CPE Course Preparing Individual Tax Returns for New Staff and Para-Professionals
January 7, 2019
8:30am — 4:15pm
Field of Interest Taxation (General)
New staff and para-professionals who prepare individual returns
The objective of this course is to train new staff accountants, data processing employees, para-professionals, and bookkeepers to prepare a complicated federal individual income tax return. Over the years, thousands of new staff have received practical, hands-on experience to become familiar with tax forms. This course covers the latest tax law changes, making it essential for your new staff.
* Learn complicated issues of filing status and dependency exemptions
* Learn about Schedules A, B, C, D, E, and SE; Forms 2106, 4797, and 4562; passive rules and more
* Complete comprehensive problems related to Schedules A, C, and D; Forms 2106, 4797, 6251, and more, all with "filled-in" forms
* Learn about IRA contributions, self-employed retirement plans, child-care credits, and the adoption tax credit
* Preparation of various Form 1040 individual tax returns and schedules; provided answers include “filled-in” forms
* Taking initiative in difficult assignments; can you deliver the QBI message? Full coverage of §199A qualified business income, its calculation, limitations, and examples
* Malodorous Form 8867 – Changes again this year!
* Dividends and interest – Ordinary, return of capital, and capital gain distribution dividends; tax-exempt interest, original issue discount, etc.
* Security transactions – From Form 1099-B to Form 8949 to Schedule D, plus mutual fund sales and related basis issues
* Self-employed person issues
* Schedule C deductions including depreciation
* Sale and exchange of property – Understanding Form 4797 and depreciation recapture; capital gains
* A working understanding of passive losses – How to handle rental property and how the passive loss rules flow to the tax forms
* Itemized deductions – A thorough understanding of what’s deductible and what’s not
* Interest deductions – Limitations and timing problems
* Retirement contributions and education credits and deductions
* Tax computation – The Kiddie Tax, AMT, regular tax, tax credits
* Individual problems illustrating form preparation for various items, with numerous "practice tips"
* Impact of recent legislation and forms changes on the 1040
Surgent McCoy CPE, LLC