UIUC - Federal Taxation I: Individuals, Employees, and Sole Proprietors
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Federal Taxation I: Individuals, Employees, and Sole Proprietors at Coursera Overview
Duration | 29 hours |
Start from | Start Now |
Total fee | Free |
Mode of learning | Online |
Difficulty level | Intermediate |
Official Website | Explore Free Course  |
Credential | Certificate |
Federal Taxation I: Individuals, Employees, and Sole Proprietors at Coursera Highlights
- Shareable Certificate Earn a Certificate upon completion
- 100% online Start instantly and learn at your own schedule.
- Course 1 of 5 in the U.S. Federal Taxation Specialization
- Flexible deadlines Reset deadlines in accordance to your schedule.
- Intermediate Level
- Approx. 29 hours to complete
- English Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, German, Russian, English, Spanish
Federal Taxation I: Individuals, Employees, and Sole Proprietors at Coursera Course details
- 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
Federal Taxation I: Individuals, Employees, and Sole Proprietors at Coursera Curriculum
INTRODUCTION TO THE COURSE
Course Overview and Meet Your Instructors
About Professor Matthew Hutchens
About Professor Petro Lisowsky
Syllabus
About the Discussion Forums
Update Your Profile
Taxes: An Introduction
Evaluating a Tax System
The Tax Structure
The Tax Structure: Examples
Types of Taxes
Origins of Tax Law
Statutory Sources of Tax Law
Administrative Sources of Tax Law
Judicial Sources of Tax Law
Module 1 Overview and Resources
The 2017 Tax Revision
Wealth of Nations and AICPA's Guiding Principles of Good Tax Policy (optional)
Who Pays Federal Taxes?
How Do Marginal Tax Rates Work
1862 and 1913 Tax Forms (optional)
Lesson 1.1 Knowledge Check
Lesson 1.2 Knowledge Check
Lesson 1.3 Knowledge Check
Lesson 1.4 Knowledge Check
Lesson 1.5 Knowledge Check
Lesson 1.6 Knowledge Check
Lesson 1.7 Knowledge Check
Lesson 1.8 Knowledge Check
Lesson 1.9 Knowledge Check
Module 1 Quiz
MODULE 2: COMPUTING THE TAX
Gross Income
Deductions and AGI
Qualifying Children and Qualifying Relatives - Part 1
Qualifying Children and Qualifying Relatives Part 2
Tax Calculation
Filing Status
Filing Requirements and Other Dependent Issues
The "Kiddie" Tax
Module 2 Overview and Resources
Standard Deduction Amounts for 2018 and 2019
Qualifying Child and Qualifying Relative Tests
The Child Tax Credit: Current Law
Tax Rate Schedules for 2020
Tax Rate Schedules for 2019
Tax Rate Schedules for 2018
Former Kiddie Tax Rules Restored
Overview of the Federal Tax System in 2019
Lesson 2.1 Knowledge Check
Lesson 2.2 Knowledge Check
Lesson 2.3 Knowledge Check
Lesson 2.4 Knowledge Check
Lesson 2.5 Knowledge Check
Lesson 2.6 Knowledge Check
Module 2 Quiz
MODULE 3: GROSS INCOME
Gross Income: Concepts
Accounting Methods
Accounting Method Exceptions
Gross Income I: Alimony, Discharge of Indebtedness, Annuities
Gross Income: Example
Gross Income II: Prizes, Life Insurance, Unemployment Compensation, Social Security Benefits
Module 3 Overview and Resources
Lesson 3.1 Knowledge Check
Lesson 3.2 Knowledge Check
Lesson 3.3 Knowledge Check
Lesson 3.4 Knowledge Check
Lesson 3.5 Knowledge Check
