Welcome to DrakeCPE! We offer a wide variety of continuing education courses for tax pros. Stay up to date with recent tax law and learn about new topics.

Cannabis and Taxes

Cannabis and Taxes

Area: Federal Tax Law

Description: NEW!

In recent years there has been an uptick in state legalization of cannabis for recreational purposes, with states gaining millions and in some cases billions of tax revenues from the sale of cannabis. While income from illegal cannabis sales is reportable for federal income tax purposes, there are various intricacies that come into play with expense deductions. These same intricacies exist at the state level. This course explores the various tax implications and also explores some of the controversies regarding expense deductions.

Last Revision: February 2024

$16 1 CPE Full Description

Community Property

Community Property

Area: Federal Tax Law

Description: NEW!

What is community property? Why is identifying community property important when preparing tax returns? This self-study course is a detailed discussion of the connection between community property and federal tax law. Revision Date: September 2023

$16 1 CPE Full Description

Employee Retention Tax Credit: From the Cares Act to the IRS Moratorium

Employee Retention Tax Credit: From the Cares Act to the IRS Moratorium

Area: Federal Tax Law

Description: NEW!

Why does the Employee Retention Tax Credit still matter? Two reasons. First, it has been a popular credit that still has implications for employers and taxpayers. Second? Ongoing scams and fraud, and the resulting IRS moratorium. This course provides an overview of the Employee Retention Tax Credit, and provides specific information on IRS efforts to stem the rise of fraud associated with the credit, including imposing a moratorium on ERTC claims, announcing settlement and withdrawal procedures, and the providing educational material on the credit.

Last Revision: October 2023

$16 1 CPE Full Description

Fundamentals of Preparing Form 1065 - Partnerships

Fundamentals of Preparing Form 1065 - Partnerships

Area: Federal Tax Law

Description: NEW!

The rules for partnerships are complex and taxpayers and practitioners must plan carefully to avoid potential pitfalls, both for the partnership and for the individual partners. Partnerships must report income and expenses annually on Form 1065 and related forms. This course provides an overview of Form 1065 and the rules for partnerships.

Last Revision: December 2023

$32 2 CPE Full Description

Fundamentals of Preparing Form 1120 - Corporations

Fundamentals of Preparing Form 1120 - Corporations

Area: Federal Tax Law

Description: NEW!

How does the IRS define a corporation? What should tax professionals know about Form 1120? This course covers basic definitions and terms regarding corporations, the tax implications of corporate structures, and how to prepare Form 1120 and related forms.

Last Revision: January 2024

$32 2 CPE Full Description

Fundamentals of Preparing Form 1120-S - S Corporations

Fundamentals of Preparing Form 1120-S - S Corporations

Area: Federal Tax Law

Description: NEW!

What makes an S Corp different from other business structures? What are the tax implications and what should tax preparers know about Form 1120? This course covers basic definitions and terms regarding S corporations and how to prepare Form 1120-S and related forms.

Last Revision: January 2024

$32 2 CPE Full Description

Fundamentals of Schedules K-2 and K-3

Fundamentals of Schedules K-2 and K-3

Area: Federal Tax Law

Description: NEW!

The IRS recently separated Schedule K and Schedule K-1 into Schedules K-2 and K-3. The purpose is to help provide partners and shareholders better information for their reporting of international items of relevance due to the changes the Tax Cuts and Jobs Act (TCJA), specifically the changes made relating to the reporting of international tax items. This course explores the changes the IRS made with the creation of Schedules K-2 and K-3, along with information that is reportable on the new schedules.

Last Revision: September 2023

$32 2 CPE Full Description

Fundamentals of Tax Forms 1099-C, A, and K

Fundamentals of Tax Forms 1099-C, A, and K

Area: Federal Tax Law

Description: NEW!

Cancellation of debt? Abandonment of property? Third-party transactions? These can be complex issues and each of them can affect the others. What do you and your clients need to know about proper reporting for IRS Tax Forms 1099-C, A, and K? In this webinar, we bring these complex topics down to earth. We’ll help you know when each form is needed and how it is used.

Last Revision: October 2023

$32 2 CPE Full Description

SECURE Act 2.0 – The Full Picture

SECURE Act 2.0 – The Full Picture

Area: Federal Tax Law

Description: NEW!

The SECURE Act 2.0 contains a wide range of provisions that become effective over several years designed to encourage retirement savings, help ensure the sufficiency of retirement funds, bring additional clarity and transparency to retirement plan rules, and increase federal revenue. This course will discuss the various provisions of the Act, beginning with those provisions that are immediately effective and followed by those that become effective in subsequent years. Appropriate context is added to facilitate understanding of the pre-enactment environment and the impact of the legislative changes. Revision Date: December 2023

$64 4 CPE Full Description

Unpaid Payroll Taxes: A Timebomb You Can Defuse

Unpaid Payroll Taxes: A Timebomb You Can Defuse

Area: Federal Tax Law

Description: NEW!

In this webinar, a retired IRS Criminal Investigation agent shares his insider perspective on the issue of unpaid payroll taxes and the serious implications it can have for your clients. We discuss the statutes guiding the collection of payroll taxes, the possible penalties for unpaid payroll taxes, and how you can help your clients resolve the issues.

Last Revision: February 2024

$32 2 CPE Full Description

2023 Tax Update – The New Rules

2023 Tax Update – The New Rules

Area: Tax Update

Description: Learn about the latest tax changes and updates for the 2023 Tax Year. Our focus will be on recent legislation and the impacts the changes have on you and your clients. This course will bring you up-to-date on the 2023 facts and legislative changes that impact clients; provide you with 2023 tables of the Tax Rates; and highlight useful “tax facts” and other important material.

Last Revision: May 2023

$32 2 CPE Full Description

Amended Returns

Amended Returns

Area: Federal Tax Law

Description: Now and then you get a second chance. What should tax preparers know about amended returns? How can preparers help filers make this second chance count? This course will be a detailed look at the topic, including a line-by-line review of the form that is used to file amended returns and an analysis of examples and case studies. Revision Date: April 2023
$16 1 CPE Full Description