Federal Tax Update

Overview

This "best of" combination course offers a two-day review of all important current year tax changes affecting individual AND business tax returns with a view from 10,000 feet of the overview of changes without getting lost in the details. Maintained and updated throughout the day before the class, attendees receive the latest hot-off-the-press tax industry changes.

Learning Objectives:

• Apply the latest tax law changes to the current Form 1040/1120/1120S/1065 tax returns you prepare
• Properly use many federal tax provisions prior to their expiration date
• Determine if your clients had job related business expenses
• Determine if your clients had any work related education expenses
• Summarize the various methods of accounting that are available
• Advise clients on how to properly account for inventory
• Determine when a change in accounting method has occurred, when IRS approval is needed and when it is not needed, and what situations qualify for automatic approval.