This series covers key areas to ensure your young tax professionals are well prepared to begin their careers and support your firm. 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
▪ Analyze and report the business income and expenses of a sole proprietorship or a single member LLC on Schedule C to the Form 1040.
▪ Interpret and report the rental activities on Schedule E to the Form 1040.
▪ Identify the specific rules that apply under the “passive activity” rules.
▪ Determine if a change of filing status will improve the filing position for taxpayers based on the list of itemized deductions.
▪ Determine when an S Corporation may be advantageous for a business, how to make a proper S corporation election, and the income or 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.
Junior accounting and tax professionals.
Tax Staff with 0-2 year experience.
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