The Tax Essentials Learning Program (T.E.L.P) was created by Experienced Tax Professionals and Certified Public Accountants (CPAs) to provide high quality and effective tax training to those who are interested in learning about how to apply the tax law in practice.
What’s included in the course:
Basics of Taxation
Before attempting to prepare a tax return, understanding the tax codes that affect individual taxation is a must.
In this course, you'll learn the fundamentals of understanding tax returns. We'll discuss...
- The history of the income taxes
- The types of income (unearned vs earned, non-taxable vs taxable)
- Understanding gross income and adjustments to gross income
- The types of tax credits available to individuals (EIC, CTC, Education Credits, etc.)
- Understanding tax deductions and how to reduce taxable income
Understanding the fundamentals of business taxation is a must for individual tax preparers.
In this course, you'll become comfortable with...
- Discussing the different types of business entities and how they are taxed
- Understanding the filing requirements and deadlines for business returns
- Understanding income and deductions
- Tax strategies and other taxes for small businesses
Annual Federal Tax Refresher
The Annual Filing Season Program aims to recognize the efforts of non-credentialed return preparers who aspire to a higher level of professionalism. The Tax Essentials Learning Program provides the 18 credit hours of continuing education required to receive the IRS Annual Filing Season Program Record of Completion.
- Understand annual inflation adjustments
- Deduction limitation updates
- Kiddie Taxation
- Reporting and Taxability of retirement income
- & MORE
Audits & Ethics
Audits can happen at random, and as a tax preparer, you are expected to conduct business in an ethical manner.
In this course, you will gain familiarity with...
- The definition of tax audits and the types of tax audits that can happen
- What documentation is commonly requested by tax officials
- How to mentally prepare a client to deal with a tax audit
- How you can request permission to speak to tax representatives on behalf of your tax client