020/2019 EASY UPDATE & INFLATION ADJUSTMENTS – 6 HRS

Program Description
This course examines key individual, business, retirement, and estate tax provisions recently enacted or indexed for inflation in an overview format that is easy to reference. The emphasis is on quick access to major tax changes having special meaning to the tax practitioner and return preparer. The course is a great resource and way for professionals and staff alike to easily get the “big chunks” and bring their professional knowledge up to speed.

Learning Objectives
1. Recognize the various issues affected by inflation and recent
tax law developments especially as they relate to individual tax
brackets, exemptions & deductions, the AMT, the child tax
credit, alimony, HSAs, education plans, and energy credits.
2. Determine the key business tax issues affected by inflation
adjustments and recent legislative changes, including corporate
tax rates, entertainment expenses, tax credits & deductions,
bonus depreciation, expensing, standard mileage rates,
employment taxation, repatriation of foreign income, small
business stock, partnership taxation, and excessive
compensation.
3. Specify differences between various retirement plans, including
inflation-adjusted contribution limits and phaseout limits, and
determine estate taxes by identifying trust income tax rates and
determining applicable exclusion amounts.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
6.00 CPE Credits

Field of Study
Taxes

Price: $60.00

Corporate Taxation - 2 HRS

CORPORATE TAXATION – 2 HRS

Program Description

This course examines and explains the basics of corporate taxation. The focus is on regular or C corporations, their formation, and operation under tax law. The advantages and disadvantages of corporations are examined; incorporation and capitalization issues are discussed; and, basic tax rates and specialty taxes are reviewed. The tax treatment of operational expenses and deductions are outlined, and accounting periods and methods are explored. Finally, the dangers of multiple corporations and corporate distributions are highlighted.

Learning Objectives

1. Recognize regular corporation elements, specify their advantages and disadvantages noting tax treatment, and determine how to distinguish them from PSC corporations.
2. Identify §351 requirements for tax-free incorporation, recognize the impact of the transfer of money, property or both by prospective shareholders, and determine the availability of §1244 for stock losses and §195 for amortization of start-up expenditures.
3. Identify the corporate alternative minimum tax noting the small corporation exemption, specify the corporate tax consequences of capital gains and losses, and recognize ways to avert the accumulated earnings trap noting the potential use of the accumulated earnings credit.
4. Determine accounting periods and methods available to corporations and specify the tax consequences of liquidating property distributions.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
2.00 CPE Credits

Field of Study
Taxes

Price: $20.00

Partnership Taxation - 2 HRS

PARTNERSHIP TAXATION – 2 HRS

Program Description

The course will examine tax issues relating to the formation and operation of partnerships. Participants will gain a familiarity with basic areas of partnership taxation so as to recognize a problem and have at hand some practical knowledge for its solution.

Learning Objectives

1. Recognize the tax treatment of partnerships noting advantages and disadvantages and their effect on income attribution.
2. Determine partnership income and reporting requirements by:
• Identifying filing requirements and the impact partnership K-1’s on individual or partner taxation; and
• Specifying loss deduction limitations and stating the tax treatment of guaranteed payments, organizational expenses, and other fees.
3. Identify the tax treatment of contributions of property to a partnership under §721 and the impact on tax basis.
4. Recognize the tax treatment of partnership distributions and sale of partnership interests by:
• Identifying the tax treatment of partner liabilities and of sales and exchanges of partnership interests and property; and
• Determining the differences between liquidating and nonliquidating payments including the definition of a partner’s basis on such an event.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
2.00 CPE Credits

Field of Study
Taxes

Price: $20.00

S Corporations - 3 HRS

S CORPORATIONS – 3 HRS

Program Description

In this course, the intricacies of setting up and terminating an S corporation are detailed and taxation is discussed. The numerous advantages and disadvantages of this entity are identified to help practitioners determine whether the S corporation is most suitable for their clients. Eligible domestic corporations can avoid double taxation by electing to be treated as an S corporation under the rules of Subchapter S. Subchapter S provides an optional method of corporate taxation and allows small business corporations to elect unusual tax treatment. The S corporation is taxed like a partnership, but in other respects, S corporations are taxed like C corporations.

