Continuing Professional Education … and more !!!
 

2008 CPE TOPICS
by James R. Hasselback, PhD

(for CPE Sponsor – Professional Accounting Seminars, Inc.)

8 hours of CPE per Topic: (for all of the following seminars)

• Live instruction format; based on the provided course material
• No prerequisites or advanced preparation required
• Intermediate level content (but flexible for each group)

(ITU) – 2008 Income Tax Update (New for 2008; 8 hours of Technical CPE)

This is a dynamic seminar that provides accountants with an update of current federal tax developments affecting tax returns for 2008. The seminar principally focuses on new and pending legislation, IRS interpretations, and recent court decisions on tax laws. A must for the tax practitioner, the course emphasizes preparing the latest year’s income tax returns and gives hints that reduce taxes through effective planning. This practical hands-on approach to tax preparation and planning includes up-to-the-minute coverage of key tax issues that affect practitioners and their clients.

The topics covered in this course are as follows:

      2008 Tax Bills

      Filing Requirements and Exemptions

      Gross Income – Inclusion and Exclusions

      Gains and Losses

      Retirement Plans and Distributions

      Adjustments to Income

      Small Business Developments

      Travel, Meals, and Entertainment Expenses

      Losses

      Itemized Deductions

      Tax Credits

      Alternative Minimum Tax

      Other Taxes, Extensions

      Family Limited Partnerships

(SRE) – Seminar in Real Estate Taxation (Revised for 2008; 8 hours of Technical CPE)

This seminar will discuss the various tax aspects of real estate, including acquisition, financing, operation, disposition, and repossession.

Topics covered in this seminar include:

      The Acquisition Transaction

      Property Additions and Improvements

      Development, Subdivision, and Sale in the Ordinary Course of Business

      Passive Activity Loss Rules

      Home Office Deductions

      Vacation Home

      Sales and Exchanges

      Seller-Financed Sales

      Form of Ownership

(LRD) – The Last Tax Returns of a Decedent (Revised for 2008; 8 hours of Technical CPE)

The only sure thing in death is taxes. Even after death, someone must compute the tax liability for the deceased taxpayer. Moreover, at the taxpayer’s death, a separate taxable entity – the decedent’s estate – is created. The estate is liable for the tax on the income received during the period of its administration. Trusts created by the decedent’s will are taxed as separate entities. In addition, there may be a taxable estate that will be subject to a transfer tax when paid out to the beneficiaries.

Seminar topics include:

      The final income tax return of the decedent

      The estate tax return for the assets left to the beneficiaries

      The fiduciary returns on the income earned by the estate

      The fiduciary returns required upon creation of trusts

(CTX) – Contractor Taxation (New for 2008; 8 hours of “Technical” CPE)

This course is designed to provide the practitioner with a working knowledge about the unique application of federal income tax law to the business of construction contracting. The course will prepare you to assist a construction contractor in federal income tax compliance and planning. You will be able to recognize opportunities for small construction contractors to use alternative methods for tax purposes.

This seminar will cover the following topics:

      Statutory Rules and Regulations Relating to Contractors

      Business Entities

      Change in Accounting Methods

      Depreciation

      Legislative Updates