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20WS-0688: Surgent's Preparing C Corporation Tax Returns for New Staff and Paraprofessionals (Webinar)

Date Monday, September 21, 2020
Time 8:00am - 4:00pm
Central Time
Location Online
CPE credits CPE 8.0
Field(s)
of study
Taxes - Technical (8.0)
Specialty
credits
8.0 IRS CE approved
Instructor Dennis Benvie, MS, CPA
Surgent
Fees
Standard Member Fee $259.00
Standard Nonmember Fee $259.00

Online registration has closed. Please call 952-831-2707 to register.

Description

This course is a great foundation to introduce new preparers to tax rules related to business returns. The course provides new staff coverage of tax areas affecting all business entities, providing staff training which they may carry to other business entity returns. Such business tax topics include the sale of assets used in any trade or business (Form 4797), depreciation (Form 4562), deductible vs. non-deductible items, and the basics of uniform capitalization. The objective of this course is to train new staff accountants, data processing employees, Paraprofessionals, and bookkeepers to prepare a complicated federal corporate income tax return. It is a hands-on, practical course in filling out most tax forms, with extra emphasis on form changes due to new tax law.

Who should take this program?

New staff and Paraprofessionals involved in return preparation

Major subjects

  • Preparation by hand of a reasonably complicated Form 1120 U.S. corporate income tax return from trial balance to completed return
  • The importance of Schedule M-1, including many adjustments in reconciling book income to tax income, and items preparation staff may look for on all business returns
  • New tax-planning strategies for depreciation deductions, including changes to Section 179 and depreciation as a result of new tax legislation
  • Methods of accounting -- Application and choices
  • In-depth analysis of Form 4797 dealing with depreciation recapture
  • Deductible expenses -- including rules on meals and entertainment
  • Computation of tax liability
  • Overview of many common business deductions; which are deductible and which are M-1 items?
  • How to practically handle uniform capitalization and inventory accounting for a small manufacturing concern
  • And much more

Learning objective(s)

  • Develop an understanding of basic preparation principles which affect all business entities
  • Learn in detail about the preparation of a Form 1120, and Schedule M-1
  • Understand the proper treatment of trial balance entries into Form 1120

Notes:

Course code Code 20WS-0688
Sponsor Surgent
NASBA ID#: 103212
Level Basic
Format Group Internet Based
Prerequisites Prereq. None
Advance
prep
None

Online registration has closed. Please call 952-831-2707 to register.