PCTR
PREPARING C CORPORATION TAX RETURNS FOR NEW STAFF
AND PARA-PROFESSIONALS
This course is a great foundation to introduce new preparers to tax rules related to business returns. The objective of this course is to train new staff accountants, data processing employees, para-professionals, and bookkeepers to prepare a complicated federal corporate income tax return. It is a hands-on, practical course in filling out most tax forms, with extra emphasis on form changes due to new tax law.
This course provides new staff coverage of tax areas affecting all business entities, providing staff training in which they may carry to other business entity returns. Such business tax topics include the sale of assets used in any trade or business (Form 4797), depreciation (Form 4562), deductible verses non-deductible items and the basics of uniform capitalization. Major Topics
- Preparation of a reasonably complicated Form 1120 U.S. corporate income tax return from trial balance to completed return
- Numerous M-1 adjustments in reconciling from book to tax
- How to practically handle uniform capitalization and inventory accounting for a small manufacturing concern
- New tax-planning strategies for depreciation deductions, including changes to §179 as a result 2010 tax legislation.
- Methods of accounting -- Application and choices
- In-depth analysis of Form 4797 dealing with depreciation recapture
- Deductible expenses -- A “laundry list” including rules on meals and entertainment
- Computation of tax liability, including alternative minimum tax
- What about M-3?
- And much more
Designed For: New staff and para-professionals involved in return preparation.
Level of Knowledge: Basic
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