À propos de ce cours : 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
Les destinataires de ce cours : This course is designed for learners who want to obtain an introductory knowledge of US Federal Taxation on individuals, employees, and sole-proprietors. While the foundations laid in this course are critical for those who seek a career within the accounting profession, they are essential for all who are in the field of business as taxes are often the largest single expense of most companies! Upon completion of this course you should have a good understanding of the theoretical and technical aspects of individual taxation.
Créé par : University of Illinois at Urbana-Champaign
Enseigné par : Matthew Hutchens, Lecturer of Accountancy
Department of AccountancyEnseigné par : Petro Lisowsky, PhD, CPA, Associate Professor of Accountancy
College of Business: Department of Accountancy
| Informations de base | Cours 1 de 5 dans U.S. Federal Taxation Specialization |
| Niveau | Intermédiaire |
| Engagement | 6-8 hours/week |
| Langue | Anglais |
| Comment réussir | Réussissez tous les devoirs notés pour terminer le cours. |
| Notes des utilisateurs |
Terminez ce cours pour travailler en vue de :
Spécialisation U.S. Federal Taxation
Ce cours fait partie de la Spécialisation U.S. Federal Taxation de 5 cours proposée par University of Illinois at Urbana-Champaign
Master of Science in Accountancy (iMSA)
Ce cours fait partie du programme de 16 eight-week courses diplômes intégralement en ligne
Programme de cours
SEMAINE 1
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 vidéo, 4 lectures, 1 quiz pour s'exercer
- Reading: A Note from Your Instructor
- Reading: Syllabus
- Reading: About the Discussion Forums
- Practice Quiz: Orientation Quiz
- Reading: Update Your Profile
- Discussion Prompt: Get to Know Your Fellow Learners
MODULE 1: AN INTRODUCTION TO TAXATION
In this module, you will be introduced to the different kinds of taxes faced by U.S. taxpayers and the U.S. 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.
9 vidéos, 1 lecture, 9 quiz pour s'exercer
- Discussion Prompt: Make Connections to Topic
- Reading: Module 1 Overview and Resources
- Practice Quiz: Lesson 1.1 Knowledge Check
- Vidéo: Evaluating a Tax System
- Practice Quiz: Lesson 1.2 Knowledge Check
- Vidéo: The Tax Structure
- Practice Quiz: Lesson 1.3 Knowledge Check
- Vidéo: The Tax Structure: Examples
- Practice Quiz: Lesson 1.4 Knowledge Check
- Vidéo: Types of Taxes
- Practice Quiz: Lesson 1.5 Knowledge Check
- Vidéo: Origins of Tax Law
- Practice Quiz: Lesson 1.6 Knowledge Check
- Vidéo: Statutory Sources of Tax Law
- Practice Quiz: Lesson 1.7 Knowledge Check
- Vidéo: Administrative Sources of Tax Law
- Practice Quiz: Lesson 1.8 Knowledge Check
- Vidéo: Judicial Sources of Tax Law
- Practice Quiz: Lesson 1.9 Knowledge Check
Noté: Module 1 Quiz
SEMAINE 2
MODULE 2: COMPUTING THE TAX
In this module, we will take a deeper dive into each part of the U.S. 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 which 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.
6 vidéos, 3 lectures, 6 quiz pour s'exercer
- Reading: Module 2 Overview and Resources
- Practice Quiz: Lesson 2.1 Knowledge Check
- Vidéo: Deductions and AGI
- Reading: Standard Deduction Amounts for 2018
- Practice Quiz: Lesson 2.2 Knowledge Check
- Vidéo: Qualifying Children and Qualifying Relatives
- Practice Quiz: Lesson 2.3 Knowledge Check
- Vidéo: Tax Calculation
- Reading: Tax Rate Schedules for 2018
- Practice Quiz: Lesson 2.4 Knowledge Check
- Vidéo: Filing Status
- Practice Quiz: Lesson 2.5 Knowledge Check
- Vidéo: Filing Requirements and Other Dependent Issues
- Practice Quiz: Lesson 2.6 Knowledge Check
Noté: Module 2 Quiz
SEMAINE 3
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.
