Informações sobre o curso: This course is the first course in a five-course US Federal Tax Specialization. It covers and focuses on the U.S. federal tax system as it relates to individuals, employees, and sole proprietors. Key concepts covered include gross income and items that are statutorily included or excluded in it, personal and business expenses that qualify as tax deductions, and the differing tax treatments for employees versus self-employed taxpayers. Unlike many other introductory courses in tax and as part of this course’s comprehensive wrap-up, learners will be provided with practical and tangible experience reporting both income and expenses on the main individual tax return used in the US, Form 1040. If you have enjoyed this course, consider enrolling in our online graduate Accounting program. The University of Illinois at Urbana-Champaign, consistently ranked as one of the nation's top three accounting programs, now offers a master’s in accounting at a very affordable tuition rate and is completely online. The iMSA is a full Master of Accountancy program and students graduate with an MS that is highly recognized. Try an open course or two, then apply for admission into the credit-bearing version as you may be eligible to take credit-bearing courses during the application process. If you are missing any prerequisites for the full degree, you can complete Coursera courses to demonstrate readiness and strengthen your application for the iMSA. For more information on this exciting iMSA online program, refer to this link: https://www.coursera.org/degrees/imsa
Para quem é direcionado este curso: This course is designed for learners who want to obtain an introductory knowledge of US Federal Taxation on individuals, employees, and sole-proprietors. While the foundations laid in this course are critical for those who seek a career within the accounting profession, they are essential for all who are in the field of business as taxes are often the largest single expense of most companies! Upon completion of this course you should have a good understanding of the theoretical and technical aspects of individual taxation.
Desenvolvido por: University of Illinois at Urbana-Champaign
Ministrado por: Matthew Hutchens, Lecturer of Accountancy
Department of AccountancyMinistrado por: Petro Lisowsky, PhD, CPA, Associate Professor of Accountancy
College of Business: Department of Accountancy
| Informações básicas | Curso 1 de 5 no U.S. Federal Taxation Specialization |
| Nível | Intermediário |
| Compromisso | 6-8 hours/week |
| Idioma | Inglês |
| Como ser aprovado | Seja aprovado em todas as tarefas para concluir o curso. |
| Classificação do usuário |
Conclua este curso para chegar mais perto de:
Programa de cursos integrados U.S. Federal Taxation
Este curso faz parte do Programa de cursos integrados U.S. Federal Taxation de 5 cursos do University of Illinois at Urbana-Champaign
Master of Science in Accountancy (iMSA)
Este curso faz parte do programa de graduação 16 eight-week courses totalmente on-line
Programa
SEMANA 1
INTRODUCTION TO THE COURSE
In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.
1 vídeos, 4 leituras, 1 teste para praticar
- Reading: A Note from Your Instructor
- Reading: Syllabus
- Reading: About the Discussion Forums
- Cuestionario de práctica: Orientation Quiz
- Reading: Update Your Profile
- Discussion Prompt: Get to Know Your Fellow Learners
MODULE 1: AN INTRODUCTION TO TAXATION
In this module, you will be introduced to the different kinds of taxes faced by U.S. taxpayers and the U.S. federal income tax structure. The origin of tax law and its constitutionality is discussed along with a brief history of the different changes in rates that have occurred since the 16th amendment was passed. Finally, we will discover the three different sources of new tax laws and rules.
9 videos, 1 leituras, 9 testes para praticar
- Discussion Prompt: Make Connections to Topic
- Reading: Module 1 Overview and Resources
- Cuestionario de práctica: Lesson 1.1 Knowledge Check
- Vídeo: Evaluating a Tax System
- Cuestionario de práctica: Lesson 1.2 Knowledge Check
- Vídeo: The Tax Structure
- Cuestionario de práctica: Lesson 1.3 Knowledge Check
- Vídeo: The Tax Structure: Examples
- Cuestionario de práctica: Lesson 1.4 Knowledge Check
- Vídeo: Types of Taxes
- Cuestionario de práctica: Lesson 1.5 Knowledge Check
- Vídeo: Origins of Tax Law
- Cuestionario de práctica: Lesson 1.6 Knowledge Check
- Vídeo: Statutory Sources of Tax Law
- Cuestionario de práctica: Lesson 1.7 Knowledge Check
- Vídeo: Administrative Sources of Tax Law
- Cuestionario de práctica: Lesson 1.8 Knowledge Check
- Vídeo: Judicial Sources of Tax Law
- Cuestionario de práctica: Lesson 1.9 Knowledge Check
Nota atribuída: Module 1 Quiz
SEMANA 2
MODULE 2: COMPUTING THE TAX
In this module, we will take a deeper dive into each part of the U.S. federal income tax structure, with a focus on what is included in gross income. We will learn how for-AGI deductions reduce gross income to generate adjusted gross income, or AGI, and why AGI is an important number which determines the floors and ceilings of many from-AGI deductions. We will also discuss who qualifies as a dependent. We will wrap up the module with a discussion of the actual calculation of the tax as well as filing status and filing requirements.
