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Tax Preparation

Learn Fast! Prepare Taxes with Confidence!

Stefan Ignatovski, Ph.D.

If for any reason you are not satisfied, get your money back. No Questions Asked.

This course will prepare you to be confident in preparing your own taxes and the taxes of others. This course will visually and logically explain the Tax Law and its applications through scenarios and examples. Tax Law is a very interesting topic. It is not a topic that can be easily memorized, but, however, it is a topic that requires constant research and reference to appropriate materials. This course will enable you to do exactly that.

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If for any reason you are not satisfied, get your money back. No Questions Asked.

This course will prepare you to be confident in preparing your own taxes and the taxes of others. This course will visually and logically explain the Tax Law and its applications through scenarios and examples. Tax Law is a very interesting topic. It is not a topic that can be easily memorized, but, however, it is a topic that requires constant research and reference to appropriate materials. This course will enable you to do exactly that.

You will find videos that explain the rules. These videos are followed by another set of videos with examples and scenarios that will help you understand the application of the Tax Law even better. All the materials that I am talking about in the course are FREE and I tell you where to find them and how to use them.

You can study the course at your own pace. However, I believe that you can finish it very fast since the videos are very descriptive. Get equipped with the proper materials, review the course, and start preparing tax returns.

I suggest that you take action now and enroll today.

Enroll now

What's inside

Learning objectives

  • Learn the filing basics
  • Learn the various filing status types
  • Learn who can claim personal exemptions
  • Learn who can claim dependency exemptions
  • Learn how to report income from wages, salaries, tips, and interest
  • Learn how to report business income
  • Learn how to report capital gains and losses
  • Learn how to report retirement income
  • Learn how to report income from social security benefits
  • Learn how to make adjustments to income
  • Learn how to calculate adjusted gross income
  • Learn who can claim standard deduction
  • Learn who should take itemized deductions
  • Learn how to claim credit for child and dependent care expenses
  • Learn how to claim education credits
  • Learn how to claim american opportunity credit
  • Learn how to claim lifetime learning credit
  • Learn how to claim child tax credit
  • Learn how to claim other miscellaneous credits
  • Learn how to report other taxes
  • Learn how to report payments
  • Learn how to claim the earned income credit (eic)
  • Learn about the refund options and the amount the taxpayer owe
  • Show more
  • Show less

Syllabus

Let's Get Ready!

Advice on how to successfully complete the course.

Introduction to Taxation

Introduction to the basics of tax law.

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Tax law terms, concepts, definitions, and doctrines.

Filing Basics

Who is required to file a return? Who should file a return? This lecture will answer those questions.

Determine who is required to file a tax return through practical application.

Filing Status

What is your filing status? It is easy to determine - just push play.

Determine the filing status in these scenarios.

Exemptions

What are personal exemptions? Who can claim them? Let's answer these questions.

What are dependency exemptions? Who qualifies for a dependency exemption? This lecture answers all of these questions.

Apply everything you learned about exemptions through these scenarios.

Income

Which income items should be included? What amount should be included?W here do we find the amounts? Push play.

Apply everything you learned about the basic income items through these scenarios.

What happens to business income when it comes to taxation?

Apply everything you learned about business income through these scenarios.

Learn the tax treatment of capital gains and losses.

Apply everything you learned about capital gains and losses through these scenarios.

Is my retirement income taxable? Learn how to treat retirement income for tax purposes.

Are my social security benefits taxable? They might be. Push play and see.

Apply everything you learned about social security benefits through these scenarios.

Adjustments to Income - Adjusted Gross Income (AGI)

This lecture will explain the adjustments to income and how to apply them.

Apply everything you learned about adjusted gross income through these scenarios.

Deductions

Learn more about the standard deduction and additional standard deduction.

Apply everything you learned about standard deduction through these scenarios.

Should I itemize? How do I use the itemized deductions? This is the lecture where you will learn everything about itemized deductions.

Credits

Do I qualify for the credit for child and dependent care expenses? Learn in this lecture.

