Individual Income Taxation
Understanding Individual Income Taxation topics with full length lecture videos.
The tax law can be complicated, no doubt about it. This course is all about taking all of the complex items and trying to drill it down to specific small bites. A majority of these videos are under 15 minutes so that you can review them at your own leisure or fill-in the gaps in your knowledge of the tax law. With about 156 videos, you might not have time to watch them all, but if you don't understand how to calculate taxes, then just watch that video and skip the rest. T
All 156 videos for each section are available now. This course was updated as of 4/1/2019. Content will be updated for the 2020 Tax Preparation season around February 1, 2020.
Section 1 - Introduction to Taxation
Section 2 - Expanded Tax Formula - The guide to the 1040
Section 3 - Gross Income
Section 4 - Adjustments for AGI
Section 5 - Itemized Deductions
Section 6 - Self-Employed Business Income
Section 7 - Capital Gains and Other Sale of Property
Section 8 - Rental Properties, Royalties, and other Passive Income
Section 9 - Tax Credits
Section 10 - Retirement and Other Tax Deductions
Section 11 - Special Property Transactions
Section 12 - At-Risk - Passive Activity Losses
Why you should buy this course?
In 2015, I started a YouTube Channel where I posted lecture videos of my classes, then in 2016, I started to record lectures from my home studio where I focus on delivery rather than a classroom. With over 220,000 views on YouTube and over 2,300 subscribers, the videos I provide in this course are made to help you succeed in your accounting course. When this course launches fully, you will have over 150 individual lessons with many of them under 10 minutes long.
Can I watch a few lessons before purchasing?
Absolutely, in the first 5 sections of this course, 1 video has been offered free of charge for you to review the course content and how the course it designed. Take all the time you need, but you won't be able to access the other 150 or so videos until you purchase the course.
How is this different than watching a video on YouTube?
A unique part of my teaching technique is how I present the material. You will find little slide deck videos. A slide deck video is where the video content creator simply records their voice over their slide deck and creates a video this way. Although this can be an effective way of delivering content, we have found that students really love watching my videos and watch me point at specific things on the board when I talk about a certain point. In 2017, I've upgraded to an higher resolution HD camera, a better quality video editor, and better audio so you can enjoy the lesson and get all of the material I throw at you. It's worth it. FYI, due to the nature of this class, there will be some slide deck videos in order to help you understand the actual tax form.
Is this a one semester course or two?
This course is a no due date course. Unless we take it off our website or make it offline, you'll have forever access to it as long as you are a subscriber. However, you're probably talking about in relation to your class. This course is similar in nature to a one semester individual tax class.
Can CPA candidates use this course to study for the CPA Exam?
Over the past few years, I have seen many more individuals who are CPA Exam Candidates use these lecture as a way to supplement their studies as they prepare for the CPA Exam. Although this course is NOT a CPA Review Course, it is a good supplement to the CPA Exam Review and we would highly suggest you use this in conjunction with other CPA Exam Review materials. Many students will use this course as a reference site. If they still don't understand something, they just come on and watch the lecture that most clearly identifies what they are trying to study.
Do you have any more courses like this?
Yes! Intermediate Accounting and Advanced Accounting.
How long is your lecture videos?
A vast majority of the lectures are less than 10 minutes in length. Some are as long as 20 + minutes, but this is due to the complexity of the issue or the need to cover it in one sitting rather than multiple sittings.
Patrick is an Assistant Professor of Accounting at a small private institution. Since 2013, Patrick has taught undergraduate accounting ranging from fundamental courses to advanced level upper division courses. He routinely received very positive feedback at the end of the course from his students and peers. Since 2016, Patrick has garnered over 295,00 YouTube Channel views and over 3,500 subscribers. Named to the CPA Practice Advisor's 40 under 40 Accounting Professionals to lead the accounting profession into the future, Patrick has won numerous awards and accolades as faculty member and an accounting professional. For more information on Patrick, please visit him at www.patrickleemsa.com.
Patrick graduated from the University of La Verne's College of Business and Public Management with a Bachelor of Science in Accounting and an Emphasis in Management. After graduating from La Verne, Patrick started his accounting career at Deloitte & Touche, LLP as a staff auditor in the Real Estate and Manufacturing sectors. During that time, Patrick passed the Certified Public Accountants Exam in 9 months during busy season at Deloitte. Patrick was issued his CPA license from the California Board of Accountancy.
After obtaining his CPA license, Patrick started his accounting firm with other business partners in Southern California. His specialty at the accounting firm he owned was small business accounting and tax work. During the five years as an accounting firm owner, he managed to grow the firm at an annual rate of 15 - 20%. After selling his firm in 2014, Patrick went into teaching as an Assistant Professor of Accounting.
Patrick has numerous accolades to his resume including:
- 2016 CPA Practice Advisor's 40 under 40 Accounting Professionals who are helping lead the profession into the future
- 2016 Charles H. and Verda R. Kopke Award for Distinguished Teaching
- 2016 Kansas Independent College Association Faculty of Distinction
- 2015 Fassnacht Outstanding Faculty Award
- 2014 Edith Olmstead Award
An important part of being a business faculty is keeping one's hand in the business world. As such, Patrick is the owner of RaceTimerz, LLC (www.racetimerz.com), an event timing company serving the Midwest (Kansas, Oklahoma, Nebraska, and Missouri). RaceTimerz has been profitable ever since the first year of operations and his clients have depended on his services each year. RaceTimerz's success is credited to Patrick's leadership skills as well as living the mission of providing affordable, professional, and unique timing services to their clients.
Patrick sits on the Kansas Society of CPAs Board of Directors and represents the American Institute of Certified Public Accountants at diversity events throughout the United States.
For more information on booking Patrick as a keynote or guest speaker, please contact [email protected]
PreviewLesson 1.1 - History of Taxation (12:50)
StartLesson 1.2 - Calculating Taxes Intro (10:11)
StartLesson 1.3 - Tax Rate Structure (6:09)
StartLesson 1.4 - Calculating Taxes - Progressive Tax Rate (8:45)
StartLesson 1.5 - Marginal and Average Tax Rate Structure (13:18)
StartLecture 1.6 - Basic Income Tax Formula (6:39)
StartLesson 1.7 - Form 1040 Walk Through (16:07)
StartLesson 1.8 - Healthcare Tax (12:49)
StartLesson 1.9 - Understanding Tax Payments (8:33)
StartLesson 1.10 - Example Work Through - No. 1 (9:36)
StartLesson 1.11 - Example Walk Through - No. 2 (7:42)
StartLesson 1.12 - Tax Return Walk-Through (21:30)
StartLesson 2.1 - Expanded Tax Formula (13:31)
StartLesson 2.2 - Adjusted Gross Income (3:50)
StartLesson 2.3 - Qualifying Child (13:20)
StartLesson 2.4 - Qualifying Relative (8:53)
StartLesson 2.5 - Filing Status (13:07)
StartLesson 2.6 - Qualifying Person - HOH (4:36)
StartLesson 2.7 - Dependents (3:52)
StartLesson 2.8 - Standard Deduction (7:38)
StartLesson 2.9 - 2018 Standard Deduction - Personal Exemption (10:45)
StartLesson 2.10 - 2019 Standard Deduction - Personal Exemption (5:26)
StartLesson 2.11 - Interest and Tax Penalties (12:28)
PreviewLesson 2.12 - Failure to File and Pay Penalty Walk Through (6:27)
StartLesson 2.13 - Comprehensive Tax Return (17:40)