About Course

Day 1: Introduction to Taxation and Basic Concepts

• Session 1: Overview of Taxation
  • Types of taxes (income tax, sales tax, property tax, etc.)
  • Role of taxation in the economy
• Session 2: Taxable Income
  • Understanding taxable income
  • Exclusions and deductions
• Session 3: Filing Status and Tax Credits
  • Different filing statuses (single, married filing jointly, etc.)
  • Introduction to tax credits

Day 2: Individual Income Tax

• Session 1: Individual Tax Returns
  • Introduction to Form 1040
  • Filling out basic tax forms
• Session 2: Taxable Income (Continued)
  • In-depth analysis of income sources and deductions
• Session 3: Tax Planning for Individuals
  • Strategies to minimize tax liability
  • Tax-efficient investments

Day 3: Business Taxation

• Session 1: Business Structures and Taxation
  • Sole proprietorships, partnerships, corporations
  • Tax implications of each structure
• Session 2: Small Business Deductions
  • Qualified business income deduction (QBID)
  • Deductible business expenses
• Session 3: Business Tax Returns
  • Overview of business tax forms (e.g., Form 1120, Form 1065)
  • Filling out basic business tax forms

Day 4: Tax Planning and Strategies

• Session 1: Tax Planning for Businesses
  • Strategies for reducing corporate tax liability
  • Timing income and expenses
• Session 2: Tax Planning for Individuals (Advanced)
  • Advanced individual tax planning strategies
  • Estate and gift tax planning
• Session 3: Tax Compliance and Ethics
  • Importance of ethical tax practices
  • Penalties for tax evasion and fraud

Day 5: Taxation of Investments and International Tax

• Session 1: Taxation of Investment Income
  • Capital gains and losses
  • Taxation of dividends and interest income
• Session 2: International Taxation
  • Basics of international tax law
  • Double taxation and tax treaties
• Session 3: Recent Tax Changes and Updates
  • Overview of recent tax law changes
  • Future trends in tax accounting