Welcome and Introduction

with Bill Brough


 


Become proficient in the planning and preparation of both individual and business returns.  As a certified Professional Tax Preparer™ you’ve been trained and tested to provide the quality services expected from a tax preparer. What better service to complement accounting than tax preparation and planning? By mastering this one skill you can increase your income by approximately $100+ per hour.

 Line by line, the Universal Accounting®’s Professional Tax Preparer™ program will teach you how to complete individual and business returns so that you can either prepare taxes on the side or start your own tax business full-time. Many tax preparers make more money in the months leading up to the April 15 tax deadline than many make all year long! Every company, large or small, and all its employees, are required to file taxes. That means tax preparation skills will always be in demand. 

Course curriculum

  • 1

    Professional Tax Preparer: Module 3: Profitable Business Returns

  • 2

    Session 1: Business Entities

    • Part 1 - Understanding Business Entities

      FREE PREVIEW
    • Video: Proprietorships

      FREE PREVIEW
    • Part 2 - Sole Proprietorships

    • Video: Partnerships

    • Part 3 - Partnerships

    • Video: Limited Liabilities Companies

    • Part 4 - Limited Liability Companies (LLCs)

    • Video: S-Corporations

    • Part 5 - S Corporations

    • Video: C-Corporations

    • Part 6 - C Corporations

    • Video: Personal Service Corporation

    • Part 7 - Personal Service Corporations (PSCs)

    • Video: Review

    • Session 1: Review Questions

    • Module 3 Chapter 1 Learning Activity

    • PTPM3S1 Business Entities LA Solutions

  • 3

    Session 2: Tax Concepts in Accounting

    • Video: Introduction

      FREE PREVIEW
    • Video: Accounting Periods

    • Part 1 - Accounting Periods

    • Video: Accounting Methods

    • Part 2 - Accounting Methods

    • Video: Accounting Basics

    • Part 3 - Accounting Basics

    • Video: Business Taxes

    • Part 4 - Business Taxes

    • Video: Affordable Care Act

    • Part 5 - Taxation Under TCJA

    • Video: Review

    • Session 2: Review Questions

    • Module 3 Chapter 2 Learning Activity

    • PTPM3S2 Tax Concepts in Accounting LA Solutions

  • 4

    Session 3: Elements of a Business Financial Statement

    • Video: Introduction

      FREE PREVIEW
    • Video: Income

    • Part 1 - Income

    • Video: Expenses

    • Part 2 - Expenses

    • Video: Cost of Goods Sold

    • Part 3 - Costs

    • Video: Depreciation

    • Part 4 - Depreciation and Amortization

    • Video: Review

    • Session 3: Review Questions

    • Module 3 Chapter 3 Learning Activity

    • PTPM3S3 Elements of a Business Financial Statement LA Solutions

  • 5

    Session 4: Dispositions of Business Property

    • Video: Introduction

      FREE PREVIEW
    • Video: Like Kind Exchanges

    • Part 1 - Like-Kind Exchanges

    • Video: Trade-Ins

    • Part 2 - Trade-Ins

    • Video: Converted Personal Property

    • Part 3 - Converted Personal-Use Property

    • Video: Calculating Gain or Loss

    • Part 4 - Calculating Gain or Loss

    • Video: IRS Property Codes

    • Part 5 - IRS Property Codes

    • Video: Review

    • Session 4: Review Questions

    • Module 3 Chapter 4 Learning Activity

    • PTPM3S4 Dispositions of Business Property LA Solutions

  • 6

    Session 5: Schedule C

    • Video: Introduction

      FREE PREVIEW
    • Video: Sole Proprietors_Single Member LLCs

    • Part 1 - Sole Proprietors, Single Member LLCs

    • Video: Hobby or Business

    • Part 2 - Hobby or Business?

    • Video: Income

    • Part 3 - Income

    • Video: Cost of Goods Sold

    • Part 4 - Cost Of Goods Sold

    • Video: Expenses

    • Part 5 - Expenses

    • Video: Office in Home

    • Part 6 - Office In Home

    • Video: Vehicle Expenses

    • Part 7 - Vehicle Information

    • Video: Self-Employment Tax

    • Part 8 - Self-Employment Taxes

    • Video: Estimated Tax Payments

    • Part 9 - Estimated Tax Payments

    • Video: Review

    • Session 5: Review Questions

    • Module 3 Chapter 5 Learning Activity

    • PTPM3S5 Schedule C LA Solutions

  • 7

    Session 6: Form 1065 - Partnerships

    • Video: Introduction

      FREE PREVIEW
    • Video: Partnerships and LLCs

    • Part 1 - Partnerships And LLCs

    • Video: Basis of Partners Interest in Partnership

    • Part 2 - Basis Of Partners' Interest In Partnership

    • Video: Form 1065

    • Part 3 - Form 1065

    • Video: Review

    • Session 6: Review Questions

    • Module 3 Chapter 6 Learning Activity

    • PTPM3S6 Form 1065 - Partnerships LA Solutions

  • 8

    Session 7: Form 1120 - Corporations

    • Video: Introduction

      FREE PREVIEW
    • Video: Corporations

    • Part 1 - Form 1120 - Corporations

    • Video: Stock

    • Part 2 - Stock

    • Video: Form 1120

    • Part 3 - Form 1120 – Income (Loss) and Deductions

    • Part 4 - Form 1125-A – Cost Of Goods Sold

    • Part 5 - Schedule C – Dividends and Special Deductions

    • Part 6 - Form 1125-E – Compensation of Officers

    • Part 7 - Schedule J – Tax Computation and Payment

    • Part 8 - Schedule K – Other Information

    • Part 9 - Schedule L – Balance Sheet

    • Part 10 - Schedule M-1 – Reconciliation of Income (Loss) per Books

    • Part 11 - Schedule M-2 Analysis of Unappropriated Retained Earnings

    • Part 12 - Estimated Payments and Underpayment of Estimated Taxes

    • Video: Review

    • Session 7: Review Questions

    • Module 3 Chapter 7 Learning Activity

    • PTPM3S7 Form 1120 Corporations LA Solutions

  • 9

    Session 8: Form 1120S - S Corporations

    • Video: Introduction

      FREE PREVIEW
    • Video: S Corporations

    • Part 1 - S Corporations

    • Video: Form 1120S - Income _Loss and Deductions

    • Part 2 - FORM 1120S – Income(Loss) and Deductions

    • Part 3 - Form 1125-A – Cost of Goods Sold

    • Part 4 - Schedule B - Other Information

    • Part 5 - Schedule K – Shareholder's Pro Rata Share Items

    • Part 6 - Schedule L – Balance Sheet per Books

    • Part 7 - Schedule M-1 – Reconciliation of Income (Loss) per Books with Income (Loss) per Return

    • Part 8 - Schedule M-2 – Analysis of Adjustment Accounts

    • Part 9 - Schedule K-1 – Shareholder's Share of Income (Heading Section)

    • Video: Review

    • Session 8: Review Questions

    • Module 3 Chapter 8 Learning Activities

    • PTPM3S8 Form 1120S - S Corporations LA Solutions

  • 10

    Professional Tax Preparer Module 3 Exam

    • 2021 Professional Tax Preparer Module 3 Practice Exam

    • 2021 Profitable Business Returns