By Robert Steele | in Online Courses
Money in Excel is an Excel template provided by Microsoft that has bank connectivity similar to many accounting software applications such a QuickBooks, bank connectivity allowing for the download of financial data directly from the financial institutions. This course will cover how to access the Money in Excel template and connect it to financial institutions, downloading financial data. The course will also cover other functions provided by Money in Excel including budgeting options and recurring transactions.
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By Robert Steele | in Online Courses
This course currently consists of a comprehensive problem showing the data input process of an S Corporation tax return into Form 1120S. With 21 lectures, this class covers Form 1120S format, M-1 adjustments, and reducing potential mistakes. The course will demonstrate how to enter the data into the tax forms in stages using an Excel worksheet and Lacerte Tax software. The tax forms can also be found on the IRS website.
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By Robert Steele | in Online Courses
With 26 lectures, this course will demonstrate how to enter the data into the tax 1120 forms in stages to reduce potential mistakes and to identify errors as they happen so they can be fixed as quickly as possible. It will cover doing data input and entering M-1 adjustments using Excel worksheets and Lacerte tax software. PDF files of tax forms are also provided so you can enter data directly into the tax forms as the lectures go.
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By Robert Steele | in Online Courses
The Income Tax: Business Use of Home Deduction course will discuss how you can qualify to take deductions for the business use of your home. With 4 hours of instruction, it will show how to calculate the business use of home deduction using actual expenses. It will explain rules specific to a daycare facility and run scenarios related to a daycare facility. You'll learn how to use the simplified method to calculate the business use of your home deduction and compare and contrast the simplified method to the actual expenses method. The course will also discuss how the business use of your home deduction could affect the sale or exchange of your home and deductions for business furniture and equipment.
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By Robert Steele | in Online Courses
This 3-hour course will discuss how you can calculate the gain or loss on a home sale. With an example of a closing statement, you'll learn to pull information from it to calculate the profit or loss while using accompanying Excel worksheets and example calculations. The course material will also use an example problem as a reference point while moving forward, zooming into specific parts of the total when applicable. You'll also delve into different scenarios that can complicate calculating home sale gain or loss, such as the home being destroyed, condemned, received in a divorce, received as a gift, or inherited.
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By Robert Steele | in Online Courses
This 9-hour course will discuss who is required to file a Schedule C for small business income and who is self-employed. Understand what self-employment tax is, how to calculate it, and how to report it. The course will cover which tax forms a self-employed business will generally need to file and how the forms are related to each other, using actual tax forms as an example. Understand the different accounting methods and periods, business income, and components of the cost of goods sold. The course will also discuss common business expenses, including car, depreciation, employees' pay, insurance, and rent deductions.
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By Robert Steele | in Online Courses
This 6-hour course will discuss the tax benefits of traditional individual retirement accounts (IRAs), including how to record deductions related to traditional IRAs on tax forms, using actual tax forms as examples to demonstrate scenarios. Understand contribution limits to both traditional and Roth IRAs and how that contribution limits interplay with other types of retirement accounts. This course will also cover retirement savings contributions credits, including qualification credits and examples of reporting the credit using actual tax forms.
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By Robert Steele | in Online Courses
This four-hour course will teach you how to use QuickBooks to track personal tax items as well as business expenses easily so that you have year-end tax preparation materials in one well-organized place. With 36 lectures, you'll learn two methods for tracking personal tax items in your business QuickBooks file—one method working with equity draw accounts and the other utilizing QuickBooks classes. By the end of this course, you will also learn to use QuickBooks to track personal payments and business payments.
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By Robert Steele | in Online Courses
This course will provide a detailed look at some important tax credits, including a discussion of the amount of each tax credit and the qualifications to take it. In this course, you will be able to use tax software and forms to show how the tax credits are input into the tax forms and to test variations in qualifications for the tax credits including income limitations. Using tax software to experiment with different scenarios is a very effective way to learn about how tax credits actually operate.
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By Robert Steele | in Online Courses
The course will discuss options for getting access to QuickBooks desktop software including a free 30-day test period offered by Intuit, the owners of QuickBooks Desktop. Learners will know how to set up tax line mapping for a sole proprietorship and S Corporation, tax line mapping allowing users to export financial data from QuickBooks directly into the tax software. You will be using Lacerte tax software for our examples. Lacerte tax software is owned by Intuit and a 30-day free trial may be available to test out Lacerte tax software as well.
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By Robert Steele | in Online Courses
Form 1065 is a vital tax document for business partnerships stating its profits, losses, deductions, and credits. This course will put together a systematic format of entering data into a Form 1065 that will minimize errors, isolate problems as they happen, and remove the possibility of having to start the process all over again. Using a comprehensive problem will show the data input process, M-1 adjustment, data review, and more using Excel worksheets and Lacerte Tax software.
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