This course is the first course in a five-course US Federal Tax Specialization. It covers and focuses on the U.S. federal tax system as it relates to individuals, employees, and sole proprietors. Key concepts covered include gross income and items that are statutorily included or excluded in it, personal and business expenses that qualify as tax deductions, and the differing tax treatments for employees versus self-employed taxpayers. Unlike many other introductory courses in tax and as part of this course’s comprehensive wrap-up, learners will be provided with practical and tangible experience reporting both income and expenses on the main individual tax return used in the US, Form 1040.
About this Course
University of Illinois at Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
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TOP REVIEWS FROM FEDERAL TAXATION I: INDIVIDUALS, EMPLOYEES, AND SOLE PROPRIETORS
This was a great introduction into Federal Taxation. It gave excellent examples of all of the components that go into a 1040 tax prep. I loved the course and I feel the professors did an amazing job.
I thoroughly enjoyed the course. The presenters were very thorough and detailed. the examples given were very simple and understandable. i look forward to continuing on this Taxation journey
Completed on September 5, 2018 - excellent introduction course that can lead to a Coursera Certificate titled "U.S. Federal Taxation Specialization" sponsored by the University of Illinois.
Great content and really learned a lot. Would have liked some more examples or formulas to use and print out to keep handy, especially in doing some of the AGI floors. but otherwise, great!
About the U.S. Federal Taxation Specialization
This Specialization introduces the U.S. federal tax system via conceptual and applied material. Learners will be able to apply basic principles to settings involving individuals, corporations, and other business entities, complete key components of major, individual U.S. federal tax returns, and identify tax-related strategies and implications of structuring transactions and organizations.
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