When it comes to choosing the right income tax course, there are a few key factors to consider. The most important is finding a course that provides comprehensive training on income tax preparation, preferably one that is up-to-date on the latest tax laws and IRS regulations. Additionally, look for a course that fits your schedule and learning preferences, as income tax courses are offered in various formats including self-paced online, virtual classroom, and in-person classroom options. With hundreds of income tax courses to choose from, it can be tricky selecting the best one. Here we will compare the pros and cons of some top income tax course options to help you determine which is the best fit for your needs and goals.
What is an income tax course?
An income tax course provides training on tax preparation by teaching the complex tax code, latest tax law changes, how to properly prepare tax returns, maximize deductions, tax planning strategies and more. These courses equip students with the knowledge and skills needed to prepare taxes professionally or for personal/family use. They cover topics like filing status, dependents, income, deductions, credits, capital gains/losses, self-employment tax and much more. The curriculum aims to prepare students for tax accreditation exams such as the IRS Enrolled Agent exam. Length and depth of training varies among income tax courses. Some basic courses can be completed in a few weeks or self-paced, while more comprehensive programs take 6 months up to a year with hundreds of hours of study.
Key factors in choosing an income tax course
When researching income tax courses, here are some of the most important factors to look for:
- IRS approval – Look for Registered Tax Return Preparer (RTRP) courses or continuing education providers approved by the IRS. This ensures quality, accurate, up-to-date tax training.
- Comprehensive curriculum – Choose a course that covers all aspects of individual and business tax preparation, not just basics.
- Qualifications of instructors – Look for courses taught by experienced tax professionals like CPAs, EAs and attorneys.
- Updated content – Opt for courses that are revised each year to reflect latest tax laws, IRS regulations and court rulings.
- Exam prep – Some courses prepare you for EA, CPA or other licensing exams.
- Format and schedule – Consider your learning style and availability to pick in-person, online or self-paced courses.
- Cost and financing options – Compare overall costs including tuition, fees, books and materials.
- Hands-on practice – Look for courses that provide practical experience through case studies and tax return projects.
- Support and resources – Choose courses with ample student support like tutoring, online resources, community forums, etc.
Keeping these factors in mind will help you select the income tax course best suited to your professional or personal tax education needs.
Overview of major income tax course providers
There are many organizations and institutions that offer income tax training courses. Here is an overview of some of the most prominent income tax course providers:
H&R Block
H&R Block offers a wide range of tax courses through its Tax Training Schools located across the U.S.
Key features:
– In-person classroom-based with flexible scheduling
– Three main course levels: Basic, Advanced, and Tax Professional
– Specialized courses like self-employed/rental property taxes
– Year-round enrollment
– Tuition ranges from $199-$3,899
Jackson Hewitt
Jackson Hewitt provides Basic, Advanced, and Master tax courses. They offer in-person, online, and correspondence self-study options.
Key features:
– Courses approved by CTEC and NASBA for CE credit
– Fewer hours than other courses with accelerated formats
– Basic courses from $199-$299
– Master course around $1,200 total
Liberty Tax Service
Liberty Tax Service offers Income Tax Course via in-person, online, live online, and self-paced options.
Key features:
– 4 course levels from basic to advanced
– Textbooks and tax software included
– Enrollment periods 3 times a year
– Tuition ranges from $199-$499 per course based on format
The Income Tax School
The Income Tax School provides a self-paced online Income Tax Course via OnDemand video lectures.
Key features:
– IRS approved continuing education provider
– One flat tuition fee of $239.99
– Access for 16 months to complete course
– Textbook, guides, tools included
– Optional exam prep add-ons like EA Exam Study Suite
Udemy
Udemy offers a wide selection of online income tax courses from various instructors on their open course marketplace platform.
Key features:
– Self-paced video format
– Length and depth varies between courses
– Topics from tax basics to advanced tax strategies
– Many courses under $100 though prices range higher
– Frequent specials and discounts
Ed2Go
Ed2Go partners with colleges and universities to offer online courses and programs, including income tax training.
Key features:
– Instructor-led online classes
– Fixed enrollment periods, usually 6-8 weeks
– Certificate of Completion upon graduating
– Continuing Education Units (CEUs) may be available
– Pricing ranges from $99-$2,500 dependent on course
Coursera
Coursera offers online income tax classes created by universities and organizations worldwide. Class format, length, and cost varies.
Key features:
– Self-paced and instructor-led formats
– Certificate of Completion for most courses
– Entry-level to advanced course topics
– Pricing from free to $99 per course typically
This table compares some key features of the income tax course providers discussed:
Provider | Course Format | Length | Pricing |
---|---|---|---|
H&R Block | In-person | Varies by course | $199-$3,899 |
Jackson Hewitt | In-person, Online, Self-paced | Accelerated | $199-$1,200 |
Liberty Tax Service | In-person, Online, Self-paced | Flexible enrollment | $199-$499 per course |
The Income Tax School | Online self-paced | 16 months access | $239.99 |
Udemy | Online self-paced | Varies | Under $100 typically |
Ed2Go | Online instructor-led | 6-8 weeks usually | $99-$2,500 |
Coursera | Online self-paced or instructor-led | Varies | Free – $99 per course |
This comparison table highlights key differences between the course providers in terms of format, length, and pricing. However, it does not reflect every provider available. Many local community colleges, universities, and professional associations also offer tax training courses in various formats.
