Course ID: TSTB

Tax Staff Training – Business

Designed as practical “next-step” training for the accountant who has one or two tax seasons’ experience and is expected to accept additional responsibility and work on more complex assignments, this course introduces the participant to business income tax returns and tax issues commonly encountered in operating businesses. Case study shows participant how to summarize and organize information from trial balance, make entries required for tax reporting and actually prepare tax returns. Participants will also be introduced to tax practice ethics (Circular 230), basic tax research techniques, and common sources of authority for tax return positions.


LEARNING OBJECTIVES
  • Apply working knowledge of tax matters encountered by intermediate level staff accountants in the local/regional CPA firm
  • Deal with more complex tax returns of all types
  • Document your research and answer client tax questions
  • Efficiently prepare Forms 1065, 1120S, and 1120
  • Recognize tax planning concepts and develop efficient tax research techniques
  • Prepare accounting method change notices for new “Repair Regulations”
  • Comply with Treasury Circular 230 ethical standards for return preparers

MAJOR TOPICS
  • Getting from trial balance to tax return
  • Tax characteristics of S corporations, C corporations, Partnerships, and LLCs
  • Tax considerations in organizing any of those types of entities
  • “Back to Back” loan rules for S corporations
  • Corporate earnings and profits
  • S shareholder basis and AAA
  • Partner basis vs capital account
  • Intermediate level tax practice case studies
  • Return review procedures
  • Documentation of working files
  • Introduction to Treasury Circular 230

DESIGNED FOR
Accountants with one or more years of tax experience who anticipate additional tax compliance and planning responsibilities

FIELD OF STUDY
Taxes

PREREQUISITES
None

COURSE PRODUCER
Nichols Patrick CPE, Inc

CPE CREDITS
16.0

LEVEL
Intermediate

This course is avaliable for your group as:

Group Live
 

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