QuickBooks Customizing for Tax Preparation
Wednesday, July 14, 2021
10:00 AM to 11:40 AM

Cost: Member: $40 / Non-Member: $70

Speaker: Jane Ryder, EA, CPA
2 Federal Tax Law Hours
IRS: 18QC1-T-01507-21-O
CTEC: 1000-CE-4907

Session Description:
Learn best practices for titling and categorizing accounts in QuickBooks for added clarity and accuracy in tax preparation. Guidance on chart of accounts for various business entities with examples such as travel vs meals, insurance categories, deductible interest vs loan payments, accounting for credit card merchant fees, and shareholder distributions. Update your skills related to balance sheets and customizing accounts for Tips on working with clients' bookkeepers, IRS audits, or helping the client understand their business reports such as "where's the money?" and understanding their "taxable income".

Knowledge Level: Basic

Learning Objectives:

#1: Learn best practices for aligning the QB chart of accounts for complete and accurate tax preparation and financial statements. Receive our sample reports for P&Ls and balance sheets customized for each entity type.

#2: Improve your skills for reviewing a client's or other bookkeeper's accounting work in QB and understand which accounts need verification, adjustments, or reclassification. Identify the accounts critical to an accurate tax return and the accounts most likely to harbor misclassified items.

#3: Understand the tax preparer's exposure to accuracy issues related to preparing QB reports or agreeing to review and adjust a client's QB reports for tax. Learn tips and helpful processes for getting info from clients and holding them accountable for the QB reports you agree to review or prepare. Plus

Jane Ryder, EA, CPA

Jane Ryder, EA, CPA has been providing tax preparation, accounting services, and tax collection resolution services since 1980. She runs her San Diego CPA firm and writes and speaks on many income tax, business compliance and accounting topics. Jane has a business centric practice, preparing and consulting on tax, accounting, and compliance matters for Corporations, S-corporations, LLC’s, Partnerships, and Trusts. She also specializes in IRS and state agencies collection problems, payment plans, audit representation, audit appeals, offers in compromise, and other compliance related issues. She earned a BS in Business Administration (Accounting) from SDSU and is currently licensed with the California State Board of Accountancy and admitted to practice before the the Internal Revenue Service as an Enrolled Agent.