DESCRIPTION

This course covers essential tax forms such as W-2, 1099, 1098, and combined investment statements, highlighting common mistakes and key details. Students will learn to calculate Schedule C (business income) and Schedule E (rental income), while also exploring common itemized deductions and tax credits to reduce tax liabilities. Ideal for those that are new to the profession.

LEARNING OBJECTIVES

  • Discuss the important items and common mistakes related to Forms W-2, 1099s, 1098s, and combined investment statements.
  • Calculate Schedule C – Profit or Loss From Business and Schedule E Residential Rental Income
  • Identify Common itemized deductions and tax credits

Prerequisites

None

Advanced Preparation

None

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