6 vidéos, 1 lecture, 6 quiz pour s'exercer
- Reading: Module 3 Overview and Resources
- Practice Quiz: Lesson 3.1 Knowledge Check
- Vidéo: Accounting Methods
- Practice Quiz: Lesson 3.2 Knowledge Check
- Vidéo: Accounting Method Exceptions
- Practice Quiz: Lesson 3.3 Knowledge Check
- Vidéo: Gross Income I: Alimony, Discharge of Indebtedness, Annuities
- Practice Quiz: Lesson 3.4 Knowledge Check
- Vidéo: Gross Income: Example
- Practice Quiz: Lesson 3.5 Knowledge Check
- Vidéo: Gross Income II: Prizes, Life Insurance, Unemployment Compensation, Social Security Benefits
- Practice Quiz: Lesson 3.6 Knowledge Check
Noté: Module 3 Quiz
SEMAINE 4
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.
5 vidéos, 2 lectures, 5 quiz pour s'exercer
- Reading: Module 4 Overview and Resources
- Reading: Sharing "Goodreads"
- Practice Quiz: Lesson 4.1 Knowledge Check
- Vidéo: Scholarships, Payments for Damages, Compensation for Injuries and Sickness
- Practice Quiz: Lesson 4.2 Knowledge Check
- Vidéo: Meals and Lodging, Recovery of Capital Issues
- Practice Quiz: Lesson 4.3 Knowledge Check
- Vidéo: Employee Fringe Benefits: Non-Discriminatory
- Practice Quiz: Lesson 4.4 Knowledge Check
- Vidéo: Employee Fringe Benefits: Discriminatory
- Practice Quiz: Lesson 4.5 Knowledge Check
Noté: Module 4 Quiz
SEMAINE 5
MODULE 5: DEDUCTIONS AND LOSSES: IN GENERAL
In this module, you will learn about deductions, which is the term used in tax to describe an expense that is allowed to reduce a taxpayer’s tax liability. You will discover what adjusted gross income is, why it is important, and how to calculate it. You will also learn the difference in tax treatments for special types of acitivites, such as hobbies and rentals.
8 vidéos, 1 lecture, 8 quiz pour s'exercer
- Reading: Module 5 Overview and Resources
- Practice Quiz: Lesson 5.1 Knowledge Check
- Vidéo: Trade or Business Deductions: Concepts
- Practice Quiz: Lesson 5.2 Knowledge Check
- Vidéo: Timing of Deductions
- Practice Quiz: Lesson 5.3 Knowledge Check
- Vidéo: Trade or Business Deductions: Political Contributions, Lobbying, Executive Compensation
- Practice Quiz: Lesson 5.4 Knowledge Check
- Vidéo: Investigation Costs
- Practice Quiz: Lesson 5.5 Knowledge Check
- Vidéo: Hobby Losses
- Practice Quiz: Lesson 5.6 Knowledge Check
- Vidéo: Vacation Home Rental Deductions
- Practice Quiz: Lesson 5.7 Knowledge Check
- Vidéo: Vacation Home Rental Deductions: Example
- Practice Quiz: Lesson 5.8 Knowledge Check
Noté: Module 5 Quiz
SEMAINE 6
MODULE 6: DEDUCTIONS AND LOSSES: ITEMIZED VS BUSINESS
In this module, we first turn our focus to expenses that qualify as itemized deductions, which are a from AGI deduction. We will also learn about another from AGI deduction, the new 20% deduction for qualified business income, which while a from AGI deduction is not an itemized deduction. And, we will discuss other business deductions such as bad debts and net operating losses. Finally, we'll discuss deductions for losses on worthless securities and certain qualifying small business stock.
