Over 190 Million taxpayers e-filed their taxes for Tax Year 2024. Of that 40%$ were self-prepared. There is room for you to become a preparer and help others with their tax return. Our live classes meet on Mondays at 7pm est.
In the Income Tax World anyone can pay a fee with the IRS to be granted the right to charge for preparing Income Tax Returns.
To effectively prepare multiple types of returns and get paid well for those services, having up to date Tax Education is a must. The first designation that allow the IRS to recommend you as a Preparer that believes in staying current with new tax laws and continued education is becoming an AFSP. The Annual Filing Season Program allows you to communicate with the IRS regarding tax files that you have prepared and filed for that year. Without the AFSP title the IRS will not include you on their website database to be found locally to new clients.
Ethics and Preparer Penalties
Becoming and staying an ethical Tax Preparer is an ongoing requirement to perform well as you preparer eFile Federal and State Income Tax Returns for compensation.
Course level: Beginner
ENROLL NOW!$32
Capital Gains and Losses
Identification of a capital asset (stocks, bonds, real estate, or other investments) and determine its basis before selling it is a core component of the learning material.
Course level: Advanced
ENROLL NOW!$32
Compiling Taxpayers Information
Go beyond asking basic questions from a form to learning interview strategies to better understand the taxpayer’s annual financial situation to compile an accurate 1040 return.
Course level: Intermediate
ENROLL NOW!$32
Schedule E = Rental Properties
Go beyond the basics of completing the Schedule E form for for Income and losses used by Individual Rental Owners, Estates, Partnerships, Trusts, and S-Corporations.
Course level: Advanced
ENROLL NOW!$32
Filing Statuses and Deductions
Gain an understanding of how to distinguish between filing statuses, dependent rules, and how to best apply deductions that lowers the amount of tax for the taxpayer with the most benefit.
Course level: Beginners
ENROLL NOW!$32
Electronic Filing
To file a return electronically between the months of January and November the individual needs to be an Authorized IRS e-File Provider. Persons can originate the electronic submission of a tax return.
Course level: Intermediate
ENROLL NOW!$25
Income and Sources of Income
Dive into what the IRS deems as Worldwide Income, what is taxable, non taxable, or subject to tax for legal or illegal activities and where that data should be documented.
Course level: Beginners
ENROLL NOW!$44
Schedule C = Small Business
Learn about the most popular business structure in the United States and how its owner reports their earned income depending on the accounting period and accounting method.
Course level: Intermediate
ENROLL NOW!$32
Depreciation
Go beyond the basics of depreciation (an allowance for the wear and tear, decline, or uselessness of a property) to determine how one recover the cost basis of their investment property over time.
Course level: Advanced
ENROLL NOW!$32
Schedule F = Farming Income
Gain an understanding of the flow that Farmers face when calculating their profit and loss from one form to where it falls within the Federal 1040 form depending on their designation.
Course level: Advanced
ENROLL NOW!$32
Adjustments to Income
Go beyond what you know about Taxable Income to see what expenses are applicable as identified to reduce the taxpayer's total income as above the line tax deductions.
Course level: Intermediate
ENROLL NOW!$25
Tax Credits and Payments
Distinguishing between the order of priority of credits that can be used to offset income tax or recapture treatment to create a refund for the taxpayer is a strategic with annual expansions.
Course level: Intermediate
ENROLL NOW!$32
Itemized Tax Deductions
Learn more about the procedure to use when a taxpayer's daily living essentials when listed are higher than the annual standard deduction and benefits their bottom line for tax savings.
Course level: Intermediate
$32
Uncommon Taxes
Occasionally when a taxpayer has excess Social Security tax, additional taxes on IRAs, the Alternative Minimum Tax, or household employment taxes they may be assessed penalties fort the overage.
Course level: Intermediate
ENROLL NOW!$32
Extensions and Amendments
The IRS allows qualified tax payers an automatic six-month extension of time to file if they are unable to submit a return by the due date or submit a revised return with a completed 1040X form.
Course level: Intermediate
ENROLL NOW!$25
It's time to start to think like your client. They will drop off their paperwork and within two hours they will begin to call, send text message, send emails, send DMs, etc. How will you handle it?
Your client may be enticed to learn that they can receive upwards of $6000 but is it in their best interest? Ask probing questions to determine the underlining issues before you proceed.
Your client will always have questions that are outside of your initial tax training and that is okay. You now have a support network to ask question and get clarity before you respond to the client.
Learn daily, engage, market, and love your choice. You decided to become a knowledgeable Income Tax Preparer and are on your way to becoming a Great Tax Professional.