Learning Objectives

1. Recognize a client’s potential use of the S corporation format and its tax advantages and disadvantages by citing the requirements for an S corporation election, identifying eligible S corporation shareholders, specifying the one-class-of-stock regulations, and determining the ways an S corporation election can be terminated.
2. Identify the concepts of S corporation taxation by:
• Recognizing the application of passive income taxation, accumulated adjustments accounts, built-in gains, net operating losses, tax preference items, and potential capital gains taxes,
• Determining a shareholder’s stock basis from capitalization and loan activity,
• Specifying the related party rules including their impact on deductions, available fringe benefits, and tax forms to use when filing as an S corporation.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
3.00 CPE Credits

Field of Study
Taxes

Price: $30.00

Tax Cuts & Jobs Act Summary - 4 HRS

Tax Cuts & Jobs Act Summary – 4 HRS

Program Description

The Tax Cuts & Jobs Act (“TCJA”) was approved by Congress on December 20, 2017, and signed by President Trump on December 22, 2017. The Act impacts virtually every individual and business in a way not seen in over 30 years. With most provisions effective 2018 and later, it lowers the individual and corporate tax rates, repeals numerous tax credits and deductions, enhances the child tax credit, boosts business expensing, and impacts the Affordable Care Act (ACA) by effectively repealing the individual mandate.
This course is an overview providing reference to selected individual, education, business, retirement, insurance, international and estate tax provisions enacted or indexed for inflation by the TCJA. The resulting major tax changes carry special meaning to the tax practitioner and return preparer. The course is intended to be a resource for tax professionals and staff alike to gain easy access to the most important major changes enacted by TCJA.

Learning Objectives

1. Apply changes imposed by the Tax Cuts & Jobs Act (TCJA) relating to individual income taxes by identifying:
a. modifications to tax rates & the personal exemption,
b. AMT exemptions,
c. changes to the child tax credit,
d. new educational incentives & student loan discharge rules,
e. Mortgage interest & suspended deduction provisions, and
f. Alimony & estate taxation changes.
2. Point out key TCJA business provisions, including new corporate tax rates, expanded §179 expensing, denial of certain entertainment expenses, and business credits.
3. Recognize TCJA changes to:
a. insurance taxation,
b. tax treatment of excess of compensation,
c. deferred foreign income provisions, and
d. exempt organization and international taxation.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
4.00 CPE Credits

Field of Study
Taxes

Price: $40.00

Selected Business Expenses - 2 HRS

Selected Business Expenses – 2 HRS

Program Description

Business expenses are the costs of carrying on a trade or business, and they are usually deductible if the business is operated to make a profit. This course reviews various expenses that businesses may deduct and the requirements that must be met for those expenses to qualify for deduction. Furthermore, practitioners can use this as a guide to determine which of their clients’ taxes are deductible as business expenses.

Learning Objectives

1. Cite the elements of the §162 and the limitations imposed by the not-for-profit provisions noting how these elements and restrictions impact business deductions such as cost of goods sold, leases, taxes, loan points, and interest expense.
2. Determine the corporate dividends received deduction, identify the cost allocation on the business use of a residence and specify casualties, thefts and research costs in the context of business deductions under §162.
3. Recognize methods of amortization for business startup, organizational costs, and §179 intangibles with the cost depletion methods used on natural resources.
4. Identify depreciation rules related to ACRS and MACRS, and cite the elements of the business bad debt provisions under §166.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
2.00 Credits

Field of Study
Taxes

Price: $20.00

Passive Loss and at Risk Rules - 2 HRS

Passive Loss and at Risk Rules – 2 HRS

Program Description

With the adoption of the passive loss limitation rules, taxpayers are looking to CPAs for guidance related to what deductions are allowed, disallowed, or suspended. Updating practitioners on the practical aspects of §469, this course addresses the needed skill to handle these pragmatic issues. Fundamentals are reviewed, planning opportunities are identified, and creative strategies are discussed and evaluated along with remaining traditional approaches. The goal of this instructive course is to understand and solve client problems under §469, with emphasis on tax savings ideas. Participants will learn to master the proper administration of these complex and often cumbersome provisions.

