Tax Preparation Training

Free Training (just pay for Online material and videos) and Tax season job opportunities for selected trainees.

Every session is an online/ in person (wherever applicable) training on below topics with on hand practice sessions.

Introduction of Tax Filing

1040 Income tax preparation with all schedules, E-filing for individual clients, Deceased taxpayer returns, Small business (DBA, Sole Proprietorship) schedule C preparation, State returns for all 50 States, Foreign Income Exclusions (Form 2555), Amended Individual Tax Return Preparation, Tax, Financial and Investment Planning, Foreign Bank and Financial Accounts Reporting (FBAR),ITIN, FATCA Affects Individuals, and Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund (Form 8621)

Form 1040 Information

Personal Information, Filing Status like Single, Married, Head of Household etc., and Exemptions (Including Dependents)

Gross Income

Compensation for services, including fees, commissions, fringe benefits, and other similar items, Gross income derived from business, Gains derived from dealings in property, Interest; Rents, Royalties, dividends, alimony and separate maintenance payments, Annuities, Income from life insurance and endowment contracts, Pensions, Income from discharge of indebtedness, Distributive share of partnership gross income, Income in respect of a decedent, Income from an interest in an estate or trust

Adjustments to Gross income

Educator Expenses, Health Saving account deductions, Moving Expenses, Self-Employment tax deductions, Self-Employee Qualified Plans, Self-Employee Health Insurance Deductions, Alumni Paid, IRA Deductions, Student Loan Interest, Deductions, Tuition, and Fees

Taxes and Credits

Itemized Deductions or Standard Deduction, Alternative Minimum Tax, Foreign Tax Credit, Credit for child and dependent care Expenses, Education Credits, Retirement saving contributions, Child Tax Credit, Residential Energy credit, Earned Income Credit, Other Credits

Other Taxes and Payments

Self-Employment tax, Additional tax on IRA’s other Qualified retirements plans, House Hold Employment tax, Healthcare induvial responsibility payments, Additional Medicare tax, Net Investment income tax, Federal Income tax withheld, Estimated tax payments, Excess Social Security tax withheld, Amount paid for Extension to file

International Taxes

1040 NR tax return preparation, Information Return of U.S. Persons With Respect to Certain Foreign Corporations (Form 5471), Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business (Form 5472) , Information Return of U.S. Persons With Respect to Certain Foreign Partnerships (Form8865)