This lecture explains the criteria for the American Opportunity Credit and the Lifetime Learning Credit. See if you qualify.

Learn if you qualify for the child tax credit.

Learn about the retirement savings contributions credit.

Other Taxes

Learn what the items in the section "Other taxes" mean and why they are important.

Payments

Learn what the items in the section "Payments" mean and why they are important.

Find out whether you qualify for the earned income credit and the criteria to determine the amount of the earned income credit.

Refund and Amount of Tax Owed

Learn how to treat the affordable care act for tax purposes.

What happens to your refund? What if you have to pay additional tax? What if you cannot pay? Learn in this lecture.

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Tax Preparation: Learn Fast! Prepare Taxes with Confidence! with these activities:
Review Basic Accounting Principles
Strengthen your understanding of fundamental accounting principles, which are essential for grasping tax concepts related to income, deductions, and credits.
Browse courses on Accounting Principles
Show steps
  • Review the basic accounting equation (Assets = Liabilities + Equity).
  • Familiarize yourself with debits and credits.
  • Understand the different types of financial statements (income statement, balance sheet, cash flow statement).
Read "Tax Guide for Small Business"
Gain a deeper understanding of tax obligations for small businesses, which are often a challenging area for tax preparers.
View Tax Guide 2016 for Individuals on Amazon
Show steps
  • Obtain a copy of "Tax Guide for Small Business" from the IRS website.
  • Read the chapters related to calculating self-employment tax and deductible business expenses.
  • Work through the examples provided in the book.
Read "J.K. Lasser's Guide to Self-Employment Taxes"
Gain a deeper understanding of self-employment taxes, which are often a challenging area for tax preparers.
View J.K. Lasser's Small Business Taxes 2025 on Amazon
Show steps
  • Obtain a copy of "J.K. Lasser's Guide to Self-Employment Taxes."
  • Read the chapters related to calculating self-employment tax and deductible business expenses.
  • Work through the examples provided in the book.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Complete Tax Form Practice Exercises
Reinforce your understanding of tax forms by completing practice exercises that simulate real-world tax preparation scenarios.
Show steps
  • Download sample tax forms (e.g., 1040, Schedule C, Schedule SE) from the IRS website.
  • Find or create realistic tax scenarios with varying income, deductions, and credits.
  • Complete the tax forms based on the scenarios.
  • Compare your completed forms with solutions or consult with a tax professional to verify accuracy.
Create a Tax Law Cheat Sheet
Summarize key tax laws and concepts into a concise cheat sheet for quick reference during tax preparation.
Show steps
  • Identify the most important tax laws and concepts covered in the course.
  • Summarize each law or concept in a clear and concise manner.
  • Organize the cheat sheet logically for easy navigation.
  • Include examples or illustrations to clarify complex topics.
Prepare a Mock Tax Return for a Fictional Individual
Apply your knowledge by preparing a complete tax return for a fictional individual with a complex financial situation.
Show steps
  • Create a detailed fictional individual profile with income, expenses, and deductions.
  • Gather all necessary tax documents (e.g., W-2s, 1099s, receipts).
  • Prepare the tax return using tax preparation software or paper forms.
  • Review the completed tax return for accuracy and completeness.
Help Others with Tax Questions
Solidify your understanding by helping others with their tax questions, reinforcing your knowledge and identifying areas where you may need further review.
Show steps
  • Join online tax forums or communities.
  • Answer tax-related questions posted by other members.
  • Explain tax concepts in a clear and concise manner.
  • Provide helpful resources and guidance.

