Tax Preparation and Law 2023

Tax Preparation and Law 2023 - 2024

Unlock Tax Filing Confidence with Practical Examples; Step-by-Step Instructions in this Comprehensive Income Tax Course

Buy $125.00

Course curriculum

1. 1010 Why & How To Learn Tax Law
2. 1020 Methods & Tools for Learning Tax Law
3. 1030 Tax Software Options
4. 1040 Free Tax Tool
5. 1050 Tax Types or Categories
6. 1070 Marginal & Average Tax Rates
7. 1080 Marginal & Average Tax Rates Example
8. 1090 Income Tax Formula
9. 1100 Software Income Tax Formula Example
10. 1110 Tax Law & Tax Authority
11. 1120 Circular 230 Regulations Governing Practice Before IRS
12. 1130 Affordable Care Act - What you Need to Know
1. 1135 What's New
2. 1145 Do You Have To File
3. 1155 When and Where Should You File
1. 1500 Create a Tax Formulate Worksheet Using Excel Part 1
2. 1505 Tax Formula Worksheet Using Excel Part 2
1. 2010 Filing Status
2. 2020 Filing Status Definitions
3. 2025 Filing Status Definitions Example
4. 2030 Name & Address
5. 2040 Social Security Number (SSN)
1. 2050 Standard Deduction
2. 2055 Tax Software Standard Deduction
1. 2060 Who Qualifies as Your Dependent
2. 2072 Who Qualifies as Your Dependent - Definitions and Special Rules
3. 2080 Who Qualifies as Your Dependent Example
1. 3005 Income Reporting Forms, Concepts, & Overview
2. 3010 Taxable Income Overview
3. 3080 Income Line 1 Including W-2 Wages & Tip Income
4. 3100 W-2 Income Example
5. 3120 Interest Income
6. 3140 Interest Income Example
7. 3160 Dividend Income
8. 3180 Dividend Income Example
9. 3200 IRA Distributions
10. 3205 IRA Distributions Example
11. 3240 Pensions & Annuities
12. 3244 Pensions & Annuities Example
13. 3260 Social Security Benefits
14. 3262 Social Security Benefits Example
15. 3280 Taxable Refunds, Credits, or Offsets of State and Local Income Taxes
16. 3282 Taxable Refunds, Credits, or Offsets of State and Local Income Taxes Exampl
17. 3300 Alimony Received
18. 3302 Alimony Received Example
19. 3320 Business Income or Loss & Other Gains or (Losses)
20. 3322 Business Income or Loss & Other Gains or (Losses) Example
21. 3340 Unemployment Compensation
22. 3342 Unemployment Compensation Example
23. 3350 Other Income Part 1
24. 3352 Other Income Part 1 Software
25. 3354 Other Income Part 2
26. 3356 Other Income Part 2 Software
27. 3360 Capital Gain or (Loss)
28. 3362 Capital Gain or (Loss) Example
1. 4010 Educator Expenses
2. 4012 Educator Expenses Example
3. 4030 Certain Business Expenses of Reservists, Performing Artists, and Fee-Basis
4. 4032 Certain Business Expenses of Reservists, Performing Artists, and Fee-Basis
5. 4050 HSA, Moving Expenses, Deductible Part of Self-Employment Tax, & Self-Employ
6. 4052 HSA, Moving Expenses, Deductible Part of Self-Employment Tax, & Self-Employ
7. 4070 Self-Employed Health Insurance Deduction
8. 4072 Self-Employed Health Insurance Example
9. 4100 Alimony & IRA Deduction
10. 4107 Alimony & IRA Deduction Example
11. 4120 Student Loan Interest Deduction
12. 4122 Student Loan Interest Deduction Expense
13. 4140 Health Savings Account (HSA) Deduction
14. 4142 Health Savings Account (HSA) Deduction Example
15. 4150 Other Adjustments to Income
16. 4155 Other Adjustments to Income Example
1. 5010 Itemized Deduction Overview
2. 5012 Itemized Deduction Overview Software
3. 5030 Medical and Dental Expenses Part 1
4. 5042 Medical and Dental Expenses Software Example
5. 5044 Taxes You Paid Overview
6. 5045 Itemized Deductions - State and Local General Sales Taxes
7. 5047 Itemized Deductions - State and Local Real Estate Taxes
8. 5049 Itemized Deductions - Property Taxes & Other Taxes
9. 5054 Itemized Deductions - Taxes You Paid Example
10. 5070 Itemized Deductions – Interest You Paid
11. 5072 Itemized Deductions – Home Mortgage Interest
12. 5092 Itemized Deductions - Interest You Paid Example
13. 5140 Itemized Deductions - Gifts to Charity Overview
14. 5142 Itemized Deductions - Charity Gifts by Cash or Check & Other Than by Cash
