Tax Preparer Course

Lesson 1 • Role of the Tax Accountant

Outlines professional responsibilities, ethical obligations, and scope of practice. Frames the accountant's duties relative to clients, employers, and regulatory bodies.

Lesson 2 • Tax Calendar and Filing Cycles

Maps the annual compliance timeline including deadlines, extensions, and estimated payments. Students gain the scheduling discipline needed to manage multiple client obligations.

Lesson 3 • Tax Systems and Their Structure

Explains how governments design tax systems and the key distinctions between tax types. Establishes the conceptual map students use throughout the course.

Lesson 1 • Standard and Itemized Deductions

Compares the standard deduction to itemized alternatives and guides the optimal choice. Accurate deduction selection minimizes tax liability within legal limits.

Lesson 2 • Income Identification and Classification

Distinguishes wages, interest, dividends, and other income categories for reporting. Proper classification determines applicable rates and required schedules.

Lesson 3 • Filing Status and Dependency Rules

Covers the criteria for each filing status and the tests for claiming dependents. Correct status selection directly affects tax rates and available deductions.

Lesson 4 • Tax Credits for Individuals

Explains refundable and nonrefundable credits that directly reduce tax owed. Credits often yield greater savings than equivalent deductions and require precise eligibility checks.

Lesson 1 • Accuracy and Penalty Standards

Explains preparer accuracy standards, substantial authority, and reasonable basis thresholds. Meeting the correct standard protects both the preparer and the client from penalties.

Lesson 2 • Correspondence and Notices

Guides students through reading, categorizing, and responding to official tax notices. Timely, accurate responses prevent escalation to audits or collection actions.

Lesson 3 • Research Methodology

Presents a step-by-step process from issue identification through conclusion documentation. A repeatable process ensures thorough, consistent analysis across all research assignments.

Lesson 1 • Sole Proprietorship Taxation

Covers Schedule C reporting, allowable business deductions, and self-employment tax. Builds the foundation for understanding pass-through taxation in more complex entities.

Lesson 2 • C Corporation Taxation

Addresses corporate income computation, dividends-received deduction, and double taxation. Understanding C corp mechanics is essential for advising larger business clients.

Lesson 3 • S Corporation Taxation

Details eligibility requirements, shareholder basis, and reasonable compensation rules. S corps combine liability protection with pass-through taxation, creating unique compliance issues.

Lesson 4 • Entity Selection and Tax Planning

Compares after-tax outcomes across entity types using realistic scenarios. Students develop a structured decision framework for recommending optimal entity structures.

Lesson 1 • Payroll Deposit Rules and Schedules

Explains lookback period rules that determine monthly or semi-weekly deposit frequency. Missed or late deposits trigger penalties that compound quickly for small businesses.

Lesson 2 • Worker Classification

Applies behavioral, financial, and relationship tests to distinguish employees from contractors. Misclassification exposes employers to back taxes, penalties, and interest.

Lesson 3 • Payroll Tax Fundamentals

Introduces employer and employee shares of payroll taxes and wage base limits. Accurate payroll tax computation is a core compliance obligation for every employer.

Lesson 1 • Primary Residence Exclusion

Applies ownership and use tests to exclude gain on the sale of a principal residence. Understanding partial exclusions and exceptions expands planning opportunities for clients.

Lesson 2 • Like-Kind Exchanges

Details the requirements for deferring gain on qualifying real property exchanges. Students learn identification periods, boot recognition, and basis carryover mechanics.

Lesson 3 • Basis Determination and Adjustments

Establishes cost basis rules for purchased, gifted, and inherited property. Correct basis is the starting point for every gain or loss calculation.

Lesson 4 • Depreciation Recapture

Explains how prior depreciation deductions are recaptured as ordinary income on sale. Recapture rules significantly affect after-tax proceeds from business asset sales.

Lesson 1 • Retirement Plan Strategies

Compares pre-tax and after-tax retirement vehicles and their impact on current and future liability. Optimal plan selection depends on current rates, expected future rates, and liquidity needs.

Lesson 2 • Income Timing and Deferral

Applies cash and accrual method rules to shift income and deductions across tax years. Timing strategies reduce current-year liability without altering total economic income.

Lesson 3 • Charitable Giving Strategies

Evaluates cash, appreciated property, and donor-advised fund contributions for maximum benefit. Structuring gifts correctly maximizes deductions while satisfying substantiation requirements.

Lesson 4 • Loss Harvesting and Utilization

Explains how realized losses offset gains and reduce ordinary income within statutory limits. Strategic loss recognition requires coordination with wash-sale and at-risk rules.

Lesson 1 • Collection Actions and Relief Options

Addresses liens, levies, installment agreements, and offers in compromise for unpaid liabilities. Students learn to evaluate and pursue the most favorable resolution for each client.

Lesson 2 • Audit Selection and Risk Factors

Identifies the criteria and statistical triggers that increase audit selection probability. Understanding risk factors allows preparers to document returns proactively.

Lesson 3 • Audit Preparation and Documentation

Outlines the document-gathering process and strategies for organizing a client's records. Well-organized documentation shortens audit duration and strengthens the taxpayer's position.

Lesson 4 • Administrative Appeals Process

Explains the independent appeals function, protest requirements, and settlement authority. Appeals officers have broad settlement authority, making this stage highly effective.