Career center

Learners who complete Tax Preparation: Learn Fast! Prepare Taxes with Confidence! will develop knowledge and skills that may be useful to these careers:
Tax Consultant
Tax consultants provide expert advice on tax planning and compliance to individuals and businesses. They require an in-depth understanding of tax law and regulations. This course helps build competencies across filing basics, filing status, exemptions, income reporting, adjustments to income, deductions, and credits. The discussion of business income is especially germane. For someone aspiring to become a tax consultant, this course may be a useful starting point.
See salaries and explore the career path for Tax Consultant
Tax Advisor
Tax advisors provide guidance to individuals and businesses on tax planning strategies. They often have expertise in specific areas of tax law. A course that provides a solid background in filing basics, filing status, exemptions, income reporting, and deductions is foundational. Being able to take action in regards to adjustments to income, adjusted gross income, and credits is also helpful. Someone who wishes to become a tax advisor may find the course valuable in building a practical knowledge of tax principles.
See salaries and explore the career path for Tax Advisor
Tax Associate
Tax associates perform entry-level tax-related tasks, often assisting tax preparers or accountants. This course builds a good foundation of tax law, explaining filing basics, income reporting, common deductions, and tax credits. This course may boost confidence in preparing tax returns. Tax associates benefit from the practical scenarios and examples included in the course's lessons. Someone who wishes to become a tax associate may find the content in this course very helpful and useful.
See salaries and explore the career path for Tax Associate
Tax Preparer
A tax preparer helps individuals and businesses file their taxes accurately and on time. They need a strong understanding of tax laws and regulations. This course helps build a foundation in filing basics, including filing statuses, exemptions, income reporting, adjustments to income, deductions, and credits. Specifically, the course's explanations of exemptions and deductions would directly assist a tax preparer in optimizing client returns. Someone who wishes to become a tax preparer may find the course useful as it visually and logically explains tax law and its applications through scenarios and examples.
See salaries and explore the career path for Tax Preparer
Revenue Agent
Revenue agents, who are employed by government agencies, examine tax returns. Understanding tax law is paramount. A course that helps build a clear understanding of filing basics, exemptions, income reporting, adjustments to income, and deductions, would be useful. The detailed explanations of specific items like dependency exemptions and itemized deductions are relevant. Learning more about the other taxes and payments, as well as refunds and amounts of tax owed, would be beneficial for someone who wants to be a revenue agent.
See salaries and explore the career path for Revenue Agent
Payroll Specialist
Payroll specialists manage employee compensation, including withholding taxes and deductions. This course helps in regard to calculating wages, salaries, and other income, as well as understanding various tax implications. Payroll Specialists are able to navigate other taxes and payments. The course may be relevant to understanding how to properly calculate and remit payroll taxes. The section on reporting income from wages, salaries, and tips may be helpful for payroll specialists.
See salaries and explore the career path for Payroll Specialist
Accountant
Accountants are responsible for preparing and analyzing financial records. While the role is broad, understanding tax implications is often a key component. This course may be useful as it covers income reporting, adjustments, deductions, and tax credits. Accountants must understand how these elements affect a company's or individual's financial standing, and the course's lessons on reporting income from wages, salary, and tips may be particularly relevant to an accountant's work. The discussion of business income would be especially germane. An aspiring accountant might find this course helpful for understanding the fundamentals of tax preparation.
See salaries and explore the career path for Accountant
Financial Advisor
Financial advisors guide clients on investments, retirement planning, and other financial matters. Tax implications are a crucial part of financial planning. This course on tax preparation may be helpful as it will familiarize the advisor with various income sources, deductions, and credits that affect a client's overall financial picture. Topics such as retirement income and social security benefits can be especially valuable. Knowing the ins and outs of these areas allows the financial advisor to develop tax-optimized investment strategies. The sections on retirement and Social Security may be particularly helpful.
See salaries and explore the career path for Financial Advisor
Bookkeeper
