Taxaccounting Course
Tags: Tax Preparation
Finally, an easy to understand tax accounting course. Taxes explained step by step.
Last updated 2022-01-10 | 4.7
- Describe and apply the tax law- Distinguish between Tax Avoidance and Tax Evasion
- Identify the social
- poltical
- and economic factors influencing the tax law
What you'll learn
* Requirements
* Basic Accounting Rules (Accounting 101)* Positive attitude
* Get ready to take notes
Description
- Describe and apply the tax law
- Distinguish between Tax Avoidance and Tax Evasion
- Identify the social, poltical, and economic factors influencing the tax law
- Contrast Primary and Secondary Sources
- Research the tax law and apply the appropriate procedures
- Know the statutes of limitations and penalties imposed
- Interpret the tax formula and its components
- Determine personal and dependency exemptions
- Determine the filing status of a taxpayer
- Identify a qualifying child and a qualifying relative
- Interpret multiple support agreements
- Understand the special rules for dependents
- Identify what is included in gross income
- Differentiate between legal income and accounting and economic income
- Apply the constructive receipt doctrine
- Apply the assignment of income doctrine
- Apply the economic benefit doctrine
- Identify the items specifically excluded from gross income
- Contrast between deduction and exclusions
- Treatment of fringe benefits
- Deductions FOR and FROM AGI
- Apply trade or business deductions
- Deductions for losses
- Understand the rules for limitations of deductions
- Identify the disallowed deductions
- At Risk rules and passive activity losses
- Material VS. Active Participation
- Casualty and Theft Losses
- Rules for Net Operating Losses
- Know the rules for Hobby Losses, Home Office Expenses, Vacation Home Expenses
- Apply the rules for itemized deductions and the appropriate treatment
- Treatment of charitable contributions
- Various credits available
- Determine realized and recognized gains and losses
- Determine adjusted basis of property
- Determine adjusted basis of property (Gift and Inheritance)
- Differentiate between ordinary, capital , and 1231 assets
- Determine the holding period
- Rules for determining taxable income (Capital Gains and Losses)
- Rules for Section 1231 Assets (Section 1245 and Section 1250)
- Depreciation Recapture
- Tax Accounting (Methods, Rules, Accounting Periods)
Course content
11 sections • 31 lectures
Introduction to the course Preview 01:12
Learn more about the course.
Tax Formula and Components Preview 02:42
This is the tax formula. It all comes down to this.
Tax Formula Quiz
Personal and Dependency Exemptions Preview 04:38
Determine if a dependent qualifies for an exemption.
Exemptions Quiz
Exemptions Exercises Preview 07:49
Time to apply the knowledge we learned.
Practice and Procedures Preview 03:44
Tax practice, procedures, and penalties.
Reference Materials and Procedures Preview 05:11
Learn about the tax reference materials used and their hierarchy.
Gross Income - Items Included Preview 07:52
Identify the items included in gross income.
Gross Income - Items Excluded Part 1 Preview 03:24
Items that are specifically excluded from gross income - Part 1
Gross Income - Items Excluded Part 2 Preview 04:30
Items that are specifically excluded from gross income - Part 2
Gross Income: Application of Knowledge - Part 1 Preview 04:21
Time to apply the knowledge we learned.
Gross Income: Application of Knowledge - Part 2 Preview 01:43
Time to apply the knowledge we learned.
General Concepts about Deductions Part 1 Preview 05:22
Learn the general concepts about deductions. (Trade or business activities)
General concepts about Deductions Part 2 Preview 04:20
Which deductions are allowed? Which deductions can a taxpayer take?
Limitations and Disallowed Deductions Preview 01:50
Which deductions are disallowed? What are the limitations in regards to the deductions?
Deductions - Application of Knowledge Preview 04:30
Time to apply what we learned about deductions.
Business and Investment Losses Preview 02:50
Business casualty and theft losses. Net operating losses. Hobby losses. Home office expenses. Vacation home expenses.
Passive Activity Losses Preview 05:35
Business and investment losses and passive activity losses.
Passive Activities and At-Risk - Application of Knowledge Preview 03:26
It is time to apply your knowledge of business and passive activity losses.
Itemized Deductions Preview 07:01
Learn everything about itemized deductions. Item by item, step by step.
Itemized Deductions - Application of Knowledge Preview 03:26
Time to apply what you learned about itemized deductions.
Realized VS. Recognized Gains and Losses; Determination of Basis Preview 05:25
Disposing of a property, realized and recognized gains and losses, and the appropriate tax treatment.
Gains and Losses - Application of Knowledge Preview 03:56
It is time to apply what you learned about realized and recognized gains and losses when disposing of capital assets.
Classification of Assets; Holding Period; Baskets of Gains and Losses Preview 03:37
Ordinary, capital and 1231 assets. Holding period and various baskets used in the tax law.
Knowledge Application - Part 1 Preview 02:46
Time to apply what you learned about asset classification.
Section 1231 Assets (Section 1245 and 1250 Recapture Rules) Preview 04:45
What are section 1231 assets? What about section 1245 and section 1250 assets? What are the recapture rules?
Knowledge Application - Part 2 Preview 04:35
Time to apply what you learned about Section 1231 Assets.
Conclusion and Thank You! Preview 01:11
Conclusion of the course.
This course includes:
- 2 hours on-demand video
- Access on mobile and TV
- Certificate of completion
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