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
