Course Year: 2012
Course Level: Intermediate
Prerequisite: Basic knowledge of income taxation
Advance Preparation: None
* NATP will report CPE credits to the IRS for all PTIN holders. CPE is currently not mandatory for RTRPs or RTRP candidates and any option to register or participate in this program is strictly voluntary.
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||Federal Tax Law Topic|
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Fees: $97 for Members and $113 for Nonmembers
Expand your knowledge with in-depth tax issues that affect your small business clients. Topics include employee fringe benefits retirement plans recordkeeping, disaster planning and misclassification of employees. If you have small business clients, you will want to be sure you’re on top of these timely issues..
Table of Contents
Upon completion of this course, you will be able to:
- Identify qualifying benefits of cafeteria plans and the qualifications of simple cafeteria plans.
- Report health insurance benefits.
- Determine the tax treatment of group-term life insurance coverage for both the employee and the employer.
- Identify key employees and the unique tax treatment of their life insurance benefits.
- Examine the exclusion rules that apply to employer-provided meals.
- Explain the treatment of providing retirement planning services.
- Identify the requirements and features of SEPs, SIMPLE IRAs and 401(k) plans.
- Calculate the maximum contribution for various types of retirement plans.
- Compute the deduction for various types of retirement plan contributions.
- Explain the employer’s responsibility for maintaining and funding retirement plans.
- Distinguish between the tax treatment of sole proprietors, partnerships and corporations with regard to retirement plans.
- Explain the importance of keeping records.
- Identify what type of records to keep and how long to keep them.
- Implement a disaster plan.
- Represent a client in a no-records audit.
- Distinguish between an independent contractor and an employee.
- Correctly report the earnings of both types of workers.
- Utilize the programs available for correcting the misclassification of employees.
- Complete Form SS-8, Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding.
- Avoid penalties for misclassifying workers.
For more information regarding refund, complaint and/or program cancellation policies, please contact our Member Services Department at 800.558.3402, ext 3.
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