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CPE Self-Study

Tax Staff Essentials, Level 1 - New Staff

  • $549.00-$689.00
    Tax Staff Essentials, Level 1 - New Staff Availability : Online Access Product #: 157634
    AICPA Member: $549.00
    Non-Member: $689.00
  • Contact Sales
    Contact a representative for group pricing or on-site training opportunities. 800.634.6780 (Option 1) | Contact Us Product #: GT-TSE.LEVEL1

Note: These courses have been updated for the Tax Cuts and Jobs Act (TCJA) of 2017 ("Tax Reform"). Included with your course, you will have free access to a specially-prepared Course Supplement that provides an explanation of the key provisions of TCJA (including topics not covered in your course).

Tax Staff Essentials, Level 1 is designed for beginning staff; this level covers key areas to ensure your young tax force is well prepared to begin their careers. We will focus on the areas of 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 be provided a broad range of practical tax instruction, including key issues surrounding the 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.

Courses Included:

Key Topics

  • New individual income tax rates
  • New corporate tax rates
  • New pass-through income rules
  • The qualified business income (QBI) deduction
  • New rules for certain credits and deductions
  • Filing requirements and personal exemptions
  • Gross income inclusions, exclusions, and adjustments
  • Sole proprietorships and hobby loss rules
  • Home offices, rental properties, and vacation homes
  • Passive activities
  • Net Investment Income Tax
  • Medicare Payroll Tax
  • S Corporation elections, terminations, and revocations
  • S Corp distributions and shareholder basis adjustments
  • S Corp allocations of profits and losses
  • Capital Improvements and Repair
  • Depreciation Methods and IRS tables
  • Intangible Asset Amortization
  • Online Tax Research methodology
  • Authoritative Tax Hierarchy
  • The power of professional language in business writing
  • Book/Tax Adjustment documentation
  • Tax Return support documentation

Learning Objectives

This course will prepare you to:

  • 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
  • Determine how to make a proper S corporation election
  • Determine 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, with prior retained earnings, 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
  • Execute efficient and meaningful research utilizing internet-based tax research services
  • Know which workpapers are appropriate for specific tax situations
  • Understand how to prepare an Accrual to Cash Conversion workpaper
  • Produce written communications that are positive and confident

This comprehensive, integrated curriculum 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.

Discounts

Tax Section Members Receive Additional Savings!

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Multiple Participant Discounts:

Contact a representative by completing a brief Online Form or calling 800.634.6780(option 1) for information on a discounted rate.

On-Demand
The On-demand offers immediate access to courses with discounts available for 3+ participants.

On-Site:
The On-site program may be purchased for 10+ participants with an AICPA instructor or as a guide for using your own subject matter expert.

NOTE: If you wish to enroll Tax Section members in your group purchase, you must speak with a representative to ensure that section discounts are applied.

System Requirements

About the Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.