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.
Ce cours fait partie de la Spécialisation U.S. Federal Taxation
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Spécialisation U.S. Federal TaxationUniversité de l'Illinois à Urbana-ChampaignÀ propos de ce cours
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Résultats de carrière des étudiants
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ont commencé une nouvelle carrière après avoir terminé ce cours
36%
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29%
a obtenu une augmentation de salaire ou une promotion
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Niveau intermédiaire
Approx. 29 heures pour terminer
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Sous-titres : Arabe, Français, Portugais (européen), Chinois (simplifié), Italien, Vietnamien, Coréen, Allemand, Russe, Turc, Anglais, Espagnol
Résultats de carrière des étudiants
33%
ont commencé une nouvelle carrière après avoir terminé ce cours
36%
ont bénéficié d'un avantage concret dans leur carrières grâce à ce cours
29%
a obtenu une augmentation de salaire ou une promotion
Certificat partageable
Obtenez un Certificat lorsque vous terminez
100 % en ligne
Commencez dès maintenant et apprenez aux horaires qui vous conviennent.
Cours 1 sur 5 dans le
Dates limites flexibles
Réinitialisez les dates limites selon votre disponibilité.
Niveau intermédiaire
Approx. 29 heures pour terminer
Anglais
Sous-titres : Arabe, Français, Portugais (européen), Chinois (simplifié), Italien, Vietnamien, Coréen, Allemand, Russe, Turc, Anglais, Espagnol
Offert par
Université de l'Illinois à Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
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Ce cours fait partie du diplôme intégralement en ligne Master of Science in Accountancy (iMSA) de Université de l'Illinois à Urbana-Champaign.
Si vous êtes admis(e) au programme complet, vos cours sont pris en compte dans votre apprentissage diplômant.
Programme du cours : ce que vous apprendrez dans ce cours
1 heure pour terminer
INTRODUCTION TO THE COURSE
In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.
1 heure pour terminer
3 vidéos (Total 8 min), 3 lectures
3 vidéos
About Professor Matthew Hutchens1 min
About Professor Petro Lisowsky3 min
3 lectures
Syllabus15 min
About the Discussion Forums5 min
Update Your Profile5 min
4 heures pour terminer
MODULE 1: AN INTRODUCTION TO TAXATION
In this module, you will be introduced to the different kinds of taxes faced by US taxpayers and the US federal income tax structure. The origin of tax law and its constitutionality is discussed along with a brief history of the different changes in rates that have occurred since the 16th Amendment was passed. Finally, we will discover the three different sources of new tax laws and rules.
4 heures pour terminer
9 vidéos (Total 75 min), 6 lectures, 10 quiz
9 vidéos
Taxes: An Introduction10 min
Evaluating a Tax System4 min
The Tax Structure11 min
The Tax Structure: Examples6 min
Types of Taxes14 min
Origins of Tax Law4 min
Statutory Sources of Tax Law6 min
Administrative Sources of Tax Law9 min
Judicial Sources of Tax Law7 min
6 lectures
Module 1 Overview and Resources10 min
The 2017 Tax Revision15 min
Wealth of Nations and AICPA's Guiding Principles of Good Tax Policy (optional)15 min
Who Pays Federal Taxes?5 min
How Do Marginal Tax Rates Work10 min
1862 and 1913 Tax Forms (optional)5 min
10 exercices pour s'entraîner
Lesson 1.1 Knowledge Check10 min
Lesson 1.2 Knowledge Check10 min
Lesson 1.3 Knowledge Check10 min
Lesson 1.4 Knowledge Check10 min
Lesson 1.5 Knowledge Check10 min
Lesson 1.6 Knowledge Check10 min
Lesson 1.7 Knowledge Check10 min
Lesson 1.8 Knowledge Check10 min
Lesson 1.9 Knowledge Check10 min
Module 1 Quiz30 min
5 heures pour terminer
MODULE 2: COMPUTING THE TAX
In this module, we will take a deeper dive into each part of the US federal income tax structure, with a focus on what is included in gross income. We will learn how for-AGI deductions reduce gross income to generate adjusted gross income, or AGI, and why AGI is an important number that determines the floors and ceilings of many from-AGI deductions. We will also discuss who qualifies as a dependent. We will wrap up the module with a discussion of the actual calculation of the tax as well as filing status and filing requirements.
