Oregon Basic Tax Course
Federal & Oregon Law
Prepare for Oregon's LTP Exam
Currently, Oregon is the only state in America where you must be licensed to prepare tax returns as a paid professional. Oregon's licensing laws are designed to protect consumers by ensuring tax professionals deliver competent and ethical services. To become licensed in Oregon an individual must:
- Successfully complete an approved Basic Tax Course which includes a minimum of 80 hours of instruction.
- Pass an exam administered by the Oregon Board of Tax Practitioners by achieving a score of 75% or higher.
- Submit a license application and pay a license fee.
Learn From the Best Tax School in Oregon
Pacific Northwest Tax School was formed in 2001 to provide quality tax education. From the beginning, our goal has been to provide an educational program that prepares students for Oregon's rigorous LTP exam and for the real world of professional tax preparation. We believe we have succeeding in creating the best tax school in Oregon. Since 2001 the overall pass-rate of our graduates at the Oregon LTP exam has been 20 - 40% higher than the pass-rates of other local and national schools. Our overall school pass-rates in the 2008 and 2009 exam cycles were 93% and 94%, respectively. Our pass-rate for the 2010 exam cycle was 88%.
The Basic Tax Course is suitable for beginner students who want to enter the tax preparation industry for the first time while offering more experienced tax professionals the opportunity to expand and build upon their existing knowledge base.
Qualified and knowledgeable tax preparers are hard to find. Tax preparers must achieve a level of knowledge necessary to pass federal or state exams, but more importantly they must be able to apply tax knowledge to the preparation of tax returns.
While most tax education programs offer little more than theoretical coverage of tax law, our Basic Tax Course provides in-depth education that extends beyond theory and into the mechanics of tax form preparation. Students are taught tax law, how to read tax reporting documents and how to complete tax forms.
The course provides 120 hours of education delivered through a carefully designed online learning management system. Course content includes 59 hours of lecture video, detailed student manuals, comprehensive tax return assignments and quizzes, and answer keys with references and explanations. Recommended completion time is 14 weeks.
Complete Course Syllabus Listed Below
| Session 1. | Filing Requirements • Extensions • Penalties • Standard Deduction • Filing Status • Decedents |
| Session 2. | Personal Exemptions • Dependency Rules for Qualifying Child & Qualifying Relative |
| Session 3. | Wages, Tips, Fringe Benefits & Other Earnings • Foreign Earned Income Exclusion • Interest & Dividend Income • Interpreting Forms 1099 INT and 1099 DIV • Preparation of Forms 4137 & Schedule B |
| Session 4. | FBAR & FATCA reporting requirements • Alimony Rules • Unemployment • Gambling • Foreign Earned Income Exclusion • Reporting K-1 Income • Preparation of Schedule E Page 2 & Form 2555 |
| Session 5. | Pension Income • Annuities • Simplified Method • Determining Taxability of Traditional and ROTH IRA Distributions • Preparation of Forms 5329, 8606 & the Simplified Method Worksheet |
| Session 6. | Social Security • Railroad Retirement Income • Preparation of Social Security Benefits Worksheets 1, 3 & 4 |
| Session 7. | Adjustments to Income - IRA’s • Student Loan Interest • HSA’s • Alimony • Preparation of Form 8889, 3903, 8606, IRA Deduction Worksheet, & 8917 |
| Session 8. | Itemized Deductions - Medical Expenses • Deductible Taxes • Interpreting Real Estate Purchase HUD Statements • Preparation of Schedule A & Sales Tax Deduction Worksheet |
| Session 9. | Itemized Deductions - Deductible Interest Expense • Charity • Interpreting Form 1098 and HUD statements • Preparation of Schedule A and Forms 4952 & 8283 |
| Session 10. | Itemized Deductions - Unreimbursed Employee Expenses • Accountable vs. Nonaccountable Plans • Preparation of Form 2106 |
| Session 11. | Itemized Deductions – Nonbusiness Casualty & Theft Losses • Other Miscellaneous Deductions • Alternative Minimum Tax • Preparation of Form 4684 |
