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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.
  • Training Type
    Live Training
  • Category
    Finance
  • Duration
    2 Hours
  • Rating
    4.8/5
Streamlining and preparing for Tax Season with QuickBooks Online: Partnering with an Accountant

Course Introduction

About the Course

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 Objective

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.

Who is the Target Audience?

Bookkeepers, Business Owners, Entrepreneurs, Business Professionals

Basic Knowledge

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

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Available Batches

There are no upcoming batches. You can Enroll for a recorded sessions.

Pricing

Live
Single Attendee
149 249
Live Session
Recorded
Single Attendee
199 332
6 month Access for Rec
Live+Recorded
Single Attendee
249 416
6 month Access for Rec
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Curriculum
Total Duration : 2 Hours
Introduction to the Bookkeeper's Role in Year-End Tax Preparation
  • Understanding the collaboration between bookkeepers and CPAs  
  • Overview of the bookkeeper's responsibilities during tax preparation  
Financial Reports: What to Prepare and Forward
  • Balance Sheet  
  • Profit and Loss Statement  
  • Cash Flow Statement  
  • Payroll Reports  
  • Inventory Valuation Detail Reports  
  • Asset List Report  
  • Mortgage Interest Statement (Form 1098)  
Fill out and Send IRS Tax Forms - Business Types
  • Sole Proprietor - (Form 1040)  
  • LLC (Single Member) - (Schedule C)  
  • LLC (Multiple-Member & Partnerships) - (Form 1065 and Schedule K-1)  
  • S-Corp (Form 1120 S and Schedule K-1)  
  • Corporation (Form 1120)  
  • W-2s, W-3s, 1099-MISC: Reporting employee wages and contractor payments  
  • Client's Prior Year Federal Tax Return  
Gather and Forward Deduction Data
  • Home Office Expenses  
  • Business Vehicle Mileage Log  
  • Business Travel Expenses  
  • Charity Contributions  
  • Health Insurance Premiums  
  • Marketing Materials  
  • Utilities (used in business operations)  
  • Legal Fees