Preparing Individual Tax Returns for New Staff and Para-Professionals (VALUE PRICED FOR TAX SEASON PREPARATION)

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PITR-DM  |  In Person Training  |  All Levels  |  Scheduled

Special Notes

  • IMPORTANT: ISCPA CPE course manuals are now all paperless. No printed copies will be distributed onsite. eMaterials will be available to download 5-7 days prior to the course in the My CPE Tracker section of the ISCPA website. Learn more here.
  • This program 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 program if you are an EA or RTRP and would like to receive IRS CE credit.

Curriculum

  • Taxation

Designed For

New staff and para-professionals who prepare individual returns

Objectives

To train new staff accountants, data processing employees, para-professionals and bookkeepers to prepare a complicated federal individual income tax return.

Highlights

  • Preparation of various Form 1040 individual tax returns and schedules; provided answers include “filled-in” forms
  • Taking initiative in difficult assignments; can you deliver the QBI message? Full coverage of §199A qualified business income, its calculation, limitations, and examples
  • Malodorous Form 8867 – Changes again this year!
  • 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
  • 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
Your Price: $260.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations. This price excludes the early-bird discount. Early-bird registration ended November 18, 2019.

Instructors

Don P. Cochran

Show Bio

Don Cochran is a solo practitioner in Apple Valley, Minnesota. His 30 years of practice has been focused primarily in the areas of small business legal and tax consulting, and individual tax, estate, and financial planning.

Don has practiced law in both Iowa and Minnesota, was a CPA with the Small and Emerging Business practice of then Big 8 accounting firm, Touche Ross, in Bloomington, Minnesota, and was the Vice President of Tax and CFO with various privately and publicly held companies. He also served as an advanced sales consultant with Securian Financial, Nationwide Financial, and Pacific Life Insurance Company. He developed and provided continuing education on tax and legal planning strategies for small to medium size businesses and wealthy individuals, and worked with insurance wholesalers and financial advisors to understand and implement financial strategies geared towards asset preservation and income in retirement.

Don earned his undergraduate degree, a Bachelor of Science in General Science, from the University of Iowa, Iowa City, Iowa, and graduated from the University of Iowa College of Law with his Juris Doctorate. In addition to being an attorney and Certified Public Accountant, he maintains his designations as a Certified Financial Planner® and Certified Retirement Counselor®. He is a member of the Minnesota and Iowa State Bar Associations, and the Minnesota Society of CPAs.

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