Course DescriptionDevelop 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 CTEC and OBTP-approved online course includes a tax business start-up guide.
- General material
- Standard deduction and exemptions
- Interest and dividend income
- Earned income credit
- Tax credits (child care and others)
- Retirement income and other types of income
- Adjustments to income
- Electronic filing
- Employee business expense and miscellaneous itemized deductions
- Education tax benefits
- Capital gains and losses
- Depreciation and disposition of business property
- Self-employment income
- Rental property
- Farm income
- Alternative minimum tax, less common credits and penalties
- Payments, extensions and amended returns
- Ethics and responsibilities of tax professionals
Upon completion, participants will be able to:
- Prepare most business and non-business individual tax returns.
- Perform a thorough interview with a taxpayer.
- Determine a taxpayer's filing status and eligibility for exemptions.
- Accurately report income and deductions for a taxpayer.
- Determine a taxpayer's eligibility for credits and deductions.
- Compute income for Schedules C, E and F.
- Determine depreciation deductions and eligibility for Section 179.
- Accurately calculate a taxpayer's refund or balance due.
- Advise a taxpayer in tax-planning strategies.
Participants will have six months to complete this course.
Internet Connectivity Requirements:
- Cable and DSL internet connections are recommended.
- 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.
- 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.