Advanced Income Tax Preparation

Advanced Income Tax Preparation – Level 2

30 hours/3 months/Instructor Support

Course Overview:

Recent economic changes make it more important than ever for taxpayers to claim all of the credits and deductions due to them and to pay no more than the exact amount of taxes they owe. As a result, qualified tax preparers are in high demand.

Course Outline:

Benefits of Becoming a Tax Professional

Recession-resistant career
Seasonal and flexible schedule - PT or FT hours
Work for a firm or start your own business
Enjoy a career servicing the needs of your clients
Emphasis on problem solving and interpersonal skills
Reduce your own tax liability
Income potential is unlimited

The Income Tax School courses are your best investment.

Curriculum is up-to-date, of the highest quality and written in layman's terms
Prepare tax returns without dependency on tax software
Immediate grading of all assignments and exams
Textbooks provided with Basic, Intermediate and Comprehensive courses
Instructor feedback and support provided
Self study, all material is available online – 24/7-365 days a year
Student forum available for Q/A and interaction with fellow students, FAQ section
Career center available, including internship program
Approved NASBA, IRS OPR for Continuing Education, Qualified Sponsor for CFP, SCHEV, CTEC, Oregon Board of Tax Practitioners
State supplements are available for California and Oregon
Certificate of Completion

Course Description:

10 Chapters, 3 Hours per Chapter
Prior tax preparation experience/knowledge is required.
This Course is designed to enhance the knowledge and experience of tax practitioners.
Students normally enroll in this Course after completing the 10-week Comprehensive Income Tax Class and working at least one season as a tax preparer.
This Course will give you the confidence to take on more complex returns by reinforcing your existing tax knowledge and building on it.
This Course is also suitable for a veteran preparer who needs to refresh his/her skills.
If you are an enrolled agent, accountant, lawyer, financial planner, business owner, experienced tax preparer, or just interested in increasing your tax knowledge, the Advanced Course will enable you to prepare more complex individual tax
eturns. This Course provides the critical education and knowledge which make the graduates more competent and successful than their competitors.
Advanced Individual Level II: Students will study more specialized areas of taxation in this course. This course covers mended returns, special needs and concerns for seniors, tax issues for high income taxpayers, net operating losses, special issues for Schedule D, tax issues for divorced and separated taxpayers, tax planning, savings strategies, updates, guidance in responding to the IRS, state returns and nonresident alien returns.
Upon completion of this course a student will be able to complete specialized individual returns. Prior tax knowledge and experience are required for this course.

Course Materials/Resources:

The Income Tax School Advanced Income Tax Course Manual
Federal income tax reference material Certificate of Achievement upon completion Course support from veteran tax preparers

Availability:

Our current courses are based on last year's tax law because this year's tax code is not finalized until December. We provide all students with a free Tax Law Update once the IRS issues updates.

Term:

3 months from date of registration.

CE Credit Eligibility:

30 hours of CE Credit

Topics Include:

Earned Income Credit
Clergy
Investments
At Risk Rules
Passive Activities
Injured/Innocent Spouse
Tax/Special Credits
COGS/Business Start-Up
Depreciation
Amortization
Section 179
Employee Business Expense
Office in Home
Auto Expenses
Self-Employment Tax
Statutory Employees
Capital Gains/Losses
Basis of Property
Sale of Stock
Installment Sales
Rental Properties
K-1s/1099s
Sale of Business Property
Estimated Taxes
Extensions

System Requirements:

Internet Access

Broadband or high-speed internet access is strongly recommended. Broadband includes DSL, cable, and wireless connections.
Dial-Up internet connections will result in a diminished online experience. Moodle pages may load slowly and viewing large audio and video files may not be possible.

Hardware

Virtually all Windows-Mac-Linux hardware configurations and processors are acceptable.
1 GB RAM recommended
Software
Operating Systems
Windows XP or Vista and Mac OS X 10 and higher, most Linux distributions
Web Browsers
Mozilla Firefox 2 and 3 (previous versions will work also)
Internet Explorer 6, 7 and 8 Safari is not currently recommended as it cannot display certain Moodle editing menus for both students and instructors
Media Plug-ins (These may be required depending on your course media-click on the links below to download the latest versions)
Adobe Flash Player
Adobe Acrobat Reader
Apple Quicktime
Windows Media Player
Real Player
PowerPoint Viewer (use this if you don't have PowerPoint)