Preparing Individual Tax Returns for New Staff and Paraprofessionals (VIRTUAL SEMINAR)

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PITR-WEB  |  Virtual Live  |  Basic  |  Scheduled

Special Notes

  • This program has been approved for 8 hours of IRS CE credit for Enrolled Agents (EA) and Other Tax Return Preparers (OTRP) with PTIN numbers. Please contact ISCPA if you are an EA or OTRP and would like to receive IRS CE credit for this course.

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
  • Form 8867 – Protecting practitioners
  • 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: $395.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations.

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Instructors

John N. Sherrick

Show Bio

John N. Sherrick is the managing partner of Sitrick & Associates, LLC in Bettendorf, Iowa. John prepares tax returns and financial statements for closely held companies and their owners. He also provides retirement and estate-tax planning for his clients. In addition, John serves as an expert witness for business valuations and other tax and accounting issues. John has over 30 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. John also has had experience in auditing and taxation of not-for-profit organizations on the local and national level. John 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, Iowa City, Iowa. John holds CPA certificates in both Iowa and Illinois and is a member of the AICPA, the Iowa Society of CPAs, and the Illinois CPA Society. 1/06

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