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Chartered Tax Professional

The Chartered Tax Professional Online Certificate Program will teach you to prepare tax returns for individuals, small business corporations, partnerships, and sole proprietorships.
Temecula, CA P.O. Box 760,, Temecula, CA 92593
(951) 9723600

Course at a Glance

Mode of learning : Online - Instructor Lead(LVC)

Domain / Subject : Business & Management

Function : General

Duration : 180 Hours

Difficulty : Medium

Chartered Tax Professional

The Chartered Tax Professional Online Certificate Program will teach you to prepare tax returns for individuals, small business corporations, partnerships, and sole proprietorships. In fact, you can start working and earning money while completing the program. After successfully finishing just the first two modules in the Chartered Tax Professional Certificate Program, you'll be qualified to prepare individual tax returns for almost all U.S. taxpayers. This online certificate program is offered in partnership with major colleges, universities, and other accredited education providers.

The Chartered Tax Professional Certificate Program offers a unique opportunity for students to participate in an internship program. Through this program, selected students may work on a trial basis for tax preparation firms or for CPA and law firms that provide tax services.

Note:  At this time, there are no internship opportunities available in the state of Arizona.

Objectives

  • Practice as a qualified tax professional
  • Prepare tax returns for all individual U.S. taxpayers
  • Prepare small businesses corporate, partnership, and sole-proprietor tax returns
  • Conduct a professional tax preparation client interview
  • Provide tax planning for individuals and small business owners
  • Meet the IRS e-File and due diligence requirements for tax practitioners
  • Understand the ethical responsibilities of tax professionals
  • Prepare for the IRS Enrolled Agent (EA) examination

Requirements

This program is compatible with the Windows XP and later operating systems and IE 7 and later browsers.

Each of the five modules is accompanied by a student text. The entire text is provided online; however, hard copies of student texts are also provided at the start of each program for your convenience and future reference. You will receive a CD with the student text that includes the following materials:

  • Federal Forms
  • Federal Worksheets
  • Instructions
  • Publication
  • Tax Preparer Resources

Prerequisites

A high school diploma or equivalent is a prerequisite for this program. Accounting and specific math skills aren't required, just the aptitude to work with numbers and people and to read and interpret the tax laws.

This program is suitable for all adults who seek a fast track to a professional white-collar career. Tax preparation is especially appealing to those who would enjoy helping other people by making the intimidating task of tax preparation a pleasant experience, while saving their clients money by minimizing their tax liabilities. 

Tax preparation is also an ideal career choice for those looking for part-time income. Homemakers with young children find tax preparation a convenient profession, as they're able to be off when their children are out of school for the summer, yet maintain their professional skills. College students prepare taxes as an opportunity to gain professional work experience and credentials to strengthen their resumes. Moonlighting professionals use tax preparation a source of extra income during winter months.

Many employed and self-employed individuals such as financial services and real-estate professionals find tax preparation a complementary profession to earn extra money and generate leads for their other professional activities, while also enabling them to better serve their clients through knowledge of the tax consequences of their clients' decisions.

If you are taking this course to begin a career in taxation you will need to meet the following requirements:

  • Complete Comprehensive Tax Course (located within program)
  • Register with the IRS and get a PTIN
  • Begin preparing tax returns as a tax preparer

Please note that your continuing education requirements will begin once your PTIN has been issued.

Course Syllabus

Individual Income Tax Preparation

  • Comprehensive Income Tax Course
  • Electronic Filing
  • W-2 and 1099 Forms
  • Form 1040 (1040 EZ/A)
  • Interview Techniques
  • Filing Requirements
  • Filing Status
  • Exemptions and Dependents
  • Earned Income Tax Credit
  • Due Diligence
  • Child Care and Tax Credit
  • Interest and Dividends
  • Other Income
  • Adjustments to Income
  • Moving Expenses
  • Itemized Deductions
  • Employee Business Expenses
  • Sale of Real Estate
  • Depreciation: MACRS and ACRS
  • Self-employment
  • Filing Requirements
  • Rental Property
  • Capital Gains and Losses
  • Education Expenses and Plans
  • Education Tax Benefits
  • IRAs and Retirements Plans
  • Ethics
  • Kiddie Tax
  • Taxpayer Relief Act of 1977
  • Tax Saving Ideas
  • Alternative Minimum Tax
  • Office-in-Home
  • Injured and Innocent Spouse
  • Penalties
  • Extension
  • Amended Returns

Advanced Income Tax Course: Level I

  • Earned Income Credit
  • Clergy
  • Investments
  • At-risk Rules
  • Passive Activities
  • Injured and Innocent Spouse
  • Tax Credits, Special Credits
  • COGS, Business Start-up
  • Depreciation
  • Amortization
  • Section 179
  • Employee Business Expense
  • Office in Home
  • Auto Expenses
  • Self-employment Tax
  • Statutory Employees
  • Capital Gains and Losses
  • Basis of Property
  • Sale of Stock
  • Installment Sales
  • Rental Properties
  • K-1s and 1099s
  • Sale of Business Property
  • Estimated Taxes
  • Extensions

Advanced Income Tax Course: Level II

  • Amended Tax Returns for Individuals
  • Special Needs and Concerns of Seniors
  • Tax Issues for High-income Taxpayers
  • Net Operating Losses
  • Schedule D: Special Issues
  • Tax Issues for Divorced Taxpayers
  • Tax Planning Tips and Strategies
  • Responding to the IRS
  • Part-year Resident State Tax Preparation Principles
  • Nonresident Alien Returns: Form 1040NR

Small Business Income Tax Preparation

Small Business Income Tax Course: Level I

  • Introduction to Small Business Tax Preparation
  • Business Types
  • Accounting Methods
  • Financial Statements
  • Business Income
  • Schedule C
  • COGSand Inventory
  • Depreciation
  • Section 179 Deduction
  • Contractor vs. Employee
  • Sale of Business Property
  • Partnerships
  • Corporations: C, S, LLC
  • Employee Taxes
  • Excise Taxes
  • Estate Taxes
  • Extensions
  • Estimates
  • Employee Benefits
  • Retirement Plans

Small Business Income Tax Course: Level II 

  • Understanding the Balance Sheet
  • Partnership Issues
  • Corporation Issues
  • General Business Credits
  • Tax Issues Related to Buying a Business
  • Sale or Liquidation of Business
  • Profit or Loss From Farming: Schedule F
  • Amended or Corrected Business Returns
  • What to Do When You Owe the IRS?
  • Tax Preparation for Non-profits: 501(c)(3), 501(c)(4), 501(c)(6), etc.

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