Online Career Training
Tax Preparation Course
5
Online Tax Preparation Class Outline
Why choose NYICD?

Every year, individuals, families and businesses seek out the expertise of trained professionals to help them prepare their tax returns.

After completing our tax preparation course, you’ll become one of the experts they’re looking for.

Course Description

The tax preparation class will teach you all the skills necessary to file federal tax returns for individuals and businesses. From completing tax forms to managing scheduling, you’ll know all applicable tax codes and requirements. Not only that, our course prepares you for the National Bookkeepers Association Tax Certification Exam. Adding this industry-recognized certification will ensure that you stand out from others in the field.

Tax Preparation Course Outline

Unit 1: Filing Status and Income Basics

1.1 Concepts in Small Business and Self-Employment  

In Lesson 1.1: Concepts in Small Business and Self-Employment, you’ll be introduced to the Top 10 Traits of Entrepreneurs, so you can see how many of these qualities you already possess and how many you’ll need to develop. You’ll be provided with information on a host of resources to further your study, including websites, books, communities, videos, mentors, advisors, technology, software, and live chats with experts.

1.2 Career and Tax Overview and Filing Status  

In Lesson 1.2: Career and Tax Overview and Filing Status, we will give you overview and introduce you to the opportunities in tax preparation. We will also introduce you the filing statuses that taxpayers can use and the rules relating to each of them.

1.3 Income, Part 1  

The purpose of Lesson 1.3: Income, Part 1 is to introduce you to the various types of taxable and nontaxable income including compensation, fringe and educational benefits, interest and dividends, and miscellaneous income.

1.4 Income, Part 2  

In Lesson 1.4: Income, Part 2, we will introduce you to the different types of retirement instruments and their taxability. We’ll review the tax rules relating to contributions, distributions, rollovers, and inheritance transfers. Additionally, we will discuss the rules associated with Social Security and its taxability.

Unit 2: Property Income and Deductions

2.1 Income, Part 3  

In Lesson 2.1: Income, Part 3, we will go over how to properly classify different types of property and how these different classifications are taxed. We will also discuss real estate rentals, royalties, and the rules relating to their taxability. In addition, we will also discuss passive activities and the rules that limit the deduction of losses on these types of activities.

2.2 Deductions, Part 1  

In Lesson 2.2: Deductions, Part 1, we discuss AGI deductions, the standard deduction, and some itemized deductions. Additionally, we will cover many of the tax deductions that are itemized deductions.

2.3 Deductions, Part 2  

Lesson 2.3: Deductions, Part 2 will cover casualty and theft losses and involuntary conversions, examine job and miscellaneous expenses, explore travel and entertainment expenses, and review personal exemptions.

Unit 3: Small Business Clients and Returns Filing

3.1 Returns for Self-Employment and Small Business  

In Lesson 3.1: Returns for Self-Employment and Small Business, we will cover business income and expenses. We’ll discuss self-employment income and expenses and examine retirement and medical plans for the self-employed. In addition, you’ll learn how to calculate self-employment tax.

3.2 Tax Calculation, Payment, and Filing  

The purpose of Lesson 3.2: Tax Calculation, Payment, and Filing is to educate you in calculating income tax, claiming tax credits, filing a return, and the IRS audit process. Additionally, we will explain how tax credits can reduce tax liability.

What You Get

  • Instant access to high-quality course materials
  • One-to-one mentorship from a professional in the field
  • Video training featuring tips from industry veterans
  • Certification preparation materials including free practice tests

NYICD offers tax preparation classes so that you can gain the independence that comes with a new career. Study anytime, anywhere at your own pace and get certified in a matter of months. Call 1-800-239-9275 or enroll online today.