Learning Objectives

1. Identify affected taxpayers, categories of income and loss and passive losses under §469 and necessary §469 calculation steps and specify the §469 & §1211 limits and the ordering and suspension of any disallowed losses.
2. Recognize a taxpayer’s material participation in an activity by:
a. Identifying the material participation tests and their application to entities such as partnerships and corporations;
b. Specifying the activity grouping rules noting exempt activities;
c. Determining passive activity particularly, the treatment of rental activity as passive; and
d. Identifying “nested” activities.
3. Identify special passive loss rules and calculations by:
a. Determining alternating use affects on amount realized and adjusted basis and citing additional loss limitations outside of §469;
b. Recognizing requirements for the special $25,000 allowance; and
c. Specifying recharacterization rules and their purpose.
4. Recognize the passive activity audit guidelines identifying audit issues, determine the real estate rental activity credit exception, and cite the at-risk limit rules as they relate to §469.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
2.00 CPE Credits

Field of Study
Taxes

Price: $20.00

Getting Cash out of your Business - 2 HRS

Getting Cash out of your Business – 3 HRS

Program Description

This course examines the various ideas, methods, and techniques capable of optimizing the overall compensation package for key employees and principals in small to medium-sized businesses. Qualified and non-qualified deferred compensation, benefit targeting, insurance programs, statutory fringe benefits, interest-free loans, and investment planning are investigated. Consideration is given to indirect compensation in the form of business entertainment, expense accounts, auto use, travel, and transportation. The new field of professional services is probed to provide tax, financial and estate planning to the key executive.

Learning Objectives

1. Identify types of income, from a financial and tax perspective, to be budgeted into cash so that income-producing assets can be acquired and managed for an effective investment plan.
2. Determine compensation to maximize the net dollar return using strategies that involve all aspects of how the client relates to the company for which they may be an owner, employee, or both.
3. Specify the differences between qualified deferred compensation plans and nonqualified deferred compensation plans, and recognize defined contribution plans from defined benefit plans noting the characteristics of each so that business owners may choose the most suitable plan to accomplish their financial and worker incentive objectives.
4. Recognize the scope and variety of excluded fringe benefits including tax treatment, operational details, and level of incentive-based compensation.
5. Identify the disallowance of entertainment expenses, determine the tax treatment of reimbursements paid under accountable and unaccountable plans, and recognize deductible travel expenses undertaken for business.
6. Specify types of insurance that a company can provide its employees, denies the various types of equity participation available from which companies may choose, and identify the basic types of buy-sell agreements.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
3.00 CPE Credits

Field of Study
Taxes

Price: $30.00

Entities and Title - 2 HRS

Entities and Title – 2 HRS

Program Description

Before launching into an estate planning program, it’s important to know who owns what and exactly for whom you are planning. This requires that methods of holding title must be analyzed, considered, and selected. Sole proprietorships, S corporations, C corporations, partnerships, and limited liability companies are analyzed as to formation, operation, and ultimate disposition. Since who or what holds title imposes its own unique tax and legal consequences on the estate plan, emphasis is given to the maximization of tax benefits in each business format. While each has its own separate characteristics, several may be used together in more sophisticated planning.

Learning Objectives

1. Specify the various types of corporations, identify S corporation rules and their tax advantages and disadvantages, cite the advantages and disadvantages of corporations relative to other types of entities, and determine how leasebacks to corporations work;
2. Identify the different types of joint ownership and how to use the benefits of partnerships, trusts, and limited liability companies to hold property;
3. Recognize the various retirement plans noting how they can be used to provide substantial lifetime benefits to a business owner and to employees.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
2.00 CPE Credits

Field of Study
Taxes

Price: $20.00

Education Tax Benefits - 2 HRS

Education Tax Benefits – 2 HRS

Program Description

Today taxpayers must plan for their children’s education. Touching on various topics such as qualified tuition programs (QTPs), scholarships and fellowships, this course examines the tax treatment of costs related to education. Practitioners will learn the ins and outs of the tax benefits concerning education and will be able to identify those educational expenses that are deductible. Additionally, financial planning strategies and techniques are outlined to better prepare taxpayers for future educational costs.

