A8FPT-T-00110-26-O (1-HR IRS CE)
Practice Management-Scheduling Tax Prep
with speaker Brenda S. Cannon, CPA
Date of Program May 7, 2026 12:00 PM
Program Description:
This course examines a practical workflow model for tax firms that replaces broad drop-off deadlines with scheduled document delivery dates. Using a real firm implementation example, participants will evaluate how scheduled tax preparation can improve capacity planning, reduce compressed workload, support healthier staffing patterns, improve client communication, and create more predictable turnaround times. Accounting professionals will gain practical insight into calendar design, client messaging, internal procedures, handling extensions, and managing exceptions when implementing a more controlled tax-season process.
LEARNING OBJECTIVES
After completing this course, participants will be able to:
- Identify operational problems caused by traditional drop-off deadlines and compressed seasonal workflow.
- Evaluate the key implementation steps needed to transition a tax firm to a scheduled tax preparation model.
- Recognize client communication practices that support adoption of scheduled tax preparation and extension management.
- Assess internal workflow strategies for handling capacity limits, missing information, and exception cases within a scheduled process.
A8FPT-T-00111-26-O (1-HR IRS CE)
Reviewing Operating Agreements for Partnership & S Corp Tax Issues
with Roger Ledbetter, CPA
Date of Program May 14, 2026 12:00PM
Program Description:
This course addresses how accounting and tax professionals can review operating agreements to identify provisions that affect partnership allocations, preferred returns, guaranteed payments, minimum gain, tax elections, unreimbursed partnership expenses, and S corporation eligibility. Using practical examples from real estate, syndication, and pass-through entity work, the session shows why operating agreement review matters during onboarding, tax return preparation, and tax planning. Participants will gain a practical framework for spotting high-risk language, understanding how agreement terms flow through to the tax return, and recognizing when legal revisions may be necessary.
LEARNING OBJECTIVES
After completing this course, participants will be able to:
- Identify key operating agreement terms that commonly affect partnership and S corporation tax reporting.
- Differentiate between safe harbor and target capital allocation methods and their effect on income and loss allocations.
- Recognize operating agreement provisions that may create tax reporting issues involving preferred returns, guaranteed payments, minimum gain, and mandated tax elections.
- Assess S corporation operating agreement language for provisions that may create an invalid second class of stock or other eligibility concerns.
- Evaluate when operating agreement language should be escalated for amendment or attorney review based on potential tax consequences.
A8FPT-T-00112-26-O (1-HR IRS CE)
Sch E Rental Properties: Navigating Complex & Unique Situations
with James P Upton, III Enrolled Agent/Accountant
Date of Program May 21, 2026 12:00 PM
Course description:
This one-hour continuing education program provides an in-depth examination of complex and often misunderstood Schedule E rental property reporting situations. Designed for Enrolled Agents and other tax professionals, this course moves beyond basic rental reporting to address the nuanced scenarios that create the greatest compliance risk and planning opportunities for clients.
Participants will explore the short-term rental loophole under IRC §469 and the regulations governing average rental periods of seven days or less, including how material participation can convert otherwise passive rental losses into nonpassive deductions. The program addresses critical depreciation considerations including placed-in-service rules, cost segregation studies, bonus depreciation phase-down implications, and the Section 179 limitation for rental activities.
The course also examines change-in-use scenarios—converting a personal residence to rental property and vice versa—with emphasis on adjusted basis calculations, suspended loss recognition, and the interplay with the Section 121 exclusion. Participants will learn the rules for allocating expenses when only a portion of a home is rented, including shared-space situations such as renting a room or accessory dwelling unit (ADU).
Finally, the program provides a comprehensive framework for determining when rental income should be reported on Schedule E as passive activity versus Schedule C as an active trade or business, with particular focus on the substantial services test, material participation standards under Temp. Reg. §1.469-5T, and real estate professional status under IRC §469(c)(7).
Learning Objectives:
Upon completion of this program, participants will be able to:
- Identify the conditions under which a short-term rental activity is excluded from the passive activity rental definition under IRC §469(j)(8) and Temp. Reg. §1.469-1T(e)(3)(ii), and explain how material participation can unlock nonpassive loss treatment.
- Determine the correct depreciable basis and recovery period for residential rental property, evaluate when a cost segregation study is appropriate, and apply current bonus depreciation phase-down percentages to short-lived asset components.
- Calculate the adjusted basis of a personal residence converted to rental property, apply the lower-of-cost-or-FMV rule at the date of conversion, and recognize suspended passive losses upon disposition.
- Apply the expense allocation rules for a dwelling unit that is partially rented, including the IRS method versus the Tax Court method for mortgage interest and real estate tax allocation, and determine when the vacation home rules under IRC §280A apply.
- Distinguish between rental activities reported on Schedule E and those requiring Schedule C reporting based on the substantial services test, average rental period, and the taxpayer’s level of involvement in the activity.
- Apply the material participation tests and real estate professional status requirements to determine the passive or nonpassive character of rental income and losses for individual taxpayers.
