This course has been updated to reflect current regulations—including FIN 48 and FSP FIN 48-3—and industry practices.

This is a new course that focuses on those topics in the American Recovery and Reinvestment Act of 2009 (ARRA) that appear applicable to the widest audience of taxpayers. In addition to the provisions mentioned above, the course will also discuss Making Work Pay credits, first-time homebuyer credit, Hope and American Opportunity tax credit, plug-in electric vehicle credit, residential energy property credit, and energy conservation and efficiency provisions.

The course has been updated to include SSARS 16, 17, and 18 and Interpretations through 30.

This course has been reviewed to reflect current tax law and regulations.

This course has been updated to reflect current regulations and industry practices.

This course has been updated to reflect current tax law and regulations.

This course has been reviewed to reflect current tax law and regulations.

Dreaming of financial security, wealth, and a comfortable retirement, we save money; buy stocks, bonds, and mutual funds; purchase and manage real estate; buy gold, silver, and other collectibles; start our own business or buy and operate franchises; and invest start-up capital in new business ventures. This desire leads some people to speculate. Another risk is becoming victims of con men who specialize in investment-related frauds. This course will cover the ever-expanding variety of investment fraud schemes with examples and case studies.

Mortgage defaults have been on the upswing, and we have heard several stories in the media about mortgage frauds and people who obtained mortgage loans for which they did not qualify. People who are having trouble meeting their mortgage payments have lost their homes and sometimes more due to foreclosure fraud. Check fraud is growing rapidly, and identity theft is no longer limited to the United States. This course covers an assortment of investment fraud schemes.

The course update includes changes in all examples to the current year, as well as recent Treasury pronouncements.

This course has been updated to reflect current tax law and regulations.

This revision incorporates recent changes in the economy as it impacts the oil patch as well as recent tax law changes.

Around the country, landowner royalties and lease bonuses are increasing as landowners become more informed and sophisticated. Rather than negotiating the historic one-eighth landowner royalty, some lessors are negotiating for one-sixth or one-quarter landowner royalty. The examples and problems in this course reflect this change. Learn about computing cost depletion in terms of dollars received, rather than barrels of oil produced. Cost depletion computed in this manner may allow a deduction on lease bonus and sublease bonus income received by the lessor and sublessor, respectively.

This course incorporates tax law changes made to IRC Section 167(h) by the Energy Tax Incentives Act of 2005 and modified by the Energy Independence Act of 2007 relating to geological and geophysical (G&G) costs. These changes will have a significant impact on determining the leasehold cost of an oil and gas property. Additional study and exam questions on G&G have been added to the course.

New mineral interest diagrams are included as well as some additional tables that identify economic characteristics of various mineral interests.

New percentage depletion problems are added illustrating the numerical calculations applicable to independent producers and royalty owners required by the barrel limitation rule and the 65% of taxable income of the taxpayer limitation rule.

Diagrams illustrating the related party rules used to determine independent producer status have been incorporated into the course as well as diagrams illustrating acceptable ownership of oil and gas producers by companies that market oil and gas products.

Older material on proven property transfers occurring before 1992 has been removed from the course.

This course integrates the specific tax laws enacted since 2001, including the Pension Protection Act of 2006 and the Heroes Earnings Assistance and Relief Tax Act of 2008, as well as Treasury interpretations.

This course focuses on the Statement on Standards for Valuation Services (SSVS) 1, Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset, developed by the American Institute of Certified Public Accountants. This statement became effective on January 1, 2008, and provides standards that must be followed by all CPAs involved in business valuation engagements. You will learn about the history of business valuation and the development of standards for these types of engagements. In order to better understand SSVS 1 and business valuations, the course will provide you with some of the essential definitions of value and the various approaches to valuation. Business valuation engagements have unique characteristics and risk. A CPA needs to ascertain what type of engagement is being performed, the data and analysis needed, and what approach to take in valuing a business. At the conclusion of the engagement, a report is issued, and this course describes the parts of the report for these engagements. The course will present this standard in an easy-to-understand manner and provides examples of when the standard applies.

This course has been updated to meet current regulations and industry practices.