WELCOME TO NEXUS TAX SCHOOL
Module 1: Understanding Tax Basics
Module 2: Filing Status and Exemptions
Module 3: Income and Deductions
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Types of income: Earned income, passive income, investment income, and self-employment income. (11:47)
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Common deductions and credits: Standard deduction, itemized deductions, tax credits, and education-related deductions and credits. (7:38)
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Taxable vs. non-taxable income: Identifying taxable income sources and categories of non-taxable income. (1:56)
Module 4: Understanding Tax Forms and Filing Process
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Overview of common tax forms: Form 1040, Form 1040A, Form 1040EZ, and various schedule forms. (6:53)
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Electronic filing and IRS resources: E-filing options and utilizing IRS online tools and resources. (5:08)
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Record keeping and documentation: Importance of accurate record keeping and necessary documentation for tax preparation. (2:39)
Module 5: Tax Planning and Strategies
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Year-round tax planning: Adjusting withholdings, estimated tax payments, and timing deductions and income. (6:30)
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Retirement planning and tax benefits: Retirement account options and tax advantages of retirement contributions. (5:40)
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Tax-efficient investments: Understanding capital gains and losses and tax implications of different investment vehicles. (5:59)
Module 6: Special Tax Situations
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Self-employment taxes: Reporting self-employment income and calculating self-employment tax (4:33)
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Taxation of rental income: Reporting rental income and expenses, depreciation, and deductions for rental properties. (4:07)
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Taxation of investments and dividends: Taxation of stocks, bonds, mutual funds, qualified dividends, and capital gains tax rates. (3:31)
Module 7: Tax Compliance and Ethics
