We offer the following CPE courses free of charge
RD 101- Overview of the Federal R&D Tax Credit. The R&D tax credit is one of the most substantial tax credits available to businesses. Any company involved in developing or improving new products or processes may qualify for both federal and state R&D tax credits. This presentation covers:
- The history of the credit
- What industries qualify
- Qualifying activities
- Excluded activities
- How the credit is computed
- Case studies
- Tax wise – how flow through and c-corps utilize this credit
- Audit environment
- How to identify an R&D tax credit opportunity
RD 201 - Court Cases That Impact an R&D Tax Credit Project. This course was designed to help participants understand the various court cases that govern the application of the R&D tax credit. Several court cases are highlighted along with the main issue as it relates to R&D such as:
- Qualifying activities
- Qualifying expenses
- Base period
- Above first-line management
RD 301 - Navigating an R&D Audit. Because the R&D tax credit is an area of tax law that has various interpretations, it is a difficult area for the IRS to audit. Navigating an audit can be complicated, so understanding the main areas at issue, taxpayer positions, versus IRS positions can help prepare you for the audit. This CPE will outline the IRS’s position and the taxpayer arguments. The course covers:
- Current audit landscape
- Percentage of audits and sustention rates
- What to expect during an audit
- Most contentious items
- What the IRS looks for and typically examines
- Case studies
- R&E roundtable
CS101 – New Regulations (TD 9636) (Repairs & Dispositions). We prepared this advanced continuing education program to help our CPA partners understand the effect of the New Regulations on their clients that own Real Property. This CPE session covers:
- New Regulations (TD 9636) (Repairs & Dispositions)
- Routine Maintenance Safe Harbors
- Guidance regarding deduction and capitalization of expenditures related to tangible property
- What is the effect on cost segregation methodologies?
- What is a unit of property?
- Determining the appropriate asset to dispose
- Accounting for the disposed asset
CS102 - Court Cases Affecting Cost Segregation. In light of recent court cases involving cost segregation, we prepared this advanced continuing education program to help our CPA partners understand the outcome of these cases and how the rulings may impact cost segregation going forward. This CPE session covers:
- Ronald Pearce and Daryl Pearce v. Dept. of Revenue State of Oregon -- Plaintiffs utilized a “rule of thumb approach” and failed to adequately substantiate their costs, losing all deductions.
- Peco Foods, Inc. & Subsidiaries v. Commissioner of Internal Revenue -- The tax court upheld the decision of the IRS precluding Peco Foods from using a cost segregation study to modify the purchase price agreement of two processing plants it purchased.
- Amerisouth XXXII, LTD v. Commissioner of Internal Revenue -- The tax court recently upheld most of the positions taken by the IRS in their audit of cost segregation analysis completed on apartment buildings.
- PPL Corp. v. Commissioner -- The tax court’s decision allows for the use of the Whiteco Criteria to be applied to site improvements allowing for certain site improvements to now be treated as §1245 property with a 5 or 7 year life.
CS103 – Understanding Cost Segregation. The benefits of a cost segregation study include an immediate increase in cash flow, a reduction in current tax liability, the deferral of taxes, and the ability to reclaim “missed” depreciation deductions from prior years without having to amend tax returns. This CPE session covers:
- What cost segregation is and how it works
- Approaches to Cost Segregation
- Allocating Indirect Costs
- The impact cost segregation has on a tax return
- IRS code changes:
- Bonus depreciation
- 179 expensing
- Qualified leasehold improvements
- Qualified restaurant and retail property
CS104 – Defending a Cost Segregation Audit. The audit review process, once typically easily sustained, now faces new challenges based on the outcome of the court cases discussed in the CS 102 course. We prepared the CS 104 continuing education program to outline how to successfully defend a cost segregation audit. This session covers:
- Case studies outlining the IRS’s position and the Respondent’s position
- Important documentation needed to defend an audit
- Property classifications that are commonly selected for audit
With inflation and rising inventory costs, LIFO can help your clients lower ending inventory value, increase current year COGS and reduce taxable income. LIFO is the single biggest tax reduction idea related to inventory. Using a regulation-driven LIFO method such as IPIC, which ties inventory inflation to external indices, businesses can maximize the available tax deduction when implementing LIFO or converting from an existing internal LIFO method. This session provides a big picture overview of LIFO accounting and will educate your staff on the benefits provided to your clients.