Tax Preparation and Law 2021, 2021, 2019 & 2018 - Income Tax (Udemy.com)

Income tax preparation Form 1040 and supporting schedules taught by a Certified Public Accountant (CPA)

Created by: Robert (Bob) Steele

Produced in 2021

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What you will learn

  • Income Tax Preparation & Law
  • How to complete at tax return
  • How to calculate taxes using a tax formula
  • Describe what dependents are any why they are important
  • Explain the concept of filing status and the impact on taxes
  • List item included and not included in gross income
  • Describe and list deduction for AGI or above the line deductions
  • Explain and list itemized deductions and how they relate to the standard deduction
  • Explain the tax calculation using a progressive tax system
  • Describe credits including the child tax credit, earned income credit, and education credits

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Quality Score

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Overall Score : 90 / 100

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Course Description

We are in the process of updating this course for 2021 take year to be filed in 2021. Current students will have access to the updates. We are very grateful for all the feedback and support we have received for this course from colleagues and learners. Income tax preparation and understanding for the years 2021, 2021, 2019, & 2018 including presentations, downloadable PDF files, practice problems, & and comprehensive problems with step by step instructions, answer keys, and materials. The course will introduce the concept of income tax, tax law, and how it is formatted. We will provide practical examples at every step along the way, giving learners visuals of how the system works, and practice problems to apply the concepts. The course will walk through the steps of filling out a tax form. The tax forms can be thought of as a kind of income statement or a tax formula. We will break down the formula into its components so that we can digest each small peace at a time. We will discuss the concept of filing status and dependents and how they affect the tax formula. The course will discuss what is included and not included in gross income for taxes. Items included in the gross income calculation may be subject to taxation. Items not included in gross income for taxes will not be subject to tax. We will discuss adjustments for adjusted gross income, often called above the line deductions. The course will cover the primary above the line deductions and provide practical examples of calculations. The course will discuss itemized deduction reported on schedule A. We will discuss the primary itemized deductions and provide practical examples of each. We will discuss the reporting of self-employment taxes using Schedule C and the related issues including self-employment tax (social security and Medicare) and the new 20% deduction many small businesses will be eligible for. The course will discuss the calculation of capital gains using Schedule D. We will provide practical examples of the calculation of capital gains. We will discuss the reporting of rental property using Schedule E and provide examples of reporting rental property. The course will discuss various credits including child tax credit, earned income credit, and education credits and provide examples of each. The course will have comprehensive problems allowing learners to work through the process of filling out a full tax return in a step by step process. Learners can use PDF tax forms provided in the course and available at the IRS website. We also work the problem using the accounting equation and provide learners pre-formatted Excel worksheet to follow along with this process.
Who this course is for:
Anybody who wants to learn tax lawAnybody who wants to understand how to fill out taxesTax and accounting students who want better explanation and practical examples of tax concepts using software, forms, and worksheets instead of just words

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Instructor Details

Robert (Bob) Steele

Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.
Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelors Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).
Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.
In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, a

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Reviews

4.5

221 total reviews

5 star 4 star 3 star 2 star 1 star
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By Angela Marie Gleydura on 11/22/2020

I really like the no nonsense approach. I took a course years ago and it was just so time consuming and confusing at times...so far, so good!

By Kirk DiGiacomo on 11/15/2020

I do not know yet. Seems good so far.

By Kimberly Crossland on 11/15/2020

So far!

By Gabla Brownell on 11/15/2020

not only teaches the subject matter clearly but also prepares you to grasp the understanding which is important to becoming excellent at what you do.

By Jean Wildes on 11/15/2020

Not very interesting and not really learning much

By KinaMichelle on 11/8/2020

Desktop computer with search of video instruction would be helpful

By David M on 11/1/2020

Detailed Explanation, easy to understand

By Marie Sheila on 10/23/2020

I like how all the informations are showing on the screen where I can still take notes.

By Hilda Osorio on 10/20/2020

The explanation is optimal, and the key makes me alert about the topic. Very helpful!

By Sandhya Sathenapalli on 10/17/2020

GOOD

By Gary Dur on 10/12/2020

VERY GOOD INTRO

By Moses S. Karaeng on 10/10/2020

I think it is interesting and add up my tax knowledge. Globally to count the personal Tax income I thinks is match.