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Tax Accounting Made Easy to Understand

(2 customer reviews)

₦18,796.28

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Description

Tax Accounting Made Easy to Understand” is a comprehensive course designed to demystify the complexities of tax accounting and provide participants with a clear and practical understanding of tax principles and regulations.

Through accessible language and real-world examples, this course breaks down key concepts in tax accounting, including income recognition, deductions, credits, and tax planning strategies. Participants will learn how to navigate the ever-changing landscape of tax laws and regulations, ensuring compliance while maximizing tax benefits for individuals and businesses alike.

From basic tax calculations to more advanced topics such as depreciation, amortization, and tax optimization strategies, this course covers a wide range of tax accounting principles essential for making informed financial decisions.

Whether you’re a small business owner, an individual taxpayer, or an accounting professional seeking to enhance your skills, “Tax Accounting Made Easy to Understand” provides the foundational knowledge and practical insights needed to navigate the complexities of tax accounting with confidence and ease.

What you'll learn

  • Describe and apply the tax law
  • Distinguish between Tax Avoidance and Tax Evasion
  • Identify the social, poltical, and economic factors influencing the tax law
  • Contrast Primary and Secondary Sources
  • Research the tax law and apply the appropriate procedures
  • Know the statutes of limitations and penalties imposed
  • Interpret the tax formula and its components
  • Determine personal and dependency exemptions
  • Determine the filing status of a taxpayer
  • Identify a qualifying child and a qualifying relative
  • Interpret multiple support agreements
  • Understand the special rules for dependents
  • Identify what is included in gross income
  • Differentiate between legal income and accounting and economic income
  • Apply the constructive receipt doctrine
  • Apply the assignment of income doctrine
  • Apply the economic benefit doctrine
  • Identify the items specifically excluded from gross income
  • Contrast between deduction and exclusions
  • Treatment of fringe benefits
  • Deductions FOR and FROM AGI
  • Apply trade or business deductions
  • Deductions for losses
  • Understand the rules for limitations of deductions
  • Identify the disallowed deductions
  • At Risk rules and passive activity losses
  • Material VS. Active Participation
  • Casualty and Theft Losses
  • Rules for Net Operating Losses
  • Know the rules for Hobby Losses, Home Office Expenses, Vacation Home Expenses
  • Apply the rules for itemized deductions and the appropriate treatment
  • Treatment of charitable contributions
  • Various credits available
  • Determine realized and recognized gains and losses
  • Determine adjusted basis of property
  • Determine adjusted basis of property (Gift and Inheritance)
  • Differentiate between ordinary, capital , and 1231 assets
  • Determine the holding period
  • Rules for determining taxable income (Capital Gains and Losses)
  • Rules for Section 1231 Assets (Section 1245 and Section 1250)
  • Depreciation Recapture
  • Tax Accounting (Methods, Rules, Accounting Periods)

2 reviews for Tax Accounting Made Easy to Understand

  1. Ugochi –

    I can’t recommend this course enough! The instructor’s passion for tax accounting shines through in every lecture, and I found myself fully engaged from start to finish. The course covers everything from basic tax principles to more advanced topics like deductions and credits, and the instructor’s clear explanations make it easy to follow along. I appreciated the emphasis on real-world applications and the downloadable resources provided. Whether you’re new to tax accounting or looking to refresh your skills, this course offers valuable insights that will help you succeed.

  2. Modinat –

    This course is a game-changer for anyone looking to demystify tax accounting! The instructor’s expertise and clear explanations make complex tax concepts easy to understand, even for beginners like me. I appreciated the step-by-step approach and practical examples, which helped me grasp the material quickly. Whether you’re a business owner, accountant, or just someone looking to understand their taxes better, this course provides a solid foundation for navigating the world of tax accounting with confidence. Highly recommended.

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