22SR-0041: Preparing Individual Tax Returns for New Staff and Paraprofessionals (In-person)
If you have questions about this event, please call us at 952-831-2707.
Wednesday, January 18, 2023
8:30am - 4:30pm Central Time
8 CPE (8 technical) | 8 IRS CE
Minnesota Society of CPAs, Bloomington
After this in-depth course, new staff accountants, data processing employees, paraprofessionals and bookkeepers will be able to prepare a complicated federal individual income tax return. Gain practical, hands-on experience with individual tax forms and dive into the latest tax law changes affecting individuals.
Major subjects
-
Coverage of the Inflation Reduction Act of 2022
-
Preparation of various Form 1040 individual tax returns and schedules, complete with filled-in forms
-
Taking initiative in difficult assignments
-
Section 199A qualified business income -- calculation, limitations and examples
-
Form 8867
-
Dividends and interest -- ordinary, return of capital and capital gain distribution dividends
-
Tax-exempt interest
-
Security transactions -- Form 1099-B, Form 8949, Schedule D, mutual fund sales and related basis issues
-
Self-employed person issues
-
Schedule C deductions, including depreciation
-
Sale and exchange of property -- Form 4797, depreciation recapture and capital gains
-
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 qualifies and what doesn't
-
Interest deductions -- limitations and timing problems
-
Retirement contributions, education credits and deductions
-
Tax computations -- the Kiddie Tax, AMT, regular tax and tax credits
-
Form preparation problems and practice tips
-
Impact of recent legislation and forms changes on Form 1040
Learning objective(s)
-
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
Who should take this program?
New staff and paraprofessionals who prepare individual returns
Fees
Our records indicate
you are a
nonmember.
If you register, you will be charged
$399.00
(Standard Nonmember Fee).
Members: Please
log in
to receive member fee.
|
Standard Member Fee |
$349.00
|
 Standard Nonmember Fee |
$399.00
|
