This course introduces the individual income taxation process. An introduction of concepts such as total income for tax purposes, exclusions, deductions, and tax credits is incorporated into an introduction to Form 1040. The course also explores some of the adjustments to income, and various itemized deductions.

1-1 Describe terms related to income taxation.
1-2 Identify the steps in the tax calculation process.
1-3 Identify items of inclusion, exclusions, deductions, or tax credits.
1-4 Analyze a situation to calculate total income for tax purposes.
1-5 Analyze a situation to calculate adjusted gross income.
1-6 Analyze a situation to calculate taxable income.
1-7 Analyze a situation to calculate available tax credits or total tax due.
1-8 Analyze a situation to calculate the equivalent tax benefit of exclusions or deductions to tax credits.
1-9 Evaluate a situation to select fundamental methods of managing the client’s tax liability.

Author: Michael B. Cates, MS, CRPS®, CFP®

Michael B. Cates, MS, CRPS®, CFP® joined the College in 1986, and is the professor for the Income Tax Planning course of the CFP Certification Professional Education Program. He received his CFP® certification in 1995, and completed the College’s Master of Science degree program in 1997. Mike is also the lead professor for the introductory Income Tax Planning course in the College’s master’s program. In addition to his responsibilities at the College, Mike also maintains a tax planning and preparation firm in Aurora, Colorado. You can reach Mike at

Complexity Level: Intermediate