Bookkeepers maintain financial records for businesses. While they may not prepare taxes directly, understanding the basics of tax-related documentation is helpful. This course's section on income, deductions, and credits may be relevant to a bookkeeper's daily tasks as they reconcile accounts. This professional navigates topics like adjustments to income, standard deductions, and itemized deductions. While a bookkeeper may not need to know all of the ins and outs of tax preparation, this course can help them better classify and organize financial data. The course's focus on scenarios and examples can clarify the practical applications of tax law for an aspiring bookkeeper.
See salaries and explore the career path for Bookkeeper
Tax Attorney
Tax attorneys advise clients on complex tax matters, often involving litigation or disputes with tax authorities. While a tax attorney typically requires an advanced degree, the course's detailed overview of tax law may be useful. The attorney benefits from the focus on filing basics, income reporting, deductions, and credits. The attorney is also able to take action in regards to other taxes and payments. The scenarios presented in the course can provide practical insights for a future tax attorney.
See salaries and explore the career path for Tax Attorney
Compliance Officer
Compliance officers ensure a company adheres to laws and regulations, including tax laws. This course helps build a foundation on tax law, and will assist compliance officers with various tax rules related to income reporting, deductions, and credits. The course's lessons on business income and adjustments to income may be especially relevant for the compliance officer. Understanding how a company reports income and claims deductions may be helpful for someone who wishes to become a compliance officer.
See salaries and explore the career path for Compliance Officer
Internal Auditor
Internal auditors examine a company's financial records and internal controls. While not directly preparing taxes, understanding tax regulations is crucial for assessing compliance. This course can help the auditor stay aware of tax law as it relates to income reporting, deductions, and credits. It can also assist in evaluating a company's tax-related processes and identifying potential risks. The modules on income and deductions are particularly relevant to an internal auditor's work. For an aspiring internal auditor, this course may improve their understanding of how tax issues impact a company's operations.
See salaries and explore the career path for Internal Auditor
Estate Planner
Estate planners advise clients on how to manage and transfer their assets, minimizing tax implications. This course can assist in understanding income, deductions, and credits that affect estate taxes. Estate planners are able to take action on adjustments to income. The modules discussing retirement income and capital gains/losses are particularly relevant to estate planning strategies. Someone who wishes to become an estate planner may find this course useful for understanding the tax-related aspects of estate management.
See salaries and explore the career path for Estate Planner
Finance Manager
Finance managers oversee a company's financial planning, including budgeting and forecasting. Tax considerations are a key aspect of financial management. This course helps build tax knowledge, offering insights into income reporting, deductions, and credits. It may provide a useful perspective on issues like business income and adjustments to income. Understanding tax implications helps a finance manager optimize a company's financial performance. Someone who wants to become a finance manager may find this course beneficial.
See salaries and explore the career path for Finance Manager
Business Analyst
Business analysts identify and analyze business needs and recommend solutions. Understanding the tax implications of business decisions is valuable. This course helps build a basis of knowledge of tax law through lessons on income reporting, deductions, and credits. The business analyst is able to determine who can claim standard deductions. Although not the main focus of the role, understanding tax basics may make someone a well-rounded business analyst.
See salaries and explore the career path for Business Analyst

Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Tax Preparation: Learn Fast! Prepare Taxes with Confidence!.
Cover image
J.K. Lasser's Small Business Taxes 2025
Save
Provides a comprehensive guide to self-employment taxes, a crucial topic for anyone preparing taxes for themselves or others. It covers everything from calculating self-employment tax to understanding deductible business expenses. This book valuable reference tool for understanding the nuances of self-employment taxation. It adds depth to the course by providing practical examples and real-world scenarios.
J.K. Lasser's Small Business Taxes 2025
Paperback
Check
J.K. Lasser's Small Business Taxes 2025
Kindle Edition
Check
Cover image
Tax Guide 2016 for Individuals
Save
This IRS publication provides a comprehensive guide to tax obligations for small businesses. It covers various business structures, deductions, credits, and filing requirements. valuable reference tool for understanding the nuances of small business taxation. It adds depth to the course by providing practical examples and real-world scenarios.
Tax Guide 2016 for Individuals
Paperback
Check
Tax Guide 2016 for Individuals
Kindle Edition
Check

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Effort
2.5 total hours
Via
Udemy
Instructor
Stefan Ignatovski, Ph.D.
Language
English
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