Staff Training Part 1: Individuals (Currently Unavailable)
Author: Greg White
| CPE Credit: |
4 hours for CPAs
4 hours Federal Tax Related for EAs and OTRPs
4 hours Federal Tax Law for CTEC |
Tax practice is a complicated field. We’ll break it down into understandable concepts, including filing status, tax brackets, and tax dependents. We’ll also cover important tax credits, including the child tax credit.
Publication Date: July 2020
Designed For
Designed for tax professionals involved in federal tax planning or tax return preparation.
Topics Covered
- Why Is Tax Practice a Great Undertaking?
- Tax Practice
- Helping Others
- Preparing for College and Retirement
- Preparing for Your Own Life
- Relearning
- Tax Law: Structure of Tax Law
- Form 1040
- Standard Deductions
- Tax Brackets
- Who Must File
- Forms
- Interconnected Topics
- Filing Status Options
- Determining Filing Status: Overview
- Inevitable Mistakes
- Dependents
- Key to Unlocking Benefits
- Qualifying Child
- Tiebreakers
- Qualifying Relative
- Credits: Dollar for Dollar Benefit
- Income and Interconnected Benefits
- Child Tax Credit and Other Dependents Tax Credits
- Form 8332
Learning Objectives
- Recognize how to choose the best filing status for your client
- Identify the tax consequences of getting married
- Identify individuals who are eligible to be claimed as dependents
- Recognize how to compute the child tax credit
- Identify an example of an above the line deduction
- Identify examples of itemized deductions
- Identify 2019 standard deductions for various types of filers
- Recognize which IRS Forms apply to various taxpayers
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (4 hours)
Program Prerequisites
None
Advance Preparation
None
