Streamlining and preparing for Tax Season with QuickBooks Online: Partnering with an Accountant

Discover the essential responsibilities that your bookkeeper undertake in partnership with a Certified Public Accountants (CPA) during year-end tax preparation.

Productivity

2 Hours

Description

In this course, you will learn about the crucial role your bookkeeper play in ensuring accurate and organized financial data for tax purposes. While bookkeepers do not directly process taxes, they collaborate with CPAs to provide necessary documentation and support throughout the tax preparation process. You will gain insight into preparing and forwarding financial reports, filling out and sending IRS tax forms based on different business types, and gathering and forwarding deduction data. By understanding your bookkeeper's role in year-end tax preparation, you can effectively contribute to a smooth and successful tax filing process.

Course Objectives

Enroll in this course to understand the bookkeeper's role in year-end tax preparation and gain the knowledge and skills necessary to support the collaboration between bookkeepers and CPAs. By mastering these responsibilities, you can contribute to accurate and efficient tax filings for your organization or clients.

Target Audience

Bookkeepers, Business Owners, Entrepreneurs, Business Professionals

Basic Understanding

Knowledge of how to customize and run financial reports, payroll reports & assess depreciation costs.

Course Content

No sessions available.

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Simpliv LLC
39658 Mission Boulevard,
Fremont, CA 94539, USA

Streamlining and preparing for Tax Season with QuickBooks Online: Partnering with an Accountant

Session 1: Introduction to the Bookkeeper's Role in Year-End Tax Preparation

  1. Understanding the collaboration between bookkeepers and CPAs
  2. Overview of the bookkeeper's responsibilities during tax preparation

Session 2: Financial Reports: What to Prepare and Forward

  1. Balance Sheet
  2. Profit and Loss Statement
  3. Cash Flow Statement
  4. Payroll Reports
  5. Inventory Valuation Detail Reports
  6. Asset List Report
  7. Mortgage Interest Statement (Form 1098)

Session 3: Fill out and Send IRS Tax Forms - Business Types

  1. Sole Proprietor - (Form 1040)
  2. LLC (Single Member) - (Schedule C)
  3. LLC (Multiple-Member & Partnerships) - (Form 1065 and Schedule K-1)
  4. S-Corp (Form 1120 S and Schedule K-1)
  5. Corporation (Form 1120)
  6. W-2s, W-3s, 1099-MISC: Reporting employee wages and contractor payments
  7. Client's Prior Year Federal Tax Return

Session 4: Gather and Forward Deduction Data

  1. Home Office Expenses
  2. Business Vehicle Mileage Log
  3. Business Travel Expenses
  4. Charity Contributions
  5. Health Insurance Premiums
  6. Marketing Materials
  7. Utilities (used in business operations)
  8. Legal Fees

Coupons

No offers available at this time.

Live Support

Call

+510-849-6155

Mail to

support@simplivlearning.com

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