Course curriculum

    1. Education Tax Credits & Education Tax Benefits 2018 2019 Overview Think

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    2. Documents to Download for Reference

    1. PDF - 505 What’s New

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    2. 505 What’s New

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    3. PDF - 508 Reminders

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    4. 508 Reminders

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    5. PDF - 511 Scholarships, Fellowship Grants, Grants, and Tuition Reductions Introduction

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    6. 511 Scholarships, Fellowship Grants, Grants, and Tuition Reductions Introduction

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    7. PDF - 514 Scholarships and Fellowship Grants

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    8. 514 Scholarships and Fellowship Grants

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    9. PDF - 517 Tax-Free Scholarships and Fellowship Grants

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    10. 517 Tax-Free Scholarships and Fellowship Grants

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    11. PDF - 521 Reporting Scholarships and Fellowship Grants

    12. 521 Reporting Scholarships and Fellowship Grants

    13. PDF - 525 Other Types of Educational Assistance

    14. 525 Other Types of Educational Assistance

    15. PDF - 528 Veterans' Benefits

    16. 528 Veterans' Benefits

    17. PDF - 532 Qualified Tuition Reduction

    18. 532 Qualified Tuition Reduction

    19. Accounting Comic Break

    1. PDF - 605 Reminders

    2. 605 Reminders

    3. PDF - 608 Introduction

    4. 608 Introduction

    5. PDF - 611 Table-Overview of Credit

    6. 611 Table-Overview of Credit

    7. PDF - 614 Can You Claim the Credit

    8. 614 Can You Claim the Credit

    9. PDF - 617 American Opportunity Credit Who Can't Claim the Credit

    10. 617 American Opportunity Credit Who Can't Claim the Credit

    11. PDF - 621 What Expenses Qualify

    12. 621 What Expenses Qualify

    13. PDF - 624 Table - Can You Claim the Credit

    14. 624 Table - Can You Claim the Credit

    15. PDF - 627 Qualified Education Expense

    16. 627 Qualified Education Expense

    17. PDF - 631 No Double Benefit Allowed

    18. 631 No Double Benefit Allowed

    19. PDF - 636 Adjustments to Qualified Education Expenses

    20. 636 Adjustments to Qualified Education Expenses

    21. PDF - 641 Adjustments to Qualified Education Expenses Examples

    22. 641 Adjustments to Qualified Education Expenses Examples

    23. PDF - 644 Expenses That Don't Qualify

    24. 644 Expenses That Don't Qualify

    25. PDF - 647 Who Is an Eligible Student

    26. 647 Who Is an Eligible Student

    27. PDF - 651 Table - Who Is an Eligible Student

    28. 651 Table - Who Is an Eligible Student

    29. PDF - 655 Who Can Claim a Dependent’s Expenses

    30. 655 Who Can Claim a Dependent’s Expenses

    31. PDF - 658 Figuring the Credit

    32. 658 Figuring the Credit

    33. PDF - 661 Effect of the Amount of Your Income on the Amount of Your Credit

    34. 661 Effect of the Amount of Your Income on the Amount of Your Credit

    35. PDF - 664 Refundable Part of Credit

    36. 664 Refundable Part of Credit

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    1. PDF - 705 Introduction

