What is taxation, and why is it important to learn about?

Taxation is the imposition of levies on individuals as well as businesses and corporations by governments. The revenues raised by taxes are used to fund public services, law enforcement and national defense, social welfare and healthcare, and other important government expenditures. In addition to being important for society, taxation is extremely important for businesses to understand, as various sales and corporate income taxes can have a significant impact on the bottom line of any company. Because paying taxes has a major impact on both government and business revenues, submitting accurate federal tax returns are a legal requirement as well as a requirement for the financial statements that public companies must disclose to investors. Thus, businesses typically hire accountants with expertise in tax law, accounting terminology, and the application of Generally Accepted Accounting Principles (GAAP) to all the details of a company’s tax returns, including tax deductions, depreciation of assets, and business expenses.

What kinds of careers can I have with a background in taxation?

Almost all companies, from sole proprietors to multinational corporations, rely on accountants to ensure that their taxes are paid properly and on time. These experts on taxation are responsible for examining financial statements, calculating taxes owed, and preparing and submitting state and federal tax returns that are accurate. Large companies may have full-time, in-house accountants to manage their financial statements and taxation, but many companies hire certified public accountants (CPA) who work at accounting firms. Regardless of who you work for, if you are fluent in accounting terminology, the Generally Accepted Accounting Principles (GAAP), and other key areas of accounting expertise, you will have an in-demand and well-paid career. According to the Bureau of Labor Statistics , accountants earned a median annual salary of $71,550 in May 2019, and these jobs will grow as fast as the average across the rest of the economy since they are generally tied to growth in the businesses that rely on them.

Can I learn about taxation by taking online courses on Coursera?

Yes! Coursera offers a wide range of courses on a variety of business topics, including in-depth courses and Specializations spanning multiple courses about taxation. You can learn remotely about corporate tax law, financial reporting, taxes for sole proprietors and individuals, taxation impacts on strategic business management, and other important subjects in this field. And, because you can learn from leading business schools for accounting including the Gies College of Business at the University of Illinois at Urbana-Champaign as well as the Wharton School of University of Pennsylvania, you don’t have to sacrifice the quality of your education to learn online with Coursera.

What kind of people are best suited for roles in taxation?

People with good analytical skills and who are good with numbers are typically best suited to roles in taxation. Since taxation revolves heavily around numbers and laws, people who are good at math and who have a grasp of basic legal terminology can often be well suited for taxation roles. People who are precise and have an eye for fine details tend to excel at these roles. In addition, people with good time management skills and who are highly organized can generally do well in taxation positions. It can also be useful to have good communication skills and a knack for problem-solving.

What are common career paths for someone in taxation?

Common career paths for people in taxation can typically include working for the government, performing tax accounting for accounting firms, and offering managerial accounting for businesses. In government jobs, people working in taxation can perform tasks like reviewing tax returns and communicating with tax filers. In accounting firms, taxation professionals can work with people and companies at tax-filing time as well as with companies on a year-round basis to help organizations ensure compliance with tax laws. In business settings, managerial accountants can manage taxation matters for the company with a goal of keeping tax debt low and ensuring legal compliance.

What topics can I study that are related to taxation?

Topics you can study that are related to taxation include international tax law if you’re working in global business. Contract law and business entities are other topics you could study that are related to taxation. Additionally, you could study financial planning or learn about land transfers in coordination with your taxation studies.

What types of places hire people with a background in taxation?

Agencies that prepare taxes for people and individuals typically hire people who have a background in taxation. Some of the job titles for these jobs include tax preparer, tax associate, and tax professional. City, state, and federal agencies can hire people in taxation roles to handle tax payments from citizens and corporations. These agencies can also add taxation workers to assist taxpayers who have questions about taxes that are owed. Additionally, retail facilities can hire taxation professionals to handle sales tax and to manage things like depreciation of assets and payroll taxes.

What are the benefits of taking an online Taxation course?

Online Taxation courses offer a convenient and flexible way to enhance your knowledge or learn new Taxation skills. Choose from a wide range of Taxation courses offered by top universities and industry leaders tailored to various skill levels.

What Taxation courses are best for training and upskilling employees or the workforce?

