Preparing C Corporation Tax Returns for New Staff and Para-Professionals Webinar

• Develop an understanding of basic preparation principles which affect all business entities
• Learn in detail about the preparation of a Form 1120, and Schedule M-1
• Understand the proper treatment of trial balance entries into Form 1120

• 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
• New tax-planning strategies for depreciation deductions, including changes to §179 and depreciation as a result of new 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
• Computation of tax liability, including alternative minimum tax
• 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
• Implications of the Affordable Care Act in tax returns
• And much more