Course Learning Objectives

Upon finishing this course, you should be able to:
· Apply the inflation-adjusted and other limits to the proper preparation of taxpayers’ income tax returns
· Calculate taxpayers’ additional tax liability resulting from the Medicare tax, net investment income tax and individual shared responsibility payment
· Recognize Schedule C and the expenses that can be claimed
· Recognize the federal income tax filing statuses and the criteria for their use
· Identify the types of income that must be recognized
· Recognize the Affordable Care Act
· Apply the tax rules to the various credits and adjustments to income available to taxpayers
· Recognize the penalties that may be imposed on a preparer for failing to meet ethical and practice standards in preparing tax returns; and identify the e-file requirements that apply to tax return preparers.
· Apply the rules and regulation for same sex couples