CoursesWe currently offer the following Live and Correspondence courses:
All Live courses are offered at our office in Salinas, CA. To request a class schedule click here This e-mail address is being protected from spambots. You need JavaScript enabled to view it The following correspondence courses are available for purchase: 2009 LTPA Education Courses Either CTEC or IRS Credits can be Administered Federal 2 Hour Modules..................................Price $40.00 Each (Click on the course link to purchase) Special Needs and Concerns for Seniors Tax Issues for Divorced and Separated Taxpayers Tax Issues for High Income Taxpayers Tax Planning & Savings Strategy California 1 Hour Modules...........................Price $20.00 Each (Click on the course link to purchase) Gross Income & Adjustments to Income Interest, Dividend & Retirement Income Itemized Deductions & Employee Business Expense Refundable and Non Refundable Credits Federal 2 Hour Modules Amended Returns Topics covered include common reasons for amendments, statute of limitation when claiming a refund, 1040X preparation, installment agreements, fees for amended returns, and state income tax return amendments. Clergy This lesson identifies who the IRS recognizes as a minister for tax purposes. Special tax and reporting rules apply to those who qualify as a minister under federal tax law: Ethics Ethics is defined as the discipline of dealing with what is good and bad, and with moral duty and obligation. It is a set theory, or system of principals or moral values. It is also the rules and standards governing the conduct of a person or the members of a profession (i.e., tax practice ethics).
Income, Expenses and Basis Students will review various types of income and their source. Students will also study expenses, cost of goods sold, basis of assets and depreciation. Net Operating Loss (NOL) Topics covered include how to figure an NOL, when to use an NOL, how to claim an NOL deduction, how to figure an NOL carryover, and lastly, details on how to report and file an NOL with the IRS. Non Resident Alien Returns At the end of this seminar, the student will be able to determine, based on the circumstances, whether an individual is a resident or a nonresident alien. He will all be able to determine when a nonresident alien must file a tax return and which income must be reported. Responding to the IRS Students will be able to discuss when a payment plan may be set up with IRS and the procedure for applying, summarize the most common notices sent to a taxpayer by IRS along with recommended taxpayer actions, describe the major issues usually covered in an IRS audit targeting the Earned Income Credit (EIC), explain the types of supporting documentation necessary to justify claiming EIC, Head of Household (HOH) filing status, and dependency exemptions, explain the purpose of an Offer in Compromise (OIC) and the application of the statutory collection period to a non-filer, and summarize recommended preparation when the taxpayer has been selected for an audit by IRS. Schedule D Discussed in this lesson is the difference between statutory and non statutory stock options and how the rules apply to determining taxable income due to employee stock option. Like kind exchanges are touched upon in this session as well. Special Needs and Concerns for Seniors This topic will concentrate on issues that affect senior citizens such as required minimum distributions from IRAs, taxable social security and estimated tax payments. Students will also review medical deductions for seniors such as assisted living, long term care insurance premiums and when these expenses are allowed. Tax Issues for Divorced and Separated Taxpayers Students study tax issues facing divorced and separated taxpayers. Topics include filing status considerations, exemptions considerations, alimony, qualified domestic relations orders, IRAs, property settlement issues, deductibility of divorce related costs, tax withholding, estimated tax payments, and community property issues.
Tax Issues for High Income Taxpayers The student will be able to identify specific adjustments and tax preference items that may cause a taxpayer to pay alternative minimum tax (AMT), determine deductible cash and noncash charitable contributions, apply the phase-out criteria for itemized deductions and exemptions to specific situations, determine appropriate IRA or Coverdell ESA contributions for a given year, compare the requirements for taking an educational credit or tuition and fees deduction, and understand the phase-out criteria for a variety of credits. Tax Planning & Savings Strategy At the end of this lesson the student should understand the importance of yearend tax planning and the various factors to be considered in such planning. In addition he will have insight into the tax savings of investment planning, compare retirement planning alternatives, the advantages and availability of each. The student will also be exposed to the variety of strategies that can influence the AGI as a tax planning tool.
California 1 Hour Modules Filing Statuses This lesson discusses the difference between federal and state filing status. Gross Income & Adjustments to Income This lesson discusses how California handles income and the adjustments to income that needs to be added or subtracted to California Income. Interest, Dividend & Retirement Income This lesson covers interest earned, dividends earned both taxable and on taxable and retirement income. Itemized Deductions & Employee Business Expense This lesson follows the federal schedule A and the difference between California and the State. Refundable and Non Refundable Credits This covers the credits that can be claimed on the California return, whether they are refundable or non refundable. Sole Proprietor This lesson covers how income for the sole proprietor is taxed and reported in California. To order any of these courses, click here
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