THE TAX COMPUTATION

Federal Income Tax Course Outline

[ National Tax Training School ] [ Basic Tax Course ] [ Enrollment Form ] [ The Tax School ] [ Email ]

Lessons:

1. GENERAL PRINCIPLES

2. EXEMPTIONS - FILING STATUS

3. THE TAX COMPUTATION

4. GROSS INCOME EXCLUSIONS AND INCLUSIONS

5. GROSS INCOME EXCLUSIONS AND INCLUSIONS (Cont'd)

6. GAIN OR LOSS ON THE SALE OR EXCHANGE OF PROPERTY

7. BASIS

8. CAPITAL GAINS AND LOSSES

9. BUSINESS DEDUCTIONS

10. OTHER ALLOWABLE DEDUCTIONS

11. DEPRECIATION, ACCELERATED COST-RECOVERY, DEPLETION AND AMORTIZATION

12. BUSINESS AND CASUALTY LOSSES

13. BAD DEBTS

14. SELF-EMPLOYMENT TAX

15. ESTIMATED TAX

16. PAYROLL TAXES INCOME TAX WITHHOLDING

17. OTHER PAYROLL TAXES

18. TAX CREDITS

19. SPECIAL PROVISIONS FOR GAIN ON THE SALE OF TAXPAYER'S RESIDENCE

20. MISCELLANEOUS SPECIAL PROVISIONS

Assignment 3

THE TAX COMPUTATION

Contents

Introduction 301

Itemized Deductions 302

The Standard Deduction 303

Special Standard Deduction Limitations for Dependents 304

Special Rules for Married Persons Filing Separate Returns 305

Individuals Not Eligible For the Standard Deduction 306

How The Tax is Computed 307

The Tax Rate Structure 308

Rounding Off to Whole Dollar Amounts 309