5 best income tax courses
Based on the above factors and provider comparison, here are 5 of the best income tax courses to consider:
1. H&R Block Income Tax Course
The H&R Block Income Tax Course is one of the most reputable and long-standing tax training programs available. With convenient in-person locations across the country and flexible scheduling, H&R Block courses are a top choice for comprehensive tax education. Their instructors have on average 8-15 years of experience preparing taxes. The courses cover all the essential tax topics in-depth while providing real-world experience. Hands-on training helps students apply concepts while building confidence. H&R Block’s advanced course also thoroughly prepares students for the IRS Enrolled Agent exam. The only downside is the higher cost, with advanced tuition running $3,899. However, financing plans and scholarships are available.
2. Liberty Tax Service Small Business Income Tax Course
For taxpayers needing training focused on small business taxes, Liberty Tax Service offers an ideal income tax course. Areas covered include sole proprietorships, LLCs, S-Corps, partnerships, payroll and employment taxes, business deductions, accounting methods, retirement plans and much more. Students gain practical experience through asimulated tax season. This course is best for current or aspiring tax preparers planning to work with small business clients. Format options include self-paced online, live online classes, in-person, or textbook study. Pricing ranges from $349-$399 depending on format selected.
3. The Income Tax School OnDemand Online Course
For self-motivated learners looking for affordable, convenient tax training, The Income Tax School’s OnDemand course is a top pick. This IRS approved online course offers high quality video lectures, textbooks, study guides, and downloads for one low tuition fee of $239.99. The flexible self-paced format grants access for 16 months so students can study on their own schedule. While primarily focused on individual income tax, this course provides a very solid foundation in tax preparation for personal, professional or business purposes. The Income Tax School also offers very useful EA Exam study packages to further your tax education.
4. Udemy Income Tax Preparation Course
Udemy offers one of the most budget-friendly and quickest online income tax course options. For less than $100, you gain access to more than 16 hours of in-depth training videos plus supplementary downloads. This self-paced course covers income tax basics, common deductions and credits, Form 1040, and key concepts for accurately filing personal tax returns. While not as comprehensive as costlier courses, this Udemy course provides quality tax preparation training for personal filers on a budget and schedule. Frequent specials make this course even more affordable.
5. Ed2Go Prepare for the IRS Enrolled Agent Exam
For students interested in becoming an Enrolled Agent, Ed2Go’s EA Exam prep course is a great choice. This course thoroughly covers the IRS syllabus to ready students for all 3 parts of the EA exam. Experienced EA instructors teach online in a structured 8-week format. Students can enroll year-round and work towards the EA credential at their own pace. Those needing a refresher on taxation fundamentals can complete Ed2Go’s Tax Preparation program first. At around $1,500 total, this EA prep course is very reasonably priced compared to similar offerings.
These particular courses rise above competitors based on their affordability, accessibility, depth of training, quality of instructors, hands-on practicality, exam-prep effectiveness, and overall value offered to students.
Choosing the right income tax course for your needs
With this overview of the best income tax courses available, how do you choose the right one for your specific needs and goals?
Here are some key questions to ask yourself to select the optimal income tax course:
- What are my career or business goals? Am I preparing taxes for personal use, to provide tax services, or for an accounting career?
- Do I want tax training for individuals, businesses, or both?
- What level of tax expertise do I need right now – basic, intermediate or advanced?
- Do I want to become an Enrolled Agent or CPA eventually?
- What delivery format best suits my learning style and schedule – self-paced, live online, in-person?
- What is my budget for tax training?
- How long do I have or how quickly do I need to complete the course?
- Will I qualify for financing assistance or scholarships?
- What support resources and continuing education do I need?
Carefully considering these questions will guide you in identifying the income tax course that best fits your current scenario and future goals. Match the depth of training and credentials gained towards your intended tax career path. But the most essential factor is choosing an IRS approved, up-to-date tax course from a reputable provider. This will ensure you receive the necessary knowledge and skills to prepare accurate, complete tax returns that avoid penalties and IRS issues.
Conclusion
Finding the ideal income tax course depends on your specific situation, learning preferences, and budget. While this article provided an extensive comparison of top course options, everyone’s needs are unique. Seek advice from current tax professionals on courses they recommend. Invest time researching providers in-depth and consulting reviews to make the best choice. The income tax course you choose is an important investment in your education, career, or business. But the right course can pay dividends by equipping you with tax expertise that leads to fruitful opportunities and enhanced financial knowledge.