Tax Staff Essentials, Level 1 - New Staff
Level 1 is designed to help beginning staff members develop a strong set of core skills. It focuses on individual and S corporation tax compliance plus professional business communications and more!
Format
Online
NASBA Field of Study
Taxes
Level
Basic
CPE Credits
57.5
Availability
2 years
- New rules for certain credits, deductions and qualified business income (QBI) deduction
- Filing requirements and personal exemptions
- Gross income inclusions, exclusions, and adjustments
- Sole proprietorships, hobby loss rules and passive activities
- Home offices, rental properties and vacation homes
- Pass-through entity basis calculations
- Pass-through entity distributions
- Capital improvements and repair
- Depreciation methods and IRS tables
- Intangible asset amortization
- Online tax research methodology and authoritative tax hierarchy
- The power of professional language in business writing
- Tax return support documentation
- Analyze and report business income and expenses of a sole proprietorship or a single member LLC on Schedule C to the Form 1040
- Interpret and report rental activities on Schedule E to the Form 1040
- Identify the specific "passive activity" rules
- Determine if a change of filing status will improve the taxpayers' filing position based on itemized deductions
- Determine when an S corporation may be advantageous for a business, how to make a proper election, and the income/loss that passes through to the shareholder
- Recognize active and passive income and determine material participation as it relates to an individual S corporation shareholder
- Understand the impact of converting a C corporation into an S corporation
- Distinguish between deductible repairs and capitalized improvements under new tax regulations
- Calculate the initial tax basis and adjusted tax basis of business property
- Determine the tax basis of self-constructed assets
Help your junior staff establish a strong set of core skills
This series covers key areas to ensure your young tax force is well prepared to begin their careers. They'll learn about:
- Individual, partnership and S corporation tax compliance
- Effective online tax research techniques
- Clear and precise workpaper documentation
- Effective professional business communications
Your future tax professionals will also receive a broad range of practical tax instruction, including key issues surrounding:
- Individual taxation
- New cost and repair regulations
- S corporation distributions
- Items affecting shareholder basis
- Passive activity loss rules, and more
Courses Include:
- Tax Research I
- Individual Tax Fundamentals
- Capitalized Costs & Depreciation
- Working Paper Documentation
- S Corporation Fundamentals
- Effective Business Communication
- Tax Fundamentals of LLCs & Partnerships
Note: These courses have been updated for the 2017 Tax Cuts and Jobs Act (TCJA) ("Tax Reform"). You'll have free access to a Course Supplement that provides an explanation of the key provisions of the TCJA (including topics not covered in your course).
Tax Staff Essentials is a comprehensive, integrated curriculum that provides tax training for four different experience levels and is available in four different formats: Online, On-site, Tax Schools and Webcasts.
- Junior accounting and tax professionals
Looking for group pricing?
We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org
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