Income Tax Preparation

Learn how prepare income tax returns for yourself and others!
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  • Lectures 15
  • Length 1.5 hours
  • Skill Level Beginner Level
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 12/2013 English

Course Description

Welcome to Accounting Essential’s basic income tax preparation course.You are about to embark on a challenging and rewarding task. The purpose of this course is to give you the basic tools and knowledge to be able to prepare your own tax return or even prepare returns for others.This training will introduce you to the major components of an individual income tax return allowing you to prepare and complete an accurate return. The course is broken down into 15 sections, including the introduction and bonus content.

What are the requirements?

  • Willingness to learn

What am I going to get from this course?

  • Get you familiarized with essential tax froms and worksheets
  • Help you gain general tax knowledge
  • Provide you with the tools to begin your tax preparation journey

Who is the target audience?

  • Accounting students
  • Individuals looking to begin a career in taxes
  • Individuals with a general interest in taxes

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: The Basics

The purpose of this lesson is to get you familiarized with essential tax forms and worksheets, help you gain general tax knowledge, and provide you with the confidence to prepare tax returns accurately.


This lesson will help you determine which taxpayers must or should file a tax return. You will also find information on how to verify a taxpayer's identity, which form to use, and how long taxpayers must keep their records.


This lesson is designed to teach tax preparers how to determine the appropriate and most beneficial filing status for the taxpayer.


This lesson is design to help you be able to distinguish between the two types of exemptions and determine who can claim the each exemption.

Section 2: Income and Deductions
At the end of this lesson you will be able to distinguish between taxable and nontaxable income and know where they go on the tax return.
This lesson will enable you to determine the standard deduction amount for taxpayers and how to compute and report taxable income and income tax.
This lesson will discuss the child and dependent care expense tax credit, who is eligible for the credit, what are the requirements to take the credit.
Section 3: Tax Credits
This lesson will give you the knowledge to determine who qualifies for an education credit and which of the two types of education credits can be claimed.
The purpose of this lesson is to give you the tools to determine which taxpayers are eligible for the child tax credit and the additional child tax credit.
This lesson will cover the following miscellaneous tax credits: retirement savings contribution, credit for the elderly or the disabled, and the mortgage interest credit.
Section 4: Taxes and Payments
This lesson will enable you to be able to identify the types of other taxes, determine who is liable for other taxes, and determine how to report these taxes.
When this lesson is completed you will be able to identify types of payments and credits that are applicable for most low- and moderate-income taxpayer and report these payments and credits correctly.
This lesson covers who is eligible for the earned income credit and how to calculate the credit.
This lesson covers how to calculate, report, and receive tax refunds and how to calculate report, and pay tax balances due.
Section 5: Bonus Content
This is a bonus to the Basic Tax Income Course. I provided some useful resources that will help you in journey to prepare income tax returns.

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Instructor Biography

Accounting Essentials, Tax Basics: A Beginner's Guide to Income Taxes.

Ms. Galloway is and accountant with over 10 years experience in the field and the owner of Accounting Essentials, LLC. She currently holds a BA in accounting and an MBA with a concentration in accounting. Ms. Galloway specializes in tax, bookkeeping, and small business accounting.

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