6 videos, 3 leituras, 6 testes para praticar
- Reading: Module 2 Overview and Resources
- Cuestionario de práctica: Lesson 2.1 Knowledge Check
- Vídeo: Deductions and AGI
- Reading: Standard Deduction Amounts for 2018
- Cuestionario de práctica: Lesson 2.2 Knowledge Check
- Vídeo: Qualifying Children and Qualifying Relatives
- Cuestionario de práctica: Lesson 2.3 Knowledge Check
- Vídeo: Tax Calculation
- Reading: Tax Rate Schedules for 2018
- Cuestionario de práctica: Lesson 2.4 Knowledge Check
- Vídeo: Filing Status
- Cuestionario de práctica: Lesson 2.5 Knowledge Check
- Vídeo: Filing Requirements and Other Dependent Issues
- Cuestionario de práctica: Lesson 2.6 Knowledge Check
Nota atribuída: Module 2 Quiz
SEMANA 3
MODULE 3: GROSS INCOME
In this module, you will take a deeper dive into gross income, specifically regarding statutory inclusions. Congress, the courts, and the IRS have specific rules on whether and when certain income items are included as gross income. These rules provide clarification in situations where it is unclear whether money or property received should actually be included as income.
6 videos, 1 leituras, 6 testes para praticar
- Reading: Module 3 Overview and Resources
- Cuestionario de práctica: Lesson 3.1 Knowledge Check
- Vídeo: Accounting Methods
- Cuestionario de práctica: Lesson 3.2 Knowledge Check
- Vídeo: Accounting Method Exceptions
- Cuestionario de práctica: Lesson 3.3 Knowledge Check
- Vídeo: Gross Income I: Alimony, Discharge of Indebtedness, Annuities
- Cuestionario de práctica: Lesson 3.4 Knowledge Check
- Vídeo: Gross Income: Example
- Cuestionario de práctica: Lesson 3.5 Knowledge Check
- Vídeo: Gross Income II: Prizes, Life Insurance, Unemployment Compensation, Social Security Benefits
- Cuestionario de práctica: Lesson 3.6 Knowledge Check
Nota atribuída: Module 3 Quiz
SEMANA 4
MODULE 4: GROSS INCOME: EXCLUSIONS
In this module, you will take a deeper dive into gross income, specifically regarding statutory exclusions. Congress, the courts, and the IRS allow exclusions of money or property received by the taxpayer for various reasons.
5 videos, 2 leituras, 5 testes para praticar
- Reading: Module 4 Overview and Resources
- Reading: Sharing "Goodreads"
- Cuestionario de práctica: Lesson 4.1 Knowledge Check
- Vídeo: Scholarships, Payments for Damages, Compensation for Injuries and Sickness
- Cuestionario de práctica: Lesson 4.2 Knowledge Check
- Vídeo: Meals and Lodging, Recovery of Capital Issues
- Cuestionario de práctica: Lesson 4.3 Knowledge Check
- Vídeo: Employee Fringe Benefits: Non-Discriminatory
- Cuestionario de práctica: Lesson 4.4 Knowledge Check
- Vídeo: Employee Fringe Benefits: Discriminatory
- Cuestionario de práctica: Lesson 4.5 Knowledge Check
Nota atribuída: Module 4 Quiz
SEMANA 5
MODULE 5: DEDUCTIONS AND LOSSES: IN GENERAL
In this module, you will learn about deductions, which is the term used in tax to describe an expense that is allowed to reduce a taxpayer’s tax liability. You will discover what adjusted gross income is, why it is important, and how to calculate it. You will also learn the difference in tax treatments for special types of acitivites, such as hobbies and rentals.
8 videos, 1 leituras, 8 testes para praticar
- Reading: Module 5 Overview and Resources
- Cuestionario de práctica: Lesson 5.1 Knowledge Check
- Vídeo: Trade or Business Deductions: Concepts
- Cuestionario de práctica: Lesson 5.2 Knowledge Check
- Vídeo: Timing of Deductions
- Cuestionario de práctica: Lesson 5.3 Knowledge Check
- Vídeo: Trade or Business Deductions: Political Contributions, Lobbying, Executive Compensation
- Cuestionario de práctica: Lesson 5.4 Knowledge Check
- Vídeo: Investigation Costs
- Cuestionario de práctica: Lesson 5.5 Knowledge Check
- Vídeo: Hobby Losses
- Cuestionario de práctica: Lesson 5.6 Knowledge Check
- Vídeo: Vacation Home Rental Deductions
- Cuestionario de práctica: Lesson 5.7 Knowledge Check
- Vídeo: Vacation Home Rental Deductions: Example
- Cuestionario de práctica: Lesson 5.8 Knowledge Check
Nota atribuída: Module 5 Quiz
SEMANA 6
MODULE 6: DEDUCTIONS AND LOSSES: ITEMIZED VS BUSINESS
In this module, we first turn our focus to expenses that qualify as itemized deductions, which are a from AGI deduction. We will also learn about another from AGI deduction, the new 20% deduction for qualified business income, which while a from AGI deduction is not an itemized deduction. And, we will discuss other business deductions such as bad debts and net operating losses. Finally, we'll discuss deductions for losses on worthless securities and certain qualifying small business stock.
