Lambers Tax Preparation Basics

Lambers Tax Preparation Basics


Looking to become a full or part time tax preparer?  Are you a newer tax preparer looking to increase your…

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Looking to become a full or part time tax preparer?  Are you a newer tax preparer looking to increase your knowledge?  The Lambers Tax Preparation Basics course is the perfect place to start.  This online video course consists of over 7 hours of instruction, a tax guide with easy-to-read chapters, many of the forms and publications you need to be familiar with and even some fun learning games!  Your instructor for this course is Professor Arthur Reed, MBA, CPA, MST.  Professor Reed will even show you how to fill out some of the tax forms needed in everyday tax preparation.

Video Courseware Sample Clip

This course covers the following topics for preparing Individual Returns:

Filing Status and Exemptions, Filing Requirements and Penalties

Filing Status, Standard Deductions, Additional Standard Deductions, Exemptions, Filing Requirements and Statute of Limitations.

Income Inclusions and Exclusions

Gross Income, Employee Compensation, Interest Income, Dividends, Rents and Royalties, Self-Employed Business Income, Alimony and Separate Maintenance Agreements, Full Inclusion – Other Topics, Partial Exclusion or Limitations, Full Exclusion

Deductions For Adjusted Gross Income

Classification of Deductions, General Deductions, Self-Employed Taxpayers, Cost Recovery and Depreciation Expense, Passive Activity and Rental Losses

Deductions From Adjusted Gross Income

Standard vs Itemized Deductions, Medical Expenses, Taxes, Interest Deduction, Charitable Contributions, Casualty Losses, Miscellaneous 2% Deductions, Other Miscellaneous Deductions, Limitation On Itemized Deductions and Exemptions, Schedule A (Form 1040) – Itemized Deductions

Accounting Methods and Periods, and Computation of Tax Liability and Tax Credits

Accounting Methods, Accounting Periods, Computation of an Individual’s Tax Liability and Credits, Alternative Minimum Tax, Self-Employment Tax, Computation of Tax Credits, Estimated Income Tax Payments, Tax Rate Schedule

Professional Responsibilities from a Tax Perspective

Overview, Ethical Standards, Tax Research, Penalties On Preparers, Hot Ethics Topics