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10 CPE Credits

Surgent's Preparing C Corporation Tax Returns for New Staff and Paraprofessionals

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10 CPE Credits

This is a text-based course. To receive credit, you are required to review all content and achieve a minimum score of 70% on the final exam.

This course is a great foundation to introduce new preparers to tax rules related to business returns. The course covers tax areas affecting all business entities, providing a solid basis for staff to handle business entity returns. Such business tax topics include the sale of assets used in a trade or business (Form 4797), depreciation (Form 4562), deductible and nondeductible items, and the basics of uniform capitalization. The objective of this course is to train new staff accountants, data processing employees, paraprofessionals, and bookkeepers to prepare complicated federal corporate income tax returns. It is a hands-on and practical course, with extra emphasis on changes to forms under new tax law.

Learning Objectives

  • Understand basic preparation principles that affect all business entities
  • Prepare a detailed Form 1120, including Schedule M-1
  • Apply proper treatment of trial balance entries on Form 1120

Major Topics

  • Updates throughout regarding the recent HR 1, One Big Beautiful Bill Act
  • Preparation of a reasonably complicated Form 1120, U.S. Corporation Income Tax Return, from trial balance to completed return
  • The importance of Schedule M-1, including adjustments in reconciling book income to tax income and items staff may look for on all business returns
  • New tax planning strategies for depreciation deductions, including changes to §179 and first-year depreciation under §168(k) as a result of new tax legislation
  • Methods of accounting
  • In-depth analysis of Form 4797 dealing with depreciation recapture
  • Deductible expenses, including rules on meals and entertainment
  • Section 163(j)
  • Computation of tax liability
  • Overview of common business deductions – deductibility and Schedule M-1
  • How to practically handle uniform capitalization and inventory accounting for a small manufacturing concern
  • And more!

CPE Credits Available

10 CPE Credits
10
Taxes

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Enrolled Agent - IRS Credit Eligible
  • Individual Tax
  • Tax

Prerequisites

None

Advanced Preparation

None

Intended Audience

New staff and paraprofessionals involved in return preparation

Provider

Surgent CPE

Purchase This Course

  • COCPA Member

    $ 189 189
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  • COCPA Non-Member

    $ 245 245
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