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Basic Staff Tax Training: Individual 2024

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Online, OK 00000

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8.00 Credits

Member Price $299

Non-Member Price $399

Overview

This course will help you master individual income tax return preparation! It will improve your understanding of the basics, focusing on the law and compliance associated with Form 1040. It is an excellent overview of the process for new preparers and a refresher for the more seasoned professional.

Highlights

  • Emphasize form 1040 and the accompanying reporting schedules for a basic individual income tax return
  • Identify and be able to implement basic individual income tax planning ideas for clients
  • Familiarity with several source documents utilized in the preparation of an individual income tax return
  • Identify common errors made in the preparation of an individual income tax return and understand how to avoid the errors in the future

Prerequisites

Basic understanding of individual income taxation.

Designed For

New tax preparers and experienced staff seeking a refresher.

Objectives

  • Identify all of the individual income tax series 1040 and basic schedules and know when each form is used
  • Identify the major individual income tax items that most taxpayers report each year
  • Recognize source documents and how to use these documents to complete Form 1040
  • Calculate the income tax liabilities of individual taxpayers with common individual tax items
  • Identify available resources to assist the practitioner in identifying and resolving individual income tax questions
  • Recognize concepts through the use of basic quick case studies

Preparation

None

Leader(s):

Leader Bios

Troy Lewis

Troy Lewis is the Past Chair of the Tax Executive Committee of the American Institute of CPAs (AICPA) in Washington, DC. In this role, he has testified six times before the United States Senate Finance Committee and the House Committee on Small Business.  Mr. Lewis has been active with the AICPA and the Utah Association of CPAs, for over two decades serving in key leadership positions including the President of the UACPA. Mr. Lewis currently teaches accounting and tax at Brigham Young University in Provo, Utah. He is in practice as a Manager/Member at Lewis & Associates, CPAs, LLC in Draper, Utah. He also worked in public accounting at Arthur Andersen and for a community bank in St. George, Utah. He obtained his Masters of Accountancy and Bachelors of Science in Accountancy from Brigham Young University. He is also a Certified Public Accountant (CPA) and a Chartered Global Management Accountant (CGMA).

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Non-Member Price $399

Member Price $299