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Tax Preparation 2021-2022 Part 5: Credits And Payments
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2 STUDENTS
9h 56m

Learn tax preparation related to credits – child, other dependents, earned income tax, child and dependent care expenses, and education credits.

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Course Skill Level
Beginner
Time Estimate
9h 56m

Instructor

Robert (Bob) Steele CPA, CGMA, M.S. Tax, CPI


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About This Course

Who this course is for:

  • Tax payers
  • Accountants

What you’ll learn:

  • Tax credits
  • The difference between tax credits and deductions
  • Types of expenses that may qualify for the child and dependent care expenses credit

Requirements:

  • No prior knowledge is required to take this course

This course will focus on tax preparation related to credits, including the child tax credit, the credit for other dependents, the earned income tax credit, child and dependent care expenses credit, and education credits.

We will look at each new concept from multiple angles, starting with a presentation discussing the topic and then looking at examples to better understand the concepts in action.

The example section will use tax forms to work problems and an accounting equation method using Excel so learners will understand the impact on the actual tax return and visualize the concepts using a tax formula.

Tax credits can have a significant impact on the amount a taxpayer pays. We will discuss the differences between a tax credit and a deduction.

Learners will understand how the child tax credit works, including the idea of an advanced child tax credit and what nonrefundable and refundable credits are.

The course will cover and show examples of the earned income tax credit, one of the most complicated tax credits to understand.

We will look at what types of expenses may qualify for the child and dependent care expenses credit.

Learners will understand education credits and how to calculate them.

Our Promise to You
By the end of this course, you will have learned tax credits and its difference from deductions.

10 Day Money Back Guarantee. If you are unsatisfied for any reason, simply contact us and we’ll give you a full refund. No questions asked.

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Course Curriculum

Section 1 - Tax And Payments Lines On Form 1040
Tax Line 16 Part 1 00:00:00
Tax Line 16 Part 2 00:00:00
Tax Line 16 Software Example 00:00:00
Payments 00:00:00
Payments Software Example 00:00:00
Section 2 - Child Tax Credit And Credit For Other Dependents
Credits For Qualifying Children And Other Dependents Overview Part 1 00:00:00
Credits for Qualifying Children and Other Dependents Overview Part 2 00:00:00
Credits for Qualifying Children and Other Dependents Overview Part 3 00:00:00
Child Tax Credit Dependent Qualifications 00:00:00
Part I-A – Child Tax Credit And Credit For Other Dependents 00:00:00
Part I-B Filers Who Check A Box on Line 13 00:00:00
Part I-C – Filers Who Do Not Check A Box On Line 13 00:00:00
Parts II-A, II-B, And II-C – Filers Who Do Not Check A Box On Line 13 00:00:00
Child Tax Credit And Other Depended Credit Excel Worksheet 00:00:00
Child Tax Credit And Other Dependent Credit Software 00:00:00
Section 3 - Earned Income Credit - EIC
EIC Overview 00:00:00
EIC No Children 00:00:00
EIC One Child 00:00:00
EIC Two Children 00:00:00
EIC Three Children 00:00:00
Section 4 - Child And Dependent Care Expenses Credit
Child And Dependent Care Expenses Credit Overview 00:00:00
Child And Dependent Care Expenses Credit Definitions 00:00:00
Child And Dependent Care Expenses Credit Who Can Take The Credit Or Exclude D 00:00:00
Child And Dependent Care Expenses Credit Line Instructions Part 1 00:00:00
Child And Dependent Care Expenses Credit Line Instructions Part 2 00:00:00
Child And Dependent Care Expenses Credit Line Instructions Part 3 00:00:00
Child And Dependent Care Expenses Credit Line Instructions Part 4 00:00:00
Child and Dependent Care Expenses Not Married 00:00:00
Child And Dependent Care Expenses 00:00:00
Section 5 - Education Credits
Education Credits Overview 00:00:00
American Opportunity Credit 00:00:00
Lifetime Learning Credit 00:00:00
Education Credits Adjusted Qualified Education Expenses 00:00:00
Specific Instructions Part 1 00:00:00
Specific Instructions Part 2 00:00:00
Specific Instructions Part 3 00:00:00
American Opportunity Credit Software Example 00:00:00
Lifetime Learning Credit Software Example 00:00:00
Recovery Rebate Credit Overview 00:00:00
Recovery Rebate Credit Software Example 00:00:00