Tax Courses

A tax is a mandatory financial charge imposed on a person or an organization for the purpose of funding government expenditures and projects. Taxation can be levied on personal income, corporate profits, and sales of goods, and is regulated by tax laws set by governments for calculating how much is owed.

An understanding of taxation is important for any individual or organization looking to build wealth as taxes are collected on income, assets, and profits. Understanding tax law is especially important for businesses, which often use savvy accounting practices like depreciation strategies and transfer pricing between business units to reduce liabilities.

Multinational corporations also must be able to navigate the complex and ever-changing regulations of international taxation. Although companies have frequently used tax evasion strategies that left host countries without revenue, recent global initiatives like the OECD/ G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) project have been working to improve the transparency and fairness of the international tax environment.‎

Whether on a local, federal, or international level, taxes can have a major impact on the profits of an organization. Thus, financial decision-makers in a company such as chief financial officers (CFOs) need this background to make smart, strategic decisions about tax planning.

Accountants are also responsible for helping both individuals and companies evaluate different tax planning strategies that can benefit them. With individuals, they may be managing allowances, deductions, and rebates as they prepare their federal tax returns at the end of the year. Similarly, organizations can utilize various exemptions and exclusions to reduce their tax burden, and even transfer pricing strategies if the company has affiliated holdings.

According to the Bureau of Labor Statistics, accountants make a median salary of $71,550 per year, and their job growth is expected to be faster than average as they will be needed by new and expanding companies alike.‎

Yes. Coursera offers a wide range of online courses and Specializations on tax, including business and federal taxation, as well as international tax law. These courses are presented by top-ranked institutions from around the world like the University of Illinois at Urbana-Champaign and Universiteit Leiden, so you don’t have to sacrifice the quality of your education to learn online.

And, if you would like to pursue advanced accounting skills, the prestigious Gies College of Business at the University of Illinois offers an online Master of Science in Accountancy (iMSA) through Coursera that can help you take your career to new heights.‎

You can learn about taxes without any skills or previous experience, but some knowledge about taxes in general can be helpful, even if you've just paid or filed your own taxes in the past. A background in accounting can also be beneficial, as can work in the fields of tax analysis or the insurance industry. Internships at accounting firms or tax preparation sites are a great way to earn some experience in this area. Any high school or courses you've taken in finance, accounting, advanced math, auditing, or data analysis could also help prepare you for learning about taxes. Knowledge of federal, state, and local tax codes can help prepare you too.‎

A person with strong basic math skills is best suited to work in a role that involves preparing or analyzing taxes. But math alone is not all it takes. You'll need to have a good eye for detail as one mistake when preparing taxes can be costly. You'll also need to be a good multitasker. You may find yourself preparing taxes for multiple clients at once, which means you'll need to be able to keep up with each project and practice good time management skills to ensure each one is finished by the appropriate deadline. Communication skills are also important, as you'll find yourself interacting with clients on a regular basis, whether you work with individuals or businesses.‎

Any working adult can benefit from learning about taxes for personal or professional reasons. Understanding tax codes and how they work can help ensure you pay your share without making mistakes or paying too little or too much. If you own or manage a business, learning about taxes can also help ensure you meet all necessary requirements for your company. This field of study can also help prepare you for careers in fields like tax preparation, accounting, finance, and tax and business law.‎