| Session 12. | Credits for Individuals – Foreign Tax • Education • Retirement Savings • Energy • Prior Year Minimum Tax • Excess Social Security Withholdings • Mortgage Interest • First Time Homebuyer • Preparation of Forms 8863, 8880, 5695 & 8936 |
| Session 13. | Credits for Families - Child & Dependent Care • EIC • Child Tax Credit • Adoption Credit • Preparation of Forms 2441, EIC, 8862, 8812 & 8839 |
| Mid-Term Exams | |
| Session 14. | Basis of Assets – How to determine cost basis in purchased, gifted and inherited property • Determining basis in incentive stock options, ESPPs and RSUs including how to interpreting Forms 3922, Advice of Sale Statements & W-2s • Use of Internet to Help Determine Basis of Certain Stock |
| Session 15. | Depreciation & Amortization Part 1 – Identifying tangible and intangible property • Definitions • MACRS and ADS Methods • Conventions • Recovery Periods • Section 179 Deduction • Bonus Depreciation • Limits on Automobiles • Listed Property |
| Session 16. | Depreciation & Amortization Part 2 –Inclusion Amounts • Classification of Property • Start-Up & Organizational Costs • Preparation of Depreciation Schedules and Form 4562 |
| Session 17. | Sales and Other Dispositions of Property • Determining Holding Period • Determining Recapture Amounts • Figuring Gain or Loss • Publicly Traded Partnerships • Interpreting Form 1099 B Brokerage Statements • Preparation of Schedule D and Forms 4797, 8949, 8938, TD F 90-22.1, 8594, Unrecaptured Section 1250 Gain Worksheet & Capital Gain Worksheet |
| Session 18. | Selling Your Home • Recapture of Depreciation • Installment Sale Income • Like Kind Exchanges • Preparation of Forms 5405, 6252, 4797, Schedule D, & 8824 |
| Session 19. | Rental Income & Passive Activity Loss Limits • Definitions • Determining Rental and Personal Use • Form 4835 (Farm Rental Income) • Material Participation Rules and Figuring Allowable Loss Under Passive Activity Loss and At-Risk Limits • Completing Schedule E Pages 1&2, Forms 8582 & 6198 |
| Session 20. | Self-Employment Income & Expenses Part 1 - Form 1099 Misc Reporting Rules • 1099- K • CP2100 Notice • Business Use of Automobile • Travel, Meal & Entertainment Expenses • Gifts • Line-By-Line Instructions for Schedule C |
| Session 21. | Small Business & Farm Income Part 2 - SE Taxes • Business Use of Home • Domestic Production Activities Deduction • Payroll Reporting Rules • Self-Employment Tax • Net Operating Loss Rules • Record Keeping Requirements • Farm Income • Preparation of Schedules C, SE, Form 8829 & 8903 |
| Session 22. | SE Tax • Social Security and Medicare Taxes On Unreported Tip Income • Rules Affecting Who Incorrectly Receive Form 1099 Misc. From Their Employers • Additional Taxes Owed on Early Distributions From Retirement Accounts • Household Employment Taxes • Estimated Taxes • Amended Returns • Kiddie Tax Rules • Parent’s Election to Report Child’s Interest & Dividend Income • Innocent and Injured Spouse Rules • Installment Agreements • Underpayment of Estimated Tax •Preparation of Forms 8919, SS-8, Schedule H, 5405, 8888, 8379, 9465, 8857, 2210, 8821, 1040X, 8814 & 8615 |
| Session 23. | IRS Ethics Rules Governing CPAs, EAs, and RTRPs • IRS E-File Requirements |
| Session 24. | Oregon Filing Requirements & Status Penalties Extensions |
| Session 25. | Oregon Additions and Subtractions |
| Session 26. | Oregon Credits |
| Session 27. | Oregon Part-year and Nonresident Returns |
| Session 28. | Oregon Ethics • Administrative Rules • Amended Returns |
| Final Exams | |
Topics Covered
- Session 0 - Introduction
- Introduction to the Basic Tax Course
- Session 1 - Filing Requirements
- Filing Requirements
- Extensions
- The Standard Deduction
- Session 2 - Filing Status
- Filing Status
- Decedents
- Personal Exemptions
- Dependents
- Session 3 - Wages Tips & Other Earnings / Interest and Dividend Income
- Wages & Other Earnings
- Taxable Refunds
- Alimony
- Unemployment
- Session 4 - Other Income
- FBAR & FATCA Reporting Requirements
- Taxable Refunds
- Alimony
- Unemployment Compensation
- Gambling Winnings
- Foreign Earned Income Exclusion
- Session 5 - Pension Income
- Retirement Plans
- Pensions
- Annuities
- Session 6 - Social Security
- Social Security and Railroad Retirement
- Session 7 - Adjustments to Income
- Educator Expenses
