© Phoenix Beach, LLC 

Training for Business Professionals

Who Should  Attend?

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

Area of Study:


24 hours


Advance Preparation:

Group Live

Date Available:
June 1

Course Code:


  Staff Tax Training – Individuals (Form 1040)

This training course is designed to provide a comprehensive understanding of the Federal income tax laws applicable to individuals. The cornerstone of this course is the integration of the most recent tax laws and theories to real world case scenarios and the preparation and/or review of the IRS tax forms and schedules.

Learning Objectives:

Once participants have completed this session they should be able to:

  - Understand a majority of the Federal income tax laws applicable to most individuals (i.e. theory) and apply this from a tax-
    ​ form perspective

  - Prepare a complete Form 1040 individual income tax return and related schedules with minimal review points

Course Highlights

This 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 while learning the complex income tax law.  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:

  - Detailed coverage of the Tax Cuts & Jobs Act (TCJA) affecting individuals

   - Review of the ACA taxes, penalties and credits repealed and retained (i.e., 3.8% net investment income tax, additional

     0.9% Medicare tax on high wage individuals and self-employment income, IRC §5000A shared responsibility payment

     penalty (i.e., individual health insurance mandate) and IRC §36B premium assistance credit)

  - Form 1040 – gross income items including wages, alimony, refunds, unemployment compensation, pension, IRA’s, social
  ​  security and other miscellaneous income items

  - Schedule B – interest and dividend income

  - Schedule C and F – trade or business income and deductions

  - Form 4562 – depreciation, amortization and §179 expense

  - Schedule D – sales of capital assets and personal residences

  - Form 4797 – sale of trade or business property including the ordinary income recapture rules under IRC §1245 and §1250

  - Schedule E – rentals, passive activities and flow through entities

  - Adjustments to gross income including IRA’s, SEPs, SIMPLEs, HSAs, tuition and fees, alimony paid, student loan interest
   ​ and self-employed health insurance deduction

  - Schedule A – allowable itemized deductions and phase-out rules

  - Overview of the various taxes including income, capital gain, self-employment, household employee and AMT

  - Selected tax credits (e.g. child tax, dependent care and education)