Federal Taxation I: Individuals, Employees, and Sole Proprietors
University of Illinois Urbana-Champaign
This redesigned course is the first course in a four-course U.S. Federal Tax Specialization and reflects legislation from the One Big Beautiful Bill Act passed in 2025. It covers and focuses on the U.S. federal tax system as it relates to individuals, employees, and sole proprietors. Key concepts covered include gross income and items that are statutorily included or excluded in it, personal and business expenses that qualify as tax deductions, and the differing tax treatments for employees vers
About this Course
This redesigned course is the first course in a four-course U.S. Federal Tax Specialization and reflects legislation from the One Big Beautiful Bill Act passed in 2025. It covers and focuses on the U.S. federal tax system as it relates to individuals, employees, and sole proprietors. Key concepts covered include gross income and items that are statutorily included or excluded in it, personal and business expenses that qualify as tax deductions, and the differing tax treatments for employees vers
What You'll Learn
- Identify relevant sources of tax law.
- Compute an individualâs federal taxable income and tax liability.
- Identify differences in tax-preferred retirement vehicles.
- Complete a basic US federal tax return.
Instructors
Matthew Hutchens
Department of Accountancy