Fundamentals of PowerTax - Open Enrollment

This course goes through a systematic approach for processing the cycle of tax compliance using PowerTax. There is an emphasis on controls and data/system integrity as well as using the system effectively. The book to tax processing is discussed, including data from the Tax Repairs module.

Topics:

• Data Organization and Navigation
• Maintaining Tax Accounts
• Calculating Tax Basis, Depreciation and Gain/Loss
• Pre-Processing Issues
• Effective Use of Cases
• Preparing Cases for New Activity
• Loading Activity Using Interfaces
• Loading Activity Using Import Tool
• Reporting

Objectives:

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

• Operate and navigate PowerTax
• Demonstrate understanding of PowerTax and the systems capabilities
• Demonstrate understanding of PowerTax data and data organization
• Demonstrate the ability to incorporate new activity into the system
• Review data and verify results

Intended Audience:

New users/managers of the system who require an understanding of depreciation functionality and the overall use of the PowerTax Software.

Additional Information:

Prerequisites: Familiarity with tax depreciation concepts.

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group Internet Based

CPE Credits = 16 credits possible (Tax)

Virtual class schedule will be as follows:

The class on May 12-15, 2025 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

In order to be awarded the full credits for the GIB training session, participants must be present the entire training session and respond to 48 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.

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