5 vidéos, 1 lecture, 5 quiz pour s'exercer
- Reading: Module 6 Overview and Resources
- Practice Quiz: Lesson 6.1 Knowledge Check
- Vidéo: Itemized Deductions: Taxes, Interest, and Charitable Contributions
- Practice Quiz: Lesson 6.2 Knowledge Check
- Vidéo: Business Expenses: Bad Debts
- Practice Quiz: Lesson 6.3 Knowledge Check
- Vidéo: Business Expenses: Qualified Business Income, NOLs, and Casualty Losses
- Practice Quiz: Lesson 6.4 Knowledge Check
- Vidéo: Worthless Securities and Small Business Stock
- Practice Quiz: Lesson 6.5 Knowledge Check
Noté: Module 6 Quiz
SEMAINE 7
MODULE 7: DEDUCTIONS: EMPLOYEE AND SELF-EMPLOYED EXPENSES
In this module, we discuss several unique situations where the same expense may or may not be deductible, dependent on the facts and circumstances surrounding the situation. To finish off this module, we’ll switch back to discussing income and situations where taxpayers can elect to delay recognition of income, such as saving for retirement, as well as situations where taxation of the annual earnings of those retirement savings are either deferred or permanently excluded from income.
7 vidéos, 2 lectures, 7 quiz pour s'exercer
- Reading: Module 7 Overview and Resources
- Practice Quiz: Lesson 7.1 Knowledge Check
- Vidéo: Travel Expenses
- Practice Quiz: Lesson 7.2 Knowledge Check
- Vidéo: Education Expenses as Business Expenses
- Reading: Education Expenses as Business Expenses
- Practice Quiz: Lesson 7.3 Knowledge Check
- Vidéo: Meals, Entertainment, and Home Office Expenses
- Practice Quiz: Lesson 7.4 Knowledge Check
- Vidéo: Retirement Plans and Traditional IRAs
- Practice Quiz: Lesson 7.5 Knowledge Check
- Vidéo: Non-Deductible and Roth IRAs
- Practice Quiz: Lesson 7.6 Knowledge Check
- Vidéo: IRA Basis and Rollovers
- Practice Quiz: Lesson 7.7 Knowledge Check
Noté: Module 7 Quiz
SEMAINE 8
MODULE 8: COMPREHENSIVE EXAMPLE
In this module, you will review the Comprehensive Example video and then learn to apply the concepts to a tax return problem.
1 vidéo, 4 lectures, 1 quiz pour s'exercer
- Reading: Module 8 Overview and Resources
- Practice Quiz: Unlock Comprehensive Example Solution
- Reading: Comprehensive Example Solution
- Reading: Module 8 Graded Tax Return Problem Instructions
- Reading: Course Wrap-Up
- Discussion Prompt: Final Reflection: I used to think ... Now I think
Noté: Graded Tax Return - Section 1 Gross Income & Deductions for AGI
Noté: Graded Tax Return - Section 2 Deductions from AGI
Noté: Graded Tax Return - Section 3 Dependents, Taxes, and Credits
Noté: Graded Tax Return - Section 4 Payments and Refund
FAQ
Comment cela fonctionne
Coursework
Each course is like an interactive textbook, featuring pre-recorded videos, quizzes and projects.
Help from Your Peers
Connect with thousands of other learners and debate ideas, discuss course material, and get help mastering concepts.
Certificates
Earn official recognition for your work, and share your success with friends, colleagues, and employers.
Créateurs
University of Illinois at 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.
Tarification
| Acheter le cours | |
|---|---|
| Accéder au contenu du cours | Disponible |
| Accéder au contenu noté | Disponible |
| Recevoir une Note Finale | Disponible |
| Obtenir un Certificat de Cours partageable | Disponible |
Notation et examens
Excelent Course, congratulations
federal taxation
Thanks a lot. It was one of the the best courses I have done to date, and I have completed quite a few. The crisp lectures were very informative and have really contributed enormously to my understanding of the subject. An excellent and "must experience" course.
Perfect! I learned a lot of new things.
Coursera propose un accès universel à la meilleure formation au monde,
en partenariat avec des universités et des organisations du plus haut niveau, pour proposer des cours en ligne.
© 2018 Coursera Inc. Tous droits réservés.
BM
EXCELLENT VIDEOS, GREAT QUIZ, PRACTICAL APPLICATION AND SOLVING OF PROBLEM GREATLY HELPS IN UNDERSTANDING THE CONCEPT, AT THE SAME TIME TEACHES TO APPLY THE CONCEPT!!