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Course Description

Get the skills needed to prepare tax returns for most Form 1040 individual, non-business taxpayers and small business taxpayers (self-employed/Schedule C) and learn how to research tax issues. This online course is CTEC and OBTP-approved.

Course Outline

 

  • Chapter 1: General Material
  • Chapter 2: Standard Deduction and Exemptions
  • Chapter 3: Income
  • Chapter 4: Interest and Dividend Income
  • Chapter 5: Earned Income Credit
  • Chapter 6: Tax Credits — Child Care and Others
  • Chapter 7: Retirement Income and Other Types of Income
  • Chapter 8: Adjustments to Income
  • Chapter 9: Itemized Deductions
  • Chapter 10: Electronic Filing
  • Chapter 11: Employee Business Expense and Miscellaneous Itemized Deductions
  • Chapter 12: Education Tax Benefits
  • Chapter 13: Capital Gains and Losses
  • Chapter 14: Depreciation and Disposition of Business Property
  • Chapter 15: Self-Employment Income
  • Chapter 16: Rental Property
  • Chapter 17: Farm Income
  • Chapter 18: Alternative Minimum Tax, Less Common Credits and Penalties
  • Chapter 19: Payments, Extensions and Amended Returns
  • Chapter 20: Ethics and Responsibilities of Tax Professionals

Learner Outcomes

Upon completion, participants will be able to:

  • Identify which filing status a taxpayer should use.
  • Understand how to calculate the standard deduction.
  • Identify various types of income such as employee compensation, fringe benefits, tips, alimony and other income.
  • Understand how to report dividend income and nontaxable distributions.
  • Define of earned income for Earned Income Credit.
  • Describe the qualification requirements for various tax credits (Child Tax Credit, Child Care Credit, Credit for the Elderly and Disabled, the Additional Child Tax Credit and Education Credits).
  • Understand requirements for Form 2441.
  • Identify Form 8863, Education Credits.
  • Recognize retirement income, including income from pensions, annuities, Social Security and equivalent retirement benefits.
  • Read Forms 1099-R and SSA-1099.
  • Understand various adjustments to income, including Individual Retirement Arrangements (IRAs—Traditional and Roth) and SIMPLE IRAs.
  • Determine whether standard or itemized deductions are most advantageous for the taxpayer.
  • Describe how to report casualties and thefts and how to complete Form 4684.
  • Describe the various methods for receiving a refund through electronic filing.
  • Differentiate between the Standard Mileage Rate and the Actual Auto Expense methods of tracking auto expenses.
  • Identify who can claim Education Tax Credits.
  • Define the terminology unique to Capital Gains and Losses.
  • Identify the capital gains tax rates.
  • Classify different types of property eligible for depreciation.
  • Differentiate between an independent contractor and statutory employee.
  • Compile and report rental income.
  • Emphasize the becoming an RTRP and maintaining a PTIN.
  • Determine which taxpayers are affected by Alternative Minimum Tax.
  • Describe how to file an amended return.
  • Identify the requirements to practice before the IRS.

Notes

Participants will have six months to complete this course.

System Requirements:

Internet Connectivity Requirements:
  • Cable and DSL internet connections are recommended.
Hardware Requirements:
  • Minimum Pentium 400 Mhz CPU or G3 Macintosh. 1 GHz or greater CPU recommended.
  • 256MB RAM minimum. 1 GB RAM recommended.
  • 800x600 video resolution minimum. 1025x768 recommended.
  • Speakers/headphones to listen to Dialogue steaming audio sessions.
  • A microphone to speak in Dialogue streaming audio sessions.
Operating System Requirements:
  • Windows Vista, 7, 8, 8.1, 9, 10
  • Mac OSX 10 or higher.
  • OpenSUSE Linux 9.2 or higher.
Web Browser Requirements:
  • Google Chrome is recommended.
  • Firefox 13.x or greater.
  • Internet Explorer 6.x or greater.
  • Safari 3.2.2 or greater.
Software Requirements:
  • Adobe Flash Player 6 or greater.
  • Oracle Java 7 or greater.
  • Adobe Reader 7 or greater.
Web Browser Settings:
  • Accept cookies.
  • Disable pop-up blocker.

 

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Section Title
Comprehensive Tax Course with Career Package Certificate (Online)
Type
Discussion/Lecture
Dates
Sep 05, 2018 to Jun 30, 2019
Contact Hours
60.0
Delivery Options
Course Fee(s)
Course Fee non-credit $915.00