5 heures pour terminer
8 vidéos (Total 72 min), 9 lectures, 7 quiz
8 vidéos
Gross Income8 min
Deductions and AGI6 min
Qualifying Children and Qualifying Relatives - Part 112 min
Qualifying Children and Qualifying Relatives Part 212 min
Tax Calculation9 min
Filing Status10 min
Filing Requirements and Other Dependent Issues6 min
The "Kiddie" Tax5 min
9 lectures
Module 2 Overview and Resources10 min
Standard Deduction Amounts for 2018 and 201910 min
Qualifying Child and Qualifying Relative Tests10 min
The Child Tax Credit: Current Law20 min
Tax Rate Schedules for 202010 min
Tax Rate Schedules for 201910 min
Tax Rate Schedules for 201810 min
Former Kiddie Tax Rules Restored15 min
Overview of the Federal Tax System in 201930 min
7 exercices pour s'entraîner
Lesson 2.1 Knowledge Check10 min
Lesson 2.2 Knowledge Check10 min
Lesson 2.3 Knowledge Check10 min
Lesson 2.4 Knowledge Check10 min
Lesson 2.5 Knowledge Check10 min
Lesson 2.6 Knowledge Check10 min
Module 2 Quiz30 min
3 heures pour terminer
MODULE 3: GROSS INCOME
In this module, you will take a deeper dive into gross income, specifically regarding statutory inclusions. Congress, the courts, and the IRS have specific rules on whether and when certain income items are included as gross income. These rules provide clarification in situations where it is unclear whether money or property received should actually be included as income.
3 heures pour terminer
6 vidéos (Total 59 min), 1 lecture, 7 quiz
6 vidéos
Gross Income: Concepts15 min
Accounting Methods6 min
Accounting Method Exceptions7 min
Gross Income I: Alimony, Discharge of Indebtedness, Annuities11 min
Gross Income: Example7 min
Gross Income II: Prizes, Life Insurance, Unemployment Compensation, Social Security Benefits11 min
1 lecture
Module 3 Overview and Resources10 min
7 exercices pour s'entraîner
Lesson 3.1 Knowledge Check10 min
Lesson 3.2 Knowledge Check10 min
Lesson 3.3 Knowledge Check10 min
Lesson 3.4 Knowledge Check10 min
Lesson 3.5 Knowledge Check10 min
Lesson 3.6 Knowledge Check10 min
Module 3 Quiz30 min
3 heures pour terminer
MODULE 4: GROSS INCOME: EXCLUSIONS
In this module, you will take a deeper dive into gross income, specifically regarding statutory exclusions. Congress, the courts, and the IRS allow exclusions of money or property received by the taxpayer for various reasons.
3 heures pour terminer
5 vidéos (Total 53 min), 2 lectures, 6 quiz
5 vidéos
Scholarships, Payments for Damages, Compensation for Injuries and Sickness17 min
Meals and Lodging, Recovery of Capital Issues10 min
Employee Fringe Benefits: Non-Discriminatory11 min
Employee Fringe Benefits: Discriminatory5 min
2 lectures
Module 4 Overview and Resources10 min
Sharing "Goodreads"10 min
6 exercices pour s'entraîner
Lesson 4.1 Knowledge Check10 min
Lesson 4.2 Knowledge Check10 min
Lesson 4.3 Knowledge Check10 min
Lesson 4.4 Knowledge Check10 min
Lesson 4.5 Knowledge Check10 min
Module 4 Quiz30 min
Avis
Meilleurs avis pour FEDERAL TAXATION I: INDIVIDUALS, EMPLOYEES, AND SOLE PROPRIETORS
par TR12 avr. 2020
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.
par SS15 févr. 2020
I thoroughly enjoyed the course. The presenters were very thorough and detailed. the examples given were very simple and understandable. i look forward to continuing on this Taxation journey
par JR18 nov. 2020
Great content and really learned a lot. Would have liked some more examples or formulas to use and print out to keep handy, especially in doing some of the AGI floors. but otherwise, great!
par RG5 sept. 2018
Completed on September 5, 2018 - excellent introduction course that can lead to a Coursera Certificate titled "U.S. Federal Taxation Specialization" sponsored by the University of Illinois.
À propos du Spécialisation U.S. Federal Taxation
This Specialization introduces the U.S. federal tax system via conceptual and applied material. Learners will be able to apply basic principles to settings involving individuals, corporations, and other business entities, complete key components of major, individual U.S. federal tax returns, and identify tax-related strategies and implications of structuring transactions and organizations.
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