Staff Tax Training: Individuals (Form 1040) (4091468C)

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This comprehensive training course is the first in a three-part series designed to get the inexperienced accountant up to speed quickly in all areas of individual income taxation. The cornerstone of this course is the integration of the most recent tax laws and theories to real-world case scenarios through the preparation or review of the IRS tax forms and practice aids.

Date:	Monday, November 02, 2009 - Wednesday, November 04, 2009
Time:	8:30 AM - 4:30 PM (Registration at 7:30 AM)
Facility:	Biltmore Hotel, Santa Clara
Area:	San Jose Area
CPE Credit:	24.0 CPE (Continuing Professional Education) 24.0 CTEC Federal Hours 24.0 Enrolled Agents
Developer:	Garverick CPE LLC
NASBA Subject Area:	Taxes
Delivery:	Group Live
Course Level:	Beginning
Fee:	$945 CalCPA Members, $1,245 Nonmembers
Coupon Fee:	$159
VP Fee:	$159

Objectives:

Become familiar with the preparation issues related to the most common individual income tax returns.

Understand the information gathering process (i.e. asking the right questions).

Major Topics:

Extensive review of the individual tax laws with an emphasis on any new legislative changes
Form 1040--gross income items including wages, alimony, refunds, unemployment compensation, pension, IRAs, Social Security and other miscellaneous income items

Course highlights:

Comprehensive manual that can be used as a reference guide
Extensive review of the individual tax laws with an emphasis on any new legislative changes
Form 1040 - gross income items including wages, alimony, refunds, unemployment compensation, pension, IRAs, social security and other miscellaneous income items
Schedule B - interest and dividend income
Schedule C & F - trade or business income and deductions
Form 4562 - depreciation, amortization, and §179
Schedule D - sale or exchange of capital assets & personal residence sales
Form 4797 - sale of trade or business property including the ordinary income recapture rules under §1245 and §1250
Form 8824 - basic tax rules of like-kind exchanges
Schedule E - rental income & deductions, passive activities, & flow through entities
Adjustments to gross income including IRAs, SEPs, SIMPLEs, HSAs, tuition and fees, alimony paid, student loan interest & self-employed health insurance deduction
Schedule A - itemized deductions versus the standard deduction
Calculation of various taxes including income, capital gain, ordinary dividend, self-employment, household employee, early withdrawal penalties & alternative minimum tax (AMT)
Selected tax credits including the child tax credit, adoption credit, dependent care and education credits
Tax withholdings, excess FICA withheld & estimated payments needed to avoid the underpayment penalty

Designed for:

Tax return preparers, staff accountants and paraprofessionals with little or no experience (0-2 years of experience). Also, out-of-practice CPAs seeking a comprehensive basic individual income tax course.

Prerequisite:

None

Advanced Preparation:

None