Online Tax Preparation Class Curriculum
Our online Tax Preparation Class Curriculum teaches standards for preparing and filing federal tax returns on behalf of individuals and small businesses. You will learn how to determine taxable and non-taxable income, calculate income from various sources, deduct expenses or losses for individuals, and you will review income related to small business income. Apply your knowledge in a final project that simulates an actual tax return.
Orientation: Learning at Ashworth
In this course, you’ll examine the goals and values of Ashworth College, time management, creating a realistic weekly and monthly study schedule, the nature and purpose of assessments, how to study effectively to prepare for and take an online examination, and developing the skill sets necessary for success in the twenty-first century.
By the end of this course, you’ll be able to:
Lesson Group 1: Filing Status and Income Basics
This course will begin with analyzing components of small business operations and self-employment, including career opportunities in tax preparation. From this, you’ll examine the guiding principles of the US tax system along with taxpayer responsibilities and filing status. The course then details the fundamental elements of taxable and nontaxable income, from compensation and interest to retirement programs and social security.
By the end of this course, you’ll be able to:
Evaluate business plans and self-employment opportunities alongside competition data, market research, and funding options.
Describe career opportunities with formal training in tax preparation.
Explain the US tax system, focusing on taxpayers and their responsibilities.
Determine common sources of taxable and nontaxable income, including forms of compensation and benefits.
Understand the implications of retirement plans, social security, and inheritance when calculating income.
Lesson Group 2: Property Income and Deductions
This course will further explore income that arises from real estate and intellectual property. With the study of income concluded, you’ll study common types of tax deductions, determining when to itemize deductions or take the standard deduction. The course continues the study of deduction with different types of losses as well as business expenses. Lastly, you’ll explore personal tax exemptions.
By the end of this course, you’ll be able to:
Describe the tax implications of income from real estate and intellectual properties.
Analyze common tax deductions.
Determine tax preparation approaches with regard to deductions.
Examine tax deductions arising from losses and expenses.
Detail the requirements for personal exemptions.
Lesson Group 3: Small Business Clients and Returns Filing
This course will provide insight into tax preparation for sole proprietors and the self-employed, detailing the rules and
allowances. You’ll then study the methods of tax calculation, followed by the procedures for making payments and
filing tax returns.
By the end of this course, you’ll be able to:
Explain the unique tax rules and allowances that pertain to sole proprietors and the self-employed.
Master the processes for calculating estimated taxes and tax refunds.
Describe the procedures for filing taxes, making payments, and receiving refunds.
Tax Preparation Program Description
To provide students with formal training in the preparation and submission of US tax returns for individuals and small businesses, focusing on various types of incomes and deductions while closely following the requirements and procedures for calculating and filing taxes.
After completing the Tax Preparation program, students will be able to:
Recognize and describe laws and regulations related to taxation for both individuals and small businesses, and apply these appropriately to the preparation of tax forms.
Calculate gross income and identify those elements of income that are included and excluded when making this calculation; identify common itemized deductions, including medical expenses, taxes, charitable contributions, and others; identify and calculate tax losses; identify and calculate deductible business expenses.
Apply capital gains and losses to property transactions.
Accurately complete a basic Form 1040 Individual Tax Return with typical itemized deductions for a family.
Ashworth College's API Program Name Career Diploma program helps you develop the confidence you need to reach for your career goals because we integrate job search prep into your studies. With the online tools at the Ashworth College Central Network, you’ll get step-by-step guidance as you create polished, professional resumes and letters. After you graduate, you’ll keep your Ashworth College Central Network account so you can revisit the tools any time you need to make a good impression on a potential employer. Learn more about it at the Career Services page.
