{"id":70,"date":"2026-04-10T13:51:16","date_gmt":"2026-04-10T17:51:16","guid":{"rendered":"https:\/\/business.cornell.edu\/dyson\/?page_id=70"},"modified":"2026-06-25T16:25:23","modified_gmt":"2026-06-25T20:25:23","slug":"programs","status":"publish","type":"page","link":"https:\/\/business.cornell.edu\/dyson\/extension\/tax-school\/programs\/","title":{"rendered":"Tax school programs"},"content":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><head><\/head><body><div class=\"intro-text global-spacing--3x dotted-line-start\">\n  <div class=\"acf-innerblocks-container\">\n<p>Conferences are offered each October &amp; November across New York state. Instructors are from Cornell University, New York State Certified Public Accountants, Internal Revenue Service, and Agribusiness Professionals. Continuing Professional Education credits (CPE) are available to New York State Certified Public Accountants and Enrolled Agents.<\/p>\n\n<\/div>\n<\/div>\n<section class=\"two-column-accordions span--red background--white bg--clear\">\n    <div class=\"grid-container\">\n    <div class=\"grid-x grid-margin-x\">\n              <div class=\"cell medium-6\">\n          <div class=\"two-column-accordions--text text-margin-reset\">\n            <h2>Two-day income tax conference<\/h2>\n                          <div class=\"global-spacing--1x\">\n                <div class=\"wysiwyg\">\n                  <p class=\"intro-text\">Designed for experienced tax preparers, the two-day income tax conference allows participants to explore important aspects of small business and farm tax preparation. Participants receive the same reference book that over 37,000 tax professionals use in 37 other states. The conference covers a variety of topics from the reference book and emphasizes practical hands-on experience. <\/p>\n                <\/div>\n              <\/div>\n                      <\/div>\n        <\/div>\n\n        <div class=\"cell medium-6\">\n          <div class=\"accordion__set\">\n                                      <details class=\"expandable\" open>\n  <summary class=\"expandable__button\">\n    <span class=\"expandable__button-text\">\n    Topics covered\n    <\/span>\n  <\/summary>\n  <div class=\"expandable__content\">\n                      <ul>\n<li>Ethics<\/li>\n<li>Religious Organizations<\/li>\n<li>Trust and Estates<\/li>\n<li>Business Entity Tax Issues<\/li>\n<li>Installment Sales<\/li>\n<li>Retirement Tax Issues<\/li>\n<li>Tax Benefits for Homeowners<\/li>\n<li>Individual Tax Issues<\/li>\n<li>Business Tax Issues<\/li>\n<li>IRS Issues<\/li>\n<li>Agricultural and Natural Resource Tax Issues<\/li>\n<li>New and Expiring Legislation<\/li>\n<li>Rulings and Cases<\/li>\n<li>Tax Rates and Useful Tables<\/li>\n<\/ul>\n<p>Plus&nbsp;a New York State&nbsp;Income Tax Update<\/p>\n\n                  <\/div>\n<\/details>\n                      <\/div>\n        <\/div>\n          <\/div>\n  <\/div>\n<\/section>\n\n\n\n<h2 class=\"wp-block-heading\">Entity and specialty seminars<\/h2>\n\n\n\n<p>We have developed a number of entity and specialty seminars which are offered on a rotational basis. Past programs have included: agriculture and small business finance, estate and gift taxation, Limited Liability Company (LLC), Partnership, and Subchapter S Corporation taxation, as well a natural gas taxation primer for NYS landowners.<\/p>\n\n\n\n<p><strong>NOTE: We do not offer the annual Enrolled Agent (EA) Program.<\/strong><\/p>\n\n\n<section class=\"section-heading--wrap accordion--wrap span--red background--white bg--clear\">\n    <div class=\"section-heading__title\">\n    <h2>Past seminars<\/h2>\n  <\/div>\n\n  \n  <div class=\"section-heading__content\">\n    <div class=\"grid-container\">\n      <div class=\"accordion__set\">\n                          <details class=\"expandable\" open>\n  <summary class=\"expandable__button\">\n    <span class=\"expandable__button-text\">\n    Agriculture and small business finance\n    <\/span>\n  <\/summary>\n  <div class=\"expandable__content\">\n                  <p>This workshop provides an understanding of the similarities and differences between individual and fiduciary taxation and the mechanics of preparing a basic Form 1041. Special emphasis is given to the important interrelationship between trust and tax law for the proper completion of a fiduciary tax return.<\/p>\n<h4>Legal operation of estates and trusts<\/h4>\n<ul>\n<li>Identifying the different types of property ownership.