Online Income Tax Courses and Training

Jul 19, 2018

Online income tax courses allow individuals to train at home in the increasingly complex field of personal and business finances. Those seeking credentials as a tax preparer have the option to take a competency exam offered by the Internal Revenue Service.

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Online Courses Related to Income Tax

Some of the most common online income tax courses include:

  • An introductory tax planning course provides students with a comprehensive overview of the core income tax planning process. The class explores methods for gathering, processing and analyzing essential financial data to develop a personal financial plan. Students also learn the importance of monitoring and periodically reviewing the plan.
  • In a state and federal taxation course, students learn the nuts and bolts of state and federal taxation as they relate to personal, business, and international income. Students explore the various tax-related ramifications of investments, annuities, and sales of property and advantages of charitable giving. They discuss the responsibilities of self-employment and estimating taxes.
  • To help clients maintain a financially sound investment portfolio, a course in investing and taxes lets students explore the income tax issues related to investing in the capital market. The course looks into the possible risks and returns of stocks, bonds, options, futures, and the tax liabilities they can incur.
  • An online risk management course investigates the numerous facets of life, disability, and medical insurance and how they're used in financial planning. Other topics related to income tax planning include auto, health, and homeowner's insurance.
  • In a retirement and benefit planning course, online participants discover how to plan, execute, and monitor personal and business-subsidized retirement plans, such as qualified and nonqualified retirement plans, individual retirement accounts and government plans. Employee benefits, such as Social Security, Medicare and health insurance, are also covered.
  • Reducing the federal and state taxation liabilities on transfers of wealth is central to an online estate planning course. The course also covers gifts, bequests, and non-tax related issues, such as powers of attorney, wills, trusts, and probate procedures.
  • Workers who are self-employed or work for small businesses often deal with a wholly different tax code, and a small business and self-employment tax returns course teaches students to navigate the regulations surrounding the unusual expenses incurred in this particular setting.
  • Students in course on financial regulations and ethics learn about ethical considerations when making financial decisions, including taxes. Students examine existing regulations and discuss social responsibility issues related to income tax preparations.
  • A CFP exam preparation course prepares students specifically to take the Certified Financial Planner (CFP) certification exam. Income tax specialists can demonstrate their skills to potential clients by earning this professional designation.

Program Information

Students can study income tax preparation online through financial planning or tax preparation programs, which commonly lead to certificates. These programs generally require less than a year to complete, and some can be completed in as little as ten weeks.

Income tax students spend a significant amount of time learning about state and federal tax codes as they apply to personal, business, and international taxation. This type of coursework requires tax code memorization and basic math skills. Individuals can take a three-part exam to gain a special IRS credential, called an enrolled agent, that allows them to represent tax payers. A Certified Financial Planner (CFP) designation is also available through the Certified Financial Planner Board of Standards.

Courses that are relevant for income tax specialists are available through online certificate programs. They provide education in many aspects of finance so graduates are prepared to offer useful tax advice to their clients.

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