2019 Tax Law
IRS (Federal Tax Law): 16 Hours
Oregon Tax Board: 16 Hours
Reporting Capital Gains and Losses – 2019 Law – Self-Study – Videos
Basis of Assets – 2019 Law – Self-Study – Videos
Investment and Pass-Through Income Reporting Requirements (Including FBAR and FATCA) – 2019 Law – Self-Study – Videos
Wage Reporting, Fringe Benefits, Other Income and the Foreign Earned Income Exclusion – 2019 Law – Self-Study – Videos
This package is a series of courses, covering the taxability of income and how to determine/report gains and losses on the sale of assets. It begins with our Wage Reporting, Fringe Benefits, Other Income and the Foreign Earned Income Exclusion course, which covers the taxability of wage, tip, fringe benefit, and foreign income, while also providing an overview of various forms of other income. Investment and Pass-Through Income Reporting Requirements (Including FBAR and FATCA) covers investment income, income that passes through on Form K-1, and investments held outside the U.S. The package continues with Basis of Assets, which covers the rules for determining the basis of assets for calculating gain or loss upon sale. The final two courses are Sale of Business Property and Reporting Capital Gains and Losses, which cover reporting requirements for dispositions of capital assets on Schedule D and individual transaction reporting on Form 8949. We also provide a close-up look at how to report dispositions of business-use assets on Form 4797.
By the conclusion of these courses, the student should be able to:
- Explain the meaning of “basis of property”
- Calculate the basis in property you own
- Calculate the adjusted basis in property you own
- Calculate the cost basis of stock you own
- Distinguish between capital and non-capital assets
- Explain how certain assets may have dual basis due to different treatment under the alternative minimum tax
- Identify the types of income that are reportable as wages, salaries and tips
- Distinguish between an employee and an independent contractor
- Calculate social security and Medicare tax owed on unreported tips
- Identify taxable alimony
- Determine where and how to report unemployment benefits, gambling winnings, canceled debt and various other forms of income
- Identify types of taxable and non-taxable income
- Explain the Foreign Earned Income Exclusion
- Identify who can take the Foreign Earned Income Exclusion
- Distinguish between a sale and a trade
- Explain special rules for sales between related parties
- Distinguish between a capital and non-capital asset
- Evaluate information to determine the holding period for capital assets
- Evaluate whether you have a taxable sale or trade
- Interpret information provided on 1099-B tax reporting documents
- Determine basis adjustments for reporting stock sales by employees where basis is increased by amounts included on Form W-2
- Prepare Form 8949 and Schedule D
- Identify where and how to report interest and dividend income
- Describe filing requirements for Schedule B, Interest and Ordinary Dividends
- Distinguish between FBAR and FATCA reporting requirements with respect to overseas investments
- Complete Form 8938 Statement of Specified Foreign Financial Assets
- Complete Form FinCEN 114 Report of Foreign Bank and Financial Accounts
- Describe requirements for the Offshore Voluntary Disclosure Program with respect to undisclosed foreign financial assets
- Complete Form 14654 Certification by U.S. Person Residing in the United States for Streamlined Domestic Offshore Procedures
- Interpret income and deduction items shown on a Schedules K-1 issued by a partnership, S corporation or fiduciary flier
- Complete Schedule E Page 2, to report pass-through income reported on Schedule K-1
- Distinguish between a capital and a non-capital asset
- Evaluate where and when to report sales of business assets on Form 4797
- Use Form 4797 to report disposition of business-use assets
- Evaluate whether like-kind exchange rules apply to the sale/purchase of business assets
- Describe how to figure the depreciation adjustment for the sale of a vehicle where the standard mileage rate was claimed
- Calculate ordinary and capital gain income on the sale of publicly traded partnership units
- Determine the amount of passive activity loss that will be treated as a non-passive loss on sale of an interest in a publicly traded partnership.
2019 Tax Law
|IRS (Federal Tax Law)||16 Hours|
|Oregon Tax Board||16 Hours|
Field of Study
Basic tax knowledge
Meet Your Instructor
April Gutierrez is an Enrolled Agent with more than 25 years of experience owning and operating a multi-office tax preparation firm. She has been writing and teaching tax law since 2001, with thousands of tax professionals completing her education programs annually.
Known for her entertaining speaking style and ability to make a complex subject easy to understand, April is frequently invited to speak to business groups and news media on tax-related topics. She has a B.A. in Communication Studies from Murdoch University in Perth, Australia. She obtained her Oregon LTC in 1995.
How does this tax course work?
This course is divided into separate lessons – completed at your own pace – which means YOU CHOOSE how quickly to work through the program. Each lesson takes you through the important topics you need to know. The lesson training guides are in video and manual format, which reinforce the way you learn. Our Q & A forums are a valuable place to get your questions answered on the related topics.
Your Tax Course Includes
Step-By-Step Tax Lessons
Experience with Tax Forms
Q & A Forum
Frequently asked Questions
When does the course start and finish?
How long do I have access to the course?
Can I have a face to face meeting with the Instructor?
Does this course have any certificates?
Any Time, Anywhere
Our online Learning Management System (LMS), 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.
- Complete assignments and tests, then submit your answers online.
Advance Preparation Required
Our site requires 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 site before attending class.
Recommended Minimum Requirements
The following requirements are recommended for using this 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 this site.
*Your operating system should be fully updated.
If you encounter log in or video viewing difficulties, we strongly recommend you install Google Chrome.
|Connection:||Broadband (512 Kbps+). Mobile hotspots are NOT recommended.|
|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 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 taking continuing education courses shall have twelve months from date of enrollment to successfully complete the course and receive their Certificate of Completion. Students taking the federal only portion or the Oregon 80 Hour Basic Tax Course students have nine months from the date of enrollment to sucessfully complete the course.
Basic Tax Law
Students taking any Basic Tax Law course agree to comply with all Terms of Enrollment outlined in the enrollment agreement form for that course, a link to which can be found on each Basic Tax course page.
Prerequisites & Advance Preparation
Students intending to take the Oregon State Tax Exam, must be at least 18 years of age, and have a High School Diploma or GED. Students using our self-paced internet-based program should prepare for classes by downloading and printing course materials.
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.
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: email@example.com
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.