myCPE

Business Tax Basics: A Step-by-Step Guide

Decode U.S. Business Taxes with Practical Insights

  • Recognize the core concepts of business taxation.
  • Identify and explain key business tax forms.
  • Explore employer IDs, accounting methods, and tax years.
  • Analyze state taxes, international compliance, and incentives.
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3,500+

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4.7/5(2.2K+ Reviews)
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All Practical Training Programs Available Only in Teams Premium Plan

Why Professionals Trust Our Practical Training Programs

  • Programs designed to build skills for more workplace efficiency.
  • Comprehensive tax training aligned with industry standards.
  • Supportive learning tools for application of knowledge.
  • Regular updates to course for staying with industry trends.
All Practical Training Programs Available Only in Teams Premium Plan
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Course Details

What You’ll learn

Discover how to simplify the complexities of business tax compliance in the U.S. Designed for tax professionals, accountants, and business owners, this course delves into everything from filing essentials to tax concepts. Covering federal, state, and international tax guidelines, it equips you with the tools to manage real-world scenarios confidently. Ideal for those navigating business tax returns or looking to enhance their skills in tax compliance and planning, this course offers a blend of practical knowledge and professional insight.

Major Topics covered

EIN Application

SALT Overview

Partnerships & Form 1065

S-Corps & Form 1120-S

C-Corps & Form 1120

Disclaimer : Before attending any course, please verify that the credit details align with your qualification requirements. This certificate is designed to help you acquire new skills and knowledge, which may or may not fulfill specific compliance criteria. While we have made every effort to ensure our courses adhere to compliance standards, we recommend reviewing the details to confirm applicability for your needs.

Course Modules

Course Title Time Total Session
1. Introduction to the Course
5 Mins 1 Session
  • Play Now - Introduction to the training
2. Introduction to the Business Tax
40 Mins 4 Sessions
  • Play Now - Preface
  • Play Now - History to the U.S. Income Tax
  • Play Now - Brief about IRC
  • Play Now - Types of Business Tax Forms
3. Basics Concepts about Business Tax
54 Mins 5 Sessions
  • Play Now - Introduction
  • Play Now -Important Terms
  • Play Now - Filing requirements & Due dates
  • Play Now - Income & Deductions
  • Play Now - Book to Tax adjustment
4. Employer Identification Number (EIN)
33 Mins 1 Session
  • Play Now - Employer Identification Number (EIN)
5. Tax Years & Accounting Methods
41 Mins 4 Sessions
  • Play Now - Tax Years
  • Play Now - Change in Tax Year
  • Play Now - Accounting Methods
  • Play Now - Change in Accounting Methods
6. Adjusting Journal Entries
30 Mins 3 Sessions
  • Play Now - What is an Adjusting Journal Entries?
  • Play Now - Types of Adjusting Journal Entries
  • Play Now - Why AJEs are important
7. Pass-Through Entity
30 Mins 2 Sessions
  • Play Now - What is a PTE?
  • Play Now - Advantages & Disadvantages
8. Basics about Partnership & Form 1065
60 Mins 3 Sessions
  • Play Now - Types of Partnerships
  • Play Now - LLC Pros and Cons
  • Play Now - Sch K & K-1
9. S-Corporations & Form 1120-S
47 Mins 3 Sessions
  • Play Now - Advantages & Disadvantages
  • Play Now - Sch K & K-1
  • Play Now - Basis
10. C Corporations & Form 1120
33 Mins 2 Sessions
  • Play Now - C-Corps vs Others
  • Play Now - Form 1120 Overview
11. Common Business returns points
36 Mins 2 Sessions
  • Play Now - Schedule M-1 & M-3
  • Play Now - Schedule M-2
12. State and Local Taxes (SALT)
50 Mins 4 Sessions
  • Play Now - Fundamentals of State and Local Income Tax
  • Play Now - What is State Tax Nexus
  • Play Now - Nexus Threshold Standards
  • Play Now - Apportionment vs Allocation
13. Tax Credits & Incentives
27 Mins 3 Sessions
  • Play Now - Basics about Tax Credits
  • Play Now - Most common types of Business Tax Credit
  • Play Now - Small Business Healthcare Tax Credit
14. Fix Assets & Depreciation
1 Hr, 28 Mins 5 Sessions
  • Play Now - Capitalizing Vs. Expensing
  • Play Now - Tax Depreciation
  • Play Now - Methods of Depreciation
  • Play Now - Cost Recovery System
  • Play Now - Bonus & 179
15. Extensions & Estimates
34 Mins 2 Sessions
  • Play Now - Extensions
  • Play Now - Penalties & Interests
16. International Compliances (Basics)
39 Mins 3 Sessions
  • Play Now - Sch K-2 & K-3
  • Play Now - Form 5471, 5472, 8938 & FBAR
  • Play Now - GILTI and BEAT basic understanding
17. Practical video
41 Mins 2 Sessions
  • Play Now -C- corp
  • Play Now - S- corp
      18. Mock Tests
      19. Final Quiz

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Discover Why We’re the Preferred Choice!