15. 5162 Itemized Deductions - Gifts to Charity Example
16. 5200 Itemized Deductions -Casualty and Theft Losses
17. 5240 Itemized Deductions - Other Itemized Deductions
18. 5242 Other Itemized Deductions & Casualty and Theft Losses Example
1. 6020 Sch. C Impact on Tax Return Example
2. 6040 Are You Self-Employed
3. 6060 Business Owned and Operated by Spouses
4. 6062 Business Owned & Operated by Spouses Example
5. 6080 Self Employed-What You Need to Know
6. 6100 Sch. C What’s New for 2023 & Reminders
7. 6130 Small Business - How to Pay Income Tax
8. 6140 Self-Employment (SE) Tax
9. 6142 Self-Employment (SE) Tax Example
10. 6160 Employment Taxes
11. 6162 Employment Taxes Example
12. 6180 Excise Taxes
13. 6200 Information Returns
14. 6220 Accounting Periods
15. 6240 Accounting Methods Overview
16. 6260 Cash Method
17. 6280 Accrual Method
18. 6300 Combination Accounting Method
19. 6305 Uniform Capitalization Rules & Changes in Accounting Method
20. 6380 Dispositions of Business Property
21. 6382 Dispositions of Business Property Example
22. 6400 Business Credits
23. 6420 Business Income Part 1
24. 6425 Business Income Part 2
25. 6452 Items That Are Not Income
26. 6453 Guidelines for Selected Occupations
27. 6455 Accounting for Your Income
28. 6490 How To Figure Cost of Goods Sold
29. 6495 Figuring Gross Profit
30. 6497 Cost of Goods Sold & Gross Profit Example
31. 6520 Business Expenses Introduction
32. 6525 Business Expenses Bad Debts
33. 6530 Business Expense Car and Truck Expenses
34. 6532 Business Expenses Car and Truck Expenses Example
35. 6534 Depreciation Overview
36. 6535 Depreciation – What’s New, Resources, & Property that can and Cannot be Dep
37. 6536 Depreciation Timing & Method
38. 6537 What Method Can You Use To Depreciate Your Property
39. 6541 Repairs and Improvements
40. 6543 Electing the Section 179 Deduction Overview
41. 6544 Electing the Section 179 How Much Can You Deduct
42. 6545 Electing the Section 179 Deduction How Do You Elect the Deduction
43. 6547 Electing the Section 179 Deduction - When Must You Recapture the Deduction
44. 6564 Section 179 Deduction Example
45. 6566 Special Depreciation Allowance Overview
46. 6567 Special Depreciation Allowance - How Much Can You Deduct
47. 6568 Special Depreciation Allowance - How Can You Elect Not To Claim an Allowanc
48. 6569 Special Depreciation Allowance - When Must You Recapture an Allowance
49. 6578 Figuring Depreciation Under MACRS Introduction
50. 6580 MACRS Depreciation - Which Property Class Applies Under GDS
51. 6582 MACRS Depreciation - What Is the Basis for Depreciation
52. 6584 MACRS Depreciation - Which Recovery Period Applies
53. 6586 MACRS Depreciation - Which Convention Applies
54. 6588 MACRS Depreciation - Which Depreciation Method Applies
55. 6590 MACRS Depreciation - How Is the Depreciation Deduction Figured Part 1
56. 6592 MACRS Depreciation - How Is the Depreciation Deduction Figured Part 2
57. 6594 MACRS Depreciation - How Is the Depreciation Deduction Figured Part 3
58. 6596 MACRS Depreciation - How Is the Depreciation Deduction Figured Part 4
59. 6605 MACRS Depreciation - General Asset Accounts
60. 6610 When Do You Recapture MACRS Depreciation
61. 6650 Depreciation Listed Property - Introduction
62. 6655 What Is Listed Property
63. 6665 Listed Property - What Is the Business-Use Requirement Part 1
64. 6666 Listed Property - What Is the Business-Use Requirement Part 2
65. 6670 Listed Property - Do the Passenger Automobile Limits Apply
66. 6700 Business Expense Employees’ Pay
67. 6705 Business Expense Insurance
68. 6707 Business Expenses Insurance & Payroll Expense Example
69. 6710 Business Expenses Interest
70. 6715 Business Expenses Legal and Professional Fees
71. 6720 Business Expenses Pension Plans
72. 6723 Business Expenses Pension Plans Example
73. 6725 Business Expenses Rent Expense
74. 6740 Business Use of Your Home - Qualifying for a Deduction
75. 6745 Business Use of Your Home - Figuring the Deduction Part 1
