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Title: 2023 Tax Preparation Course
Level: Beginner Tax Professional
Delivery Method:
Cost & Payment Options:
Option 1
Full tuition: $425
Option 2
3-Payment Plan:
Deposit $225 - Full Access
2- Payments – $100
Full payment must be made prior to 1st live class
Time Limit **There No Time Limit** to access and complete online course certification
Software Time Limit: 3-Month access to Professional Tax Software
To earn certificate and of completion:
• Pass Final with 70% (or better)
• Complete course survey
15 CE Credits - IRS Approved Course
CE Credits: 10 Federal Tax Law, 3 Federal Tax Updates, 2 Regulatory Ethics
The course is both Live Interactive and self-study. The course is taught using reading, homework assignments, class exercises, practice client interviews, and instructor workshop via Zoom.
3-Month access to Professional Tax Software
Access to Our Verified Tax Pros App
Peer-To-Peer Support
Business Start Up support
Our 2023 Tax Preparation Course is designed to give you the knowledge needed to fulfill IRS requirements and give you a basic understanding of tax law and practice to ensure you serve your clients with the highest quality. This study material has been organized to give line-by-line instructions for Form 1040.
English | Bilingual | Spanish
Chapter 1 – Due Diligence and Penalties
This chapter will cover tax preparer due diligence and penalties. When the taxpayer files a return with refundable credits the tax preparer needs to complete an accurate tax return.
Chapter 2 – Compiling Taxpayer Information
This chapter, the tax preparer will learn how to complete a detailed intake interview, example questions, collect taxpayer’s information needed to prepare an accurate tax return.
Sample questions are provided for each section of the tax return to help the student understand the importance of knowing the “how” to and “why” ask questions to gain the necessary information from the taxpayer.
Chapter 3 – Filing Status Dependents and Deductions
This chapter, offers a review filing status is used to determine filing requirements, standard deduction, correct tax, and taxpayer’s eligibility for certain credits and deductions.
What to Expect:
Chapter 4 – Income
This chapter, the tax preparer will learn to distinguish the different types taxable and nontaxable income, show you where and how to report them on the professional tax return, including:
What to Expect:
Chapter 7 – Payments and Tax Credits
This chapter, the preparer will learn two types of credits: nonrefundable, which cannot reduce tax liability below zero, and refundable, which can reduce tax liability below zero, resulting in the need for a refund.
What to Expect:
Chapter 8 – Itemized Deductions
This chapter, the preparer will learn whether to itemize deductions or use the standard deduction and should choose whichever option is best for their tax situation.
What to Expect:
Chapter 8 – Itemized Deductions
This chapter, the preparer will learn whether to itemize deductions or use the standard deduction and should choose whichever option is best for their tax situation.
What to Expect:
Chapter 9 – Schedule C
This chapter, the preparer will learn how various expenses are used to “adjust” or lower the taxpayer’s income. This lesson will also cover how to subtract certain expenses, payments, contributions, fees, etc. from their total income.
What to Expect:
Chapter 10 – Schedule E
This chapter, the preparer will learn how various expenses are used to “adjust” or lower the taxpayer’s income. This lesson will also cover how to subtract certain expenses, payments, contributions, fees, etc. from their total income.
Chapter 11 – Schedule F
This chapter, the preparer will learn how various expenses are used to “adjust” or lower the taxpayer’s income. This lesson will also cover how to subtract certain expenses, payments, contributions, fees, etc. from their total income.
What to Expect:
Chapter 12 – Depreciation
This chapter, depreciation is an allowance for the wear and tear, decline, or uselessness of a property and begins when a taxpayer places property in service for use in a trade or business.
Chapter 13 – Capital Gains & Losses
This chapter includes how to calculate a short term and/or long-term gain or loss. The preparer will understand holding period and what is a capital asset. Almost everything a taxpayer owns and uses for personal or investment purposes is a capital asset. When a capital asset is sold, the difference between the basis in the asset and the amount the item is sold for is either a capital gain or capital loss.
Chapter 14 – Extensions and Amendments
This chapter, the preparer will learn, If taxpayers are unable to file their federal individual tax returns by the due date, he or she may be able to qualify for an automatic six-month extension of time to file. The taxpayer can either electronically file or mail Form 4868 to the IRS to file for the extension. If the taxpayer has filed a return and realizes that a mistake was made, he or she would file an amended return by using Form 1040-X.
Chapter 15 – Electronic Filing
This chapter, electronic filing (also referred to as E-File and E-filing) is the process of submitting tax returns over the internet via properly-certified tax software. The E-File system has made tax preparation significantly easier, and the IRS notifies software users within 24-48 hours if they accepted or rejected the tax return. E-filing is not available year-round but rather begins sometime in January and ends sometime in October; the IRS determines when exactly e-filing begins and ends each year, and states follow whatever dates the IRS sets. An electronic return originator (ERO) is the individual who originates the electronic submission of the tax return. To file a return electronically, the individual needs to be an Authorized IRS e-File Provider.
What to Expect:
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