Online Income Tax Courses and Training
Online income tax courses allow individuals to train at home in the increasingly complex field of personal and business finances. Those seeking credentials as a tax preparer have the option to take a competency exam offered by the Internal Revenue Service.
Find schools that offer these popular programs
- Accounting with Computers, General
- Financial Accounting
- Managerial Accounting
- Taxation, General
Students can study income tax preparation online through financial planning or tax preparation programs, which commonly lead to certificates. These programs generally require less than a year to complete, and some can be completed in as little as ten weeks.
Income tax students spend a significant amount of time learning about state and federal tax codes as they apply to personal, business and international taxation. This type of coursework requires tax code memorization and basic math skills. Individuals can take a 3-part exam to gain a special IRS credential – called an enrolled agent – that allows them to represent tax preparers.
Online Income Tax Courses
- Introductory Tax Planning Course: This course provides students with a comprehensive overview of the core income tax planning process. The class explores methods for gathering, processing and analyzing essential financial data to develop a personal financial plan. Students also learn the importance of monitoring and periodically reviewing the plan.
- State and Federal Taxation Course: In this tax-planning course, students learn the nuts and bolts of state and federal taxation as they relate to personal, business and international income. Students explore the various tax-related ramifications of investments, annuities and sales of property and advantages of charitable giving. They discuss the responsibilities of self-employment and estimating taxes.
- Investing and Taxes Course: To help clients maintain a financially sound investment portfolio, students explore the income tax issues related to investing in the capital market. The course looks into the possible risks and returns of stocks, bonds, options, futures and the tax liabilities they can incur.
- Risk Management Course: This online course investigates the numerous facets of life, disability and medical insurance and how they are used in financial planning. Other topics related to income tax planning include auto, health and homeowner’s insurance.
- Retirement and Benefit Planning Course: Online participants discover how to plan, execute and monitor personal and business-subsidized retirement plans, such as qualified and nonqualified retirement plans, individual retirement accounts and government plans. Employee benefits, such as Social Security, Medicare and health insurance, are also covered.
- Estate Planning Course: Reducing the federal and state taxation liabilities on transfers of wealth is central to this online course. The course also covers gifts, bequests, and non-tax related issues, such as powers of attorney, wills, trusts and probate procedures.
- Small Business and Self-Employment Tax Returns Course: Workers who are self-employed or work for small businesses often deal with a wholly different tax code, and this course teaches students to navigate the regulations surrounding the unusual expenses incurred in this particular office setting.