Randy Adams, EA

 
 

Bio

Randy Adams is the Owner of Rotation Management Corp., a tax preparation and accounting business located in Des Moines, Iowa. He has operated this business for 20 years after 13 years in various management positions. He holds a Master’s Degree in Accounting and an Enrolled Agent status with the Internal Revenue Service. He enjoys consulting with business owners on using QuickBooks for their bookkeeping and in teaching tax classes. In his spare time he enjoys biking, motorcycling, and hiking in the National Parks.

 Instructor's Courses

 

 

On-Demand WebinarReporting Forms 1099-C and 1099-A<h3>Summary</h3> <p>If your client came in with Form 1099-C and/or 1099-A, would you know how to properly report them? Forms 1099-C and 1099-A can often leave clients worried or confused, so it’s your job as their tax professional to understand the basics of cancellation of debt income and how to report on a client’s income tax return. This webinar walks through the basics of reporting Forms 1099-C and 1099-A.</p> Taxpayers can have recourse or nonrecourse debt, they can receive a 1099-A, but no 1099-C and they can be solvent, insolvent or bankrupt. How to properly report these forms will depend on the taxpayer’s specific circumstances at the time the debt was cancelled. This webinar explains the proper reporting of Form 1099-C and 1099-A in a variety of client situations, such as credit card debt, rentals, personal residences and decedents. Additionally, we’ll review how a 1099-C is reported when there are co-signers or more than one obligor on a loan. </p> <iframe src="https://fast.wistia.net/embed/iframe/u87kn2wsfs" title="Wistia video player" allowtransparency="true" frameborder="0" scrolling="no" class="wistia_embed" name="wistia_embed" allowfullscreen mozallowfullscreen webkitallowfullscreen oallowfullscreen msallowfullscreen width="640" height="360"></iframe> <script src="https://fast.wistia.net/assets/external/E-v1.js" async></script> <h3>Objectives</h3> <p>Upon completion of this course, you will be able to: <ul> <li>Distinguish between recourse and nonrecourse debt.</li> <li>Classify debtors as solvent, insolvent or bankrupt.</li> <li>Describe Forms 1099-C and 1099-A.</li> <li>Identify when each form should be issued.</li> <li>Properly calculate and report income from cancellation of debt.</li> <li>Outline the treatment of cancellation of debt when more than one taxpayer is obligated to pay the debt.</li> </ul> <h3>Course Details</h3> <p>This webinar includes the presentation slides, exam questions, live webinar recording with review questions, and Q&A transcript. CPE is issued after exam is successfully completed.</p>2017-08-31T04:00:00Z2018-12-31T05:00:00ZNone2017-08-31T04:00:00Z0N/AODW1716Basic2Federal Tax Law Topic2017-08-31T04:00:00ZQAS Self Study$56 for Members and $68 for Nonmembers2Federal Tax Law Topic22TaxesNoneRandy Adams, EAhttps://www.natptax.com/EventsAndEducation/About/Pages/Randy-Adams.aspxFederal Tax Law Topic2 CPE for AFSP, EA, CPA, CRTPon-demand webinar20172018-12-31T05:00:00Z

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