This course will cover details of what are qualifying educational expenses, review the intricacies of the American Opportunity Credit, the Lifetime Learning Credit, and taking educational fees as a direct deduction on the 1040.

This Course will cover tax law changes that will affect 2012 tax return filed starting January 2013. Each year there are changes to the IRS tax code, but this year in particular there are more than usual. We will go into detail on the most recent changes and how they will affect your clients return … Continue reading "Tax Season Updates - TY2012"

This course will cover amending individual tax returns and working with IRS form 1040X. We will review amending return you initially prepared and also returns initially completed by other tax preparers, and how to get the information necessary to properly complete an amended return if your client does not have access to the information needed. … Continue reading "Amending Tax Returns - Form 1040X"

What is Tax Office Due Diligence, and how does it affect your tax practice. We will cover how to make sure your office can pass a Due Diligence IRS audit, explain what the responsibilities of tax preparers’ are when it comes to taking clients at their word, and discus how asking the proper questions can … Continue reading "Tax Office Due Diligence and The Earned Income Tax Credit"

Itemized Deductions vs. Standard Deductions - What is the difference? When to itemize? What is the deductible? What records are needed when filed? Specifics to Schedule A's.