Staff Training in Taxation - Level 2 (1ST2)

This course is designed for participants to easily make the transition from individual return preparation to business return preparation, including understanding the intricacies of entity type selection. It provides staff training for tax areas affecting all business entities. Such business tax topics include the sale of assets used in any trade or business (Form 4797), depreciation (Form 4562), compensation issues, fringe benefits, and deductible trade or business deductions vs. nondeductible items (Schedule M-1). It begins with a comprehensive study of C corporation business tax issues, and allows the participant to carry issues toward S corporation and partnership returns. This course also contains examples and cases to illustrate what preparers need to be aware of for business income tax returns.