Tax Accounting Made Easy to Understand
What you'll learn
- Describe and apply the tax law
- Distinguish between Tax Avoidance and Tax Evasion
- Identify the social, poltical, and economic factors influencing the tax law
- Contrast Primary and Secondary Sources
- Research the tax law and apply the appropriate procedures
- Know the statutes of limitations and penalties imposed
- Interpret the tax formula and its components
- Determine personal and dependency exemptions
- Determine the filing status of a taxpayer
- Identify a qualifying child and a qualifying relative
- Interpret multiple support agreements
- Understand the special rules for dependents
- Identify what is included in gross income
- Differentiate between legal income and accounting and economic income
- Apply the constructive receipt doctrine
- Apply the assignment of income doctrine
- Apply the economic benefit doctrine
- Identify the items specifically excluded from gross income
- Contrast between deduction and exclusions
- Treatment of fringe benefits
- Deductions FOR and FROM AGI
- Apply trade or business deductions
- Deductions for losses
- Understand the rules for limitations of deductions
- Identify the disallowed deductions
- At Risk rules and passive activity losses
- Material VS. Active Participation
- Casualty and Theft Losses
- Rules for Net Operating Losses
- Know the rules for Hobby Losses, Home Office Expenses, Vacation Home Expenses
- Apply the rules for itemized deductions and the appropriate treatment
- Treatment of charitable contributions
- Various credits available
- Determine realized and recognized gains and losses
- Determine adjusted basis of property
- Determine adjusted basis of property (Gift and Inheritance)
- Differentiate between ordinary, capital , and 1231 assets
- Determine the holding period
- Rules for determining taxable income (Capital Gains and Losses)
- Rules for Section 1231 Assets (Section 1245 and Section 1250)
- Depreciation Recapture
- Tax Accounting (Methods, Rules, Accounting Periods)
Requirements
- Basic Accounting Rules (Accounting 101)
- Positive attitude
- Get ready to take notes
Description
Learn everything about Tax Accounting in 2 hours.
What are my students saying:
"Much better than my $4,000 graduate course. Very interesting videos with a lot of information. I particularly like the videos for applying what I learned. Those questions are very good for understanding better."
"Thank you for an amazing course. I was so interested in tax accounting (strange, right?) I just kept pushing play. Great videos, very informative and engaging. I was not bored for even a minute. Most importantly, I learned a lot."
"The course is really informative. I like that the lectures are made with very interesting drawings and great visuals, instead of someone reading a power point. Good course."
"This course is very engaging, and surprisingly for a tax accounting, not boring at all. I wish I had courses like this during my college days. High quality videos, great exercises and application. This is a 10 stars course!"
"Wow! I cannot even begin to compare this course to the tax course I am taking at my university. Everything is very well explained, and not one information is omitted. I am so glad I found this course. Much, much easier to understand."
More about this course:
I believe that you should not fall asleep when learning something new. You need to be encouraged and excited instead. In order to be excited about learning, you need to understand easily. I have implemented a new way of teaching. Animated videos which are easy to understand. Learning has never been so exciting.
In this course you will find everything explained with a video lecture. The type of lectures are animated (cartoon) videos that break down the most difficult concepts used in tax accounting.
Depending on your commitment, this course can take you somewhere from a week to few weeks to complete. The curriculum is designed as such, so that you will retain the information you will receive.
Whether you are a business owner, manager, or a student, you need this course. This course will provide you with great tools and information about tax accounting, tax law and its application.
Who this course is for:
- Individuals
- Small business owners
- Sole Proprietors
- CPA Candidates
- Enrolled Agent Candidates
- Accountants
- Bookkeepers
- Students
Instructor
- 4.4 Instructor Rating
- 15,381 Reviews
- 67,060 Students
- 10 Courses
An Accounting Professor, Investor and Entrepreneur who teaches at multiple colleges in the US, including University of Washington. Stefan has also established multiple companies and invested in multiple start-up companies. Additionally, he is the author of the books "Financial Accounting" and "What College Didn't Teach You!". His area of expertise is concentrated in Accounting Forensics, which focuses on financial fraud, creative accounting, and anti-money laundering.
In every course Stefan makes, you will find the difference in teaching. He has his own way of creating interesting videos (less than 5 minutes, of course) in which you will find everything you need to know about a specific topic. The DIFFERENCE is that his videos are fun to watch and will give you the desired "Aha!" moment. You will never forget the information, since each one is very descriptive.
Stefan's classes are very dynamic and make you eager to learn.