Learning Objectives

1. Identify deductible education expenses and travel costs under the requirements of §162.
2. Determine the qualified credit amounts under the HOPE (“American Opportunity”) Credit and the requirements of Coverdell education savings accounts.
3. Identify the deductible amount to claim for §221 student loan interest and recognize the permissible benefits of §529 qualified tuition programs.
4. Specify the tax-free benefits of §117 scholarships and fellowships and who is eligible for a §132 qualified tuition reduction.
5. Identify educational incentives and financial aid requirements to meet college funding needs.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
2.00 CPE Credits

Field of Study
Taxes

Price: $20.00

Divorce Transfers and Settlements - 2 HRS

Divorce Transfers and Settlements – 2 HRS

Program Description

Participants will learn how to apply, implement, and evaluate the strategic tax aspects of marital dissolutions and living together arrangements. Current perspectives on property transfers and asset divisions are examined with an emphasis on planning considerations. This course reviews property settlements and other transfers incident to divorce. Basis allocation, third party transfers and purchases between spouses are also examined. Common pitfalls for the unwary such as transfers in trust, installment notes, and purchases between spouses are analyzed. Application of these tax principles is exampled in selected asset divisions of the residence, business interests, insurance, and pension benefits.

Learning Objectives

1. Identify the various forms of marital property and how to proceed with a tax structured property settlement noting the benefits of premarital agreements to avoid potential divorce problems.
2. Recognize property settlements under §1041 by:
a. Identifying its application to interspousal and third party transfers,
b. Specifying the factors that determine whether or not a property transfer is incident to divorce under §1041,
c. Determining property basis for the transferor and transferee spouse under §1041.
3. Identify remedies for the deferred tax pitfall of §1041 by:
a. Determining deferred tax liability of interspousal purchases,
b. Recognizing the tax deferral of §1031 exchanges,
c. Specifying the key elements of the home sale exclusion and stating their application;
d. Recognizing benefit distribution problems and the tax advantages of QDROs.

Program Knowledge Level

Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
2.00 CPE Credits

Field of Study
Taxes

Price: $20.00

Business Travel and Entertainment - 2 HRS

Business Travel and Entertainment – 2 HRS

Program Description

Taxpayers are once again looking to CPAs for guidance and planning related to travel and entertainment expenses. This comprehensive course examines and explains the practical aspects of business travel and entertainment deductions. To determine the expenses that taxpayers are able to deduct, fundamentals are reviewed and planning opportunities are identified. Practitioners will learn to master the proper administration of these complex and often cumbersome provisions.

Learning Objectives

1. Recognize the “away from home” requirement and related deductions, determine what constitutes transportation and travel expenses noting the tests for tax home and recognize the differences between temporary and indefinite work assignments including their effect on a tax home.
2. Identify the business purpose requirement using the 51/49 percent test, determine deductible conventions and meetings, and specify the limitations applied to meals and lodging when traveling.
3. Determine what constitutes business entertainment and identify business entertainment activity deduction restrictions and disallowance.
4. Specify the §274(e) exceptions to entertainment deduction disallowance, recognize the necessity of expense substantiation, and determine accountable and nonaccountable plans noting the impact on deductions.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
2.00 CPE Credits

Field of Study
Taxes

Price: $20.00

Assets Income and Cash - 2 HRS

Assets Income and Cash – 2 HRS

Program Description

This course integrates federal taxation with overall financial planning. The course explores tax strategies relating to the central financial tactics of wealth building, capital preservation, and estate distribution. The result is a unified explanation of tax-economics that will permit the tax professional to locate, analyze, and solve financial concerns. Designed to improve the quality of services to clients and the profitability of engagements, this program projects the accountant into the world of financial planning.

Learning Objectives

1. Identify investment purposes and retirement misconceptions, the multi-step retirement process and the elements of investment planning.
2. Determine income types, from a tax perspective, to be budgeted into cash so that income-producing assets can be acquired and managed for an effective investment plan.
3. Recognize the means of achieving tax deferral noting like-kind exchanges, retirement plans, and installment sales, and specify the double financial benefit of exchanging through tax postponement and possible tax elimination.
4. Determine how to use tax credits, estimated taxes, and basic deductions to effectively reduce federal income tax and thereby increase discretionary income for investment purposes.
5. Specify formats for income splitting that can benefit taxpayers by lowering overall taxes as a unit and permitting wealth and tax allocation among individuals or entities.
6. Identify the tax benefits of the $500,000 home sale exclusion, municipal bonds, divorce and separation settlements, gifts and inheritances, life insurance, fringe benefits, and Social Security to eliminate tax on realized gain and ordinary income.

