QuickBooks Online: Streamline US Tax Deductions
What you'll learn
- Master Mileage Tracking: Learn to log miles for tax deductions and understand relevant laws.
- Master Home Office Deductions: Learn to track home office expenses for tax benefits.
- Efficient Receipt Management: Learn to capture, upload, and manage receipts in QuickBooks.
- Optimize US Income Tax: Leverage QuickBooks to manage and optimize tax obligations.
- Hands-on Experience: Get practical QuickBooks experience with real-world examples.
- Understand US Tax Law: Gain an understanding of U.S. income tax law as it relates to automobile deductions & home office deductions
Requirements
- None
Description
Welcome to "Mastering QuickBooks Online for US Income Tax Optimization" - your one-stop course for leveraging QuickBooks Online to efficiently manage and optimize your income tax obligations. Designed for freelancers, small business owners, and anyone seeking a robust understanding of QuickBooks Online in the context of U.S. income tax law, this comprehensive course offers practical insights and hands-on exercises to help you become proficient in using QuickBooks for your tax needs.
Key Learning Objectives:
1. Master Mileage Tracking Tool: QuickBooks Online's Mileage Tracking tool can significantly simplify your automobile-related tax deductions. We'll break down the process of logging and categorizing miles, while also explaining the intricacies of tax law related to automobile deductions. This practical understanding can be crucial for maximizing your automobile deductions and ensuring tax compliance.
2. Explore Home Office Deductions: Learn how to accurately track home office expenses for income tax deductions. The course includes a comparison of different methods, along with a comprehensive review of the relevant tax laws. By the end of this section, you'll be able to select and implement the most beneficial method for your specific situation.
3. Track and Upload Receipts: Discover how to capture, upload, and manage your receipts in QuickBooks Online. We'll also demonstrate how to use these receipts to record transactions or attach them to existing transactions. This module will significantly enhance your record-keeping skills, making tax season less daunting.
Who this course is for:
- Freelancers: Those who manage their own taxes and are looking for ways to maximize deductions.
- Small Business Owners: Those who need to navigate U.S. income tax law and manage their financial records efficiently.
- Accountants and Bookkeepers: Professionals who work with freelancers and small businesses, and want to enhance their skills in QuickBooks Online.
- Tax Consultants: Those wanting to offer their clients more value by understanding how to optimize income taxes using QuickBooks Online.
- Individuals Planning to Start a Business: Those who want to understand income tax optimization before starting their own venture.
- Students in Finance or Accounting: Those wanting to augment their studies with practical knowledge and understanding of a commonly used financial tool.
- Anyone Handling Personal Finances: Individuals seeking better ways to manage and track their expenses for tax purposes.
Instructor
- 4.4 Instructor Rating
- 51,504 Reviews
- 902,173 Students
- 149 Courses
Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.
Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).
Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.
In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible.
Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks.
Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business.
Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster.
Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts.
The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video.
Mr. Steele makes learning accounting accessible by making use of technology and partnering with teaching platforms that have a vision of spreading knowledge like Udemy.