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Petro Lisowsky, PhD, CPA, Michael P Donohoe, PhD, CPA, and Matthew Hutchens

This Specialization introduces the U.S. federal tax system via conceptual and applied material. Learners will be able to apply basic principles to settings involving individuals, corporations, and other business entities, complete key components of major, individual U.S. federal tax returns, and identify tax-related strategies and implications of structuring transactions and organizations.

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What's inside

Four courses

Federal Taxation I: Individuals, Employees, and Sole Proprietors

(0 hours)
This course focuses on the U.S. federal tax system for individuals, employees, and sole proprietors. Key concepts include gross income, tax deductions, and the differing tax treatments for employees versus self-employed taxpayers. Learners will gain practical experience reporting income and expenses on Form 1040.

Federal Taxation II: Property Transactions of Business Owners and Shareholders

(0 hours)
This course examines the U.S. federal tax system as it relates to property transactions of business owners and shareholders. Topics include cost recovery, calculation of realized versus recognized gains and losses, evaluation of nontaxable exchanges, and combining gains and losses.

Taxation of Business Entities I: Corporations

(0 hours)
This course introduces the U.S. federal income taxation of corporations and their shareholders. It covers corporate formation, operations, distributions, and liquidation.

Taxation of Business Entities II: Pass-Through Entities

(0 hours)
This course introduces U.S. federal income taxation of pass-through business entities, including Subchapter S corporations, partnerships, and limited liability companies. It focuses on relevant provisions of Subchapters S and K of the Internal Revenue Code, as well as related Treasury Regulations and judicial opinions governing the formation, operation, and termination of pass-through entities.

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