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Insightful and Informative

“This course truly opened my eyes to the complexities of U.S. business taxation. The modules were easy to follow, and the content was rich with real-world insights. 💡”

Liam D. Harris

Liam D. Harris, CPA, CFA

Financial Consultant

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Great Learning Experience

“The course was a fantastic experience! I learned so much about business tax structures, filing requirements, and key forms like 1120 and 1065. Kudos to MYCPE ONE for such a well-designed program! 📝”

Samantha E. Jones

Samantha E. Jones, EA

Business Tax Advisor

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Thorough and Engaging

“This was a well-structured course that covered everything from EIN applications to state and local tax complexities. It gave me a great foundation to build on for my career in taxation.”

Paul R. Benton

Paul R. Benton, CRTP

Tax Planning Consultant

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Excellent Platform and Content

“I’ve taken multiple courses on MYCPE ONE, but this one truly stood out. The section on tax forms and schedules like K-1 was especially eye-opening. Great work, MYCPE ONE!”

Rebecca S. Harris

Rebecca S. Harris, AFSP

Tax Filing Specialist

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Valuable Insights

“As a business consultant, this course gave me the clarity I needed to advise my clients effectively. From tax year selection to compliance, every topic was covered in detail. Plus, the practical tools provided were invaluable. I'm excited to apply what I've learned!”

David T. Spencer

David T. Spencer, ChFC

Business Tax Strategist

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Highly Recommended!

“This course offered a deep dive into U.S. business tax regulations. I was particularly impressed with the focus on SALT concepts and apportionment formulas. It’s helped me improve my approach to financial planning for businesses. I’ll definitely recommend it to my colleagues.”

Olivia M. Bennett

Olivia M. Bennett, RICP

Financial Planning Expert

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Comprehensive and Practical

“This course is the perfect blend of technical knowledge and practical application for business taxation. The insights into state tax nexus and SALT thresholds were especially useful for my current role. I'm glad I took this course. 🌟”

Jessica L. Harper

Jessica L. Harper, CASL

State Tax Specialist

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Comprehensive and Relevant

“What I loved most about this course was the real-world applicability of the material. Whether it was accounting methods, depreciation, or compliance practices, every lesson was packed with valuable takeaways.”

Eric T. Garcia

Eric T. Garcia, FSCP

Compliance Tax Consultant

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Fantastic Course for Tax Professionals

“I’ve always been curious about the complexities of business taxation, and after taking this course, I feel much more equipped to deal with tax compliance and reporting. The information was clear, detailed, and applicable to anyone working in this field. Plus, MYCPE ONE's platform is always top-notch. 💯”

Tracy W. Allen

Tracy W. Allen, WMCP

Tax Reporting Specialist

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A Must-Take for Tax Professionals

“The business taxation field has so many nuances, and this course did an excellent job explaining them. The modules on filing requirements and book-to-tax adjustments were especially valuable. I’m excited to use these insights in my work. Great job, MYCPE ONE!”

Andrew C. Morgan

Andrew C. Morgan, PFS

Senior Tax Analyst

Frequently Asked Questions

The course covers essential areas such as the history of U.S. business taxation, EIN applications, key business tax forms (1065, 1120-S, 1120), adjusting journal entries, state and local tax (SALT) fundamentals, and practical simulations to apply concepts effectively.

The course is ideal for tax professionals, accountants, small business owners, and anyone involved in U.S. business tax compliance and reporting. It’s also suitable for career shifters and students exploring opportunities in taxation and accounting.

Practical learning is emphasized through interactive quizzes, real-world examples, and step-by-step simulations on filling forms such as 1065, 1120-S, and 1120. This hands-on approach ensures participants can confidently apply their knowledge in real scenarios.

Participants gain access to expert-led video sessions, in-depth case studies, and practical simulations. Comprehensive study materials, quizzes with explanations, and additional resources are also provided to enrich the learning experience.

The instructors are seasoned tax professionals with years of experience in business taxation. They offer deep insights into tax compliance, reporting, and practical applications, ensuring learners receive actionable knowledge and a well-rounded understanding of the subject.

Completing the course opens doors to roles such as Tax Associate, Business Tax Compliance Specialist, Tax Preparer for Business Entities, State and Local Tax (SALT) Analyst, and more. Entry-level salaries start around $39,859 and can exceed $144,721 at higher professional levels.

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