BASIC INCOME TAXES 

 

Cost: $80.00 for entire course; $10.00 for a particular lesson.

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Course Description: This is a 6 week course that teaches you the core basics of income taxes. It will not make you a tax preparer but it will teach you to understand the very basics of income tax preparation. *The course will end with a final project - to prepare a simple tax return*. If there are any topics you want that are not in the syllabus below, please email us and we can make arrangements for you (normal course/lesson fees will apply). 

Course Outline Lesson 1: Filing information and status
             -   Who is required to file?
             -   Filing status      


Lesson 2: Exemptions and major income
               -  Personal and Dependent Exemptions
               -  Types of income

Lesson 3: Other income and basic deductions
              -  Interest and Dividends (Schedule B)
              -  Standard deduction and Itemized deductions (Schedule A) 

Lesson 4: Popular credits
               -  Child tax credit and Additional child tax credit
               -  Earned Income credit
               -  Child and dependent care expenses

Lesson 5: Other deductions and credits
              -  Student loan interest deduction
              -  Moving expenses and Making Work Pay credit (For 2010)


Lesson 6: Schedule C (Income taxes for sole proprietors)
               -  Determining Income and Expenses
               -  Importance of estimated taxes