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Preparing Individual Tax Returns for New Staff and Para-Professionals (PITR)
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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.

10/20/2015
When: 10/20/2015
7:00 AM - 3:00 PM
Where: Webcast/Webinar
Presenter: Dennis Benvie, MS, CPA
Contact: April Deneault
801-834-6634

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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.
 

Objectives:

* Learn complicated issues of filing status and dependency exemptions * Learn about taxable/tax-exempt interest issues and 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 * Overview of passive activity rules * Complete a comprehensive problem related to Schedule A * Learn about IRA contributions, Self-employed retirement plans, child-care 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


Designed For:

New staff and para-professionals who prepare individual returns

Prerequisite: None

Advanced Prep: None

 

Speaker: Dennis Benvie, MS, CPA

Vendor: Surgent McCoy

Field of Study: Taxes (8)

Level: Basic

CPE Credit: 8 Hours

Acronym: PITR

 

Registration Fees:

$219

  

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