When looking to enhance your workforce's skills in Taxation, it's crucial to select a course that aligns with their current abilities and learning objectives. Our Skills Dashboard is an invaluable tool for identifying skill gaps and choosing the most appropriate course for effective upskilling. For a comprehensive understanding of how our courses can benefit your employees, explore the enterprise solutions we offer. Discover more about our tailored programs at Coursera for Business here .

Top Taxation Courses - Learn Taxation Online

University of Illinois Urbana-Champaign

U.S. Federal Taxation

Skills you'll gain: Corporate Tax, Income Tax, Partnership Accounting, Tax Laws, Tax Returns, Tax Compliance, Depreciation, Tax Preparation, Liquidation, Property Accounting, Payroll Tax, Tax Planning, Corporate Finance, Tax, Payroll, Real Estate Transactions, Specialized Accounting, Strategic Decision-Making, Organizational Structure, Expense Management

University of Illinois Urbana-Champaign

Multistate Taxation

Skills you'll gain: Tax Planning, Corporate Tax, Income Tax, Tax Laws, Tax, Sales Tax, Tax Compliance, Property Accounting, Regulation and Legal Compliance

PwC India

PwC GST Taxation Executive

Skills you'll gain: Accounting Records, Tax Returns, Invoicing, Reconciliation, Tax Compliance, Auditing, Accounting, Sales Tax, Key Performance Indicators (KPIs), Compliance Management, Billing, Tax Laws, Tax, Record Keeping, Document Management, Records Management, Compliance Reporting, Compliance Auditing, Performance Reporting, Governance Risk Management and Compliance

University of Illinois Urbana-Champaign

Federal Taxation I: Individuals, Employees, and Sole Proprietors

Skills you'll gain: Income Tax, Tax Returns, Tax Preparation, Payroll Tax, Tax Laws, Payroll, Expense Management, Depreciation, Business Valuation

Automatic Data Processing, Inc. (ADP)

Payroll and Tax Fundamentals

Skills you'll gain: Payroll, Payroll Reporting, Payroll Processing, Payroll Administration, Payroll Tax, Labor Law, Labor Compliance, Income Tax, Compensation and Benefits, Tax, Tax Compliance, Employee Onboarding

Status: Free

Coursera Instructor Network

Financial Reporting: Ledgers, Taxes, Auditing Best Practices

Skills you'll gain: Tax Planning, Auditing, Tax Compliance, Financial Auditing, Financial Reporting, General Ledger, Bookkeeping, Tax, Standard Accounting Practices, Compliance Management, Regulatory Compliance, Accounting, Financial Controls, Reconciliation, Record Keeping

University of Illinois Urbana-Champaign

Taxation of Business Entities I: Corporations

Skills you'll gain: Corporate Tax, Income Tax, Tax Laws, Liquidation, Tax Planning, Tax Compliance, Corporate Finance, Mergers & Acquisitions, Capital Expenditure, Organizational Structure, Depreciation

University of Illinois Urbana-Champaign

U.S. Taxation of International Transactions

Skills you'll gain: Tax Laws, Corporate Tax, Tax, Tax Planning, International Finance, Income Tax, Tax Compliance

Universiteit Leiden

Taxation of Multinationals for Everyone

Skills you'll gain: Corporate Tax, Tax Planning, Tax Laws, Tax, Tax Compliance, International Finance, Governance, Public Policies

Tally Education and Distribution Services Private Limited

Basics of Statutory Compliance and Taxation

Skills you'll gain: Sales Tax, Accounting Software, Tax Returns, Data Import/Export, Tax, Tax Compliance, Bookkeeping, Billing & Invoicing, Payroll Tax, Income Tax, Accounting, Data Management, Accounting Records, Financial Data, Financial Reporting

University of Illinois Urbana-Champaign

Taxation of Business Entities II: Pass-Through Entities

Skills you'll gain: Partnership Accounting, Tax Compliance, Income Tax, Corporate Tax, Tax Laws, Tax, Strategic Decision-Making, Organizational Structure, Ethical Standards And Conduct

University of Illinois Urbana-Champaign

Federal Taxation II: Property Transactions of Business Owners and Shareholders

Skills you'll gain: Depreciation, Property Accounting, Tax Laws, Income Tax, Corporate Tax, Tax Compliance, Real Estate Transactions, Specialized Accounting, Capital Expenditure, Investments

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