76. 6746 Business Use of Your Home - Figuring the Deduction Part 2
77. 6750 Business Use of Your Home - Using the Simplified Method
78. 6755 Business Use of Your Home - Daycare Facility
79. 6760 Business Use of Your Home Example
80. 6765 Other Common Expenses & De Minimis Safe Harbor for Tangible Property
81. 6770 Expenses You Cannot Deduct, Net Profit or Loss, & Operating Losses (NOLs)
82. 6772 Net Profit or Loss, & Operating Losses (NOLs) Example
83. 6775 Self-Employment (SE) Tax - Who Must Pay SE Tax Part 1
84. 6776 Self-Employment (SE) Tax - Who Must Pay SE Tax Part2
85. 6778 Reporting Self-Employment Tax Example
86. 6780 Qualified Business Income Deduction
87. 6785 Qualified Business Income Deduction Example
1. 7020 Tax Calculation – Line 16
2. 7250 Small Business - How to Pay Income Tax Example
3. 7260 Payments
4. 7262 Small Business - How to Pay Income Tax Example
1. 8020 Credits for Qualifying Children and Other Dependents Overview
2. 8022 Credits for Qualifying Children and Other Dependents - Specific Instruction
3. 8125 Child Tax Credit and Other Dependent Credit Example
4. 8220 Earned Income Tax Credit (EIC) Overview
5. 8240 Earned Income Tax Credit (EIC) No Children Example
6. 8242 Earned Income Tax Credit (EIC) One Child Example
7. 8244 Earned Income Tax Credit (EIC) Two Child Example
8. 8246 Earned Income Tax Credit (EIC) Three or More Children Example
9. 8520 Child & Dependent Care Expenses Credit Overview
10. 8525 Child & Dependent Care Expenses Credit - Can You Claim the Credit Part 1
11. 8527 Child & Dependent Care Expenses Credit - Can You Claim the Credit Part 2
12. 8530 Child _ Dependent Care Expenses Credit - How To Figure the Credit Part 1
13. 8532 Child & Dependent Care Expenses Credit - How To Figure the Credit Part 2
14. 8535 Child & Dependent Care Expenses Credit - Do You Have Household Employees
15. 8610 Child & Dependent Care Expenses Credit Married
16. 8710 Education Credits Overview
17. 8730 American Opportunity Credit – Introduction
18. 8732 American Opportunity Credit- Can You Claim the Credit
19. 8734 American Opportunity Credit - What Expenses Qualify Part 1
20. 8735 American Opportunity Credit - What Expenses Qualify Part 2
21. 8736 American Opportunity Credit - Who Is an Eligible Student
22. 8737 American Opportunity Credit - Who Can Claim a Dependent's Expenses
23. 8739 American Opportunity Credit - Figuring the Credit
24. 8750 Lifetime Learning Credit
25. 8754 Lifetime Learning Credit - What Expenses Qualify
26. 8835 Education Credit Example
1. 9010 Residential Rental Property Introduction
2. 9030 Residential Rental Property - Rental Income and Expenses (If No Personal Us
3. 9032 Residential Rental Property - Rental Income and Expenses (If No Personal Us
4. 9034 Residential Rental Property - Rental Income and Expenses (If No Personal Us
5. 9042 Residential Rental Property - Rental Income and Expenses (If No Personal Us
6. 9060 Depreciation of Rental Property Part 1
7. 9062 Depreciation of Rental Property Part 2
8. 9115 Depreciation of Rental Property Example
9. 9150 Reporting Rental Income, Expenses, and Losses - Overview
10. 9152 Reporting Rental Income, Expenses, and Losses – Limits on Rental Losses
11. 9153 Reporting Rental Income, Expenses, and Losses - Casualties & Thefts
12. 9155 Reporting Rental Income, Expenses, and Losses Example
13. 9200 Rental Property - Special Situations - Condominiums, Cooperatives, & Peroperty Changed to Rental Use
14. 9204 Rental Property - Special Situations REnting Part of Property, Not Rented for Profit, & Example of Change to Rental Use
15. 9300 Renatl Property - Persoanl Use - Dividing Expenses
16. 9302 Rental Property - Personal Use - Dwelling Unit Used as a Home & Reporting Income & Deductions
17. 9310 Personal Use of Dwelling Unit (Including Vacation Home) Example

About this course

$125.00
223 lessons
95 hours of video content

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.