Comprehensive Tax Program

Legacy Advisory Firm’s Tax Preparation Course: Bookkeeping, Payroll, Sales Tax, and Depreciation and Amortization

Are you a tax preparer looking to expand your knowledge and skills? Legacy Advisory Firm offers a comprehensive tax preparation course designed to help you understand bookkeeping basics, payroll, sales tax, and depreciation and amortization. You will also learn about different types of business entities such as LLCs, Sole Proprietorships, Partnerships, C-Corporations, and S-Corporations.

Day 1: Bookkeeping Basics

This course will cover the following topics:

6 main elements of bookkeeping and accounting basics
Understanding financial information to ensure its accuracy
Assisting clients in bookkeeping and financial information gathering
Importance of accurate financial information
VALUE OF $658.13

Day 2: LLC, Sole Proprietorship, Partnerships, Qualified Joint Ventures

This course will cover the following topics:

Understanding partnerships and how they are formed
Capital account, General Partnership agreement, UPE, and Section 199A
Line by line review with real examples of Form 1065, Form K-1, and the General Partnership Agreement
Advantages and disadvantages of becoming an LLC
VALUE OF $438.90

Day 3: C-Corporations

This course will cover the following topics:

Forming a corporation, business entities, ownership, structure, and taxation
Line by line review of Form 1120 with an example of filling it out directly on tax software
Explanation of dissolving or canceling a corporation, and fees or penalties
VALUE OF $438.90

Day 4: S-Corporations

This course will cover the following topics:

Advantages and disadvantages of becoming an S-Corporation
Corporate structure, reasonable compensation, allocation of income, and tax savings
Examples of converting clients and line by line review of Form 1120S and Form K-1
Overview of Form 2553, correctly filling out the S-Election form, and filing late S-election
VALUE OF $438.90

Benefits of the Course:

By completing this course, you will have the following benefits:

Knowledge and skills required to prepare accurate financial statements and tax returns for clients
Understanding of different business entities and their tax implications
The ability to advise clients on how to structure their businesses for maximum tax savings
Confidence in handling complex financial information and tax forms