5 videos, 1 leituras, 5 testes para praticar
- Reading: Module 6 Overview and Resources
- Cuestionario de práctica: Lesson 6.1 Knowledge Check
- Vídeo: Itemized Deductions: Taxes, Interest, and Charitable Contributions
- Cuestionario de práctica: Lesson 6.2 Knowledge Check
- Vídeo: Business Expenses: Bad Debts
- Cuestionario de práctica: Lesson 6.3 Knowledge Check
- Vídeo: Business Expenses: Qualified Business Income, NOLs, and Casualty Losses
- Cuestionario de práctica: Lesson 6.4 Knowledge Check
- Vídeo: Worthless Securities and Small Business Stock
- Cuestionario de práctica: Lesson 6.5 Knowledge Check
Nota atribuída: Module 6 Quiz
SEMANA 7
MODULE 7: DEDUCTIONS: EMPLOYEE AND SELF-EMPLOYED EXPENSES
In this module, we discuss several unique situations where the same expense may or may not be deductible, dependent on the facts and circumstances surrounding the situation. To finish off this module, we’ll switch back to discussing income and situations where taxpayers can elect to delay recognition of income, such as saving for retirement, as well as situations where taxation of the annual earnings of those retirement savings are either deferred or permanently excluded from income.
7 videos, 2 leituras, 7 testes para praticar
- Reading: Module 7 Overview and Resources
- Cuestionario de práctica: Lesson 7.1 Knowledge Check
- Vídeo: Travel Expenses
- Cuestionario de práctica: Lesson 7.2 Knowledge Check
- Vídeo: Education Expenses as Business Expenses
- Reading: Education Expenses as Business Expenses
- Cuestionario de práctica: Lesson 7.3 Knowledge Check
- Vídeo: Meals, Entertainment, and Home Office Expenses
- Cuestionario de práctica: Lesson 7.4 Knowledge Check
- Vídeo: Retirement Plans and Traditional IRAs
- Cuestionario de práctica: Lesson 7.5 Knowledge Check
- Vídeo: Non-Deductible and Roth IRAs
- Cuestionario de práctica: Lesson 7.6 Knowledge Check
- Vídeo: IRA Basis and Rollovers
- Cuestionario de práctica: Lesson 7.7 Knowledge Check
Nota atribuída: Module 7 Quiz
SEMANA 8
MODULE 8: COMPREHENSIVE EXAMPLE
In this module, you will review the Comprehensive Example video and then learn to apply the concepts to a tax return problem.
1 vídeos, 4 leituras, 1 teste para praticar
- Reading: Module 8 Overview and Resources
- Cuestionario de práctica: Unlock Comprehensive Example Solution
- Reading: Comprehensive Example Solution
- Reading: Module 8 Graded Tax Return Problem Instructions
- Reading: Course Wrap-Up
- Discussion Prompt: Final Reflection: I used to think ... Now I think
Nota atribuída: Graded Tax Return - Section 1 Gross Income & Deductions for AGI
Nota atribuída: Graded Tax Return - Section 2 Deductions from AGI
Nota atribuída: Graded Tax Return - Section 3 Dependents, Taxes, and Credits
Nota atribuída: Graded Tax Return - Section 4 Payments and Refund
Perguntas frequentes
Como funciona
Trabajo del curso
Cada curso es como un libro de texto interactivo, con videos pregrabados, cuestionarios y proyectos.
Ayuda de tus compañeros
Conéctate con miles de estudiantes y debate ideas y materiales del curso, y obtén ayuda para dominar los conceptos.
Certificados
Obtén reconocimiento oficial por tu trabajo y comparte tu éxito con amigos, compañeros y empleadores.
Desenvolvedores
University of Illinois at Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
Custo
| Comprar curso | |
|---|---|
| Acesso aos materiais do curso | Disponível |
| Acesso a materiais valendo nota | Disponível |
| Receba uma nota final | Disponível |
| Obtenha um Certificado de Curso compartilhável | Disponível |
Classificações e avaliações
Excelent Course, congratulations
federal taxation
Thanks a lot. It was one of the the best courses I have done to date, and I have completed quite a few. The crisp lectures were very informative and have really contributed enormously to my understanding of the subject. An excellent and "must experience" course.
Perfect! I learned a lot of new things.
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BM
EXCELLENT VIDEOS, GREAT QUIZ, PRACTICAL APPLICATION AND SOLVING OF PROBLEM GREATLY HELPS IN UNDERSTANDING THE CONCEPT, AT THE SAME TIME TEACHES TO APPLY THE CONCEPT!!