EA Exam Prep Part 2: C Corporations Sample Tax Return (Currently Unavailable)
Author: Eva Rosenberg
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Law for CTEC
2 hours Test Preparation for OTRPs |
This is the fourteenth class of the EA Exam Prep Part 2 series. In this course, you’ll try your hand at preparing a Form 1120, U. S. Corporation Income Tax Return and associated forms and schedules. With the help of TaxMama®, you’ll learn helpful hints and tips for preparing the return. Start with an analysis of the client information. Did they provide everything you need? Does something look out of place? Where would you find missing information? Take on depreciation calculations. Analyze “what-if” scenarios, and more. Once complete, use the return data for tax planning.
Publication Date: August 2019
Designed For
Tax practitioners of all levels, regardless of experience, who want to learn about income tax preparation and more. Excellent training for staff working in tax offices, accounting practices, and corporate settings, as well as independent bookkeepers. This course provides an in-depth look at preparing a C Corporation tax return. It is especially helpful to those with no hands-on experience preparing tax returns – and those who are returning to tax preparation after years in corporate or other jobs. This course is also designed to help CPAs earn their Enrolled Agent credential so they can practice anywhere in the country without re-certifying.
Topics Covered
- How to analyze client information
- Determining missing information
- Business and financial plans
- Officer information
- Form 1125-E
- Taxes and licenses expenses
- Income
- Deductions
- Cost of goods sold (COGS)
- Tax payments
- Depreciation
- Schedule L
- Schedules M-1 and M-2
- Schedule G
- Schedule K
- Letters and instructions
- Form 1120 in detail
- Retirement contributions
- Profit & Loss statement
- Estimated taxes
- Net operating loss (NOL)
- Software comparison
Learning Objectives
- Recognize how to analyze client data prior to tax return preparation
- Recognize how to determine how to obtain missing data
- Identify how to complete Form 1120 and related schedules
- Describe retirement contributions
- Identify applicable tax credits
- Identify how deductions only available to corporations
- Calculate estimated taxes
- Recognize calculation differences between tax software
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
