Introduction to Personal and Corporate Taxes
Gain better insight into the US taxation system including estate tax, federal tax, tax deductions, and tax credits.
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This course begins with an introduction to the basics of the US income tax rate schedule. You will study the alternative minimum tax (AMT) which ensures that the taxpayers pay at least a minimum and recalculates income tax after adding certain tax preference items back into adjusted gross income. You will also study the estate tax which is a tax with a value that exceeds an exclusion limit set by law and levied on estates.
You will then look into federal taxes which are taxes paid to the national government, rather than to a state government. You will learn how to calculate federal taxes and also study the meaning and calculations for state taxes which is a direct tax levied by a state on your income. This course will also teach you about limited liability as applied to corporations. You will learn that limited liability limits a person's financial liability to a fixed sum, usually the value of his/her investment in a company or partnership.
There is an old saying that there are two certainties in life which are death and taxes. This is why it is a must that you gain a good understanding of personal and corporate taxes. Upon the completion of this course, you will become familiar with the basics of US income tax rate schedule, the alternative minimum tax, the basics of the estate tax, the calculation of federal and state taxes, and limited liability as applied to corporations. Sign up for this course and start your learning journey today!
Module 1: Introduction to the Personal and Corporate Taxes
US Taxation System - Learning Outcomes
Basics of US Income Tax Rate Schedule
Introduction to Tax Deductions
Alternative Minimum Tax - Part 1
Alternative Minimum Tax - Part 2
Introduction to Estate Tax
Tax Brackets and Progressive Taxation
Calculating Federal Taxes and Take Home Pay
Calculating State Taxes and Take Home Pay
Marriage Taxes - Clarification
Corporations and Limited Liability
Is Limited Liability or Double Taxation Fair?
Transfer Pricing and Tax Havens
Module 2: Personal and Corporate Taxation Assessment
Having completed this course the learner will be able to: - Describe the basics of US income tax rate schedule; - Describe the alternative minimum tax; - Describe the basics of estate tax; - Calculate federal taxes; - Calculate state taxes; - Describe limited liability as applied to corporations.
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