PART IX: Practical Insights and Additional Resources

In this section

• Chapter 31: Complex Problem Dissections
  • Ethics, Professional Responsibilities, and Tax Procedures
    Delve into real-life ethical dilemmas, professional responsibilities, and key tax procedures that CPAs must navigate, including deep dives into Circular 230 and IRS controversies.
  • Advanced Individual Tax Compliance and Planning
    Comprehensive strategies for multi-year planning, capital loss carryovers, and AMT considerations, empowering CPA candidates with advanced individual tax compliance insights.
  • Entity Tax Compliance (C Corps, S Corps, Partnerships)
    Discover comprehensive insights into complex multi-entity tax compliance for C Corporations, S Corporations, and Partnerships, including consolidated returns, flow-through basis calculations, and special elections.
  • Entity Tax Planning (Formation, Liquidation, Restructuring)
    Explore key strategies and tax implications for entity formation, liquidation, and corporate restructuring, including hypothetical examples, buy-sell arrangements, and key code sections.
  • Property Transactions, Nontaxable Exchanges, Depreciation Recapture
    Explore in-depth tax treatments for real estate, vehicle trade-ins, casualty losses, and depreciation recapture. Understand nontaxable exchanges (Sections 1031 & 1033), gain and loss computations, and recapture concerns for different property types.
• Chapter 32: Additional Sources for Reference and Practice
  • Key Publications (IRC, Treasury Regulations, Rulings)
    Explore the key authoritative tax materials—Internal Revenue Code, Treasury Regulations, and IRS rulings—and learn how to use them effectively for compliant and strategic tax practice.
  • Technical Research Tools and Techniques
    Discover advanced tax research strategies, gain proficiency in using citators, and navigate online subscription platforms effectively to excel in complex CPA Examination queries.
  • Technology Applications for Tax Research and Practice
    Explore the essential software tools and modern solutions for e-filing, data analysis, and workflow management in professional tax practice.
  • Future Trends and Legislative Changes in Taxation and Regulation
    Explore upcoming changes in federal taxation, regulatory reforms, and emerging industry trends that shape the CPA profession. Stay ahead of the curve with guidance on analyzing legislative proposals, adopting new technologies, and maintaining compliance in a dynamic environment.