Program Knowledge Level
Overview

Prerequisite Requirements
General understanding of federal income taxation

Advanced Preparations
None

Amount of CPE Credits
2.00 CPE Credits

Field of Study
Taxes

Price: $20.00

Retirement Plans Pensions Annuities - 3 HRS

Retirement Plans Pensions Annuities – 3 HRS

Program Description

Employer-sponsored retirement plans, generally referred to in the aggregate as qualified employee plans, constitute one of the important “legs” of the retirement stool that individuals look to for their income in retirement. The other two legs of that stool are personal savings—through investment in securities, deferred annuities, savings accounts, etc.—and Social Security retirement benefits. This course will examine qualified employee plans, their limits and their tax treatment along with a discussion of annuities and their taxation.
Annuities offer their owners the opportunity to systematically liquidate a principal sum or save money for a long-term objective. For many annuity buyers, that objective is to provide income during retirement. As we will see in our examination of annuities, they provide owners with a number of advantages; principal among them is their tax treatment. By purchasing and investing in an annuity, a contract owner can avoid current income taxation of earnings. By avoiding current income taxation, earnings that might have been used to pay current income taxes can be invested to produce additional income.
Annuities’ tax advantages aren’t limited to tax deferral, however; annuities offer additional tax advantages. For example, an investor purchasing a variable annuity can change his or her investment allocation in the contract’s variable subaccounts whenever desired. Typically, such changes are made in order to implement new objectives or to modify the level of risk assumed. From a tax point of view, the important issue is that the contract owner can make these changes without being required to recognize income as would be required if, for example, the investor liquidated his or her stock portfolio in order to purchase bonds. In addition to these tax benefits, a contract owner that elects to annuitize his annuity contract, i.e. to take a periodic income from it, will find that part of each periodic income payment may be tax free as a return of his or her investment in the annuity contract.

Learning Objectives

1. Identify key characteristics of qualified employee plans.
2. Identify limits imposed on qualified employee plan contributions and benefits.
3. Recall the tax treatment of loans from qualified plans.
4. Recall federal tax law rules specific to qualified employee plan contributions and distributions.
5. Recall federal tax rules specific to deferred annuities.

Program Knowledge Level
Overview

Prerequisite Requirements
None

Advanced Preparations
None

Amount of CPE Credits
3.00 CPE Credits

Field of Study
Taxes

Price: $30.00

Home Office Deductions - 3 HRS

Home Office Deductions – 3 HRS

Program Description

Each year the U.S. Census Bureau publishes what it refers to as nonemployer statistics1 that may provide information about the increased importance of the business use of taxpayers’ homes. A “nonemployer,” for purposes of the statistics, is defined as a business that has no paid employees, has annual business receipts of at least $1,000 and is subject to federal income taxes. These nonemployers may be organized as corporations, partnerships or sole proprietorships. Because they have no paid employees, nonemployers are more likely than others to operate their businesses from their homes and seek a home office tax deduction.
The data supplied on nonemployers show a generally increasing number of these businesses, from a total of 19.5 million in 2004 to 25.7 million in 2017. Although they have no paid employees, they account for significant receipts. In 2004 they produced receipts of $887 billion; by 2016, those receipts had grown to $1.2 trillion2. Clearly, the likelihood that any tax return preparer will be required to prepare a taxpayer’s tax return with a home office deduction is significant and is becoming more likely each year.
This course will examine the federal income tax deduction for business use of a home and will discuss:
• Qualifying for a home office tax deduction;
• Determining a taxpayer’s home office deduction using the actual expense and simplified methods;
• The special home-office deduction rules that apply to daycare facilities;
• The taxpayer’s home-office deduction recordkeeping requirements; and
• Where to take the deduction and the forms a tax preparer must use in connection with it.

Learning Objectives

1. Recognize the general requirement for exclusive use applicable to home-office deduction and the exceptions to the requirement.
2. Recognize the factors that must be considered to determine if a taxpayer’s home is the principal place of business for purposes of the home-office deduction.
3. Identify exceptions to the requirement that a home office must be the taxpayer’s principal place of business in order to qualify for a home-office deduction.
4. Recall the actual expense method and simplified method of figuring the home-office deduction.
5. Identify expenses normally deductible by taxpayers using a home for business purposes who use the actual expense method.
6. Recognize the limits applicable to a home-office deduction.
7. Identify where expenses of a home office are deducted on a tax return.
8. Recognize the recordkeeping requirements applicable to taxpayers taking a home-office deduction.

