Tax Saver Series (Standard Vs. Itemized) Deductions - 2019
5.0 (1 rating)
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Tax Saver Series (Standard Vs. Itemized) Deductions - 2019

Wanted to Save more on PERSONAL TAXES from 2019 onwards under New Tax Reform? Get TaxStrategy for fraction of the cost.
5.0 (1 rating)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
10 students enrolled
Created by Grapeson Wilson
Last updated 2/2019
English
English
Current price: $16.99 Original price: $24.99 Discount: 32% off
5 hours left at this price!
30-Day Money-Back Guarantee
This course includes
  • 44 mins on-demand video
  • 8 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • How to make decision to go for standard deduction or itemized deduction in a given year
  • Key steps to be taken and tax planning tips for saving tens, hundreds or even thousands of dollars in taxes
  • The most crucial line item on your Individual Tax Return (Form 1040) to save the most money
  • The Case study to ponder your thoughts on renting vs. buying a home under new tax reform
  • Avoid surprise by identifying whether you will be saving taxes or paying more in taxes under the new tax reform?
  • Become familiar with few of the new tax forms
Requirements
  • All Levels
Description

Do you have any fear or confusion about new tax reform called Tax Cuts and Jobs Act of 2017? Are you curious to dive deeper into it and formulate few strategies for maximizing your tax deductions on a personal level? How you could be legally eligible for a tax deduction of $12,000 to $24,0000 without spending a dime? For almost 12 years I have helped individuals, professionals, and small to medium size business owners, just like you in tax accounting, tax preparation, tax planning & tax resolution. This course is designed to take you through the same journey as some of my clients would go. I have seen a glowing face when I shared some of these tax tips about to share with you. Hope you also would have the same experience. This one line item on Form 1040 will affect millions of taxpayers across United States under the new tax reform. But you’re ahead of the game by joining with me now. 

I will respond to your queries within the scope of the content discussed (ONLY) in this course at the Q&A section on a weekly basis up until October 10, 2019. Please look for new course series after that as you are well aware about the fact that tax law changes quite often.


Disclaimer:This course is designed for educational purpose only and sold with the understanding that the instructor is not engaged in rendering, legal, tax, accouting or other similar professional services.  If legal, tax advice or other expert advice required, the services of a competent professional person should be sought. While the legal, tax and accounting issues discussed in this material have been reviewed with sources believed to be reliable, concepts discussed can be affected by changes in the law or in the interpretation of such laws since this was published. For that reason, the accuracy and completeness of this information and the instructor's opinions based thereon cannot be guaranteed. In addition, state or local tax laws and procedural rules may have a material impact on the general discussion. As a result, the strategies suggested may not be suitable for every individual. Before taking any action, all references and citations should be checked and updated accordingly.Any accounting, business or tax advice contained in this communication is not intended as a thorough, in-depth analysis of specific issues, nor a subtitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. Results could vary based on individual situations. You would be responsible for your own decisions and actions, or consult with your own tax advisor.

Who this course is for:
  • Taxpayers who wants super simple way of learning few key concepts behind standard deduction and itemized deductions.
  • A U.S. Person who has an obligation to file individual income tax return
Course content
Expand all 37 lectures 43:56
+ Welcome to the TAX ARENA !!!
7 lectures 10:56
One Key Phrase
01:10
One Key Strategy
01:18
Internal Revenue Code Section Test
01:16
Practice Key Strategy: Illustration 1
00:43
Illustration 1 Answer Key
00:28
+ Differentiate between Standard Deduction Vs. Itemized Deduction
8 lectures 08:18
Key Concepts
00:37
Tax Planning on one line Item on Form 1040
00:57
Cash vs. Non-Cash
01:45
Tax Table for Standard Deduction
00:31
Standard Deduction Eligibility
01:02
Additional Standard Deduction for Aged and Blind
02:13
Conclusion
00:32
+ Medical Expense
6 lectures 09:15
Elements of Medical Expense
00:50
Adjusted Gross Income Explained; Myth Resolved
04:31
Tax Planning Strategy: Actionable Step #1
01:33
Deductibility of Medical Expense
00:23
+ Taxes Paid
5 lectures 04:29
Elements of Taxes Paid
01:06
Multiple Effects of Taxes Capped at $10K
01:01
Tax Planning Strategy: Actionable Step #2
01:29
Conclusion
00:35
+ Gifts to Charity
6 lectures 03:59
Introduction
00:19
Charitable Contribution Defined
00:48
Overview of Charitable Contributions
00:18
Tax Planning Strategy: Actionable Step #3
01:47
Maximizing Charitable Contributions
00:30
Conclusion
00:17
+ Real Life Application
5 lectures 06:59
Case Study: Joe & Gina - Buying vs. Renting a Home
03:06
Tax Planning Strategy: Actionable Step #4
00:39
Conclusion
00:38