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ACCOUNTING & AUDIT

FRAUD

MANAGEMENT ADVISORY SERVICES

TAXATION

ENROLLED AGENT










 

Your Income Tax

Course materials

CPE hours

Cost

Includes book

36

1st half - 18

2nd half - 18

$200

$120

$120


Overview:

This course, based on J.K.Lasser's #1 bestseller Your Income Tax 2011, reviews personal income tax rules for 2010. This text is a proven, accessible resource with important strategies, useful recommendations and of course, all the latest tax law changes.

The text includes usable forms online and over 1,000 tax-savings tips.

Summary of Contents:

  • Filing Status

  • Taxable Wages, Salary and Other Compensation

  • Fringe Benefits

  • Dividend and Interest Income Reporting

  • Property Sales

  • Tax-Free Exchanges of Property

  • Retirement and Annuity Income

  • IRAs

  • Income from Rents and Royalties

  • Loss Restrictions

  • Other Income

  • Deductions Allowed in Figuring AGI

  • Claiming the Standard Deduction or Itemized Deductions

  • Charitable Contribution Deductions

  • Itemized Deduction for Interest Expenses

  • Deductions for Taxes

  • Medical and Dental Expense Deductions

  • Casualty and Theft Losses and Involuntary Conversions

  • Deducting Job Costs and Other Miscellaneous Expenses

  • Travel and Entertainment Expense Deductions

  • Personal Exemptions

  • Figuring Your Regular Income Tax Liability

  • Alternative Minimum Tax

  • Computing the "Kiddie Tax"

  • Personal Tax Credits

  • Tax Withholding

  • Estimated Tax Payments

  • Tax Planning Overview

  • Tax Savings for ResidenceSales

  • Tax Savings for Investors in Securities

  • Tax Savings for Real Estate

  • Tax Pointers for Investors in Mutual Funds

  • Educational Tax Benefits

  • Special Tax Rules for Senior Citizens

  • Members of the Armed Forces

  • How to Treat Foreign Earned Income

  • Planning Alimony and Marital Settlements

  • Household Employment Taxes

  • Gift and Estate Tax Planning

  • Income or Loss From Your Business or Profession

  • Retirement Plans for Self-Employment

  • Claiming Depreciation Deduction

  • Deducting Car and Truck Expenses

  • Sales of Business Property

  • Figuring Self-Employmen Tax

  • Filing Your Return

  • Filing Refund Claims and Amended Returns

  • If the IRS Examines Your Return

 

Sample Exam Questions:

1. Sally is a stay-at-home mother whose husband earns all of the household income. After she obtains a divorce, the IRS examines a joint return she filed with her former husband and assesses a tax deficiency attributable to income he failed to report.

She did not know about the omitted income and she elects separate liability treatment in a timely manner. Which of the following is true?

a. She is liable for half of the tax deficiency.

b. If the IRS is unable to collect the tax from your husband, she is liable for all of the tax deficiency.

c. She is not liable for any part of the tax deficiency.

d. She is liable for any tax deficiency from income earned prior to the divorce.

2. Options granted under qualified plans are not taxed until you sell the shares acquired from exercising the option.

a. True

b. False

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