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
Este curso faz parte do Programa de cursos integrados U.S. Federal Taxation
Federal Taxation I: Individuals, Employees, and Sole Proprietors
oferecido por
Programa de cursos integrados U.S. Federal TaxationInformações sobre o curso
Learner Career Outcomes
50%
33%
17%
Learner Career Outcomes
50%
33%
17%
100% on-line
Curso 1 de 5 no
Prazos flexíveis
Nível intermediário
Aprox. 37 horas para completar
Inglês
Programa - O que você aprenderá com este curso
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.
MODULE 1: AN INTRODUCTION TO TAXATION
In this module, you will be introduced to the different kinds of taxes faced by US taxpayers and the US 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.
MODULE 2: COMPUTING THE TAX
In this module, we will take a deeper dive into each part of the US 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 that 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.
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.
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.
Principais avaliações do Federal Taxation I: Individuals, Employees, and Sole Proprietors
Completed on September 5, 2018 - excellent introduction course that can lead to a Coursera Certificate titled "U.S. Federal Taxation Specialization" sponsored by the University of Illinois.
One of the most complete well explaining and practice course that I ever take, I know I expand my knowledge in a very good way I can wait to start the rest of the specialization.
Instrutores
Matthew Hutchens
Lecturer of Accountancy
Petro Lisowsky, PhD, CPA
Associate Professor of AccountancyComece a trabalhar rumo ao seu mestrado
Sobre Universidade de Illinois em Urbana-ChampaignUniversidade de Illinois em Urbana-Champaign
Sobre Programa de cursos integrados U.S. Federal Taxation
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