Comprehensive Preparation for the Taxation Section of the CPA Exam

Introduction

Becoming a Certified Public Accountant (CPA) requires passing a rigorous exam that tests candidates on various aspects of taxation, financial reporting, and business regulations. The taxation section of the CPA exam is one of the most challenging, covering federal, state, and local tax laws, tax compliance, tax planning, and ethics.

This 5-day CPA Taxation Review Course is designed to help CPA candidates master key tax concepts, improve test-taking strategies, and gain the confidence needed to pass the taxation section of the CPA exam. Through in-depth discussions, problem-solving exercises, and mock exams, participants will be fully prepared for success.

Course Objectives

By the end of this course, participants will be able to:

• Understand the key topics tested on the CPA exam taxation section.
• Apply tax laws and regulations to individual and business taxation scenarios.
• Master tax compliance, reporting, and planning strategies.
• Analyze tax implications for different business structures.
• Strengthen problem-solving skills through CPA-style tax questions.
• Develop effective test-taking techniques to maximize performance.

Who Should Attend?

This course is ideal for individuals preparing for the CPA exam, including:

• CPA candidates focusing on the taxation section.
• Accounting and finance professionals seeking CPA certification.
• Tax professionals looking to refresh and deepen their tax knowledge.
• Recent accounting graduates preparing for the CPA exam.

Course Outline

Day 1: Introduction to CPA Taxation & Individual Taxation

• Overview of the CPA exam format, scoring, and time management strategies.
• Understanding the IRS tax system, filing statuses, and dependents.
• Taxable vs. non-taxable income sources.
• Adjustments to income and tax deductions.
• Tax credits (Child Tax Credit, Earned Income Credit, Education Credits).
• Individual Alternative Minimum Tax (AMT).

Workshop: Solving individual tax problems and CPA-style multiple-choice questions.

Day 2: Business Taxation – Entities & Compliance

• Taxation of business entities: Sole proprietorships, partnerships, C-Corps, and S-Corps.
• Corporate tax rates and deductions.
• Pass-through entity taxation and Qualified Business Income (QBI) deduction.
• Corporate Alternative Minimum Tax (AMT) and its impact.
• Filing requirements and tax return deadlines for businesses.
• Special tax provisions for small businesses and start-ups.

Case Study: Selecting the optimal tax structure for a new business.

Day 3: Taxation of Property Transactions & Investments

• Capital gains and losses.
• Depreciation methods (MACRS, Section 179, Bonus Depreciation).
• Tax treatment of like-kind exchanges (1031 exchanges).
• Investment income taxation: Dividends, interest, and rental income.
• Tax implications of passive activity losses.
• Special real estate tax considerations, including home sale exclusions.

Workshop: Analyzing property sale transactions and depreciation schedules.

Day 4: Tax-Exempt Organizations, Gift & Estate Tax, and Tax Ethics

• Formation and tax reporting for non-profits.
• Unrelated business income tax (UBIT).
• Estate and gift tax: Lifetime exemption, annual exclusions, and tax calculations.
• Taxpayer representation and IRS audits.
• Circular 230: Professional ethics and responsibilities for CPAs.
• Common tax penalties and fraud prevention.

Expert Panel Discussion: Understanding CPA ethics and responsibilities in tax practice.

Day 5: Final Review, Exam Strategies, and Mock Test

• Review of frequently tested CPA taxation topics.
• Key tax law updates relevant to the exam.
• Multiple-choice question strategies: Eliminating incorrect answers.
• Simulated CPA taxation exam (MCQs + Task-Based Simulations).
• Post-exam review and performance analysis.

Final Capstone Exercise: Full-length taxation mock exam with personalized feedback.

Conclusion & Certification

Participants who successfully complete the course will receive a Certificate of Completion in CPA Taxation Review, demonstrating their readiness for the taxation section of the CPA exam.

Program Benefits

• Expert-Led Review – Instruction from CPA professionals and tax experts.
• Targeted Learning – Focus on high-yield CPA exam topics.
• Hands-On Practice – Mock exams, case studies, and problem-solving exercises.
• Time Management Strategies – Learn how to maximize your exam performance.
• Career Advancement – Strengthen CPA credentials and tax expertise.

Career Opportunities After CPA Certification

• Tax Accountant – Preparing and filing individual and business tax returns.
• Corporate Tax Manager – Overseeing tax strategy for businesses.
• IRS Enrolled Agent (EA) – Representing clients in tax matters.
• Public Accounting Consultant – Advising on tax compliance and planning.
• Forensic Accountant – Investigating tax fraud and disputes.