    2. 705 Introduction

    3. PDF - 708 Can You Claim the Credit

    4. 708 Can You Claim the Credit

    5. PDF - 711 Who Can't Claim the Credit

    6. 711 Who Can't Claim the Credit

    7. PDF - 714 What Expenses Qualify

    8. 714 What Expenses Qualify

    9. PDF - 717 Qualified Education Expenses

    10. 717 Qualified Education Expenses

    11. PDF - 721 No Double Benefit Allowed

    12. 721 No Double Benefit Allowed

    13. PDF - 725 Adjustments to Qualified Education Expenses

    14. 725 Adjustments to Qualified Education Expenses

    15. PDF - 728 Coordination with Pell grants and other scholar-ships

    16. 728 Coordination with Pell grants and other scholar-ships

    17. PDF - 729 Examples – Include or Exclude Scholarship in Income

    18. 729 Examples – Include or Exclude Scholarship in Income

    19. PDF - 731 Expenses That Don't Qualify

    20. 731 Expenses That Don't Qualify

    21. PDF - 735 Who Can Claim a Dependent's Expenses

    22. 735 Who Can Claim a Dependent's Expenses

    23. PDF - 738 Figuring the Credit

    24. 738 Figuring the Credit

    25. PDF - 741 Effect of the Amount of Your Income on the Amount of Your Credit

    26. 741 Effect of the Amount of Your Income on the Amount of Your Credit

    27. Accounting Comic Break

    1. PDF - 802 Can You Claim the Deduction

    2. 802 Can You Claim the Deduction

    3. PDF - 803 Figuring the Deduction

    4. 803 Figuring the Deduction

    5. PDF - 804 Effect of the Amount of Your Income on the Amount of Your Deduction

    6. 804 Effect of the Amount of Your Income on the Amount of Your Deduction

    7. PDF - 805 Student Loan Interest Defined

    8. 805 Student Loan Interest Defined

    9. PDF - 809 Qualified Education Expenses

    10. 809 Qualified Education Expenses

    11. PDF - 812 Adjustments to Qualified Education Expenses

    12. 812 Adjustments to Qualified Education Expenses

    13. PDF - 816 Include as Interest

    14. 816 Include as Interest

    15. PDF - 819 Allocating Payments Between Interest and Principal

    16. 819 Allocating Payments Between Interest and Principal

    17. PDF - 823 Don't Include as Interest

    18. 823 Don't Include as Interest

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    1. PDF - 905 Introduction

    2. 905 Introduction

    3. PDF - 908 What Is a Coverdell ESA

    4. 908 What Is a Coverdell ESA

    5. PDF - 912 Qualified Education Expenses

    6. 912 Qualified Education Expenses

    7. PDF - 915 Contributions

    8. 915 Contributions

    9. PDF - 918 Contribution Limits

    10. 918 Contribution Limits

    11. PDF - 921 Additional Tax on Excess Contributions

    12. 921 Additional Tax on Excess Contributions

    13. PDF - 924 Rollovers and Other Transfers

    14. 924 Rollovers and Other Transfers

    15. PDF - 927 Distributions

    16. 927 Distributions

    17. PDF - 930 Coordination With American Opportunity and Lifetime Learning Credits

    18. 930 Coordination With American Opportunity and Lifetime Learning Credits

    19. PDF - 933 Coordination With Qualified Tuition Program (QTP) Distributions

    20. 933 Coordination With Qualified Tuition Program (QTP) Distributions

    21. Accounting Comic Break

About this course

  • $20.00
  • 140 lessons
  • 9.5 hours of video content

Pricing options

Explain how different pricing options might be valuable to different segments of your audience.

Description

This education tax credits & education tax benefits course will discuss tax benefits related to education, focusing on education tax credits including the American Opportunity Tax Credit and the Lifetime Learning tax credit.

The course will describe the benefits of the American Opportunity Tax Credit, giving practical examples using actual tax forms. As we learn the concepts of the American Opportunity tax credit, we will run examples and scenarios using tax software and tax forms to get a feel of how the credit reacts to different tax circumstances.

We will describe the benefits of the Lifetime Learning Tax Credit, giving practical examples using actual tax forms. As we learn the concepts of the Lifetime Learning tax credit, we will run examples and scenarios using tax software and tax forms to get a feel of how the credit reacts to different tax circumstances.

The course will discuss how the American Opportunity tax credit and Lifetime Learning tax credit interact with each other and how to maximize tax benefits.

We will discuss the deduction for student loan interest, describing circumstances where student loan interest is deductible, and giving practical examples using tax forms.

The course will discuss the tax benefits of a Coverdell Education Savings Accounts (ESA). We will consider how a Coverdell Education Savings Accounting (ESA) is set up, the tax benefits, and tax consequences of distributions. The course will also discuss how the Coverdell Education Saving Account (ESA) works or coordinates with education credits like the American Opportunity tax credit and Lifetime Learning tax credit.

We will discuss the tax benefits of a Qualified Tuition Program (QTP). We will discuss how a Qualified Tuition Program (QTP) is set up, the tax benefits, and tax consequences of distributions. The course will also explain how the Qualified Tuition Program (QTP) works or coordinates with education credits like the American Opportunity credit and Lifetime Learning credit.

What you’ll learn

  • List Education Tax Credits and Education Tax Benefits
  • Describe the American Opportunity Tax Credit
  • Explain the Amount of Tax Benefit for the American Opportunity Tax Credit
  • Complete Tax Documentation Related to the American Opportunity Tax Credit
  • Describe the Lifetime Learning Tax Credit
  • Explain the Amount of Tax Benefit for the Lifetime Learning Tax Credit
  • Complete Tax Documentation Related to the Lifetime Learning Tax Credit
  • Describe Tax Benefits For Student Loan Interest Deduction
  • Complete Tax Documentation Related to the Student Loan Interest Deduction
  • Describe Tax Benefits For Coverdell Education Savings Account (ESA)
  • Complete Tax Documentation Related to the Coverdell Education Savings Account (ESA)
  • Describe Tax Benefits For Qualified Tuition Program (QTP)
  • Complete Tax Documentation Related to the Qualified Tuition Program (QTP)

Are there any course requirements or prerequisites?

  • Some understanding of US income tax law

Who this course is for:

  • Anybody who wants to save on taxes
  • Tax professionals

Robert (Bob) Steele CPA CGMA CPI MStax

Instructor

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.