1040 Boot Camp

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  • Date/Time
    • Jan 17, 2022 - Jan 18, 2022
    • Day 1: 8:00am - 4:00pm (MT)
    • Day 2: 8:00am - 4:00pm (MT)
    • Add to Calendar
  • Location
    • Your Computer
      Your Space
      ISCPA Webinar, ID 00000
  • Credits
    • 16.00
  • Credit Type(s)
    • Taxation (16.00)
  • Vendor
    • TaxSpeaker
  • Level
    • Beginning
  • Fields of Study
    • Taxes
  • Message
    • Webinar - Viewing From Computer

Description

Several years ago, Taxspeaker’s President Bob Jennings began recognizing the lack of younger faces in live crowds around the country. He attributed it to one major problem: the failure of today’s university accounting programs to properly educate students that 50% of the US economy is driven by small business while training students exclusively for “Big 4” employment as, essentially, taxpayer-funded Big 4 training programs.

Our solution was to develop a “1040 Boot Camp” to train non-traditional employees in how to prepare individual income tax returns as taught by actual small-firm owning, professional speaker tax professionals. The first two national courses sold out within days in 2019, followed by similar results in 2020. Each speaker is a firm owner with at least 20 years experience who personally still prepare over 200 tax returns annually.

Designed For

Designed for the staff person with 0-3 years of experience it provides hands-on training for non-traditional employees in preparing Forms 1040, A,B,C,D, E and depreciation. Each day ends with a student’s manually-prepared 1040, which is then explained individually (but not graded or picked up) by the professional instructors. Attendees have commented that they were afraid of the case studies but found them exhilaratingly useful.

Objectives

Upon completion of this course you will be able to:

  1. Determine what qualifies for medical deductions
  2. Define medical expense
  3. Identify the qualities of US Savings bonds
  4. Determine what factors affect qualified education expenses
  5. Determine what can be deducted by Day Care facilities
  6. Determine what meals and entertainment expenses can be deducted
  7. Determine when Section 1041 applies
  8. Identify when transfers between soon to be ex-spouses are tax free
  9. Determine what can be depreciated
  10. Define Bonus depreciation
  11. Identify the origins of MACRS
  12. Determine the MACRS lives of various items
  13. Determine how an IRA may be invested
  14. Identify the differences between different retirement accounts
  15. Determine what is involved in making withdrawals from Roth IRAs
  16. Determine where to report rollovers

Advanced Prep

This meeting will be held in a zoom meeting room. You will receive that information 1 wk prior to the event.

Register Now

Registration is closed. Please contact ISCPA at 208-344-6261 or email cpe@idcpa.org if you have any questions.

Leaders

Terry Bakker

Terry O’Leary Bakker CPA, EA, LTC 67985-C is the owner of O’Leary’s Tax Service, Ltd. in downtown Vancouver, Washington, across the river from Portland, Oregon. Terry graduated with her BS in Business Administration: Accounting from Portland State University in 1988 and has worked in tax ever since. Terry is an Enrolled Agent and a CPA licensed in Washington and Oregon. In addition to running an active tax practice serving the needs of individuals and small business, Terry has a commitment to the profession. She is a Past President of the Oregon Association of Independent Accountants, as well as holding other positions, including head of the Education Committee. As part of her commitment, she teaches the Enrolled Agents Preparation course for her Association and has spoken for all of the tax preparation associations in Oregon.

Gregg Goodsell

Gregg Goodsell is an enrolled agent in Tempe, Arizona and has been in private practice for 33 years. Gregg earned his bachelor’s and master’s degrees from Iowa State University and has previously taught at Iowa State, Arizona State University, and Mesa Community College, where he consistently earned some of the highest possible instructor evaluation ratings from his students. Gregg is a highly accomplished tax seminar speaker and writer, having written and presented seminars on complex tax laws to thousands of CPAs, enrolled agents, attorneys, and tax preparers. Gregg has prepared well over 20,000 personal and business tax returns in his career and enjoys interacting with seminar attendees, answering their questions and providing real-world solutions to their tax problems. Gregg and his wife Amy have been married 34 years and have two children: Jessica is a biomedical anthropologist in Phoenix, and Kevin is a naval flight officer assigned to the Japan-based aircraft carrier, USS Ronald Reagan.

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