Tax Staff Essentials – Level 1, New Staff

Designed for beginning staff, this level covers key areas to ensure your young tax force is well prepared to begin their careers. We will focus on the areas of Individual, Partnership and S Corporation tax compliance, effective online tax research techniques, clear and precise workpaper documentation, effective professional business communications. Your future tax professionals will be provided a broad range of practical tax instruction, including key issues surrounding the Individual taxation, new cost and repair regulations, S Corporation distributions, items affecting shareholder basis, Passive Activity Loss rules, and more. The Tax Staff Essentials courses establish a strong set of core skills necessary for junior staff growth.

Learning Objectives

Learning Objective: 

When you complete this level you will be able to:

  • Identify the specific rules that apply under the “passive activity” rules
  • Determine when an S Corporation may be advantageous for a business and how to make a proper election
  • Determine income or loss that passes through to the shareholder
  • Recognize active and passive income and determine material participation as it relates to an individual S corporation shareholder
  • Understand the impact of converting a C Corporation, with prior retained earnings, into an S Corporation
  • Distinguish between deductible repairs and capitalized improvements under tax regulations
  • Calculate the initial tax basis and adjusted tax basis of business property
  • Execute efficient and meaningful research utilizing internet-based tax research services
  • Identify which workpapers are appropriate for specific tax situations
  • Produce written communications that are positive and confident

Topics Discussed

Topics Discussed: 
  • Tax Research I
  • Individual Tax Fundamentals
  • Capitalized Costs and Depreciation
  • Working Paper Documentation
  • S Corporation Fundamental
  • Effective Business Communication
  • Tax Fundamentals of LLCs and Partnerships

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COURSE CODE

TSE1

FIELD OF STUDY

Taxes

CPE CREDIT HOURS

40

KNOWLEDGE LEVEL

Basic

INTENDED AUDIENCE

Tax Staff with 0–2 years of experience

PREREQUISITE

None

ADVANCED PREPARATION

None

DELIVERY METHOD

Group Live
On Demand

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For individual training, visit:

(U.S.) AICPAstore.com

(Outside the U.S.) CGMAstore.com


CONTACT A TRAINING REPRESENTATIVE:


1-800-634-6780 Option 1
aicpalearning@aicpa.org

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