Surgent's Preparing C Corporation Tax Returns for New Staff and Para-Professionals (PCTR)

  • Tuesday, March 27, 2018 – Tuesday, April 30, 2019

  • 8


  • Develop an understanding of basic preparation principles which affect all business entities
  • Learn in detail about the preparation of a Form 1120, and Schedule M-1
  • Understand the proper treatment of trial balance entries into Form 1120


  • Preparation by hand of a reasonably complicated Form 1120 U.S. corporate income tax return from trial balance to completed return
  • The importance of Schedule M-1, including many adjustments in reconciling book income to tax income, and items preparation staff may look for on all business returns
  • The current rules regarding depreciation deductions, including the expensing elections of §179, the first-year requirements of §168, the standard MACRS depreciation rules, plus the overall limitations on luxury automobiles
  • Methods of accounting -- Application and choices
  • In-depth analysis of Form 4797 dealing with the sale of business property and depreciation recapture
  • Deductible expenses -- including rules on meals and entertainment
  • Computation of tax liability, including alternative minimum tax
  • Overview of many common business deductions; which are deductible and which are M-1 items?
  • How to practically handle uniform capitalization and inventory accounting for a small manufacturing concern
  • The manufacturers deduction for domestic production, including small business safe harbors
  • And much more

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