Small Business Income Tax Course Level 2

30 Hours / 3 Months / Mentor Supported

Course Overview:

Students will study more in-depth areas of business taxation in this course. This course includes a study of the balance sheet, a more in-depth study of partnerships and partnership issues, corporation issues, a more complex study of s-corporations, fringe benefits, business tax credits, amended business returns, farm income, tax practitioner regulations and penalties, taxes and tax research. Upon completion of this course a student will be able to complete the most complex of business returns. Prior tax knowledge and experience are required for this course.

  • Prior tax preparation experience/knowledge is required.
  • This course is designed to enhance the knowledge and experience of tax practitioners.
  • Students normally enroll in this course after completing the Comprehensive Income Tax Class and working at least one season as a tax preparer.
  • This course will give you the confidence to take on more complex returns by reinforcing your existing tax knowledge and building on it.
  • This course is also suitable for a veteran preparer who needs to refresh his/her skills.
  • If you are an enrolled agent, accountant, lawyer, financial planner, business owner, experienced tax preparer, or just interested in increasing your tax knowledge, the Advanced Course will enable you to prepare more complex individual tax returns.
  • This course provides the critical education and knowledge which make the graduates more competent and successful than their competitors. 

Course Outline:

  • Understanding the Balance Sheet 
  • Partnership Issues 
  • Corporation Issues 
  • General Business Credits 
  • Tax Issues Related to Buying a Business 
  • Sale or Liquidation of Business 
  • Profit or Loss From Farming - Schedule F 
  • Amended or Corrected Business Returns 
  • What to Do When You Owe the IRS? 
  • Tax Preparation for Non-profits: 501(c)(3), 501(c)(4), 501(c)(6), etc.

All necessary materials are included.


System Requirements:

Internet Connectivity Requirements:
  • Cable and DSL internet connections are recommended.

Hardware Requirements:
  • Minimum Pentium 400 Mhz CPU or G3 Macintosh. 1 GHz or greater CPU recommended.
  • 256MB RAM minimum. 1 GB RAM recommended.
  • 800x600 video resolution minimum. 1025x768 recommended.
  • Speakers/Headphones to listen to Dialogue steaming audio sessions.
  • A microphone to speak in Dialogue streaming audio sessions.
Operating System Requirements:
  • Windows Vista, 7, 8, 8.1, 9, 10
  • Mac OSX 10 or higher.
  • OpenSUSE Linux 9.2 or higher.
Web Browser Requirements:
  • Google Chrome is recommended.
  • Firefox 13.x or greater.
  • Internet Explorer 6.x or greater.
  • Safari 3.2.2 or greater.
Software Requirements:
  • Adobe Flash Player 6 or greater.
  • Oracle Java 7 or greater.
  • Adobe Reader 7 or greater.
Web Browser Settings:
  • Accept Cookies
  • Disable Pop-up Blocker.


**Outlines are subject to change, as courses and materials are updated.**