This course will cover income from wages, interest, dividends, stock transactions, self employment, and credit card transactions. We will discuss the forms that these various forms of income are reported on, how they transfer to the 1040, and how they are taxed.
This course will cover in detail the filing procedures for completing US tax returns for undocumented aliens. We will go through, step-by-step, the process for applying for ITINs for individuals who have never filed a US tax return as both a Certifying Acceptance Agent, and also as a regular non-certified tax preparer.
Itemized Deductions vs. Standard Deductions - What is the difference? When to itemize? What is deductible? What records are needed when filed? Specifics to Schedule A's.