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Course/Product Description

Solving the Tax Puzzle Part II

Format: Online Training Course

Are you a Newcomer to the tax field? Are you seeking to strengthen your understanding of current tax law changes?

Perhaps you've been in practice for decades
and just want a fun refresher to update
skills, learn some tricks and make
your tax practice more profitable!

This course is for those who wish to learn tax without taking the EA Exam.

Solving the Tax Puzzle, Part II (Business Taxation) is based on the Internal Revenue Code in effect for tax returns filed for the current year tax season. BUT, the fundamental information you will learn is eternal. Only the limits change annually to confuse the taxpayers...(or to account for inflation).

The course will include TaxMama's special twists, teaching you more than tax law - you'll learn:

  • How to select the best entity for your clients
    how to prepare business tax returns and get pointers on simplifying your work
  • How to reconcile tax returns to books – even if there really aren't any books
  • How to protect your practice from client conflicts and lawsuits
  • How to maintain an ethical practice, in the face of client 'persuasion' to assist them in little falsehoods
  • How to find loopholes to help cut taxes legally

Course Process

Each week, students will receive an email with two lessons; each will include:

  • A written lecture (may be printed out)
  • An audio lecture (may be downloaded to an MP3 player)
  • Client profile with additional data to build your sample tax return
  • Discussion report - a compilation of student questions and e-mails received since the last class pertaining to lecture material and the sample tax returns
  • Links to forms and resources for the lesson

Course Outline

  • Lectures 9 – 12 of Solving the Tax Puzzle Part I – Assets, Depreciation, Sales and Exchanges
  • Lecture 1 - The big Picture – Overview of Business Entities, Pros and Cons of using each Format
  • Lecture 2 - First piece – Accounting 101 – Understanding the Balance Sheet and Income Statement
  • Lecture 3 - Favorite piece – Business Income – and how to reconcile it to third party information
  • Lecture 4 - Juicy piece – Business Expenses – All those luscious write-offs
  • Lecture 5 - Misunderstood piece – Office in Home – and how it applies to each business entity
  • Lecture 6 - Custom Piece – Specific Businesses – Farms, truckers, Internet Marketers
  • Lecture 7 - Exempt Piece – Exempt Organizations – and the new filing rules
  • Lecture 8 - Fun piece – Discussing the Schedule C Tax Sample and your results – and how to do it better
  • Lecture 9 - Shared piece – Partnerships – General, Limited, LLCs, JVs and Married Couples
  • Lecture 10 – Joining piece – Getting into and out of Partnerships
  • Lecture 11 – Sharing piece – Discussing the 1065 Tax Sample and your results – and how to do it better
  • Lecture 12 – Incorporated piece – C Corporations – including PSCs and holding companies
  • Lecture 13 – Reconciling Piece – Discussing the Form 1120 Tax Sample, reconciling Schedules L, M-1, M-2
  • Lecture 14 – Small Business Piece- S Corporations – Small Business or S Corporations – special issues for shareholder-employees
  • Lecture 15 – Filing Piece – Reconciling Piece – Discussing the Form 1120S Tax Sample and your results – and how to do it better – and reconciling Schedules L, M-1, M-2
  • Lecture 16 – Freedom Piece – Business retirement plans – and how they work with each entity
  • Lecture 17 – Trusting Piece – Estate and Trusts – Form 1041

Course Materials

  • Free tax preparation software including free electronic filing to use for practice returns or real returns
  • TaxMama's® Ebook, The 100% Home-Based Business Tax Solution
  • Small Business Taxes Made Easy – paperback book FreshBooks
  • 24/7 Study hall with links to key part 1 materials
  • Access to study buddies and study buddy teams

You will get data from sample clients to input into your own tax software or forms. You will get profiles of different types of clients, with respective levels of complexity.

About The Provider: Eva Rosenberg, EA, better-known as The TaxMama, is regarded throughout the industry as one of the top authorities on the Enrolled Agent license.

Eva revived and restructured the EA Exam Review course at UCLA Extension, then taught it through Eva's Tax Class for several years. Starting her career, Eva trained in national and (then) Big-8 CPA firms, and has been in private practice for over 25 years.

The TaxMama website is an official education partner with the Internal Revenue Service's Taxpayer Education & Communications and regularly helps IRS fix systemic problems, based on issues raised by TaxMama's readers - both taxpayers and tax professionals.

Practically an Internet pioneer, Eva keeps finding better and better ways to teach the EA Exam Review Class online, to allow students from all over the world to gather together in online classrooms and online study halls.

About the Courses

All the EA Exam Review courses are taught by Enrolled Agents who've taken the exam themselves. The instructors are well-connected within IRS, the Taxpayers Advocate, or top tax software developers.

What Graduates are Saying

I can never thank you enough for all the dedication and heart that you put into these classes. We have all been very blessed to have had you as a teacher! And all the "extras" that you do - you are fabulous!!! You have so much knowledge - thank you for sharing that with everyone. ~ JM

I must tell you now this has been one summer to remember and I have enjoyed every minute. You and your "crew" are 5 star all the way. Regardless of the outcome I have learned so much, it has been well worth the journey. I wish you Eva, Lucie, Jim and Roger... Lulu "all" the others continued success. ~ EK (She passed all parts!)
Price: $450.00
More Info: Contact Us For More Information
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