Our BASIC income tax courses are offered in three segments:

BASIC INCOME TAX (BIT) COURSE 1: Introduces basic tax concepts such as filing information, exemptions, basic credits, and more.

• Filing information and IRS e-file
• Exemptions and dependents
• Filing status and standard deduction
• W-2, tax table and tax rate schedule
• Common nonrefundable credits: Child Tax Credit, Dependent Care Credit, Education Credits, and the Retirement Savings Contributions Credit
• Common refundable credits: Earned Income Tax Credit, Additional Child Tax Credit, and excess Social Security taxes paid
• Simple Schedule A: medical expenses, taxes and taxable state refund, mortgage interest, charitable contributions, and gambling expenses

BASIC INCOME TAX (BIT) COURSE 2: Teaches dividends, capital gains, IRAs, employee business expenses, and other miscellaneous expenses, and more.

• Taxable Social Security benefits
• Pension distributions
• Simple Schedule C (no depreciation), standard mileage for vehicles, Schedule Self Employment, SE tax adjustment to income
• IRA distributions
• Other income and adjustments
• Estimated tax payments, balance due, extensions and course review

BASIC INCOME TAX (BIT) COURSE 3: covers depreciation, Schedule E and basis of property, and more.

• Sale of capital assets
• Depreciation Part I, including section 179 deduction
• Depreciation Part II, including actual vehicle expenses
• Other Common Forms — Review of the office-in-home, amended returns, installment agreement, injured and innocent spouse