Webinar: Preparing C Corporation Tax Returns for New Staff and Paraprofessionals

Highlights

• Preparation by hand of a reasonably complicated Form 1120 U.S. corporate income tax return from trial balance to completed return
• The importance of Schedule M-1, including many adjustments in reconciling book income to tax income, and items preparation staff may look for on all business returns. Learn to self-review
• New tax-planning strategies for depreciation deductions, including changes to §179 and first-year depreciation (Section 168(k)) as a result of recent tax legislation
• Methods of accounting -- Application and choices
• 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 many common business deductions; which are deductible and which are M-1 items?
• How to practically handle uniform capitalization and inventory accounting for a small manufacturing concern
• And much more