Recent Developments: This course provides a review of new tax laws, court cases, IRS rulings, and other developments as we examine their impact on your business clients. Plus, some strategic planning ideas you can use with your tax clients.

Retirement Plans for Business Owners: Small business owners rely on their tax advisors to help them with decisions about whether to establish a retirement plan and what type of plan is best for their situation. This session will provide tax practitioners with the information needed to assist business owners in determining which plan meets their business needs.

Small Business Health Insurance: This session will include a review of the health insurance options available to the owners of various business entities, proprietorships, partnerships, S corporations and C corporations.

Sale of a Business: This session offers a comprehensive analysis of the business and tax aspects of buying and selling a business. We will offer an in-depth study of Form 4797, Sales of Business Property, in addition to Form 8949, Asset Acquisition Statement Under Section 1060, to report the sale of goodwill.

Installment Sales: This session will address the mechanics of how to report gain under the installment method, interest charges applicable to certain large installment sales, repossessions, contingent payment installment sales and the consequences of pledging or transferring installment notes. 

Buy/Sell Agreements: We will review how buy-sell agreements work and analyze the income tax considerations used by partners, LLC members, S corporation shareholders, and C corporation shareholders.

Objectives: Upon completion of this course, you will be able to:

• Identify which health insurance benefits are available to owners of each business entity.
• Categorize transactions into their appropriate parts on Form 4797.
• Identify a contingent installment sale and how to report the transaction for tax purposes.
• Explain the SECURE 2.0 Act changes affecting small business retirement plans.

CPE Credit Information

2024 Business Issues Update and Review 

• Prerequisites: None.
• CE Offered: 
  • IRS 8 CE Hours (1 Hour Federal Tax Law Update, 7 Hours Federal Tax Review); 
  • NASBA 8 Credit Hours (Field of study – Taxes); 
  • CFP 8 Credit Hours (Classroom and Webinars); 
  • Wisconsin Insurance 8 Credit Hours; 
  • Wisconsin Attorneys 8 CLE Hours (Approval pending). 

Recent Developments: We will review the provisions of new tax laws, court cases, IRS rulings, and other developments as we examine their impact on your individual clients.

Tax Treatment for Investments: Annuities, Stocks, Bonds, Mutual Funds, ETFs, Puts and Calls, Net Unrealized Appreciation (NUA), and Worthless securities. How they work and how they are reported for tax purposes.

Ethics: This session will review how preparer penalties under Circular 230 have been applied for tax professionals who did not follow the rules, and how you can avoid those issues in your tax practice

Tax Planning for Later Years in Life: Distributions from retirement plans, annuities, IRAs, and income from social security benefits have tax consequences. Not only does this course define and explain the various forms of retirement income, but it also discusses the tax effects.

Gift Tax Issues: This course will enable practitioners to understand the critical issues of preparing the gift tax Form 709. This course covers the disclosure requirements and the information necessary to properly prepare the form. In addition, we will address the tax treatment of a gift with a life estate interest and the related gift tax consequences.

Estate Tax Issues: This course addresses the preparation of IRS Form 706, the U.S. Federal Estate Tax Return. Most essential for your practice, you should be prepared to properly explain the deceased spouse unused exclusion (DSUE) and why you should document those conversations to avoid future problems when clients choose not to file a Form 706.

 Objectives: Upon completion of this course, you will be able to:

• Identify the types of gifts, limits, and information required on Form 709
• Complete Form 706 and determine how to use the alternate valuation date.
• Understand the tax treatment for the different types of investments.
• Summarize the duties and responsibility requirements for tax professionals under Circular 230.

CPE Credit Information

Part 1 Individual Issues Update and Review 

• Prerequisites: None.
• CE Offered: 
  • IRS 8 CE Hours (1 Hour Federal Tax Law Update, 6 Hours Federal Tax Review, and 1 Hour of Ethics); 
  • NASBA 8 Credit Hours (Field of study – 7 credits of Taxes and 1 credit of Regulatory Ethics); 
  • CFP 8 Credit Hours (Classroom and Webinars); 
  • Wisconsin Insurance 8 Credit Hours (includes 1 credit of Ethics); 
  • Wisconsin Attorneys 8 CLE Hours (Approval pending). 

Federal Update: – A COMPLETE “Form 1040 and Beyond” review of up-to-the-minute tax law and IRS form changes for 2024 tax returns, with a focused explanation and analysis of the more difficult areas. We will also provide numerous practical and useful illustrations to have you up and running for next tax season. 

Complete Analysis of New 2024 Tax Legislation: – An in-depth discussion of the new tax bills, and any additional tax laws that will affect the 2024 income tax return, as well as tax planning ideas for your clients.

Ethics: This session will explore key Circular 230 concepts and provide practical takeaways that face all tax professionals.

State Tax Updates: All Part II participants will have the ability to view the Wisconsin and Arizona state updates for FREE. All Part II Federal seminars will be the same at each location and we will send you a link to view the state update(s) when as soon as they are available. 

Note: The state updates will be available online only; and they are not available for CE credits. 

Objectives: Upon completion of this course, you will be able to:

• Understand the new changes to the most recent federal tax legislation.
• Complete Form 1040 for the 2024 filing season.
• Provide your clients with planning considerations for the upcoming year.
• Understand the due diligence obligations of a tax professional under Circular 230.

CPE Credit Information

Part 2 Individual Issues Update and Review 

• Prerequisites: None.
• CE Offered: 
  • IRS 8 CE Hours (2 Hour Federal Tax Law Update, 5 Hours Federal Tax Review, and 1 Hour of Ethics); 
  • NASBA 8 Credit Hours (Field of study – 7 credits of Taxes and 1 credit of Regulatory Ethics); 
  • CFP 8 Credit Hours (Classroom and Webinars); 
  • Wisconsin Insurance 8 Credit Hours (includes 1 credit of Ethics); 
  • Wisconsin Attorneys 8 CLE Hours (Approval pending).