- Business Expenses of Reservists, Performing Artists & Fee-Basis Government Officials
- Health Savings Accounts
- Moving Expenses
- Deductible Portion of Self-Employment Tax
- Self-Employed Health Insurance Deduction
- Penalty on Early Withdrawal of Savings
- Alimony
- IRA Deduction
- Student Loan Interest Deduction
- Tuition & Fees Deduction
- Session 8 - Itemized Deductions - Medical & Taxes
- ITEMIZED DEDUCTIONS:
- Medical and Dental Expenses
- Deductible Taxes
- Session 9 - Itemized Deductions (Interest Expense and Charitable Contributions)
- ITEMIZED DEDUCTIONS:
- Interest Expense
- Charitable Contributions
- Session 10 - Itemized Deductions (Unreimbursed Employee Expenses)
- MISCELLANEOUS DEDUCTIONS:
- Unreimbursed Employee Expenses
- Office in the Home
- Work Related Education Expenses
- Session 11 - Itemized Deductions (Casualty Losses and Miscellaneous Deductions)
- MISCELLANEOUS DEDUCTIONS:
- Nonbusiness Casualty & Theft Losses
- Miscellaneous Deductions
- Alternative Minimum Tax
- Session 12 - Federal Credits for Individuals
- NONREFUNDABLE CREDITS:
- Foreign Tax Credit
- Education Credits
- Retirement Savings Contribution Credit
- Residential Energy Credits
- Credit for Prior year Minimum Tax
- Alternative Motor Vehicle Credit
- Credit for the Elderly or the Disabled
- Mortgage Interest Credit
- REFUNDABLE CREDITS:
- American Opportunity Credit
- First Time Homebuyer Credit (Military Personnel Only)
- Credit for Excess Social Security Tax Paid
- Session 13 - Federal Credits for Families with Children
- NONREFUNDABLE CREDITS:
- Child and Dependent Care Credit
- Child Tax Credit
- REFUNDABLE CREDITS:
- Earned Income Credit
- Additional Child Tax Credit
- Adoption Credit
- Session 13.5 - Basic Tax Course - Part 1 Wrap Up
- Session 13 Homework Review
- Session 13 Quiz
- Session 13 Quiz Review
- Open Book Midterm Introduction
- Session 13.75 - Open Book Midterm
- Open Book Midterm Exam Problem & Test
- Session 13.8 - Open Book Midterm Answer Key
- Open Book Midterm Answer Key
- Closed Book Midterm Exam Password Test
- Session 14 - Basis of Assets
- Basis of Assets
- Session 15 - Depreciation & Amortization - Part 1
- Depreciation
- Amortization
- Session 16 - Depreciation & Amortization - Part 2
- Depreciation
- Session 17 - Sales and Other Dispositions of Property
- Sale of Capital Assets
- Sale of Business Assets
- Session 18 - Selling Your Home / Installment Sale Income
- Sale of Home
- Installment Sales
- Like Kind Exchanges
- Session 19 - Rental Income Schedule E and Form 4835 for Farm
- Rental Income
- Passive Activity Limits
- Session 20 - Small Business & Farm Income, SE Taxes, Business Credits
- Small Business Income & Expenses
- Domestic Activities Production Deduction
- Farm Income
- Self Employment Tax and Payroll Tax
- Session 21 - Small Business Income Continued
- Small Business Income & Expenses
- Domestic Activities Production Deduction
- Farm Income
- Self Employment Tax and Payroll Taxes
- Session 22 - Other Taxes, Estimated Taxes, Amended Returns
- Amended Returns
- Kiddie Tax
- Penalties
- Session 23 - IRS Ethics
- Circular 230
- Session 24 - Welcome to Oregon - Filing Status & Filing Requirements
- Welcome to Oregon
- Filing Status and Filing Requirements
- Session 24.5 - Homework Answer Key
- Homework Answer Key
- Session 25 - Welcome to Oregon - Subtractions & Deductions
- Welcome to Oregon
- Subtractions & Deductions
- Session 25.5 - Homework Answer Key
- Homework Answer Key
- Session 26 - Welcome to Oregon - Credits
- Welcome to Oregon
- Credits
- Session 26.5 - Homework Answer Key
- Homework Answer Key
- Session 27 - Welcome to Oregon - Part Year Non-Resident
- Welcome to Oregon
- Part Year
- Non-Resident
- Session 27.5 - Homework Answer Key
- Homework Answer Key
- Session 28 - Welcome to Oregon - Ethics
- Welcome to Oregon
- Ethics
- Session 28.5 - Quiz Answer Key
- Quiz Answer Key
- Session 29 - Open Book Final Exam - Kris Kringle
- Open Book Final Exam
- Session 29.5 - Open Book Final Exam Answer Key
- Open Book Final Exam Answer Key
- Session 30 - Practice Closed Book Final Exam
- Practice Closed Book Final Exam
Any Time, Anywhere
Our Online Learning Management System offers you the flexibility to study at your own pace while still enjoying many of the benefits of a live classroom.
