Federal Taxation I: Individuals, Employees, and Sole Proprietors

This module provides an introduction to the course, including a meet and greet with instructors, an overview of the syllabus, and insights into online education at Gies College of Business.

Gain a solid understanding of taxation, tax structure, tax rate history, types of taxes, and various sources of tax law in this comprehensive module.

Explore computing the tax, including gross income, deductions, tax calculations, filing status, and tax rate schedules, providing a fundamental understanding of tax computation.

Delve into the concept of gross income, accounting methods, alimony, prizes, life insurance, and other components impacting gross income.

Understand exclusions from gross income, including municipal bond interest, gifts, scholarships, and employee fringe benefits, through detailed examples and explanations.

Learn about deductions for and from AGI, trade or business deductions, timing of deductions, and losses, providing insights into the general concepts of deductions.

Explore business deductions, including transportation expenses, bad debts, qualified business income, net operating losses, and education expenses to gain a comprehensive understanding of business tax deductions.

Gain insights into itemized deductions, retirement plans, and traditional IRAs, including non-deductible and Roth IRAs, and exceptions to early withdrawal penalties.

Engage in a comprehensive example, wrap-up, and graded tax return problem instructions, and reflect on the course's content and your learning journey.