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Tax Staff Essentials – Level 1, New Staff (Complete Bundle) 2020 August


This level 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

The Tax Staff Essentials courses establish a strong set of core skills necessary for junior staff growth.

Learning Objectives
  • 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
Major Topics
  • 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 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.
AICPA - Durham
Course Level
CPE Field of Study
Who Should Attend

Junior accounting and tax professionals.


Tax Staff with 0-2 year experience.

Advanced Preparation


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Tax Staff Essentials – Level 1, New Staff (Complete Bundle) 2020 August

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