Course Description

The Internal Revenue Code is just a different world! While most business school graduates learn basic GAAP or IFRS accounting principles, the tax world feels very foreign – because so many rules are different. For example, how do you depreciate assets if we don’t estimate their useful lives? Also, when do we need to file a tax return for a flow-through entity if they don’t actually pay any taxes? And when are estimated tax payments required? In this course, we will be exploring some basic principles for filing and paying business income taxes. If you are new practitioner or someone who is going out on your own for the first-time, and you find yourself intimidated by all of the income tax rules and compliance, we have you covered!

Learning Objectives

  • Identify the main types of accounting methods that may be used on an income tax return.

  • State when a taxpayer must make estimated tax payments.

  • Recognize expenses that have special tax treatment.

Additional Required Materials

  • Level: Basic

  • Field of Study: Accounting (NASBA)

  • Who Should Attend: Practitioners that are new to the industry or preparing tax returns. Also, small business owners looking to file their own business tax return.

  • Required Knowledge: None

  • Advanced Prep: None

Instructor

CPA, CPCU, MST, MBA David Peters

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA. He has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, and ethics throughout the United States. He holds four Masters degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.