This practical, hands-on program is designed for tax professionals with limited tax experience and knowledge. This course provides learning opportunities surrounding common individual and corporate tax topics that they may encounter. The course is designed to provide information on the tax rules and to challenge the participants to complete case studies and exercises where participants apply the rules and complete actual tax forms.MAJOR TOPICS:
INDIVIDUAL TAX- Filing status; personal exemptions; income including wages and salaries, interest and dividend income, pension and retirement income, securities transactions, and other income items; adjustments to income; itemized deductions including standard deduction, medical expenses, deductible taxes, interest expense, charitable contributions, other itemized deductions; credits, payments and other topics including personal credits, tax payments, and filing returns; key individual tax provisions of the Tax Cuts and Jobs Act.
SOLE PROPRIETORSHIPS- Schedule C; tax accounting methods; depreciation and self-employment tax; new Code Sec. 199A and the deduction for qualified business income.
RENTAL PROPERTY- Schedule E and passive activities.
CORPORATIONS- S Corporations; Limited Liability Companies; preparing a corporate tax return; book to tax reconciliations (M-1 and M-3); new Code Sec 199A’s impact on the owners of pass-through entities.
THE ROLE OF THE STAFF ACCOUNTANT- Understanding the role of a staff accountant in an accounting firm; workpaper preparation techniques, and performing a self-review.
COURSE LENGTH: Three Days
To learn more please call 800-775-9866.