Be a Tax Expert 9-Course Certification Bundle

Form 1065 is a vital tax document for business partnerships stating its profits, losses, deductions, and credits. This course will put together a systematic format of entering data into a Form 1065 that will minimize errors, isolate problems as they happen, and remove the possibility of having to start the process all over again. Using a comprehensive problem, it will show the data input process, M-1 adjustment, data review, and more using Excel worksheets and Lacerte Tax software.

• Access 21 lectures & 4 hours of content 24/7
• Enter tax data for a Partnership into Form 1065
• Use an Excel worksheet to support tax data input
• Enter & track M-1 adjustments and Schedule K adjustments

This course currently consists of a comprehensive problem showing the data input process of an S Corporation tax return into Form 1120S. With 20 lectures, this class covers Form 1120S format, M-1 adjustments, and reducing potential mistakes. The course will demonstrate how to enter the data into the tax forms in stages using an Excel worksheet and Lacerte Tax software. The tax forms can also be found on the IRS website.

• Access 20 lectures & 3 hours of content 24/7
• Use an Excel worksheet & a tax software to support tax data input for an S corporation
• Enter & track M-1 adjustments and Schedule K adjustments
• Enter & review data for Form K-1
• Know the comparison of social security & Medicare tax between an S corporation and a Schedule C Sole Proprietorship

With 24 lectures, this course will demonstrate how to enter the data into the tax 1120 forms in stages to reduce potential mistakes and to identify mistakes as they happen so they can be fixed as easily as possible. It will cover doing data input and entering M-1 adjustments using both Excel worksheets and Lacerte tax software. PDF files of tax forms are also provided so you can enter data directly into the tax forms as the lectures go.

• Access 24 lectures & 5 hours of content 24/7
• Enter tax data for a C Corporation into Form 1120
• Minimize errors, isolate problems & remove the possibility of having to start the process all over again
• Enter & track M-1 adjustments
• Do data input using Excel worksheets & Lacerte tax software

This 9-hour course will discuss who is required to file a Schedule C for small business income and who is self-employed. Understand what self-employment tax is, how to calculate it, and how to report it. The course will cover which tax forms a self-employed business will generally need to file and how the forms are related to each other, using actual tax forms as an example. Understand the different accounting methods and periods, business income, and components of the cost of goods sold. The course will also discuss many common business expenses including car, depreciation, employee's pay, insurance, and rent deductions.

• Access 112 lectures & 9 hours of content 24/7
• Understand the new tax changes related to small businesses
• Know what self-employment tax is, how to calculate it & how to report it
• Learn different accounting methods & periods including the cash method and the accrual method
• Know what is included in business income and the types of business income
• Understand the components of cost of goods sold & how to calculate the cost of goods sold

The Income Tax: Business Use of Home Deduction course will discuss how you can qualify to take deductions for the business use of your home. With 4 hours of instruction, it will show how to calculate the business use of home deduction using actual expenses. It will explain rules specific to a daycare facility and run scenarios related to a daycare facility. You'll learn how to use the simplified method to calculate the business use of your home deduction and compare and contrast the simplified method to the actual expenses method. The course will also discuss how the business use of your home deduction could affect the sale or exchange of your home and deductions for business furniture and equipment.

• Access 45 lectures & 4 hours of content 24/7
• Learn tax benefits of the business use of your home deduction
• Know to calculate the business use of your home deduction
• Learn how & when to use the simplified method to calculate the business use of your home deduction
• Know the best practices for recordkeeping related to the business use of your home deduction

This education tax credits and education tax benefits course will discuss tax benefits related to education, focusing on education tax credits including the American Opportunity Tax Credit and the Lifetime Learning tax credit. The course will describe the benefits of the American Opportunity Tax Credit, giving practical examples using actual tax forms. This 9-hour course will also discuss the deduction for student loan interest, describing circumstances where student loan interest is deductible. You will also learn the tax benefits of a Coverdell Education Savings Accounts (ESA) and a Qualified Tuition Program (QTP) and how they work with education credits.

• Access 144 lectures & 9 hours of content 24/7
• Know the benefits of the American Opportunity Tax Credit & try practical examples using actual tax forms
• Learn how the Lifetime Learning Tax Credit reacts to different tax circumstances
• Know how the American Opportunity tax credit & Lifetime Learning tax credit interact with each other and how to maximize tax benefits
• Understand the deduction for student loan interest & the circumstances where student loan interest is deductible
• Learn how a Coverdell Education Savings Account (ESA) & Qualified Tuition Program (QTP) works w/ education credits

This 3-hour course will discuss how you can calculate the gain or loss on a home sale. With an example of a closing statement, you'll learn how to pull information from it to calculate the gain or loss while using accompanying Excel worksheets and example calculations. The course material will also use an example problem as a reference point while moving forward, zooming into specific parts of the calculation when applicable. You'll also delve into different scenarios that can complicate calculating home sale gain or loss such as the home being destroyed, condemned, received in a divorce, received as a gift or inherited.

• Access 37 lectures & 3 hours of content 24/7
• Understand the tax consequences of a home sale
• Know the requirements to qualify for an exclusion of gain
• Learn how to calculate the taxable amount & the gain or loss of home sale

This course will provide a detailed look at some important tax credits, including a discussion of the amount of each tax credit and the qualifications to take it. In this course, you will be able to use tax software and forms to show how the tax credits are input into the tax forms and to test variations in qualifications for the tax credits including income limitations. Using tax software to experiment with different scenarios is a very effective way to learn about how tax credits actually operate.

• Access 188 lectures & 14 hours of content 24/7
• Get a detailed look at & understand how tax credits work
• Get knowledge on the amount of the tax credits & the qualifications to take the tax credits
• Use tax software & forms to show how the tax credits are input into the tax forms

QuickBooks Pro is one of the best accounting and bookkeeping tools available on the market and is used by small- to mid-sized businesses across the world. This comprehensive course will provide an understanding of QuickBooks Pro 2020 in a format that's perfect for beginners & will continue to advanced topics. This course will go far beyond simple data entry, explaining how the software works in a clear step by step format. Accounting students and professionals will find much value in the course as it takes theory concepts and applies them to the practical processes of using accounting software.

• Access 175 lectures & 30 hours of content 24/7
• Enter data related for a full accounting cycle into QuickBooks Desktop
• Generate reports, read reports, format reports & export reports to Excel
• Understand accounting cycles related to revenue, purchases & payroll
• Enter period end adjusting entries into QuickBooks