Rs. 23,999/
This comprehensive training is your gateway to mastering the fundamentals of U.S.A taxation, covering
both individual and corporate tax essentials. Whether you're an aspiring tax preparer, seasoned
professional, or finance enthusiast, this course provides an in-depth understanding of the U.S.A tax
system, focusing on compliance, preparation, and reporting.
The course is designed to demystify
complex tax laws, highlighting key sections of the Internal Revenue Code (IRC), and offering practical
skills for accurate tax return preparation for individuals and businesses.
1) Overview of U.S.A Individual Taxes
2) Income Determination
3) Deductions and Credits
4) Form 1040 Preparation
5) Introduction to Business Taxes
6) Corporate Income, Deductions, and Credits
7) Forms 1120, 1120-S, and 1065 Preparation
8) Navigating IRS Compliance
9) Real-World Scenarios
- Comprehensive knowledge of U.S.A individual and corporate tax laws
- How to prepare and file Forms 1040, 1120, 1120-S, and 1065 with precision
- Effective strategies for tax compliance and optimization
- Practical skills to navigate the Internal Revenue Code confidently
Understanding U.S.A taxes is vital for financial success, both personally and professionally. It empowers you to comply with regulations, optimize tax outcomes, and confidently manage tax-related responsibilities for yourself or your business.
- Tax Professionals and Accountants
- Finance Professionals
- Business Owners and Entrepreneurs
- Aspiring Tax Preparers and Students of Accounting
This course is beginner-friendly and requires no prior experience in taxation. It’s perfect for anyone seeking to expand their tax knowledge or develop practical skills in tax preparation.
90-100 Hours
4 Months
3 Hours each on Saturday and Sunday Morning
February 15, 2025
Get introduced to essential tax concepts and foundational knowledge necessary for understanding U.S.A tax filings.
Learn how to determine the correct filing status and its impact on tax rates and deductions.
Understand the rules for claiming dependents and how they affect your tax return and benefits.
Explore the distinction between taxable and non-taxable income and how to properly categorize earnings.
Master the treatment of investment income, including interest, dividends, and related expenses.
Learn how to calculate and understand the basis of assets for tax purposes, including adjustments and depreciation.
Understand the concept of capital gains and losses, including the tax implications of asset sales.
Explore tax rules for nonrecognition transactions, including exchanges and transfers of property.
Learn how to report rental and royalty income, along with deductions and credits associated with them.
Master the various adjustments that reduce gross income, affecting your taxable income and overall tax liability.
covers the concepts of standard deduction and itemized deductions, explaining their impact on tax calculations and eligibility criteria.
Individual Tax Credits explores various tax credits available to individuals, highlighting their eligibility requirements and how they reduce taxable income.
1. Form 1065: U.S.A Return of Partnership Income
Overview of Partnerships and Filing Requirements
Components of Form 1065 (Income, Deductions, and Schedules)
K-1 Forms for Partners
2. Form 1120: U.S.A Corporation Income Tax Return
Filing Requirements for Corporations
Breakdown of Form 1120 (Income, Deductions, and Taxable Income)
Special Considerations for Corporate Taxpayers
3. Form 1120-S: U.S.A Income Tax Return
for an S-Corporation
S-Corporation Election and Eligibility
Differences Between Form 1120 and Form 1120-S
Distributing K-1s to Shareholders
4. Form 940: Employer’s Annual Federal Unemployment (FUTA) Tax
Return
Overview of FUTA Tax Obligations
Preparing and Filing Form 940
5. Form 941: Employer's Quarterly Federal Tax Return
Reporting Employee Wages and Withholding Taxes
Calculating Deposits and Payments
6. Form 1095-C: Employer-Provided Health Insurance
Offer and Coverage
ACA Reporting Requirements for Large Employers
Form 1095-C Compliance and Distribution
7. Form 720: Quarterly Federal Excise Tax Return
Types of Excise Taxes and Filing Requirements
Completing and Submitting Form 720
8. Form 5471: Information Return of U.S.A Persons
with Respect to Certain Foreign Corporations
Who Must File Form 5471
Key Information and Schedules
9. Form 5472: Information Return of a 25% Foreign-Owned
U.S.A Corporation
Filing Requirements for Foreign-Owned Corporations
Details Required for Form 5472
10. Form 8829: Expenses for Business Use of Your Home
Eligibility and Expense Calculations
Simplified vs. Detailed Method
11. Form 8995: Qualified Business Income Deduction
Simplified Computation
Overview of QBI Deduction
Completing Form 8995 for Small Businesses
12. Form 4562: Depreciation and Amortization
Deducting Depreciation for Business Assets
Section 179 and Bonus Depreciation
13. Form 2553: Election by a Small Business
Corporation
Filing an S-Corporation Election
Deadlines and Implications
14. Form 8938: Statement of Specified Foreign Financial Assets
FATCA Requirements and Filing Thresholds
Reporting Foreign Financial Assets
15. Form 8996: Qualified Opportunity Fund (QOF)
Overview of Opportunity Zones
Reporting and Compliance for QOF Investments
16. Form 1045: Application for Tentative Refund
Filing for Refunds Using Carrybacks
Key Deadlines and Processes
17. Form 8881: Credit for Small Employer Pension Plan
Startup Costs
Eligibility for Startup Plan Credits
Claiming the Credit on Tax Returns
18. Form 8832: Entity Classification Election
Choosing a Business Entity for Tax Purposes
Completing and Submitting Form 8832