The Internal Revenue Code offers numerous tax credits for individuals, families and many different types of businesses and industries. Although these credits cover many different situations, they all have the common goal of reducing the taxes otherwise payable by the recipients.
The Internal Revenue Code offers numerous tax credits for individuals, families and many different types of businesses and industries. Although these credits cover many different situations, they all have the common goal of reducing the taxes otherwise payable by the recipients.
Tax credits can be very helpful to reduce your client's tax liability, and knowing the rules for each credit can drastically reduce their liability.
The course will focus on the more common credits you might see in your tax practice, including the supporting schedules and forms that are used to calculate the credits. We will discuss the Earned Income Tax Credit but will focus mainly on your responsibility as a tax preparer when a client claims the credit.
Learning Objectives:
Upon completion of this course, you will be able to:
Infinity Schools is one of the most experienced and widely used insurance schools providing insurance continuing education and prelicensing training in the nation.
We have been providing insurance training to individuals nationwide since 1993. Over a quarter million individuals have used our insurance school since our inception in 1993.
Identify potential tax-saving strategies hidden within your Profit & Loss statement and Balance Sheet, unveiling opportunities that can drastically impact your financial health.
Our services include: individual and small business tax preparation services, bookkeeping services for start-ups and small businesses, and a variety of business consultation services.
This comprehensive course is intended for individuals to enter the tax profession and enable them to prepare individual tax returns for the public, including individual taxpayers who operate sole-proprietor businesses.
Learn how you can put money back into a business through specialty tax incentives such as the R&D Tax Credit, Employee Retention Tax Credit, 45L Tax Credit, 179D Deduction, and Cost Segregation.
This course explores individual income taxation issues, including tax determination; personal and dependents exemptions; concepts and inclusions of gross income; general deductions and losses; deduction of certain business expenses and losses.
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