Product Description

The program begins with a discussion about income; how to identify and calculate income for support purposes; key components of income; and an understanding of key documents. We dive into and walk through how to read and interpret a personal federal tax return with a focus on how to identify components of income, tax deductions and the meaning behind tax credits. We breakdown the Schedule K-1 (a key schedule for a spouses’ ownership in a passthrough entity). This program provides an overview of business financial statements, equipping you with a comprehensive understanding of the four standard statements:

• Balance Sheet
• Income Statement
• Cash Flow Statement
• Owner or Shareholders’ Equity/Capital Accounts

The program also incorporates a broad-spectrum understanding of business tax returns, including the types of returns for various business entities and key aspects in the differences and similarities between those business entities. A segment focuses on how to interpret a client’s personal and business tax returns and incorporate this information into their court financial statement.

Agenda & Materials

• 9:30am - 9:35am

  Welcome and Introduction

  Marc D. Bello, CPA/ABV, CVA, MAFF, Strive Partners LLC , Burlington
  
• 9:35am - 9:55am

  Basic Concepts in Defining Income

  Marc D. Bello, CPA/ABV, CVA, MAFF, Strive Partners LLC , Burlington
  Wendy O. Hickey, Esq., Brick, Jones, McBrien & Hickey LLP , Needham
  Alexander D. Jones, Esq., Brick, Jones, McBrien & Hickey LLP , Needham
  Daniel R. Young, CVA, MBA, Strive Partners , Burlington
  
• 9:55am - 10:15am

  Case Law & Income

  Panel
  
• 10:15am - 10:40am

  Understanding a Personal Tax Return

  Panel
  
• 10:40am - 11:00am

  Court Form Financial: Schedule A & B

  Panel
  
• 11:00am - 11:10am

  Break
• 11:10am - 11:30am

  Understanding Business Financial Statements

  Panel
  
• 11:30am - 11:50am

  Cash v. Accrual Accounting

  Panel
  
• 11:50am - 12:10pm

  Depreciation

  Panel
  
• 12:10pm - 12:30pm

  Understanding Business Tax Returns

  Panel
  

Special Program Materials:

• Financial Aspects of Divorce in Massachusetts

Please Note

MCLE webcasts are delivered completely online, underscoring their convenience and appeal. There are no published print materials. All written materials are available electronically only. They are posted 24 hours prior to the program and can be accessed, downloaded, or printed from your computer.

Chair

Faculty

Fees

• $202.50 - MCLE Sponsor Member
• $112.50 - New Lawyer
• $112.50 - Pending Admittee
• $112.50 - Law Student
• $112.50 - Paralegal
• $225.00 - All Others

Available FREE with an MCLE OnlinePass^® subscription.