Due to Germanna’s COVID-19 contingencies, THIS COURSE WILL BE TAUGHT ONLINE. The instructor will send a link to access the course two days before start date. Please provide your email address when you register.
This class is designed to remove the fear of the tax code for non-accountants. Students will become familiar with the most common tax forms as well as rules of use for each. Course will include relevant updates for businesses and individuals from the recently passed Tax Cuts and Jobs Act of 2017. Also, important new updates/changes to the tax code have been made that affect small businesses: From 1099 filing deadlines and new (massive!) fines for late filing, partnership and c-corp filing deadline changes and major potential shake-ups to the itemized and standardized deductions for sole proprietorships using the 1040 to report income. Our course will include all pertinent small business changes to the tax code that will affect you and your business. Students will also learn organizational and record keeping processes to help them either file taxes completely on their own or to reduce their accountant’s bill. Additionally, students will examine various online tax software programs and will learn how to e-file from both the IRS website and private tax software websites. Class discussions will offer helpful hints for deductions and credits as well as investment planning, enabling students to plan ahead and to gain the best tax advantages possible.