Federal and State Personal and Corporate Taxes Course | Alison
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Introduction to Personal and Corporate Taxes

Gain better insight into the US taxation system including estate tax, federal tax, tax deductions, and tax credits.

Accounting
Free Course
This free online taxation systems course will teach you about the different aspects of personal taxation and corporate taxation with an emphasis on the US taxation system. In this course you will learn how to calculate tax rates on personal income and study the difference between tax deductions and tax credits. You will also look into estate tax, learn how the taxation system affects limited liability corporations, and more.
  • Duration

    1-2 Hours
  • Assessment

    Yes
  • Certification

    Yes
  • Publisher

    Khan Academy

Description

Modules

Outcome

Certification

View course modules

Description

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!

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Learning Outcomes

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.

Certification

All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire an official Certificate, which is a great way to share your achievement with the world. Your Alison Certificate is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certificates for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

All Certificates are available to purchase through the Alison Shop. For more information on purchasing Alison Certificates, please visit our FAQs. If you decide not to purchase your Alison Certificate, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certificate pricing, please visit our Pricing Page.

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