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Luxury Tax Pro Advanced Academy
COURSE INTRODUCTION
Welcome to the Tax Academy!
Course Overview & Objectives
Course Disclaimer
MODULE 1.1 - BECOMING A REGISTERED TAX PREPARER WITH THE IRS
Your Role & Responsibilities as a Tax Professional
The Benefits of Becoming a Tax Professional
How to Become a Tax Preparer
Completing a Tax Course (8:20)
Obtain Your PTIN (Preparer Tax ID Number)
Let's Play Tax Trivia!
Module 1.1 Quiz
MODULE 1.2 - BECOMING AN ERO (ELECTRONIC RETURN ORIGINATOR)
Starting Up Your Tax Business From Scratch
The Role of an ERO (Electronic Return Originator)
Get Your EFIN (Electronic Filing ID Number)
How to Maintain, Monitor, & Protect Your EFIN
WISP Plan
E&O (Errors & Omissions) Insurance
Cyber Security
Professional Tax Software
Module 1.2 Practice Quiz
MODULE 2 - CUSTOMER SERVICE & ETHICAL OBLIGATIONS OF A PREPARER
Customer Service in the Tax industry
Office of Professional Responsibility
Circular 230 - Professional Responsibility and Ethical Obligations of a Tax Preparer (3:25)
Practice Before the IRS (11:41)
Due Diligence & Record Keeping (13:56)
Due Diligence Training Module (IRS website) (2:15)
Important IRS Tax Dates
Let's Play Tax Trivia!
Module 2 Quiz
MODULE 3 - INTRODUCTION TO TAX PREPARATION
Introduction to the income tax return
The TCJA - Tax Cuts & Jobs Act of 2017
Filing Statuses
Dependents - Qualifying Child vs Qualifying Relative
Who Must File a Tax Return?
The Interview Process & Client Intake Form
Let's Play Tax Trivia!
Module 3 Practice Quiz
MODULE 4 - INDIVIDUAL TAX RETURNS (THE 1040 FORM)
Federal Individual Income Taxes
The Different Types of Taxes
Form 1040
Tax Schedules that attach to Form 1040 (30:03)
Standard Deduction vs Itemized Deductions
Tax Credits vs. Deductions
Amending a Tax Return
Let's Play Tax Trivia!
Module 4 Practice Quiz
MODULE 5 - TYPES OF INCOME & COMMON TAX FORMS
The W-2 Form (Wage and Tax Statement)
1099 Forms (All Forms) (17:12)
The W-4 Form (Employee's Withholding Certificate)
1098 Forms (All Forms) (6:07)
The W-7 Form (Application for IRS ITIN's)
Let's Play Tax Trivia!
Module 5 Practice Quiz
MODULE 6 - SMALL BUSINESS TAX RETURNS (THE SCHEDULE C)
Types of Business Entities for Tax Purposes
Self-Employment Taxes
Small Business Tax Returns (Schedule C)
Beneficial Ownership Information Reporting for Small Businesses
Let's Play Tax Trivia!
Module 6 Practice Quiz
MODULE 7 - TAX LAW CHANGES & UPDATES
Overview of Tax Law Changes
2024 Tax Law Changes (current laws)
2025 Tax Law Changes (pending for new tax year)
Let's Play Tax Trivia!
Module 7 Practice Quiz
MODULE 8 - MARKETING YOUR TAX BUSINESS
Building Clients and Developing Your Practice
Marketing & Resources
Tax Flyers for Marketing
MODULE 9 - TAX SOFTWARE TRAINING: TAXSLAYER PRO
Paper vs Electronic Filing Methods
Tax Preparation Software Overview - TaxSlayer Pro
Tax Software Training
Tax Software Download
PRACTICE SCENARIOS (1-5)
Practice Return Overview
Practice Return 1
Practice Return 2
Practice Return 3
Practice Return 4
Practice Return 5
PRACTICE SCENARIOS (6-10)
Practice Return 6
Practice Return 7
Practice Return 8
Practice Return 9
Practice Return 10
COURSE WRAP-UP
Next Steps - Continuing Education & AFSP Completion
Course Summary & Wrap-Up
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Tax Software Training
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