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Technical

Tax Staff Essentials, Level 1 - New Staff Logo aicpa

  $549.00 - 689.00 |   CPE: 56.5 |   AICPA |   May 2019 |   Taxes |   AICPA Store
Who Will Benefit?
  • Junior accounting and tax professionals
Key Topics
  • 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
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
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:

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.

For more info, visit the Tax Staff Essentials website.

Topics covered:
  • Tax: Technical: Individual income taxation : Reporting & filing requirements, Foundational
  • Tax: Technical: Individual income taxation : Income, Foundational
  • Tax: Technical: Individual income taxation : Deductions, Foundational
  • Tax: Technical: S corporation income taxation: Qualifications & considerations, Foundational
  • Tax: Technical: S corporation income taxation: Distributions & shareholder basis, Foundational
  • Tax: Technical: C corporation income taxation : Formation, liquidation & reorganization, Foundational
  • Tax: Technical: Tax accounting: Capitalization & depreciation, Foundational

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