- Preparation of various Form 1040 individual tax returns and schedules; provided answers include "filled-in" forms
- Updated credit information as amended by the Consolidated Appropriations Act of 2020 and American Rescue Plan Act of 2021
- Coverage of §199A qualified business income, its calculation, limitations, and examples
- 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
- Charitable contributions substituting for taxes, IRS says – No!
- 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
New staff and para-professionals who prepare individual returns
To train new staff accountants, data processing employees, para-professionals, and bookkeepers to prepare a moderately complex federal individual income tax return.
- This course is also available to attend in person at the ISCPA Enrichment Center in West Des Moines. Register for in-person attendance HERE.
- This seminar has been approved for 8 hours of IRS CE credit for Enrolled Agents (EA) and Registered Tax Return Preparers (RTRP) with PTIN numbers. Please complete and return the request form PRIOR to the seminar if you are an EA or RTRP and would like to receive IRS CE credit.
John N. Sherrick is a partner of Sitrick & Associates, LLC in Bettendorf, Iowa. He prepares tax returns and financial statements for closely held companies and their owners. He also provides a variety of income tax, retirement, and estate-tax planning services for his clients. He also serves as an expert witness for business valuations and other tax and accounting issues. He is also a discussion leader for continuing education courses in the tax arena on a national level. John was recognized by the NCACPA as an Outstanding Seminar Speaker for 2013, and he is also the recipient of the 2011 James L. McCoy Discussion Leader of the Year Award as well as a Surgent Outstanding Discussion Leader Award. John has over 45 years of experience in public accounting with local firms. His experience includes a wide variety of tax and accounting issues for small businesses in a number of industries. He also has had experience in auditing and taxation of not-for-profit organizations on the local and national level. Sherrick received his Bachelor’s degree in Economics and Business Administration from Knox College in Galesburg, Illinois. He then received his Master’s degree in Accounting from the University of Iowa, in Iowa City, Iowa. He is licensed in both Iowa and Illinois and is a member of the Iowa Society of CPAs and the Illinois CPA Society.
Non-Member Price $395.00
Member Price $295.00