Individual & Business Tax Fundamentals
Master U.S. federal tax concepts for individuals and businesses, covering income calculation, deductions, and tax planning.
Master U.S. federal tax concepts for individuals and businesses, covering income calculation, deductions, and tax planning.
This course cannot be purchased separately - to access the complete learning experience, graded assignments, and earn certificates, you'll need to enroll in the full U.S. Federal Taxation Specialization program. You can audit this specific course for free to explore the content, which includes access to course materials and lectures. This allows you to learn at your own pace without any financial commitment.
4.9
(635 ratings)
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English
پښتو, বাংলা, اردو, 3 more
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What you'll learn
Calculate and report individual federal tax obligations
Identify taxable income and allowable deductions
Apply tax rules for employees and self-employed individuals
Prepare Form 1040 and related schedules
Understand retirement plan tax implications
Navigate IRS regulations and tax law sources
Skills you'll gain
This course includes:
7.9 Hours PreRecorded video
61 quizzes
Access on Mobile, Tablet, Desktop
FullTime access
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There are 9 modules in this course
This comprehensive course explores the U.S. federal tax system as it applies to individuals, employees, and sole proprietors. It covers fundamental concepts including gross income calculation, statutory inclusions and exclusions, personal and business deductions, and the distinction between employee and self-employed tax treatments. The course provides practical experience with Form 1040 preparation and includes detailed coverage of business deductions, itemized deductions, and retirement planning.
Introduction to the Course
Module 1 · 53 Minutes to complete
An Introduction to Taxation
Module 2 · 5 Hours to complete
Computing the Tax
Module 3 · 5 Hours to complete
Gross Income
Module 4 · 2 Hours to complete
Gross Income: Exclusions
Module 5 · 2 Hours to complete
Deductions and Losses: In General
Module 6 · 3 Hours to complete
Business Deductions
Module 7 · 3 Hours to complete
Itemized Deductions and Retirement Plans
Module 8 · 4 Hours to complete
Comprehensive Example
Module 9 · 3 Hours to complete
Fee Structure
Instructor
Senior Lecturer of Accountancy
Matthew A. Hutchens is a Senior Lecturer of Accountancy at the University of Illinois Urbana-Champaign, where he has been teaching since 2017. He holds a J.D. from Indiana University and a B.S. in Accounting and Finance from the same institution. Hutchens has a diverse professional background that includes serving as a staff attorney for Indiana Legal Services' Low Income Taxpayer Clinic and working in tax services at Crowe Horwath LLP. His teaching focuses on various aspects of taxation, including Principles of Taxation, Federal Taxation, and Multistate Taxation, where he emphasizes practical applications and problem-solving skills relevant to the accounting profession. Hutchens has published several works on federal tax relief processes and has received multiple accolades for his teaching effectiveness, including recognition on the List of Teachers Ranked as Excellent by their Students. His commitment to education and practical experience in tax law make him a valuable resource for students pursuing careers in accountancy.
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4.9 course rating
635 ratings
Frequently asked questions
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