Microsoft Project 2021 Beginner to Advanced Course Bundle

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

Created by: Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI

What Will I 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.

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.

Target audience

• 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.