<\/li>\n<li>Knowing how to create a trust and which type of trust is needed and its purpose.<\/li>\n<li>Knowing how an estate is created and its proper operation until final settlement.<\/li>\n<\/ul>\n<h4>Fiduciary accounting<\/h4>\n<p>Fiduciary accounting&rsquo;s purpose is to &ldquo;provide essential and useful information in a meaningful form to the parties interested in the accounting process&rdquo;.<\/p>\n<ul>\n<li>Understanding the basics of fiduciary accounting and the difference between fiduciary accounting and financial accounting.<\/li>\n<li>Being able to apply fiduciary accounting to tax accounting and preparation of Form 1041.<\/li>\n<\/ul>\n<h4>Fiduciary taxation<\/h4>\n<p>Fiduciary taxation is a special area of taxation by the federal government.<\/p>\n<ul>\n<li>Study of the applicable code sections that apply to taxation of trusts and estates focusing on the similarities as well as differences between individual and fiduciary taxation.<\/li>\n<li>Computation of the adjusted total income for the estate or trust.<\/li>\n<\/ul>\n<h4>Income distribution and taxation of beneficiaries<\/h4>\n<ul>\n<li>Discussion of the differences between simple and complex trusts.<\/li>\n<li>Understanding and applying the division of Distributable Net Income as it applies to fiduciaries.<\/li>\n<li>Being able to determine the distribution deduction of income as well as the preparation of Schedule B, Form 1041 and the Schedule K-1 beneficiaries.<\/li>\n<\/ul>\n<h4>Alternative Minimum Tax<\/h4>\n<p>As with individuals, Alternative Minimum Tax (AMT) rules are complicated for estates and trusts.&nbsp; In certain cases AMT is calculated and must be paid by an estate or trust.<\/p>\n<ul>\n<li>Knowing when to apply the rules and how to complete the appropriate forms.<\/li>\n<\/ul>\n\n              <\/div>\n<\/details>\n                  <details class=\"expandable\">\n  <summary class=\"expandable__button\">\n    <span class=\"expandable__button-text\">\n    Estate and gift taxation\n    <\/span>\n  <\/summary>\n  <div class=\"expandable__content\">\n                  <p>Learn the rules concerning the computation of estate, gift, and generation skipping transfer taxes.<\/p>\n<ul>\n<li>Wealth transfer objectives<\/li>\n<\/ul>\n<h4><strong>Federal Gift Taxes<\/strong><\/h4>\n<ul>\n<li>Objectives<\/li>\n<li>Introduction<\/li>\n<li>Taxable gifts<\/li>\n<li>Computation of gift tax liability<\/li>\n<\/ul>\n<h4><strong>Federal Estate Tax<\/strong><\/h4>\n<ul>\n<li>Objectives<\/li>\n<li>Introduction<\/li>\n<li>Gross estate<\/li>\n<li>Estate tax deductions<\/li>\n<li>Taxable estate<\/li>\n<li>Estate tax credits<\/li>\n<\/ul>\n\n              <\/div>\n<\/details>\n                  <details class=\"expandable\">\n  <summary class=\"expandable__button\">\n    <span class=\"expandable__button-text\">\n    Limited Liability Corporation (LLC)\n    <\/span>\n  <\/summary>\n  <div class=\"expandable__content\">\n                  <p>This course covers the income tax consequences of sole proprietorships, partnerships, C corporations and S corporations. Continuing examples of a single-member LLC and a multiple-member LLC are used to illustrate the formation, operation, and termination of an entity.<\/p>\n<p>The tax consequences of taxing the single-member LLC as a disregarded entity, C corporation, or S corporation are compared to illustrate the differences among those business entities.<\/p>\n<p>The tax consequences of taxing a multiple-member LLC as a partnership, C corporation, or S corporation are also compared to illustrate the differences among those business entities.<\/p>\n<p>The discussion includes the consequences of contributing and distributing assets to the owners of the entity, the income tax effect of entity profits and losses, and the effect of those events on the entity&rsquo;s basis in its assets and the owners&rsquo; bases in their ownership interest.<\/p>\n<p>This is an intermediate level course. It is intended for tax practitioners who have small business clients. It will help those practitioners answer their clients&rsquo; questions about using business entities and prepare the income tax returns for those entities.