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Chartered Tax Professional

GES 219 -- 180 hours

Course Outline

    I. Individual Income Tax Preparation

    a. Basic Income Tax Course
    i. Electronic Filing
    ii. W-2 & 1099 Forms
    iii. Form 1040 (1040 EZ/A)
    iv. Interview Techniques
    v. Filing Requirements
    vi. Filing Status
    vii. Exemptions & Dependents
    viii. Earned Income Tax Credit
    ix. Due Diligence
    x. Child Care & Tax Credits
    xi. Interest & Dividends
    xii. Other Income
    xiii. Adjustments to Income
    xiv. Moving Expenses
    xv. Itemized Deductions

    b. Intermediate Income Tax Course
    i. Employee Business Expenses
    ii. Sale of Real Estate
    iii. Depreciation: MACRS & ACRS
    iv. Self-Employment
    v. Filing Requirements
    vi. Rental Property
    vii. Capital Gains & Losses
    viii. Education Expenses & Plans
    ix. Education Tax Benefits
    x. IRAs & Retirements Plans
    xi. Ethics
    xii. Kiddie Tax
    xiii. Taxpayer Relief Act of 1977
    xiv. Tax Saving Ideas
    xv. Alternative Minimum Tax
    xvi. Office-in-Home
    xvii. Injured & Innocent Spouse
    xviii. Penalties
    xix. Extensions
    xx. Amended Returns

    c. Advanced Income Tax Course – Level I
    i. Earned Income Credit
    ii. Clergy
    iii. Investments
    iv. At Risk Rules
    v. Passive Activities
    vi. Injured/Innocent Spouse
    vii. Tax/Special Credits
    viii. COGS/Business Start-Up
    ix. Depreciation
    x. Amortization
    xi. Section 179
    xii. Employee Business Expense
    xiii. Office in Home
    xiv. Auto Expenses
    xv. Self-Employment Tax
    xvi. Statutory Employees
    xvii. Capital Gains/Losses
    xviii. Basis of Property
    xix. Sale of Stock
    xx. Installment Sales
    xxi. Rental Properties
    xxii. K-1s/1099s
    xxiii. Sale of Business Property
    xxiv. Estimated Taxes
    xxv. Extensions

    d. Advanced Income Tax Course – Level II
    i. Amended Tax Returns for Individuals
    ii. Special Needs and Concerns of Seniors
    iii. Tax Issues for High Income Taxpayers
    iv. Net Operating Losses
    v. Schedule D - Special Issues
    vi. Tax Issues for Divorced Taxpayers
    vii. Tax Planning Tips and Strategies
    viii. Responding to the IRS
    ix. Part-year Resident State Tax Preparation Principles
    x. Nonresident Alien Returns - Form 1040NR

    II. Small Business Income Tax Preparation

    a. Introduction to Small Business Tax Preparation
    i. Business Types
    ii. Accounting Methods
    iii. Financial Statements
    iv. Business Income
    v. Schedule C
    vi. COGS/Inventory
    vii. Depreciation
    viii. Section 179 Deduction
    ix. Contractor vs. Employee
    x. Sale of Business Property
    xi. Partnerships
    xii. Corporations - C, S, LLC
    xiii. Employee Taxes
    xiv. Excise Taxes
    xv. Estate Taxes
    xvi. Extensions
    xvii. Estimates
    xviii. Employee Benefits
    xix. Retirement Plans

    b. Small Business Income Tax Course – Level II
    i. Understanding the Balance Sheet
    ii. Partnership Issues
    iii. Corporation Issues
    iv. General Business Credits
    v. Tax Issues Related to Buying a Business
    vi. Sale or Liquidation of Business
    vii. Profit or Loss From Farming - Schedule F
    viii. Amended or Corrected Business Returns
    ix. What to Do When You Owe the IRS?
    x. Tax Preparation for Non-profits: 501(c)(3), 501(c)(4), 501(c)(6), etc.