© Phoenix Beach, LLC 

Training for Business Professionals

Who Should  Attend?

Tax return preparers, staff accountants, and paraprofessionals with little or no experience and out of practice public accountants seeking a basic tax return preparation course.

Area of Study:


16 hours


Advance Preparation:

Group Live or Internet Based

  Hands-On Tax Return Workshop - Individuals (Form 1040)

This case-driven training is designed to get the inexperienced accountant up to speed quickly in the most common areas of individual income taxation. The cornerstone of this course is the preparation of the Form 1040 using actual client data common to most individual income tax returns.

Learning Objectives:
Once participants have completed this session they should be able to:
• Prepare a complete Form 1040 income tax return and related schedules with minimal review points
• Understand the individual income tax law from a tax-form perspective and become more knowledgeable with the information gathering process (i.e. asking the right questions)

Course Highlights

This two-day session is taught using a Hands-On methodology.  Using a comprehensive case study (actual W-2s, 1099s, 1098s, K-1s, etc.), the participant will walk through the preparation of the Form 1040 and related tax schedules.  Each participant will receive a comprehensive individual income tax reference manual that includes numerous practice aids, real world examples, new Federal income tax forms and schedules, and Pat Garverick’s Quick Reference Chart.  Topics include:

Discuss the SECURE & CURES Act individual income tax provisions
Detailed coverage of the temporary (2018-2025) individual income tax provisions of the Tax Cuts & Jobs Act (TCJA) of 2017

• Dissecting the Form W-2, 1099s and Schedule K-1s
• Schedule A – allowable itemized deductions and phase-out rules
• Schedule B – interest and dividend income
• Schedule C and F – trade or business income and deductions
• Form 4562 – depreciation and amortization including §179
• Schedule D – sale of capital assets and personal residences
• Form 4797 – sale of trade or business property including the ordinary income recapture rules under §1245 and §1250
• Schedule E – rentals, passive activities and flow through entities
• Other gross income items including alimony, state and local refunds, IRA and pension distributions, unemployment compensation and social security benefits
• Adjustments to gross income including IRAs, SEPs, tuition and fees deduction, student loan interest and self-employed health insurance
• Calculate regular tax liability (Schedule D), alternative minimum tax (AMT) (Form 6251) and self-employment tax (Schedule SE)
• Overview of selected income tax credits