This is day 1 of a two-day course.  This case-driven training is designed to get the inexperienced accountant up to speed quickly in the most common areas of individual income taxation. The cornerstone of this course is the preparation of the Form 1040 using actual client data common to most individual income tax returns.

Course Highlights

The course is taught with a Hands-On methodology.  Using a comprehensive case study (W-2s, 1099s, 1098s, K-1s), the participant will walk through the preparation of the Form 1040 and related tax schedules.  Each participant will receive a comprehensive individual income tax reference manual that includes practice aids, real world examples, new tax forms and schedules, and Pat Garverick’s Quick Reference Chart. Topics include: 

*  Extensive review of the individual income tax laws with an emphasis on any new legislative changes

*  Dissecting the Form W-2, 1099s and Schedule K-1s

*  8995 – QBI deduction

*  Sch A – allowable itemized deductions and phase-out rules

*  Sch B – interest and dividend income

*  Sch C & F – trade or business income and deductions

*  4562 – depreciation and amortization including §179

*  Sch D – sale of capital assets and personal residences

*  4797 – sale of trade or business property including the ordinary income recapture rules under §1245 and §1250

*  Sch E – rentals, passive activities and flow through entities

*  Other gross income items including alimony, state and local refunds, IRA and pension distributions, unemployment compensation and social security benefits

*  Adjustments to gross income including IRAs, SEPs, student loan interest and self-employed health insurance

*  Calculate regular tax liability (Sch D), alternative minimum tax (AMT) (Form 6251) and self-employment tax (Sch SE)

*  Overview of selected income tax credits (e.g., child tax credit, chi…

This is day 1 of a two-day course.  This case-driven training is designed to get the inexperienced accountant up to speed quickly in the most common areas of individual income taxation. The cornerstone of this course is the preparation of the Form 1040 using actual client data common to most individual income tax returns.

Course Highlights

The course is taught with a Hands-On methodology.  Using a comprehensive case study (W-2s, 1099s, 1098s, K-1s), the participant will walk through the preparation of the Form 1040 and related tax schedules.  Each participant will receive a comprehensive individual income tax reference manual that includes practice aids, real world examples, new tax forms and schedules, and Pat Garverick’s Quick Reference Chart. Topics include: 

*  Extensive review of the individual income tax laws with an emphasis on any new legislative changes

*  Dissecting the Form W-2, 1099s and Schedule K-1s

*  8995 – QBI deduction

*  Sch A – allowable itemized deductions and phase-out rules

*  Sch B – interest and dividend income

*  Sch C & F – trade or business income and deductions

*  4562 – depreciation and amortization including §179

*  Sch D – sale of capital assets and personal residences

*  4797 – sale of trade or business property including the ordinary income recapture rules under §1245 and §1250

*  Sch E – rentals, passive activities and flow through entities

*  Other gross income items including alimony, state and local refunds, IRA and pension distributions, unemployment compensation and social security benefits

*  Adjustments to gross income including IRAs, SEPs, student loan interest and self-employed health insurance

*  Calculate regular tax liability (Sch D), alternative minimum tax (AMT) (Form 6251) and self-employment tax (Sch SE)

*  Overview of selected income tax credits (e.g., child tax credit, chi…

This is day 1 of a two-day course.  This case-driven training is designed to get the inexperienced accountant up to speed quickly in the most common areas of individual income taxation. The cornerstone of this course is the preparation of the Form 1040 using actual client data common to most individual income tax returns.

Course Highlights

The course is taught with a Hands-On methodology.  Using a comprehensive case study (W-2s, 1099s, 1098s, K-1s), the participant will walk through the preparation of the Form 1040 and related tax schedules.  Each participant will receive a comprehensive individual income tax reference manual that includes practice aids, real world examples, new tax forms and schedules, and Pat Garverick’s Quick Reference Chart. Topics include: 

*  Extensive review of the individual income tax laws with an emphasis on any new legislative changes

*  Dissecting the Form W-2, 1099s and Schedule K-1s

*  8995 – QBI deduction

*  Sch A – allowable itemized deductions and phase-out rules

*  Sch B – interest and dividend income

*  Sch C & F – trade or business income and deductions

*  4562 – depreciation and amortization including §179

*  Sch D – sale of capital assets and personal residences

*  4797 – sale of trade or business property including the ordinary income recapture rules under §1245 and §1250

*  Sch E – rentals, passive activities and flow through entities

*  Other gross income items including alimony, state and local refunds, IRA and pension distributions, unemployment compensation and social security benefits

*  Adjustments to gross income including IRAs, SEPs, student loan interest and self-employed health insurance

*  Calculate regular tax liability (Sch D), alternative minimum tax (AMT) (Form 6251) and self-employment tax (Sch SE)

*  Overview of selected income tax credits (e.g., child tax credit, chi…

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Forthcoming 

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Forthcoming 

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