Preparing Individual Tax Returns for New Staff and Para-Professionals

The start date for this course has passed. Registration is no longer available.

This course is 8.00 credits
Facility Name
Sheraton Framingham
Facility Address
1657 Worcester Rd
Framingham, MA 01701-5403
Field of Study
Course Level
Surgent McCoy CPE LLC

Registration Fees

MSCPA Member
AICPA Member
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Monday, Jan 8, 2018
8:45am – 4:30pm

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.

This seminar qualifies for the Workforce Training Express Fund program. The course code for this program is 1113012
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Designed For

New staff and para-professionals who prepare individual returns

Course Objectives

 Grasp complicated issues of filing status/dependency exemptions  Know about taxable/tax-exempt interest issues & dividend income  Understand issues with reporting capital gains transactions  Complete a comprehensive problem related to Schedule C of the Form 1040 and also one related to Form 4797  Apply knowledge gained from an overview of passive activity rules  Complete a comprehensive problem related to Schedule A  Explain IRA contributions, Self-employed retirement plans, childcare credits, and the adoption tax credit  Complete a comprehensive problem related to computation of an individual's federal income-tax liability

Major Subjects

 Preparation of various Form 1040 individual tax returns and schedules; provided answers include "filled-in" forms  Tax filing status - Rules for filing status and planning opportunities and pitfalls  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  How the Affordable Care Act affects tax returns  Self-employed person issues  Sale and exchange of property - Understanding Form 4797 and depreciation recapture; capital gains  Schedule C deductions  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  Impact of recent legislation and forms changes on the 1040

The start date for this course has passed. Registration is no longer available.