University of Illinois Urbana-Champaign
U.S. Federal Taxation Specialization
University of Illinois Urbana-Champaign

U.S. Federal Taxation Specialization

U.S. Federal Taxation of Individuals & Businesses. Learners will develop knowledge in U.S. federal taxation as applied to individuals and businesses.

Michael P Donohoe, PhD, CPA
Matthew Hutchens

Instructors: Michael P Donohoe, PhD, CPA

22,473 already enrolled

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4.8

(721 reviews)

Intermediate level
Some related experience required
3 months
at 10 hours a week
Flexible schedule
Learn at your own pace
Get in-depth knowledge of a subject
4.8

(721 reviews)

Intermediate level
Some related experience required
3 months
at 10 hours a week
Flexible schedule
Learn at your own pace

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Specialization - 4 course series

What you'll learn

  • Identify relevant sources of tax law.

  • Compute an individual’s federal taxable income and tax liability.

  • Identify differences in tax-preferred retirement vehicles.

  • Complete a basic US federal tax return.

Skills you'll gain

Category: Tax Deduction
Category: Form 1040 Preparation
Category: Individual Taxation
Category: U.S. Federal Tax
Category: Tax Deductions
Category: Self-Employment Tax

What you'll learn

  • Identify classifications, conventions, and limitations used in the cost recovery of assets.

  • Calculate the depreciation of tangible assets, amortization of intangible assets, and depletion of natural resources.

  • Distinguish between realized gains and losses versus recognized gains and losses.

  • Compute the netting of gains and losses for ordinary items, Section 1231 assets, and short-term or long-term capital transactions.

Skills you'll gain

Category: Depreciation
Category: Amortization
Category: Capital Gains and Losses
Category: Property Taxation
Category: Nontaxable Exchanges

Taxation of Business Entities I: Corporations

Course 324 hours4.7 (229 ratings)

What you'll learn

  • Evaluate the tax treatment of different organizational forms.

  • Compare and contrast the taxation of individuals and corporations.

  • Calculate the corporate income tax.

  • Determine the tax effects of incorporation, corporate distributions to shareholders, complete corporate liquidations, and corporate reorganizations.

Skills you'll gain

Category: Business Analysis
Category: Federal Income Tax
Category: Tax Accounting
Category: IRS Regulations
Category: Corporate Tax

Taxation of Business Entities II: Pass-Through Entities

Course 433 hours4.8 (83 ratings)

What you'll learn

  • Determine the tax effects of forming a partnership, partnership distributions, and partnership terminations.

  • Distinguish between the types of entities treated as partnerships for tax purposes.

  • Apply partnership tax provisions to limited liability companies and limited liability partnerships.

  • Identify corporations that qualify for the Subchapter S election.

Skills you'll gain

Category: Business Analysis
Category: Federal Income Tax
Category: Tax Accounting
Category: IRS Regulations
Category: Pass-Through Entity Taxation

Instructors

Michael P Donohoe, PhD, CPA
University of Illinois Urbana-Champaign
2 Courses17,414 learners

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Build toward a degree

This Specialization is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹

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