Small Business I Tax Course

(1 customer review)


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For Current Tax Preparers

This course:
>>provides an understanding and solid foundation for preparing business tax returns and researching issues
>>is designed as an introduction to some of the issues involved in the preparation of tax returns for various forms of business entities
>>gives you the information necessary to handle partnerships and corporations

Product Description

Please note:

    • This course is not a webinar

    • Guide to Start and Grow Your Successful Tax Business is non-refundable

    • We provide all students with a free Tax Law Update once the IRS issues updates

    • CTEC CE Deadline Information:

      • ITS Students must complete CTEC CE by 10/21 to ensure timely reporting in order to meet the 10/31 CTEC renewal deadline.

      • ITS Students who complete CTEC CE between 10/22 – 10/30 can opt to pay a $20 expedited reporting fee in order to meet the CTEC renewal deadline on 10/31.

      • ITS Students who complete CTEC CE on 10/31  are NOT guaranteed that their CE will be reported in time to meet the 10/31 CTEC renewal deadline — even if the $20 expedited reporting fee was paid.

    • All CE must be completed with a passing score by 12/31 each year for it to be accepted by the IRS

    • Prior tax preparation experience/knowledge of individual tax return preparation is suggested.

Course features:

  • Online, self-study beginner tax course
    • Study anywhere/anytime with an internet connection
    • No prerequisites required
  • All reading material is viewable online with optional PDF downloads
    • Printed and bound books are an optional add-on for a fee
  • Academic support from tax school instructors provided by email
  • Automatic grading with instructional feedback
  • Certificate of Completion
    • Emailed upon completion with a final passing grade of 70% or greater
  • Approved by Internal Revenue Service (IRS) Office of Professional Responsibility (OPR)
    • We report your credit hours to the IRS
  • CTEC Approved
    • State material is available for California (Choose CA edition)
    • Upon successful completion of the course, we will notify CTEC of your completed credits
  • View our credentials

About the course:

View the Table of Contents:

Topics Include:

  • Business Types
  • Accounting Methods
  • Financial Statements
  • Business Income
  • Schedule C
  • COGS/Inventory
  • Depreciation
  • Section 179
  • Deduction
  • Contractor vs. Employee
  • Sale of Business Property
  • Partnerships
  • Corporations – C, S, LLC
  • Employee Taxes
  • Excise Taxes
  • Extensions
  • Estimates
  • Employee Benefits
  • Retirement Plans

Course FAQs

How do I get started?

Upon purchasing your course, you will receive login credentials via email to log in to our Learning Management System (LMS) and may begin your course right away. Your login credentials for the LMS and for your ITS account (used to purchase more courses or seminars) will be the same until and unless you change one or both of them.Back To Top

How long do I have to complete the course?

You can access and complete our courses online, 24/7, provided you have internet access. Course completion terms vary depending on the course or bundle you purchase. Typically, you will have 6 months to complete the Comprehensive Tax Course and 3 months for any of the Advanced or Small Business courses. This is based on a schedule of just one chapter per week, with 2 additional weeks to study for tests, though many students are able to complete their courses more quickly.
If you have purchased a bundle or certificate program product that includes multiple courses, you can to add the course terms together to get the completion terms of that product. Specific completion terms for each product are also listed on the corresponding product page.Back To Top

Do I have to buy hard copy books?

Hard copy books are completely optional. Some students prefer to work through reading materials offline and simply use the online platform to complete assignments, quizzes, and tests. The hard copy books are also a useful tool for tax preparers to use as a reference after they’ve completed the course and are filing tax returns in the field. You do not have to wait for your hard copy book to be shipped to you, but you can if you wish.Back To Top

I purchased a bundle/certificate program with books, but only received one book. Why?

Bundles and certificate program are products that include multiple courses designed to be taken in order. Depending on when you purchase, you could start your first course and by the time you’re ready to start the next one a new edition could be available. For this reason, we ship books one at a time to make sure you get the most up-to-date version available.Back To Top

Which edition should I choose: Standard or California?

The Standard edition of our courses contains information about federal tax law and is applicable to all US tax preparers. A California edition is available for our Comprehensive and Small Business I courses, which includes all the information of our Standard editions but adds a California state tax law supplement. If you’ll be filing returns for California residents and businesses, choose California. Otherwise, choose Standard.Back To Top

What grades do I need to pass the course?

A minimum 70% average cumulative grade is required to pass the course. This includes all quizzes, tests, and the final exam. You will be allowed 2 attempts for all quizzes and tests, and 1 attempt for the final exam. You must successfully complete each section before you are able to move on to the next one.
If you’re unable to finish any graded assignment in one sitting, you can always save your place and sign off (just be sure NOT to click ‘submit all and finish’). When you sign back in you’ll be able to continue from where you left off. If you’d like, you can download any assignment to complete offline, and then input the answers when you have time.Back To Top

What happens once I complete my course?

Upon successful completion of the course, our school administrators will review your progress and you will receive a Certificate of Completion by The Income Tax School (ITS). We will also report your credits to the IRS and CTEC (if applicable), provided you have submitted an active Preparer Tax Identification Number (PTIN) to us. Click here for information on how to obtain an active PTIN from the IRS.Back To Top

I’m buying a course on behalf of someone else, what should I do?

For business owners operating their own tax school who wish to license our courses for their students: email or call 1-800-984-1040.

Many customers come to us and are buying a course or seminar for someone else. They could be buying the course for their spouse, or a business owner purchasing for an employee(s), or an employee signing up for a course that their employer is paying for. In those cases, use the following steps:

  1. Select your course(s)
  2. Proceed to checkout
  3. Fill the billing address and payment fields with the information of the person paying for the course.
  4. In the Additional Comments section: enter the names and emails of the person(s) taking the course(s)

Example: Jane is a business owner who wants to purchase the Comprehensive Tax Course for Megan and the CTP Program for Jeff. Jane puts both the Comprehensive course and the CTP Program in her cart and proceeds to checkout. Jane enters her information for the Name, Email, Billing Address, and credit card info, then specifies “Megan Smith – Comprehensive course. Email:, Jeff Jones – CTP Program. Email:” in the Additional Comments section.

Jane will receive a receipt of purchase by email and will be given login credentials of her own by default. Our school administrators will then manually create student accounts for Megan and Jeff and add their respective courses to their accounts. Please allow up to 2 business days for this to take place.

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Payment Plan

Refund Policy

The Refund Policy below is applicable only for courses students purchase directly from The Income Tax School or Peoples Income Tax School. Students who purchase any courses through third party schools or other organizations must address all refund issues with the entity through which they made that purchase. Please note: Operator©s Starter Kit, License Renewal, Tax Practice Management Manuals (Marketing, Policies and Procedures, Personnel, and Expansion), the Guide to Start and Grow Your Successful Tax Business, and the two Business Start-up Guides are non-refundable.

Online Individual Students

Chartered Tax Certificate Programs Online Individual Students

Virginia Live and Online Individual Students

Academic Honesty Policy

Licensee Guarantee and License Agreement

Reseller License Agreement

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1 review for Small Business I Tax Course

  1. Cheryl

    I loved the other courses, but this one did not offer enough practice returns. I find it very difficult to work with partnership and corporate returns after taking only this class. I learned the theory, but I needed MUCH more practice – three or four examples in each chapter of the course would have been good. Instead, there was often only one.

    Dear Cheryl, Thank you so much for your candid feedback. We agree that there are not enough examples/practice tax returns and plan to add more in our next update.- The Income Tax School Curriculum Development Team


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