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Tax Staff Essentials, Level 1 - New Staff

Publisher: AICPA
Availability: Online Access
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Designed for beginning staff, Tax Staff Training, Level 1 covers key areas to ensure your young tax force is well prepared to begin their careers. We will focus on the areas of Individual and S Corporation tax compliance; effective online tax research techniques; clear and precise workpaper documentation; professional written business communications. Your future tax professionals will be provided a broad range of practical tax instruction, including key issues surrounding the new cost and repair regulations, Medicare Payroll tax, Net Investment Income Tax, S Corporation distributions, items affecting shareholder basis, Passive Activity Loss rules, and more. The Tax Staff Essentials courses establish a strong set of core skills necessary for junior staff growth.

Topics Discussed:

  • Filing requirements and personal exemptions
  • Gross income inclusions, exclusions, and adjustments
  • Sole proprietorships and hobby loss rules
  • Home offices, rental properties, and vacation homes
  • Passive activities
  • Net Investment Income Tax
  • Medicare Payroll Tax
  • S Corporation elections, terminations, and revocations
  • S Corp distributions and shareholder basis adjustments
  • S Corp allocations of profits and losses
  • Capital Improvements and Repair
  • Depreciation Methods and IRS tables
  • Intangible Asset Amortization
  • Online Tax Research methodology
  • Authorative Tax Hierarchy
  • The power of professional language in business writing
  • Book/Tax Adjustment documentation
  • Tax Return support documentation

Learning Objectives
When you complete this course you will be able to:

  • Analyze and report the business income and expenses of a sole proprietorship or a single member LLC on Schedule C to the Form 1040.
  • Interpret and report the rental activities on Schedule E to the Form 1040.
  • Identify the specific rules that apply under the “passive activity” rules.
  • Determine if a change of filing status will improve the filing position for taxpayers based on the list of itemized deductions.
  • Determine when an S Corporation may be advantageous for a business.
  • Determine how to make a proper S corporation election.
  • Determine income or loss that passes through to the shareholder.
  • Recognize active and passive income and determine material participation as it relates to an individual S corporation shareholder.
  • Understand the impact of converting a C Corporation, with prior retained earnings, into an S Corporation.
  • Distinguish between deductible repairs and capitalized improvements under new tax regulations.
  • Calculate the initial tax basis and adjusted tax basis of business property.
  • Determine the tax basis of self-constructed assets.
  • Execute efficient and meaningful research utilizing internet-based tax research services.
  • Know which workpapers are appropriate for specific tax situations.
  • Understand how to prepare an Accrual to Cash Conversion workpaper.
  • Produce written communications that are positive and confident.

Prerequisite: Tax Staff with 0-1 year experience

Advanced Preparation:  None

This comprehensive, integrated curriculum provides tax training for four different experience levels:

Tax Section Members Receive Additional Savings! 

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or

Find out more information on the Tax Section.

Group Training

Purchasing multiple enrollments for your organization? Discounts are available for 3 or more people.

Contact a representative by completing a brief Online Form or calling 800.634.6780 (option 1) for information on a discounted rate.

NOTE: If you wish to enroll Tax Section members in your group purchase, you must speak with a representative to ensure that section discounts are applied.

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Other Options

NASBA Field of Study: Taxes
Level: Basic
Recommended CPE Credit: 42.5
Tax Staff Essentials, Level 1 - New Staff
CPE On-Demand , 2015
Product# 157631
Availability: Online Access 1 Year
For registered users only
AICPA Member:$669.00
Your Price:$799.00
To receive your AICPA member discount, Sign In now, or Register using your AICPA membership number.