Tax Staff Training – Level 1 – Individual (111148-12)
Description
Essential knowledge for the new income tax return preparer, in an
information packed day of practical instruction. Return preparation
techniques are illustrated using real practice situations culled from
hundreds of “tax organizers” and thousands of client questions. Jump
start the career of the new accountant.
Learning Objectives
Identify tax Issues and when to ask for help
Interpret client
information; real estate closing statements, Forms 1099R, and Forms 1099
from mutual fund to properly classify and report transactions
Analyze
supporting documents for tax information
Prepare Forms 1040, 4562,
4797, 6251, and others, efficiently (with or without a computer!)
Use
IRS publications to answer tax questions efficiently
Be a productive
member of the tax-team, communicating clearly with a return reviewer
Major Topics
Identifying, summarizing and classifying income and deductible
expenses
Depreciation, cost recovery, and recapture
Passive losses
Interest tracing
Trade or business expenses
Capital gains and losses
Alternative minimum taxation & Procedures to minimize errors and
simplify review
Finding answers to tax questions quickly and correctly
