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Tax Preparation and Law
Rating: 4.1 out of 5(3,481 ratings)
23,580 students

Tax Preparation and Law

Unlock Tax Filing Confidence with Practical Examples; Step-by-Step Instructions in this Comprehensive Income Tax Course
Created byRobert (Bob) Steele
Last updated 5/2026
English

What you'll learn

  • Analyze tax laws to accurately determine income tax obligations and compliance requirements.
  • Apply tax formulas and calculations to calculate taxable income with precision and optimize deductions.
  • Evaluate the impact of different filing statuses on tax liabilities and identify the most advantageous option.
  • Assess various components of gross income for tax purposes, ensuring comprehensive and accurate reporting.
  • Apply above-the-line deductions to adjust income effectively, maximizing tax benefits.
  • Calculate and optimize itemized deductions, including mortgage interest, medical expenses, and charitable contributions.
  • Understand self-employment tax reporting using Schedule C and utilize the 20% small business deduction effectively.
  • Calculate capital gains and losses using Schedule D, considering applicable tax rates and holding periods.
  • Accurately report rental property income and expenses using Schedule E, optimizing deductions and depreciation.
  • Evaluate eligibility and navigate the complexities of tax credits, such as the child tax credit, earned income credit, and education credits.
  • Solve complex tax scenarios and address common tax challenges through comprehensive problem-solving exercises.

Course content

35 sections • 511 lectures • 193h 36m total length

  • 1010 Why & How To Learn Tax Law16:15
  • 1020 Methods & Tools for Learning Tax Law20:33
  • 1030 Tax Software Options11:37
  • 1040 Free Tax Tool24:22
  • 1050 Tax Types or Categories22:36
  • 1070 Marginal & Average Tax Rates18:05
  • 1080 Marginal & Average Tax Rates Example24:11
  • 1090 Income Tax Formula32:30

    Explore the 1090 income tax formula and how it determines tax obligations. Understand the key elements of calculating tax under this framework.

  • 1100 Software Income Tax Formula Example33:30
  • 1110 Tax Law & Tax Authority13:18
  • 1120 Circular 230 Regulations Governing Practice Before IRS22:25
  • 1130 Affordable Care Act - What you Need to Know32:18

Requirements

  • Familiarity with basic arithmetic operations and calculations
  • Proficiency in using a computer and navigating software applications.
  • Willingness to engage in self-directed learning and problem-solving.

Description

Are you looking for a comprehensive income tax preparation course? Look no further! This course is your ultimate resource, providing you with presentations, downloadable PDF files, practice problems, and comprehensive step-by-step instructions.

As an updated course, current students will have access to all the latest information and updates for the tax seasons. We greatly value the feedback and support we've received from our colleagues and learners, which has helped us enhance the course content and make it even more valuable.

Starting with the basics, this course introduces the concept of income tax and tax law, explaining how it is formatted. Through practical examples and visuals, we break down the tax system, providing you with a clear understanding of each component. You'll have the opportunity to apply the concepts through practice problems that simulate real-world scenarios.

Step by step, we'll guide you through the process of filling out a tax form, helping you understand the tax formula. We'll delve into important topics like filing status, dependents, and their impact on the tax formula. Additionally, we'll cover what is included and not included in gross income, discussing the taxation implications for each category.

You'll also learn about adjustments for adjusted gross income (above the line deductions), exploring primary deduction categories and their calculations. Itemized deductions reported on Schedule A will be thoroughly discussed, providing practical examples to enhance your understanding.

For individuals with self-employment income, we'll cover the reporting of self-employment taxes using Schedule C. We'll address self-employment tax, including social security and Medicare, as well as the eligibility criteria for the 20% deduction available to many small businesses.

Calculating capital gains using Schedule D will be demystified through practical examples, ensuring you grasp the intricacies of this topic. Furthermore, we'll guide you through reporting rental property using Schedule E, offering examples to simplify the process.

The course also covers various tax credits, such as the child tax credit, earned income credit, and education credits. You'll gain a comprehensive understanding of each credit and explore practical examples.

Join us on this comprehensive journey to become proficient in income tax preparation. Enroll now and gain the knowledge and confidence needed to handle your taxes accurately and effectively.

Note: This course is designed for United States tax filers.

Who this course is for:

  • Individuals interested in pursuing a career in tax preparation or accounting.
  • Small business owners who want to accurately report their income and deductions.
  • Students studying accounting, finance, or related fields.
  • Professionals who need to enhance their knowledge of income tax laws for their job roles.
  • Individuals who want to gain confidence in preparing their own income tax returns.
  • Anyone seeking to expand their financial literacy and understanding of personal finance.

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