Are you a Newcomer to the tax field? Are you seeking to strengthen your understanding of current tax law changes?
Perhaps you've been in practice for decades
and just want a fun refresher to update
skills, learn some tricks and make
your tax practice more profitable!
This course is for those who wish to learn tax without taking the EA Exam.Solving the Tax Puzzle, Part I (Individual Taxation)
is based on the Internal Revenue Code in effect for tax returns for current year filings. But, the fundamental information you will learn is eternal. Only the limits change annually to confuse the taxpayers...(or to account for inflation).
The course will include TaxMama's special twists, teaching you more than tax law - you'll learn:
- How to draw clients out and get information from them
- How to protect your practice from client conflicts and lawsuits
- How to maintain an ethical practice, in the face of client ‘persuasion’ to assist them in little falsehoods
- How to find loopholes to help cut taxes legally
- How to find the information you need to address a client’s issues
- How to prepare an individual tax return – from inception to filing
Each week, students will receive an email with two lessons; each will include:
- A written lecture (may be printed out)
- An audio lecture (may be downloaded to an MP3 player)
- Client profile with additional data to build your sample tax return
- Discussion report - a compilation of student questions and e-mails received since the last class pertaining to lecture material and the sample tax returns
- Links to forms and resources for the lesson
- Orientation – Familiarity with Materials Homework assignments and Study Buddy arrangements
- Lecture 1 - The big Picture – Overview of the U.S. tax return
- Lecture 2 - First piece – Exemptions & Filing Requirements & Names
- Lecture 3 - Favorite piece – Income – Interest, Dividends, Social Security Income, Retirement Income
- Lecture 4 - Juicy piece – Overview of Adjustments to Income
- Lecture 5 - Sample piece – Reviews of the Tax Return Samples 1, 2, 3.
- Lecture 6 - Misunderstood piece- Itemized Deductions and Employee Business Expenses
- Lecture 7 - Special piece – Credits, Additional Taxes
- Lecture 8 - Giving piece – Estate and Gift Taxes
- Lecture 9 - Missing piece – Understanding Basis
- Lecture 10 – Political piece – Understanding Depreciation
- Lecture 11 – Making your piece – Fundamentals of Capital Gains & Losses
- Lecture 12 – Extra piece – More Sales and Exchanges
- Free tax preparation software including free electronic filing to use for practice returns or real returns
- TaxMama’s® Ebook, The 100% Home-Based Business Tax Solution
- 24/7 Study hall with links to key part 1 materials
- Access to study buddies and study buddy teams
You will get data from sample clients to input into your own tax software or forms. You will get profiles of different types of clients, with respective levels of complexity.