Course Description
10-101-154 ACCOUNTING-PERSONAL TAX ...history and research of tax law and regulations; preparation of federal individual income taxes including form 1040 and supporting schedules and forms.
Course Typically Offered
Most NWTC classes are offered in 8-week sessions. Learn more about how our class schedule can help you succeed.
What will I learn?
- Define the history of Federal Taxation and the formula for tax determination.
- Define standard deductions and exemptions.
- Complete Federal tax forms.
- Identify gross income.
- Identify gross income exclusions.
- Categorize personal deductions and prepare Schedule A form.
- Identify business income, deductions, and calculate self-employment.
- Determine the tax consequences of other activities and prepare necessary forms.
- Determine income tax consequences of property transactions, including sales exchange, or other disposition of property.
- Identify property transactions that require recognition. Calculate gain or loss and complete necessary tax forms.
- Calculate tax credits and other taxes or taxing methods and complete necessary tax forms.
- Complete the TSA practice set for individuals.
Class list
3 classes found
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Class Number: ACCOUNT 10101154-3 - Accounting-Personal Tax
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Class Number: ACCOUNT 10101154-1 - Accounting-Personal Tax
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Class Number: ACCOUNT 10101154-2 - Accounting-Personal Tax