Event Details
Several years ago, Taxspeaker's President Bob Jennings began recognizing the lack of younger faces in live crowds around the country. He attributed it to one major problem: the failure of today's university accounting programs to properly educate students that 50% of the US economy is driven by small business while training students exclusively for "Big 4" employment as, essentially, taxpayer-funded Big 4 training programs. Our solution was to develop a "1040 Boot Camp" to train non-traditional employees in how to prepare individual income tax returns as taught by actual small-firm owning, professional speaker tax professionals. The course has proven to be extraordinarily popular since we started it in 2019. Each speaker is a firm owner with at least 20 years experience. Designed for the staff person with 0-3 years of experience it provides hands-on training for non-traditional employees in preparing Forms 1040, A,B,C,D, E and depreciation. Each day ends with a student's manually-prepared 1040, which is then explained individually (but not graded or picked up) by the professional instructors. Attendees in 2023 commented that they were afraid of the case study but found it exhilaratingly useful, and that the training was immediately useful. ***Not applicable for CPE credit***
Upon completion of this course you will be able to: 1. Determine what qualifies for medical deductions 2. Define medical expense 3. Identify the qualities of US Savings bonds 4. Determine what factors affect qualified education expenses 5. Determine what can be deducted by Day Care facilities 6. Determine what meals and entertainment expenses can be deducted 7. Determine when Section 1041 applies 8. Identify when transfers between soon to be ex-spouses are tax free 9. Determine what can be depreciated 10. Define Bonus depreciation 11. Identify the origins of MACRS 12. Determine the MACRS lives of various items 13. Determine how an IRA may be invested 14. Identify the differences between different retirement accounts 15. Determine what is involved in making withdrawals from Roth IRAs 16. Determine where to report rollovers
- Prerequisites: None
- Hours: 16
- Field of Study: Taxes - 0 - Not applicable for CPE Credit
- Course Level: Basic
- IRS Number: Not applicable for CPE Credit
Early Registration Deadline: January 6, 2025