Tax Staff Essentials Level 1 - New Staff
Comprehensive education about tax fundamentals for early-career tax staff in a series of courses.
Format
Online
NASBA Field of Study
Taxes
Level
Basic
CPE Credits
44
Availability
1 year
Product Number
TSELEVEL125SSO
This product has been updated to reflect changes under H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act or OBBBA.
The ultimate toolkit for new tax staff
This series covers key areas to ensure the newest members of the tax force are well prepared to begin their careers and support their firms. They’ll learn about the following:
- Individual tax compliance
- Pass-through taxation matters
- Capitalization, depreciation, and amortization of property
Budding tax professionals will also receive a broad range of practical tax instruction, including key issues surrounding:
- Individual taxation
- Cost and repair regulations
- S corporation distributions
- Items affecting shareholder basis
- Passive activity loss rules
Courses covering an array of tax topics
Learners are exposed to a variety of foundational tax topics. Courses include:
- Individual Tax Fundamentals
- Capitalized Costs and Depreciation
- S Corporations: Key Issues, Compliance, and Tax Strategies
- Tax Fundamentals of LLCs and Partnerships
Updated for the latest legislative, regulatory, and judicial developments
Tax staff can keep up with the rapid pace of tax change with Tax Staff Essentials Level 1, which is updated to reflect the effects of new legislation, U.S. Treasury and IRS guidance, and U.S. Tax Court decisions.
Who Will Benefit
- New tax staff in public accounting or industry
- CPAs interested in strengthening their tax knowledge
Key Topics
- Filing requirements and personal exemptions
- Gross income inclusions, exclusions and adjustments.
- Home offices, rental properties and vacation homes
- Pass-through entity basis calculations
- Pass-through entity distributions
- Capital improvements and repair
- Depreciation methods and IRS tables
- Intangible asset amortization
Learning Outcomes
- Identify individual retirement account (IRA) and qualified plan distributions.
- Recall the steps to figuring the qualified business income deduction under Section 199A.
- Distinguish between deductible and capitalized expenditures related to repairs and improvements.
- Identify the tax basis of self-constructed assets.
- Identify the effects of investor contributions and distributions on their basis in a partnership or LLC interest.
- Distinguish between current and liquidating distributions.
- Recognize the advantages and disadvantages of S corporation status.
- Recognize when an S corporation is subject to tax at the entity level.
Group ordering for your team
2 to 5 registrants
Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.
Start order6+ registrants
We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)
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