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Nebraska Society of CPAs
635 South 14th Street
Suite 330
Lincoln, Nebraska 68508
Phone: (402) 476-8482 (800) 642-6178
Fax: (402) 476-8731
Email: society@nescpa.org
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Hands-On 2-Day Tax Return Workshop - Individuals (Form 1040)
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| Date |
December 20 - 21, 2010
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| Location | Mahoney State Park, Ashland, NE |
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| Course Time |
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8:30 a.m. to 4:30 p.m. |
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This case-driven course is designed to get the inexperienced accountant up to speed quickly in the most common areas of individual income taxation. The preparation of the Form 1040 will use actual client data common to most individual income tax returns.
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| Course Highlights & Objectives |
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Adjustments to gross income including IRAs, SEPs, tuition and fees deduction, 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). Dissect the W-2, 1099s and K-1s. Exclusions from gross income. Form 4562 – depreciation & amortization including §179. Form 4797 – sale of trade or business property including the ordinary income recapture rules under §1245 and §1250. Other gross income items including alimony, state & local refunds, IRA and pension distributions, unemployment compensation and social security benefits. Overview of selected tax credits including the child tax credit, adoption credit, dependent care and education credits. Schedules A through F. Tax withholdings, excess FICA withheld and estimated payments needed to avoid the underpayment penalty. Using a comprehensive case study (actual W-2s, 1099s, 1098s, K-1s, etc.) the participant will prepare the Form 1040 and related tax schedules.
Become familiar with tax law from a tax-form perspective with an emphasis on any newly enacted legislation. Become more knowledgeable with the information gathering process (i.e. asking the right questions). Prepare a complete Form 1040 income tax return and related schedules with minimal review points. |
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| Who Should Attend |
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| Tax return preparers, staff accountants and paraprofessionals with little or no experience and out of practice public accountants seeking a basic tax return preparation course. |
| Course Level | Basic |
| Prerequisites | None |
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| Discussion Leader | Mark Vanden Berg, Garverick CPE |
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| Additional Information: |
Parking is available on site and lunch is provided. |
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| Fee |
$425 - Society Member
$455 - Society Nonmember |
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