Program Knowledge Level
Overview

Prerequisite Requirements
None

Advanced Preparations
None

Amount of CPE Credits
3.00 CPE Credits

Field of Study
Taxes

Price: $30.00

Affordable Care Act - Individual Provisions - 2 HRS

Affordable Care Act – Individual Provisions – 2 HRS

Program Description

By changing many of the rules traditionally applicable to health insurance and imposing healthcare-related requirements on virtually every individual, the Patient Protection and Affordable Care Act (PPACA) is likely to affect virtually every person in the United States in some way.
The Patient Protection and Affordable Care Act (PPACA) imposes various tax increases in order to generate revenue and uses a carrot and stick approach to ensure compliance with its provisions by offering tax credits for compliance and, until 2019, by imposing tax penalties for non-compliance. This course will review the principal provisions of the law affecting individuals and will consider the:
• Coverage-related provisions of the PPACA addressing –
o Plan grandfathering pursuant to which health coverage in force at the time of the law’s passage may be continued,
o The prohibition of pre-existing condition exclusions,
o The proscription of lifetime and annual benefit limits,
o The limitation of health coverage rescissions,
o The requirement for certain patient protections,
o The general requirement for universal health care coverage, and
o The requirement that plans covering children extend child coverage until age 26;
• Various personal income tax changes affecting taxpayers; and
• Tax credits authorized under the law to assist taxpayers by helping them purchase and maintain health insurance coverage.

Learning Objectives

1. Identify the rules applicable to Grandfathered health plans.
2. Identify the rules applicable to annual and lifetime benefit limits.
3. Identify principal healthcare provisions of the PPACA affecting individuals.
4. Identify changes made by the PPACA related to the treatment of costs for over-the-counter drugs and medical expense FSA contributions.
5. Identify changes made by the PPACA related to the tax penalty for nonqualified Archer MSA and HSA distributions.
6. Identify changes made by the PPACA related to medical expense deductions.
7. Identify changes made by the PPACA related to the additional tax on the earnings of high-income taxpayers.
8. Identify changes made by the PPACA related to the additional tax on high-income taxpayers’ net investment income.
9. Recall tax credits designed to help ensure that individuals are able to purchase and maintain health insurance coverage.

Program Knowledge Level
Overview

Prerequisite Requirements
None

Advanced Preparations
None

Amount of CPE Credits
2.00 CPE Credits

Field of Study
Taxes

Price: $20.00


2019 Packages

**To pay by check, download a 2019 ORDER FORM, otherwise see below**

All our materials are approved by the Return Preparer Office.

2019 EA Package - 24 hrs

 


2019 CPE Options-

Individual newsletters and courses between 2 – 6 hrs each

All of our materials are approved by the Return Preparer Office.

The Elite Quarterly, per issue, no subscription

The Elite Quarterly, per issue, no subscription [O]

Each issue of The Elite Quarterly may be purchased individually at a cost of $10 per CPE hour.

The Elite Quarterly, Taxation

Spring 2019 Issue (4 hrs) $40

Newsletter - $40 electronic delivery only

Spring 2019 Issue (4 hrs) $50

Newsletter - $50 each with mailed copy of Elite Quarterly Newsletter


Summer 2019 Issue (4 hrs) $40

Newsletter - $40 electronic delivery only

Summer 2019 Issue (4 hrs) $50

Newsletter - $50 each with mailed copy of Elite Quarterly Newsletter


Fall 2019 Issue (4 hrs) $40

Newsletter - $40 electronic delivery only

Fall 2019 Issue (4 hrs) $50

Newsletter - $50 each with mailed copy of Elite Quarterly Newsletter


Enrolled Agent Ethical Standards: Practices & Procedures

Enrolled Agent Ethical Standards: Practices & Procedures  (2 hrs) $20 

ELECTRONIC DELIVERY ONLY
Recommended CPE Credit: 2 Hrs

CPE COURSE OFFERINGS - PDF files with online testing

Enrolled Agent Ethics - 2 HRS

Enrolled Agent Ethical Standards: Practices & Procedures  - 2 hrs $20 

ELECTRONIC DELIVERY ONLY