Personal Finance

Tax Basics for Individuals

Stop fearing tax season and start understanding your return

12 lessons4 modules9h 10m durationbeginner level

Instructor: StretchLearn Faculty

About this course

This course demystifies the U.S. individual income tax using real forms, current dollar figures, and step-by-step worked examples. You will learn to read a W-2 and 1099, choose between the standard and itemized deduction, claim the credits you are owed, and complete and file a Form 1040 accurately. By the end you will be able to file your own return or check a preparer's work with confidence.

Curriculum

Module 1: How Income Tax Actually Works3 lessons

The Big Picture: Gross Income to Tax OwedPreview45m
Tax Brackets and Your Real Rate🔒45m
Filing Status and Who Counts as a Dependent🔒45m

Module 2: Reading Your Income Documents3 lessons

The W-2: Decoding Your Wage Statement🔒45m
1099s and Other Income You Must Report🔒45m
Adjustments: The Deductions Anyone Can Take🔒45m

Module 3: Deductions and Credits That Save Real Money3 lessons

Standard vs Itemized: Running the Numbers🔒45m
Tax Credits: The Dollar-for-Dollar Discount🔒50m
Retirement and Health Accounts as Tax Tools🔒45m

Module 4: Filing, Withholding, and Dealing With the IRS3 lessons

Getting Withholding Right With Form W-4🔒45m
Filing Your Return Step by Step🔒50m
Notices, Audits, and Fixing Mistakes🔒45m