<\/p>\n\n              <\/div>\n<\/details>\n                  <details class=\"expandable\">\n  <summary class=\"expandable__button\">\n    <span class=\"expandable__button-text\">\n    Partnership income taxation\n    <\/span>\n  <\/summary>\n  <div class=\"expandable__content\">\n                  <p>This workshop uses a case study approach to take the concepts of partnership taxation and apply them to the mechanics of partnership tax reporting on Form 1065. Topics include:<strong><br><\/strong><\/p>\n<ul>\n<li>Overview of partnership taxation and relevant updates<\/li>\n<li>The complexity of applying a hybrid of flow-through and entity concepts to various partnership transactions<\/li>\n<li>The need for tax basis capital accounts and the value of maintaining them on a market value basis<\/li>\n<li>Differences between profits, interests, and capital interests, and what this means for customers<\/li>\n<li>The differences between recourse and non-recourse debt and how to allocate appropriately<\/li>\n<li>The sale and redemption of a partnership interest and the differences between them<\/li>\n<li>The impact of I.R.C. 751 &ldquo;hot assets&rdquo; on the sale or redemption of a partnership interest<\/li>\n<li>Gifting of a partnership interest<\/li>\n<li>The death of a partner<\/li>\n<li>Distributions, guaranteed payments, and self-employment tax implications<\/li>\n<\/ul>\n\n              <\/div>\n<\/details>\n                  <details class=\"expandable\">\n  <summary class=\"expandable__button\">\n    <span class=\"expandable__button-text\">\n    Subchapter S Corporation\n    <\/span>\n  <\/summary>\n  <div class=\"expandable__content\">\n                  <p>Learn the rules of properly electing, operating, and reporting for a Subchapter S Corporation.<\/p>\n<p><strong>Where the S corporation stands<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none\" data-mce-style=\"list-style-type: none;\">\n<ul>\n<li>Comparison with unincorporated<\/li>\n<li>Comparison with C corporation<\/li>\n<li>Factors to compare:\n<ul>\n<li>Distributions<\/li>\n<li>Type of income (service, etc.)<\/li>\n<li>Self-employment tax<\/li>\n<li>Net Investment Income Tax<\/li>\n<li>Shareholder filing status<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Eligibility and election<\/li>\n<li>Shareholder basis<\/li>\n<li>Income and deductions of the corporation\n<ul>\n<li><strong>Accounting methods<\/strong><\/li>\n<li><strong>Depreciation and other property rules<\/strong><\/li>\n<li><strong>Business interest limit<\/strong><\/li>\n<\/ul>\n<\/li>\n<li>Income and deductions of the shareholder\n<ul>\n<li>Pass through<\/li>\n<li><strong>Compensation<\/strong><\/li>\n<li>Grouping activities (&ldquo;packing and cracking&rdquo;)\n<ul>\n<li>Net Investment Income<\/li>\n<li><strong>QBI deduction<\/strong><\/li>\n<li>Loss limits\n<ul>\n<li>Stock and debt basis<\/li>\n<li>Amount at risk<\/li>\n<li>Passive activity loss limits<\/li>\n<li><strong>Limitation on business loss<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Corporate level tax (brief)\n<ul>\n<li>Built-in gains<\/li>\n<li>Passive investment income<\/li>\n<\/ul>\n<\/li>\n<li>Termination of&nbsp; S Corporation status\n<ul>\n<li>Procedures<\/li>\n<li>Inadvertence<\/li>\n<li>After-effects<\/li>\n<\/ul>\n<\/li>\n<li>Case study for reporting<\/li>\n<\/ul>\n\n              <\/div>\n<\/details>\n                  <details class=\"expandable\">\n  <summary class=\"expandable__button\">\n    <span class=\"expandable__button-text\">\n    Natural gas taxation issues for NYS landowners\n    <\/span>\n  <\/summary>\n  <div class=\"expandable__content\">\n                  <p>This seminar introduces the income tax rules pertaining to landowners involved in leasing for natural gas drilling in New York State. It will provide a <strong>comprehensive<\/strong>&nbsp;background on the exploration, drilling and production processes, lease arrangements, and the current leasing situation for New York State landowners.<\/p>\n<p>Specific coverage includes:&nbsp; lease payments and pertinent lease clauses, depletion rules, royalty and working interests, miscellaneous income items, forced pooling, federal income tax legislation and regulations, application of AMT, special NYS tax issues, industry terminology, available research resources and suggested practices.<\/p>\n\n              <\/div>\n<\/details>\n              <\/div>\n    <\/div>\n  <\/div>\n<\/section>\n\n\n\n<p>For more information, contact us at <a href=\"mailto:taxschools@cornell.edu\">taxschools@cornell.edu<\/a><\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"<p>Entity and specialty seminars We have developed a number of entity and specialty seminars which are offered on a rotational basis. 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