Preparing U.S. Personal Tax Returns - Introductory Course
Comprehensive online U.S. personal tax course - Fundamentals of U.S. Tax and Preparing 1040 Returns
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USE IT AS A VALUABLE TAX RESOURCE ALL YEAR ROUND - THE INSTRUCTIONAL APPROACH USED IN THIS COURSE IS EVERGREEN.
WE TEACH YOU ABOUT US PERSONAL TAX & PREPARING 1040 RETURNS, REGARDLESS OF THE YEAR YOU ARE PREPARING.
CPD HOURS FOR THIS COURSE - 11 VERIFIABLE HOURS FOR CPA CPD PURPOSES
SCROLL DOWN THIS PAGE TO SEE THE FULL CURRICULUM (CLICK THE DOWN ARROW TO EXPAND THE BOX) & TO WATCH PREVIEWS OF VARIOUS TUTORIALS IN THE COURSE
Are you a Canadian accountant with some Canadian tax experience looking to obtain some knowledge on preparing US tax returns? Or maybe just someone who is interested in US taxes and how they do things south of the border? Are you someone who is curious about the differences between US and Canadian tax laws?
If so, then this introductory course is a great starting point for your journey into understanding US tax returns and rules for our good friends just south of the border.
Having a solid understanding of Canadian tax rules and laws can seem pretty daunting and is difficult on its own. Preparing personal US tax returns can seem even more intimidating. However, as is the case with Canadian T1 returns, if you study & learn about 20% of US tax law, you will be able to prepare about 80% of personal tax returns.
Most Americans have relatively simple tax matters. With the help of this course you will be able to complete your own US tax returns, or the tax returns for your family or tax clients, with ease.
You will learn everything you need to know on how to prepare the majority of tax returns you will encounter in a small US or Canadian tax practice.
In this course, you will be able to look over the shoulder of a professional CPA with thousands of US tax returns under his belt. The course is built on practical experience combined with recent academic studies and up to date knowledge from challenging exams for multiple designations. The goal is to provide you with the practical, real-world examples and issues that you will encounter in your everyday life and practice.
The course is presented in bite sized tutorials. Watch the course in its entirety or only those tutorials that apply to your situation or your client. If things change in the future, just come back, log in and study the content that you need to know for your new situation. It’s dead easy to find the tutorials that relate to what you’re looking for.
So whether you want to learn about tax to minimize your tax liabilities and save a few dollars for your family, or if you want to begin your journey in the rewarding field of personal income tax preparation, then you have come to the right place.
This course would be a great asset and resource for any of the following people:
1. The CPA Student – If you are a student in tax and accounting working towards your Canadian CPA designation, then this would be a great add-on course to enhance your skill-set and impress potential employers. This will give you a major advantage over your competition and give you the inside track on getting that lucrative job at your preferred firm.
2. The Professional Looking To Get Into Public Practice or Tax Preparation – If you are already a Canadian tax professional and perhaps looking to change or enhance your career and revenue by preparing US tax returns, then this course will serve as a good starting point and provide necessary guidance and skill to make the jump.
3. The Bookkeeper Looking To Build Their Business – If you are a bookkeeper, you already have your hand on the pulse of your clients. You probably deal with a number of accountants on year-end personal tax planning and work. Why not build your own “1040 Chops” and either do the US returns yourself, or at the very least be able to keep up with those US accountants and know what’s going on?
4. Accounting Firms Looking For U.S. Tax Training Options – Do you run or manage an accounting firm and find it hard to find time to train that new and fresh 1040 staff? Well, look no further as this course can take care of that for you. 24/7 access to all the course tutorials so your staff can find answers to questions easily without having to eat up senior staff time.
5. Professionals looking for verifiable CPD hours - The courses at Canadian Tax Academy are verifiable hours for CPD reporting purposes. Upon completion of a course, you will receive a certificate.
For a detailed listing of the course content, just scroll down and look through the curriculum. Remember to click the little arrow below the listing to see the entire course tutorial listing.
Your Instructor
Mark Fehrman is a professional accountant and owner of KIS Tax Services Professional Corporation located in Fort Erie, Ontario.
Mark’s passion for the industry came from helping on his parent’s farm and learning the importance of numbers when making sound financial decisions.
After graduating from The University of Waterloo, Mark’s career led him to focus on Cross Border Taxation. Since Mark is a citizen of the United States, this area of tax is personal to him. It is his mission to inform the public on how to navigate the complexities of Cross Border Taxation.
Course Curriculum
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StartCanadian Tax Academy - Introduction to US Tax Knowledge and introducing Mark Fehrman (1:59)
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StartCOURSE NOTES - Certificates - Refunds - Questions - Administration (6:25)
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StartStudying US tax with Canadian Tax Academy - Course Pipeline (5:50)
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StartAdvice and guidance on studying US personal tax and how this course fits in (5:24)
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PreviewWelcome to Preparing U.S. Tax Returns - Introductory course - Mark Fehrman, CPA (4:20)
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StartA tour of my office and to my office is set up for efficiency - How I work and tools I use (3:55)
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PreviewLearning Plan & Methodology for Teaching US Tax - Canadian Tax Academy learning plan (2:21)
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PreviewMy approach in this course and the best way to learn US personal ax (5:32)
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StartHow to contact me and ask questions - Asking the right questions and what I cannot answer (2:56)
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StartCommon questions on tax software and what you need (5:09)
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StartA note on State taxes, local taxes and other tax forms (5:34)
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StartDesignations you can get, PTINS and EINS, Acceptance Agent (8:10)
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StartIntroduction to the module and critical concepts (1:26)
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PreviewBest practice - Qualify before you quantify (2:25)
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StartOverview and brief history of US taxation (7:01)
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StartWalk through a 1040 and the outline of the tax return (8:43)
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StartWho must file a tax return? (12:09)
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StartWho should file a tax return - Reasons to file a US tax return (4:11)
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StartFiling Status - Understanding Single, Joint and other filing status (7:44)
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StartDeadlines for filing personal tax returns (3:38)
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StartFiling penalties and interest for late filed returns (5:26)
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StartInstalment payments and when they should be made (3:34)
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StartE-filing of personal tax returns and the e-file system (4:21)
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PreviewThe marginal tax rate system in personal tax (5:23)
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StartTax deductions vs. tax credits (2:47)
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StartInternal Revenue Service - IRS Online Services (4:10)
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StartIn-depth overview of an example tax return (16:40)