30 Hour Course
Course ID: UUBXU-U-00014-18-S, UUBXU-T-00003-17-S, UUBXU-U-00016-18-S,UUBXU-U-00019-18-S, UUBXU-U-00015-18-S, UUBXU-U-00021-18-S,UUBXU-U-00017-18-S, UUBXU-U-00018-18-S, UUBXU-E-00001-17-S
Approved By: Internal Revenue Service (IRS)
This 30-hour course will provide Oregon real estate licensees with all of the continuing education necessary for license renewal, including ethics.
The course will begin by reviewing the federal filing requirements for taxes. Topics we'll cover here include who is required to file, how to select the correct form, how to file for an extension, and how to handle things like identity theft and mistakes on returns. After that, we'll cover the parameters of federal filing status, and discussing the qualifications required for each type of status.
In our Gross Income class, we'll talk about what qualifies as gross income and therefore must be reported. This includes a discussion of recording and reporting tips, as well as interest income, and other indirect income.
Retirement accounts will be covered in our class on income adjustments. We'll discuss how different retirement accounts and types of accounts affect a taxpayer's return, and we'll touch on some alimony and education-related adjustments as well.
After that, we'll move on to some more specialized topics, starting with the taxation of rental income and expenses. This class will address the types of expenses that rental housing can require, and what tax benefits they qualify for. We'll talk about how rental income is taxed, practice depreciation deductions, and review the new tax provisions that benefit owners of rental real estate.
In our class on additional schedules, we'll look at some of the most commonly-used schedules: C, F, J and SE. We'll cover who these are intended for and what benefits they offer to taxpayers. These schedules will be examined in detail, before we move on to our credits class. This lesson will examine the federal credits offered to taxpayers, and we'll identify the credits which are no longer available.
In Other Additions to Federal Income Tax Returns, we'll take an in-depth look at the Alternative Minimum Tax (AMT) and it's new guidelines under the Tax Cuts and Jobs Act. We'll perform some sample calculations under AMT rules, before we review the various credits available to those with minor children. Finally, we'll look at FICA and estimated taxes.
The course will conclude with the required Ethics class, where we'll talk about the nature of ethics, why they matter to tax preparers, and how to serve clients ethically in your profession. Each class in this course package will be followed by a short quiz.