What you’ll learn
- How to fill out a tax return
- How to calculate taxes with the tax formula
- How to use tax software to complete complex tax returns
- How to use an Excel control worksheet to check work
This course includes:
- 8 hours of video on demand
- 5 resources to download
- Completion Certificate
Description
This is a project-based income tax course.
We create complex tax returns step by step, starting with a simple declaration and building up the complexity over time.
This course demonstrates data entry into a 2020 income tax form, as well as using an Excel spreadsheet to verify figures and demonstrate use of tax software.
Using tax software and Excel spreadsheets formatted like income tax equations is a common and best practice for many tax professionals, a technique that greatly enhances understanding and accuracy.
A practical matter of getting started using basic tax data entry forms such as Form W-2 and Form 1099. We then add the deductions itemized under Appendix A. The problem will eventually involve rental income or losses from Appendix C and Appendix E.
The course material includes a sample tax form that follows many steps in practice questions. We’ll also include an Excel worksheet template to use in the instructional video.
We will use the Lacerte control software. You don’t need to have the Lacerte tax software to join. If you don’t have tax software, you can still follow the tax forms on the IRS website and use an Excel spreadsheet. Other control software can also be used in the same way.
In some cases, Lacerte may offer a 30-day free trial of the tax software.
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