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/Group Live

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

Class schedule will be as follows:

The class on May 20-21, 2024 will be held virtually through Zoom from 10:00am-3:00pm(Eastern) each day with a one hour break for lunch from 12:00pm-1:00pm.

The class on October 23, 2024 will be held in person at the Atlanta office from 8:00am-5:00pm with a one hour break for lunch.

In order to be awarded the full credits for the GIB training session, participants must be present the entire training session and respond to 24 polling questions ( or 3 polling questions per hour) asked during this program. Credits will be rounded down to the nearest half credit. Those attending the Group Live session will need to be present and participate the entire session.

We are unable to grant CPE credit in cases where technical difficulties preclude eligibility. CPE Program Sponsorship guidelines prohibit us from issuing credit to those not verified by the technology to have satisfied the minimum requirements listed above.

In Person class schedule will be as follows:

Class will take place 8:00am-5:00pm(Eastern) with a one hour break for lunch from 12:00pm-1:00pm

In order to be awarded the full credits, participants must be present the entire training session. Credits will be rounded down to the nearest half credit. 

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