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Fundamentals of Income Taxation 3 Credits 2.5 Credits

Jun 01, 2023, 12:30 PM ET

Fundamentals of Income Taxation 3 Credits 2.5 Credits

  • Rating

    4.6

  • Reviewed on

    November, 2023

  • Subject Area

    Taxes

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Jun 01, 2023, 12:30 PM ET

Learning Objectives

  • To identify how the federal income tax differs from other types of federal taxes.
  • To determine the steps in computing a taxpayer's federal income tax liability.
  • To differentiate tax consequences for terms commonly used for the federal income tax, such as "adjusted gross income," “qualifying child,” “tax credits,” “filing status,” and “kiddie tax.”
  • To recognize how an individual's standard deduction is determined.
  • To explain differences in the tax for ordinary income, capital gains, and qualified dividend income.
  • To discuss the difference between the cash and accrual method, and the correct period in which taxpayers must recognize income and/or deductions.
  • To review deadlines for filing income tax returns and estimated taxes and how to obtain an extension of time for filing a return.

Course Overview

This highly informative course comprehensively covers all tax law developments. The focus is on individual taxation and discussion of the planning opportunities practitioners need to understand to help clients respond effectively. You will come away from the course with the up-to-date knowledge to educate your tax clients and implement tax-saving ideas that will serve their ever-evolving needs. 

This continuing education webinar examines the basic substantive provisions of the federal income tax law. Including gross income, exclusions, deductions, basis, tax accounting, and other provisions affecting situations encountered by attorneys in general practice.

Join Allison McLeod, CPA, for an introductory course on the fundamentals of preparing and filing an individual federal income tax return. We will cover topics such as what federal income tax is and how it is computed.

This CPE Tax webinar will be an overview of:

  • Who Must File?
  • Calculating the Federal Tax Liability
  • Form 1040
  • Alternative Minimum Tax ("AMT")
  • AMT Tax Rates and Exemptions — 2022
  • Additional Federal Taxes
  • Types of Tax Years
  • Recognition of Income and Deductions
  • Accrual Method
  • Income and Exclusions
  • Filing Status
  • Common Tax Concepts

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 3 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01408-22-S) 3 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) 3 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01136) 3 CE Approved
Taxes for Personal Financial Specialist (PFS) 3 CPD Eligible
Taxes for Delaware Licensed Public Accountant (DE-LPA) 3 CPE Eligible
Taxes for Chartered Financial Consultant (ChFC) 3 CE Eligible
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01408-22-S) 3 CE Approved
Taxes for Retirement Income Certified Professional (RICP) 3 CE Eligible
Federal tax-related matters for LTC (Approval No. GEHNZ-T-01408-22-S) 3 CE Approved
Taxes for Wealth Management Certified Professional (WMCP) 3 CE Eligible
Taxes for Financial Services Certified Professional (FSCP) 3 CE Eligible
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01408-22-S) 3 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 3 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 3 CPE Eligible
Taxes for Chartered Advisor in Senior Living (CASL) 3 CE Eligible
Taxes for Chartered Special Needs Consultant (ChSNC) 3 CE Eligible
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 2.5 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01398-22-S) 2 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) 2 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01127) 2 CE Approved
Taxes for Personal Financial Specialist (PFS) 2.5 CPD Eligible
Taxes for Chartered Financial Consultant (ChFC) 2.5 CE Eligible
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01398-22-S) 2 CE Approved
Taxes for Retirement Income Certified Professional (RICP) 2.5 CE Eligible
Federal tax-related matters for LTC (Approval No. GEHNZ-T-01398-22-S) 2 CE Approved
Taxes for Wealth Management Certified Professional (WMCP) 2.5 CE Eligible
Taxes for Financial Services Certified Professional (FSCP) 2.5 CE Eligible
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01398-22-S) 2 CE Approved
Taxes for Chartered Advisor in Senior Living (CASL) 2.5 CE Eligible
Taxes for Chartered Special Needs Consultant (ChSNC) 2.5 CE Eligible

Additional Information

Credits

3

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Attend and Earn CPE/CE credit with Allison McLeod Live Webinars

Allison McLeod , CPA (US)

Certified Public Accountant (CPA), Allison M. McLeod LL.M. CPA A PLLC

  • 4.6
  • rating
  • rating
  • rating
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Allison M. (Yee) McLeod, LL.M., JD, CPA, is currently a full-time Senior Lecturer at the University of North Texas in Denton, Texas. She has also taught at the UNT College of Law as an adjunct law professor. Prior to her career in academia, Professor McLeod spent 18 in industry, working for a Big 4 accounting firm. a major retailer and an international cement company. In addition to her academic duties, Professor McLeod has had the privilege of teaching ethics to Texas CPAs across the State since 2011 and regularly serves as an expert witness on accounting malpractice cases. She is the owner of CPAEthicsOnline.com, which provides ethics CPE courses online for CPAs nation-wide. She occasionally serves as an expert witness in accounting malpractice cases.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent (64%)

Very Good (28%)

Average (7%)

Poor

Terrible

ADA

Ana De Abreu, EA

5

Instructor had a nice pace and lots of knowledge. Easy to understand and real life examples.

JHK

James H Keegan, EA

5

Great Webinar---Good Review for Veteran Practitioners

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