Surgent's Preparing Individual Tax Returns for New Staff and Paraprofessionals (Webinar)

Code: WSPITR07

Date Wednesday, February 5, 2020
Time 8:00 AM - 4:00 PM
Central Time
Location Online
CPE credits CPE 8.0
Specialty
credits
8.0 IRS CE approved
Field(s)
of study
Taxes - Technical (8.0)
Instructor Dennis Benvie, MS, CPA
Surgent
Fees
Standard member fee $239.00
checkmarkStandard nonmember fee $239.00

Members: Please log in to receive member fee.

Description

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.

Who should take this program?

New staff and para-professionals who prepare individual returns

Major subjects

  • 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 Section 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 computations -- The Kiddie Tax, AMT, regular tax, tax credits
  • Individual problems illustrated by form preparation for various items, with numerous "practice tips"
  • Impact of recent legislation and forms changes on the 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

Notes:

Course code Code WSPITR07
Sponsor Surgent
NASBA ID#: 103212
Level Basic
Format Group Internet Based
Prerequisites Prereq. None
Advance
prep
None