Advanced Income Tax Preparation Level 1

Hours: 30 / Access Length: 4Months / Delivery: Open, Mentor Supported

Retail Price: $500.00

Course Overview:

Students will study Earned Income Tax Credit (EIC or EITC), clergy income and investments. The course continues with a more in-depth study of employee business expenses, Schedules C and E, at-risk rules and passive activities. Upon completion the student will be able to assist individual taxpayers with more in-depth 

• Prior tax preparation experience/knowledge is required.
• This course is designed to enhance the knowledge and experience of tax practitioners.
• Students normally enroll in this Course after completing the Comprehensive Income Tax Class and working at least one season as a tax preparer.
• This course will give you the confidence to take on more complex returns by reinforcing your existing tax knowledge and building on it.
• This course is also suitable for a veteran preparer who needs to refresh his/her skills.
• If you are an enrolled agent, accountant, lawyer, financial planner, business owner, experienced tax preparer, or just interested in increasing your tax knowledge, the Advanced Course will enable you to prepare more complex individual tax returns.
• This course provides the critical education and knowledge which make the graduates more competent and successful than their competitors.

Benefits of Becoming a Tax Professional

• Recession-resistant career
• Seasonal and flexible schedule - PT or FT hours
• Work for a firm or start your own business
• Enjoy a career servicing the needs of your clients
• Emphasis on problem solving and interpersonal skills
• Reduce your own tax liability
• Income potential is unlimited

Course Outline:

• Office in Home
• Earned Income Credit 
• Clergy 
• Investments 
• At Risk Rules 
• Passive Activities 
• Injured/Innocent Spouse 
• Tax/Special Credits 
• COGS/Business Start-Up 
• Depreciation 
• Amortization 
• Section 179 
• Employee Business Expense 
• Auto Expenses 
• Self-Employment Tax 
• Statutory Employees 
• Capital Gains/Losses 
• Basis of Property 
• Sale of Stock 
• Installment Sales 
• Rental Properties 
• K-1s/1099s 
• Sale of Business Property 
• Estimated Taxes 
• Extensions

All necessary materials are included.

System Requirements:

Internet Connectivity Requirements:

• Cable, Fiber, DSL, or LEO Satellite (i.e. Starlink) internet with speeds of at least 10mb/sec download and 5mb/sec upload are recommended for the best experience.

NOTE: While cellular hotspots may allow access to our courses, users may experience connectivity issues by trying to access our learning management system.  This is due to the potential high download and upload latency of cellular connections.   Therefore, it is not recommended that students use a cellular hotspot as their primary way of accessing their courses.

Hardware Requirements:

• CPU: 1 GHz or higher
• RAM: 4 GB or higher
• Resolution: 1280 x 720 or higher.  1920x1080 resolution is recommended for the best experience.
• Speakers / Headphones
• Microphone for Webinar or Live Online sessions.

Operating System Requirements:

• Windows 7 or higher.
• Mac OSX 10 or higher.
• Latest Chrome OS
• Latest Linux Distributions
  

NOTE: While we understand that our courses can be viewed on Android and iPhone devices, we do not recommend the use of these devices for our courses. The size of these devices do not provide a good learning environment for students taking online or live online based courses.

Web Browser Requirements:

• Latest Google Chrome is recommended for the best experience.
• Latest Mozilla FireFox
• Latest Microsoft Edge
• Latest Apple Safari

Basic Software Requirements (These are recommendations of software to use):

• Office suite software (Microsoft Office, OpenOffice, or LibreOffice)
• PDF reader program (Adobe Reader, FoxIt)
• Courses may require other software that is described in the above course outline.