Question

Identify at least two (2) concepts that were reviewed in this course that were the most...

Identify at least two (2) concepts that were reviewed in this course that were the most beneficial to you. As a result of taking this course, determine whether or not you feel confident in preparing a personal income return as a paid tax preparer.

Indicate how these two (2) new concepts of knowledge identified in the previous discussion will benefit you in your current job or future career / endeavors

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Answer #1

The two concepts I found most benificial are of tax credits allowed by IRS and adjustments in Form 1040 like of moving expenses, self employment etc.

Yes, I feel confident.

One of the most less and wrongly used credit is the Earned Income Credit which helps low household income in reducing the tax burden and get refund from the government. The course helped in understanding the Earned Income Credit and many other credits like Child Tax Credit and Education Credit which would provide opportunities to practice preparing returns and create loyal client base of low income individuals. Starting from the scracth with low profit clients will be helpful in creating a name among masses and also give work experience of the expertise in individual tax returns.

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