Tax Fundamentals

Description

SESSION 1:  Tax Forms Boot Camp: S Corporations, July 15, 2025

This 4-hour session offers a practical, hands-on approach to preparing S corporation tax returns, focusing on both the technical aspects and the underlying laws and regulations. Participants will explore the foundational concepts of Form 1120S, building a sturdy base for understanding more advanced topics that tax preparers may encounter. The course integrates theoretical knowledge with real-world examples, illustrating key concepts through detailed, up-to-date case studies. 

Learning Objectives: 
1. Gain an understanding of the tax rules, eligibility requirements, and compliance obligations related to S corporations.
2. Confidently prepare Form 1120S and learn to properly report pass-through income, deductions, and special items on Schedule K-1.
3. Understand the tax implications for individuals and businesses operating as an S corporation.

SESSION 2: Tax Forms Boot Camp: Partnerships, July 22, 2025

This 4-hour session offers a hands-on approach to understanding and preparing partnership tax returns (and multi-member LLCs filing as partnerships) focusing on the underlying laws, regulations, and compliance requirements. It covers the foundational concepts of Form 1065, then uses them as a framework to explore more advanced and complex tax scenarios. Through detailed examples and practical exercises, participants will gain insights into applying theoretical concepts.

Learning Objectives:
1. Understand the framework and reporting requirements of Form 1065 and identify common partnership tax issues.
2. Confidently prepare and reconcile partnership tax returns and properly complete and review partner K-1s.
3. Apply tax laws to specific partnership scenarios.

 

Continuing Education

Pricing

Early rates until Thursday, July 10th.
Please note:  Student pricing is for students enrolled in 2025 EA Exam Prep or Basic Tax course.

Webinar Details

After registering, everything you need for attending this webinar will be found in Your Learning Center.

Cancellation/Refund Policies

Due to the proprietary nature of the materials provided in the Tax Fundamentals Bootcamps, refunds will not be granted once the manuals are available for download, typically 7 days before the first class. Before then, full refund if request is received in writing and sent to info@csea.org.

Description

This course is designed as a comprehensive guide to the core concepts of trust income tax preparation. The course explains the common terminology and complicated income tax rules of estates and trusts, fiduciary accounting, and an introduction to or refresher on preparing Form 1041. This practical, over 300-page manual is an excellent reference source for your practice, which begins with quite simple cases. Building upon that base throughout the manual, the course ends with two complicated preparation cases, one trust and one estate, each with filled-in forms.

Major Topics:

• Classifying receipts between "income" and "corpus" under the Uniform Principal and Income Act
• Calculation of DNI utilizing three different methods, a "forms" method (Schedule B), a "code" method, and a "shortcut" method, utilizing a worksheet of common income and expenses
• Proper W-2 preparation and procedures in the year of death
• Taxpayer passes before taking a required minimum distribution; what must be done?
• Forgetful fiduciaries of simple trusts
• Fluctuating trusts – Simple one year, complex the next
• Dividing income in the year of death
• Overview of Subchapter J
• Form preparation issues – Filing requirements and line-by-line explanations of Form 1041
• Taxable income of estates and trusts and expense allocation issues
• Specific deductions and miscellaneous itemized deductions
• Income in respect of a decedent
• The income distribution deduction calculation
• Relation of principal and income law to DNI
• Understanding how to handle capital gains and losses
• Allocating tax items to beneficiaries: another K-1
• Other considerations: excess deductions on termination
• Effects of the CARES and Tax Relief Acts on trusts: §461(l) Excess Business Loss Limitation, NOL, §163(j) modifications, new employer credits
• Comprehensive DNI case study, with principal (cost and FMV) and income reconciliation
• Comprehensive trust and estate case studies, with filled-in forms

Continuing Education

Pricing

Registration opening soon.
Please note: Student pricing is for students enrolled in CSEA's 2024 or 2025 EA Exam Prep or Basic Tax course.

 

Webinar Details

After registering, everything you need for attending this webinar will be found in Your Learning Center.

Cancellation/Refund Policies

Due to the proprietary nature of the materials provided in the Tax Fundamentals Bootcamps, refunds will not be granted once the manuals are available for download, typically 7 days before the first class. Before then, full refund if request is received in writing and sent to info@csea.org.

Description

This course will teach you how to prepare a moderately complex federal individual income tax return (Form 1040).

Major Topics:

• New and expanded energy credits under the Inflation Reduction Act (IRA)
• Preparation of various Form 1040 individual tax returns and schedules; provided answers include "filled-in" forms
• Coverage of Form 7203
• Coverage of §199A qualified business income, its calculation, limitations, and examples
• Dividends and interest – Ordinary, return of capital, and capital gain distribution dividends; tax-exempt interest, original issue discount, etc.
• Security transactions – From Form 1099-B to Form 8949 to Schedule D, plus mutual fund sales and related basis issues
• Self-employed person issues
• Schedule C deductions including depreciation
• Sale and exchange of property – Understanding Form 4797 and depreciation recapture; capital gains
• A working understanding of passive losses – How to handle rental property and how the passive loss rules flow to the tax forms
• Itemized deductions – A thorough understanding of what's deductible and what's not
• Interest deductions – Limitations and timing problems
• Charitable contributions substituting for taxes, IRS says – No!
• Retirement contributions and education credits and deductions
• Tax computations – The Kiddie Tax, AMT, regular tax, tax credits
• Individual problems illustrated by form preparation for various items, with numerous "practice tips"
• Impact of recent legislation and forms changes on the 1040

Continuing Education

Pricing

Registration opening soon.
Please note: Student pricing is for students enrolled in CSEA's 2024 or 2025 EA Exam Prep or Basic Tax course.

Webinar Details

After registering, everything you need for attending this webinar will be found in Your Learning Center.

Cancellation/Refund Policies

Due to the proprietary nature of the materials provided in the Tax Fundamentals Bootcamps, refunds will not be granted once the manuals are available for download, typically 7 days before the first class. Before then, full refund if request is received in writing and sent to info@csea.org.