1. 1. Here are some notes that may help you in your training
2. 2. 1.Sign onto website https://www.jhnet.com/ Processing Center Code: CBD User name: Password:
3. 3. Week 1. Session 1-Filing Information Session 2-Exemptions and Dependents Week 2. Session 3-Filing Basics Session 4- Employee Compensation On-Line Module-General Filing Information ( FOUND UNDER MY TOOLS> CATALOG>SEARCH) WEEK 3. SESSION 5- Interest and Dividends SESSION 6-State Refunds & Alimony WEEK 4.SESSION7-Basis and Depreciation SESSION 8.-Special Considerations for Depreciation WEEK 5. Session 9.-SELF EMPLOYMENT On-Line Module 2013 Spotlight on 1099-MISC On-LineModule Spotlight on Schedule C WEEK 6. On-Line Module Kids Stuff Preparing Returns for Childcare Providers On-Line Module Preparing Returns for Truckers Session 10 Capital Gains and Losses On-line Module2013 Spotlight on Schedule D WEEK 7. Session 11-Reitrement Distribution On-Line Module Spotlight on 1099 R Session 12- Residential Rental Property & Flow Through Entities WEEK 8. Session 13- Government Payments and Other Income Session 14-Adjustment to Income Session 15 MID TERM REVIEW WEEK 9. Session 16 Standard and Itemized Deductions On-Line Module-2013 Spotlight on Schedule A Session 17- Miscellaneous Itemized Deductions WEEK 10. Session 18 Tax and Childcare Credits Session 19-Education Credits Session 20. Savers Credit & Child Tax Credit WEEK 11. Session 21- Other Taxes and Payments Session 22- Earned Income Tax Credit On-line Module-Earned Income Credit WEEK 12.Session 23-Refund & Balance Due Session 24-Tac Return Review and Electronic Filing On-Line Module Preparing Amended Returns WEEK 13. Session 25- Practices, Procedures and Ethics Session 26 Final Review On-Line Module Ethics & Due Diligence Requirements
4. 4. *A citizen or resident of the United States must file a federal individual income tax return if they are required to file. *How Do you know if they are required to file? Collecting biographical data is the first critical step to answering the filing question. The type of biographical date that must be collected can be categorized into four key areas. Citizenship and Residency Date of Birth and Age Marital Status DependentsBiographical Data is also used when an individual is required to file a tax return to determine how an individual should report and calculate their tax return entries.
5. 5. A Persons citizenship and residency are important for determining whether and how and individual must file a tax return. Invidividual Taxpayers basically fit into two categories Resident or Non Resident. A non Resident is also referred to as a Alien. There are three categories of Alien and they are; resident, Non Resident, or dual status taxpayer. http://www.irs .gov/pub/irspdf/p519.pdf
6. 6. Generally an individuals age on December 31st determines how old they are for tax purposes. There is an exception to the determination of an individuals age. An individual may be considered 65 on the day before their birthday only if they 65th Birthday is on Jan 1st.ww.irs.gov/pub/irspdf/f1040
7. 7. There are five Standard Filing categories into which individuals can fit The categories are Most taxpayers Dependent taxpayers Children Self-Employed Individuals Aliens If an individual does not meet their categories filing requirements there are situations when they still need or should file a tax return. The two other categories that cover these situations are Others required to file and others that should file.
8. 8. Community Property When calculating gross income to determine filing requirements, community property rules when all of the following are true for the taxpayer. Married Lives in a Community Property State Does not file a joint return withArizona, Idaho, Californi a ,Louisiana, Nevada, New Mexico, Texas, Washingt on, and Wisconsin are Community Property States For more information on Community Property rules see IRS Publication 17 part 1
9. 9. Dependents must file if their unearned or gross income meets the corresponding threshold amounts for their marital status, age, and blindness. Unearned , earned and gross Income only refers to the income of the dependent individual even if their filing status is MFJ and their spouse had income.Gross income is taxable earned income plus taxable unearned incomeTo further determine if a tax payer is considered blind for tax purposes refer to tax publication 17 part 5 Standard Deductions and Itemized deductions.
10. 10. If You have further questions please contact Dona Farmer at 540-583-0845 donafarmer@ymail.com Or Lauren Cappello 540-589-5161 Lmicianocappello@yahoo.comhttps://www.facebook.com/pages/JacksonHewitt-in-Virginia/208631722630141Lauren Summary