Deferred Tax for PowerTax Users - Open Enrollment

This course is an introduction to deferred tax functionality in PowerTax. It will cover detailed steps and procedures. The focus is on regulated entities and the build-up of deferred income taxes related to bonus depreciation, tax repairs, and mixed service costs. Any company that wants assurance their deferred taxes are on a solid footing, does a full allocation of book depreciation and book activity in calculating deferred taxes, or just wants their staff to have a fundamental understanding of deferred income taxes would benefit from this course.

Topics:

• PowerTax Deferred Tax Module Navigation and Data Organization
• Deferred Tax – Theory and Concepts
• Book Depreciation and Deferred Tax Turnaround
• Book Allocation Setup
• Deferred Tax Schema Assign Window
• Deferred Tax Processing
• Reporting and Verifying Results

Objectives:

At the end of this course, you will be able to:

• Operate and navigate PowerTax Deferred Tax Module
• Demonstrate understanding of deferred tax theory and concepts
• Demonstrate understanding of PowerTax Deferred Tax Module and the systems capabilities
• Demonstrate understanding of PowerTax Deferred Tax Module data and data organization
• Demonstrate the ability to incorporate new activity into the system
• Review data and verify results

Intended Audience:

Any user who wants to understand how to use PowerTax, including the deferred tax functionality.

Additional Information:

Prerequisites: Familiarity with tax depreciation and basic deferred tax concepts.

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group Internet Based

CPE Credits = 8 credits possible (4 Tax-Technical, 4 Accounting-Technical)

For information regarding refund, complaint, and/or program cancellation policies please visit our website

PowerPlan is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.nasbaregistry.org. PowerPlan’s NASBA Sponsor Number is 105404