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Monday, December 14, 2020 Webcast

Preparing Individual Tax Returns for New Staff and Para-Professionals (E2012191)

9:00 AM - 4:30 PM EST

Registration: 8:30 AM EST


8.0 CPE Credits in TX


The objective of this course is to train new staff accountants, data processing employees, para-professionals and bookkeepers to prepare a complicated federal individual income tax return. Over the years, thousands of new staff have received practical, hands-on experience to become familiar with tax forms. This course covers the latest tax law changes, making it essential for your new staff.

This course features a live instructor and has been specifically designed for the NJCPA.


New staff and para-professionals who prepare individual returns.


  • Learn complicated issues of filing status and dependency exemptions
  • Learn about and complete comprehensive problems related Schedules A, B, C, D, E, and SE; Forms 2106, 4797, and 4562; passive rules, "filled-in" forms and more
  • Learn about IRA contributions, self-employed retirement plans, child-care credits and the adoption tax credit


  • Preparation of various Form 1040 individual tax returns and schedules; provided answers include “filled-in” forms
  • Taking initiative in difficult assignments; can you deliver the QBI message? Full coverage of §199A qualified business income, its calculation, limitations and examples
  • Malodorous Form 8867 – changes again this year!
  • Dividends and interest – ordinary, return of capital and capital gain distribution dividends; tax-exempt interest, original issue discount, etc.
  • Security transactions – from Form 1099-B to Form 8949 to Schedule D, plus mutual fund sales and related basis issues
  • Self-employed person issues
  • Schedule C deductions including depreciation
  • Sale and exchange of property – understanding Form 4797 and depreciation recapture; capital gains
  • A working understanding of passive losses – how to handle rental property and how the passive loss rules flow to the tax forms
  • Itemized deductions – a thorough understanding of what’s deductible and what’s not
  • Interest deductions – limitations and timing problems
  • Retirement contributions and education credits and deductions
  • Tax computations – the Kiddie Tax, AMT, regular tax and tax credits
  • Individual problems illustrated by form preparation for various items, with numerous “practice tips”
  • Impact of recent legislation and forms changes on the 1040








  • This seminar qualifies for IRS credit.

Course materials are distributed electronically. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.


Nicole DeRosa

Nicole M. DeRosa, CPA

Senior Tax Manager

Wiss & Company, LLP

Nicole DeRosa is a senior tax manager with Wiss & Company, LLP and has more than 12 years of public accounting experience, specializing in taxation for closely held businesses and individuals. In addition to working with clients in an array of industries, she was also an adjunct professor at Raritan Valley Community College where she taught Tax Accounting for Individuals for four years. Nicole is a member of the NJCPA and is the leader of the Emerging Leaders Council. She is also active on the Content Advisory Board, Federal Taxation Interest Group and Emerging Leaders Interest Group. In 2015, she was awarded “30 Under 30” by the NJCPA, which recognizes young professionals who are making a name for themselves in the New Jersey accounting landscape. In 2019 she was awarded the “Women to Watch” Ovation Award which applauds the growth and success of female members for their leadership, potential, contributions and commitment to fostering the success of their colleagues. Most recently, Nicole was named to the 2020 edition of NJ BIZ’s Power 50 List which accounts for the most influential men and women in the accounting profession that helps to keep the states’ business on track. In Nicole’s spare time, she teaches Zumba Fitness and is active in various charitable organizations, such as St. Jude's and the American Heart Association. She is a graduate of Fairleigh Dickinson University, with degrees in Accountancy and Master of Science in Accountancy.


$389.00 - Nonmember

$289.00 - Member

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