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Chartered Tax Professional for California Residents

GES 220 -- 200 hours

Course Outline

I. California Income Tax Preparation

a. California CTEC Income Tax Supplement
i. Electronic Filing
ii. W-2 & 1099 Forms
iii. Form 540 & 540A
iv. Filing Requirements
v. Filing Status
vi. Exemption & Dependents
vii. Dependent Care & Tax Credits
viii. Various Sources of Income
ix. Additions and Subtractions from Income
x. Itemized Deductions
xi. Resident & Nonresident Returns
xii. Employee Business Expenses
xiii. Sale of Real Estate
xiv. Depreciation: MACRS & ACRS
xv. Community Property Rules
xvi. Self-Employment
xvii. Rental Property
xviii. Capital Gains & Losses
xix. Ethics
xx. Penalties
xxi. Extensions
xxii. Amended Returns
xxiii. Political Activity Expenses
xxiv. Withholding on Nonresident Sales of Real Property
xxv. Common Law Test for Employment
xxvi. Statutory Employees
xxvii. Independent Contractor Reporting Requirements
xxviii. Credit for Taxes Paid to Other States
xxix. California Business and Professional Code

II. Individual Income Tax Preparation

a. Basic Income Tax Course
i. Electronic Filing
ii. W-2 & 1099 Forms
iii. Form 1040 (1040 EZ/A)
iv. Interview Techniques
v. Filing Requirements
vi. Filing Status
vii. Exemptions & Dependents
viii. Earned Income Tax Credit
ix. Due Diligence
x. Child Care & Tax Credits
xi. Interest & Dividends
xii. Other Income
xiii. Adjustments to Income
xiv. Moving Expenses
xv. Itemized Deductions
xvi. IRAs & Retirements Plans

b. Intermediate Income Tax Course
i. Employee Business Expenses
ii. Sale of Real Estate
iii. Depreciation: MACRS & ACRS
iv. Self-Employment
v. Rental Property
vi. Capital Gains & Losses
vii. Education Expenses & Plans
viii. Education Tax Benefits
ix. Ethics
x. Kiddie Tax
xi. Taxpayer Relief Act of 1977
xii. Tax Saving Ideas
xiii. Alternative Minimum Tax
xiv. Office-in-Home
xv. Injured & Innocent Spouse
xvi. Penalties
xvii. Extensions
xviii. Amended Returns

c. Advanced Income Tax Course - Level I
i. Earned Income Credit
ii. Clergy
iii. Investments
iv. At Risk Rules
v. Passive Activities
vi. Injured/Innocent Spouse
vii. Tax/Special Credits
viii. COGS/Business Start-Up
ix. Depreciation, Amortization & Section 179
x. Employee Business Expense
xi. Office in Home
xii. Auto Expenses
xiii. Self-Employment Tax
xiv. Statutory Employees
xv. Capital Gains/Losses
xvi. Basis of Property
xvii. Sale of Stock
xviii. Installment Sales
xix. Rental Properties
xx. K-1s/1099s
xxi. Sale of Business Property
xxii. Estimated Taxes
xxiii. Extensions

d. Advanced Income Tax Course - Level II
i. Amended Tax Returns for Individuals
ii. Special Needs and Concerns of Seniors
iii. Tax Issues for High Income Taxpayers
iv. Net Operating Losses
v. Schedule D - Special Issues
vi. Tax Issues for Divorced Taxpayers
vii. Tax Planning Tips and Strategies
viii. Responding to the IRS
ix. Part-year Resident State Tax Preparation Principles
x. Nonresident Alien Returns - Form 1040NR

III. Small Business Income Tax Preparation

a. Introduction to Small Business Tax Preparation
i. Business Types
ii. Accounting Methods
iii. Financial Statements
iv. Business Income
v. Schedule C
vi. COGS/Inventory
vii. Depreciation
viii. Section 179 Deduction
ix. Contractor vs. Employee
x. Sale of Business Property
xi. Partnerships
xii. Corporations - C, S, LLC
xiii. Employee Taxes
xiv. Excise Taxes
xv. Estate Taxes
xvi. Extensions
xvii. Estimates
xviii. Employee Benefits
xix. Retirement Plans

b. Small Business Income Tax Course - Level II
i. Understanding the Balance Sheet
ii. Partnership Issues
iii. Corporation Issues
iv. General Business Credits
v. Tax Issues Related to Buying a Business
vi. Sale or Liquidation of Business
vii. Profit or Loss From Farming - Schedule F
viii. Amended or Corrected Business Returns
ix. What to Do When You Owe the IRS?
x. Tax Preparation for Non-profits: 501(c)(3), 501(c)(4), 501(c)(6), etc.



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