Lesson 3.6 Knowledge Check
Module 3 Quiz
MODULE 4: GROSS INCOME: EXCLUSIONS
Municipal Bond Interest, Gifts, Life Insurance Proceeds
Scholarships, Payments for Damages, Compensation for Injuries and Sickness
Meals and Lodging, Recovery of Capital Issues
Employee Fringe Benefits: Non-Discriminatory
Employee Fringe Benefits: Discriminatory
Module 4 Overview and Resources
Sharing "Goodreads"
Lesson 4.1 Knowledge Check
Lesson 4.2 Knowledge Check
Lesson 4.3 Knowledge Check
Lesson 4.4 Knowledge Check
Lesson 4.5 Knowledge Check
Module 4 Quiz
MODULE 5: DEDUCTIONS AND LOSSES: IN GENERAL
Deductions: For vs. From AGI
Trade or Business Deductions: Concepts
Timing of Deductions
Political Contributions, Lobbying, Executive Compensation
Investigation Costs
Hobby Losses
Vacation Home Rental Deductions
Vacation Home Rental Deductions: Example
Module 5 Overview and Resources
Update: Medical Expense AGI Floor
Lesson 5.1 Knowledge Check
Lesson 5.2 Knowledge Check
Lesson 5.3 Knowledge Check
Lesson 5.4 Knowledge Check
Lesson 5.5 Knowledge Check
Lesson 5.6 Knowledge Check
Lesson 5.7 Knowledge Check
Lesson 5.8 Knowledge Check
Module 5 Quiz
MODULE 6: BUSINESSS DEDUCTIONS
Introduction and Transportation Expenses
Travel Expenses
Business Expenses: Bad Debts
Business Expenses: Qualified Business Income
Net Operating Losses (NOLs)
Casualty Losses
Education Expenses
Meals, Entertainment, and Home Office Expenses
Module 6 Overview and Resources
The Section 199A Deduction for Passthroughs
Lesson 6.1 Knowledge Check
Lesson 6.2 Knowledge Check
Lesson 6.3 Knowledge Check
Lesson 6.4 Knowledge Check
Lesson 6.5 Knowledge Check
Lesson 6.6 Knowledge Check
Lesson 6.7 Knowledge Check
Module 6 Quiz
MODULE 7: ITEMIZED DEDUCTIONS AND RETIREMENT PLANS
Itemized Deductions: Overview and Medical Expenses
Itemized Deductions: Taxes and Interest
Itemized Deductions: Charitable Contributions
Retirement Plans and Traditional IRAs
Non-Deductible and Roth IRAs
IRA Basis and Rollovers
Exceptions to Early Withdrawal Penalty
Module 7 Overview and Resources
Itemized Deductions
The Mortgage Interest Deduction
$300 FOR AGI Charitable Deduction and Increase in AGI Limit for 2020
The Charitable Deduction for Individuals
Waiver of RMDs for Tax Year 2020
Exceptions to the 10 Percent Penalty on Early Distributions
Exception for Coronavirus-related Withdrawals in Tax Year 2020
Early Withdrawals from Retirement Accounts
Lesson 7.1 Knowledge Check
Lesson 7.2 Knowledge Check
Lesson 7.3 Knowledge Check
Lesson 7.4 Knowledge Check
Lesson 7.5 Knowledge Check
Lesson 7.6 Knowledge Check
Lesson 7.7 Knowledge Check
Module 7 Quiz
MODULE 8: COMPREHENSIVE EXAMPLE
Comprehensive Example
Gies Online Programs
Module 8 Overview and Resources
Comprehensive Example Solution
Module 8 Graded Tax Return Problem Instructions
Course Wrap-Up
Congratulations!
Unlock Comprehensive Example Solution
Graded Tax Return - Section 1 Gross Income & Deductions for AGI
Graded Tax Return - Section 2 Deductions from AGI
Graded Tax Return - Section 3 Dependents, Taxes, and Credits
Graded Tax Return - Section 4 Payments and Refund
Federal Taxation I: Individuals, Employees, and Sole Proprietors at Coursera Admission Process
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