Federal Taxation I Individuals, Employees, and Sole Proprietors

This course is the first course in a five-course US Federal Tax Specialization. It covers and focuses on the U.S. federal tax system as it relates to individuals, employees, and sole proprietors. Key concepts covered include gross income and items that are statutorily included or excluded in it, personal and business expenses that qualify as tax deductions, and the differing tax treatments for employees versus self-employed taxpayers. Unlike many other introductory courses in tax and as part of this course’s comprehensive wrap-up, learners will be provided with practical and tangible experience reporting both income and expenses on the main individual tax return used in the US, Form 1040.If you have enjoyed this course, consider enrolling in our online graduate Accounting program. The University of Illinois at Urbana-Champaign, consistently ranked as one of the nation’s top three accounting programs, now offers a master’s in accounting at a very affordable tuition rate and is completely online. The iMSA is a full Master of Accountancy program and students graduate with an MS that is highly recognized. Try an open course or two, then apply for admission into the credit-bearing version as you may be eligible to take credit-bearing courses during the application process. If you are missing any prerequisites for the full degree, you can complete Coursera courses to demonstrate readiness and strengthen your application for the iMSA. For more information on this exciting iMSA online program, refer to this link: https://www.coursera.org/degrees/imsa

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Syllabus

Syllabus - What you will learn from this course
Week 1
INTRODUCTION TO THE COURSE
MODULE 1: AN INTRODUCTION TO TAXATION
Week 2
MODULE 2: COMPUTING THE TAX
Week 3
MODULE 3: GROSS INCOME
Week 4
MODULE 4: GROSS INCOME: EXCLUSIONS
Week 5
MODULE 5: DEDUCTIONS AND LOSSES: IN GENERAL
Week 6
MODULE 6: BUSINESSS DEDUCTIONS
Week 7
MODULE 7: ITEMIZED DEDUCTIONS AND RETIREMENT PLANS
Week 8
MODULE 8: COMPREHENSIVE EXAMPLE

FAQ

When will I have access to the lectures and assignments?

Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:

The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.

The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.

What will I get if I subscribe to this Specialization?

When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

Is financial aid available?

Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

Reviews

This was a great introduction into Federal Taxation. It gave excellent examples of all of the components that go into a 1040 tax prep. I loved the course and I feel the professors did an amazing job.

I didnt see Healh insurance Explanation and forms to fill out.

Any how, this course is EXCELLENT.

THANK YOU Instructors and the rest of the team that make it posible.

I am very happy and exited that i complete the course of Federal Taxation I: Individuals, Employees, and Sole Proprietors , I want to complete rest of the course of US FEDERAL TAXATION.

Very easy and fluid course. The step by step is clear.

Perhaps just improving the feedback when you get a wrong answer in the quizzes it would be helpful.