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LGM Tax Prep University for Beginners
COURSE INTRODUCTION
Welcome to the LGM Tax Prep University
Meet Your Tax Coach
Course Overview & Objectives
Course Disclaimer
MODULE 1 - BECOMING A REGISTERED TAX PREPARER WITH THE IRS
The Role of a Tax Professional
The Benefits of Becoming a Tax Professional
How to Become a Tax Preparer
Completing a Tax Course (8:22)
Obtain Your PTIN (Preparer Tax ID Number) (4:02)
Due Diligence Training Module (IRS website) (2:16)
Module 1 - Important Resources
Module 1 Practice Quiz
MODULE 2 - CUSTOMER SERVICE & ETHICS FOR A TAX PREPARER
Customer Service in the Tax industry (8:23)
Circular 230 - Professional Responsibility and Ethical Obligations of a Tax Preparer (3:25)
Who Can Practice Before the IRS? (11:37)
Due Diligence & Record Keeping (13:55)
Understanding Tax Laws & Regulations
Important Tax Deadlines (3:06)
Module 2 - Important Resources
Module 2 Practice Quiz
MODULE 3 - INTRODUCTION TO TAX PREPARATION
Introduction to Tax Preparation
Overview on Paper and Electronic Filing Methods
Filing Statuses (10:36)
Dependents - Qualifying Child vs Qualifying Relative (15:42)
Who Must File a Tax Return? (8:08)
Finding Tax Forms & Publications
Module 3 - Important Resources
Module 3 Practice Quiz
MODULE 4 - INDIVIDUAL TAX RETURNS
Intro on Federal Individual Income Taxes
Form 1040 (21:28)
Tax Schedules that attach to Form 1040 (30:03)
Standard vs Itemized Deductions (11:02)
Tax Credits and Deductions
Amending a Tax Return (13:45)
Module 4 - Important Resources
Module 4 Practice Quiz
MODULE 5 - TYPES OF INCOME & FORM BREAKDOWNS
The W-2 Form (3:56)
1099 Forms (17:12)
The W-4 Form (4:08)
1098 Forms (6:07)
Module 5 - Important Resources
Module 5 Practice Quiz
MODULE 6 - SMALL BUSINESS TAX RETURNS (THE SCHEDULE C)
Types of Business Entities for Tax Purposes
Self-Employment Taxes
Small Business Tax Returns (The Schedule C) (38:30)
Beneficial Ownership Information Reporting for Small Businesses (11:03)
Module 6 - Important Resources
Module 6 Practice Quiz
MODULE 7 - TAX LAW UPDATES
Overview of Tax Law Changes
Current Tax Law Changes (36:34)
MODULE 8 - MARKETING
Building Your Clientele and Developing Your Practice
Marketing Strategies (17:04)
Client Intake Forms
Tax Flyers
Teach online with
Tax Flyers
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