- Watch lecture video recordings of live instructor-led classes.
- Break to complete classwork and quiz assignments as instructed.
- If you have a question or need help understanding your assignments, use our Q&A forum to post questions and receive answers from your instructor.
- Use our LMS Chat Room to chat with fellow students about lesson materials and assignments.
- Complete assignments and tests then submit your answers online.
Advance Preparation Required
Our Learning Management System education platform requires an up-to-date Adobe Flash® Player and use of a high-speed Internet connection. To ensure your learning experience is worthwhile and productive we ask all students to take the time to become familiar with our education platforms before attending class.
Recommended Minimum Requirements
The following requirements are recommended for using our LMS site. Few students have reported success while operating outside of these requirements, therefore these are provided as a guideline for troubleshooting if you are having difficulties viewing or operating in our LMS site.
| Operating System: |
*Your operating system should be fully updated. |
| Browser: |
If you encounter log in or video viewing difficulties, we strongly recommend you install Mozilla Firefox. |
| Connection: |
Broadband (512 Kbps+) |
| Browser Plug-Ins: | The latest of the following:
|
| Peripherals: |
Headphones and/or Speakers |
Disclosures and School Policies
Terms of Enrollment
Pacific Northwest Tax School's course materials and teaching techniques are valuable proprietary information of Pacific Northwest Tax School, and all such information is subject to copyright, including written, recorded, internet based as well as all other electronic media.Each Student agrees that she/he will use the information only for purposes of education and training; and as a condition of enrollment, that they will not to disseminate the information to any third party and will treat the materials as confidential information of Pacific Northwest Tax School.As a condition of enrollment, Students pledge not use any information in any competitive fashion, including to create or derive competitive materials. Students further agree that any breach of these terms and conditions shall cause the school irreparable harm, entitling Pacific Northwest Tax School to injunctive relief, as well as any other remedy that may be available at law or equity. Students shall have six months from date of enrollment in any course, to complete the course and receive their Certificate of Completion.
Basic Tax Law
Students taking any Basic Tax Law course, agree to comply with all Terms of Enrollment outlined the enrollment agreement form for that course, which can be found in the Introductory Session (Session 0) of each course.
Prerequisites & Advance Preparation
Students intending to write the Oregon State Tax Exam, must be at least 18 years of age, and have High School Diploma or GED. Students using our self-paced internet based program should prepare for classes by downloading and printing course materials. For more information including detailed course descriptions and learning objectives, view the lesson plans of each course, located on Pacific Northwest Tax School's website at:
Cancellations/Refunds
Continuing professional education courses including interactive, non-interactive and correspondence program fees are non-refundable and non-transferable. Webinars/Webcasts are non-transferable and in most cases non-refundable. A student may choose to be switched to another Webinar/Webcast of equal or lesser value if a conflict with the scheduled time exists. In the case of a missed Webinar/Webcast a request to transfer to a new Webinar/Webcast must be made with 48 hours of when the Webinar/Webcast aired. Refunds will be issued ONLY prior to the start of the Webinar/Webcast. A $15.00 processing fee will be withheld from all refund amounts. For more information regarding administration policies including complaints and refunds, please contact our offices at 503-646-5600.
Problem Resolution
Pacific Northwest Tax School gives the highest priority to delivering quality education programs.If you have concerns about our programs please contact the Pacific Northwest Tax School Education Coordinator at: supportoc@pnwtaxschool.com
Disclaimer
Manuals distributed and programs sponsored by Pacific Northwest Tax School are designed to teach application of tax laws. Pacific Northwest Tax School works to provide accurate and timely material to students, however the school does not have any responsibility if human and/or mechanical error exists.Accordingly, no assurance is given by Pacific Northwest Tax School that such information is totally comprehensive or accurate in its coverage of such subject matter. Information published or sponsored by Pacific Northwest Tax School should not be relied upon as a substitute for independent research to original sources of authority such as the Internal Revenue Code, IRS Publications and Internal Revenue Rulings. Pacific Northwest Tax School, its authors, and instructors do not render legal, accounting, or other non-educational professional advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought. Credit hours are subject to change without notice.
