F.A.Q.

What are taxes, and why do we pay them?
Taxes are mandatory payments individuals and businesses make to the government. They fund public services, infrastructure, education, and safety.

The main types include:

  • Federal Income Tax
  • State Income Tax
  • Social Security and
  • Medicare Taxes
  • Property and Sales Taxes
Your filing status depends on your marital and family situation:
  • Single
  • Married Filing Jointly
  • Head of Household
    • Choosing the right status can help reduce your taxes
Yes, if your medical expenses exceed 7.5% of your Adjusted Gross Income (AGI). Use Schedule A for itemized deductions.
Yes, if your income exceeds the minimum threshold for your filing status. Filing can also be beneficial for claiming refunds or credits.
A tax credit directly reduces your taxes. Examples include:
  • Child Tax Credit
  • Earned Income Tax Credit
    • Eligibility depends on meeting specific criteria.

Report all income sources on your return. These may include:

  • Wages (W-2)
  • Self-employment income (1099-NEC)
  • Investment income (1099-DIV/INT)
  • Rental income

The standard deduction is a set amount subtracted from your income without requiring documentation. For 2024:

  • $13,850 for single filers
  • $27,700 for married couples filing jointly

Self-employed individuals can deduct:

  • Office supplies and equipment
  • Transportation expenses
  • Professional services and licenses
  • Advertising and training costs
Self-employment tax includes contributions to Social Security (12.4%) and Medicare (2.9%). The total tax is 15.3% of your net income.
Use Schedule E to report rental income. Deduct allowable expenses such as repairs, property taxes, and mortgage interest.
If you don’t have an SSN, you can use an ITIN (Individual Taxpayer Identification Number). We can assist with obtaining an ITIN and filing your return.
Employees filing W-2 cannot typically deduct home expenses. However, check with your employer about reimbursement for work-related costs.
Charitable donations can be included in itemized deductions using Schedule A. Keep receipts to verify contributions.
Choose the standard deduction unless your total itemized deductions (e.g., donations, medical expenses, mortgage interest) exceed the standard amount.

It depends on your income type:

  • Wages (W-2): Taxes are withheld by your employer.
  • Self-employment: Pay self-employment tax (15.3%) and income tax.
  • Passive income: Taxes vary by source. We can help you calculate and optimize your taxes.
No, direct transfers to individuals in Ukraine don’t qualify as charitable donations. To claim deductions, donate through U.S.-registered 501(c)(3) organizations.
Yes, if their income is below $4,700 (2024) and you cover more than 50% of their expenses. Your parents must also be U.S. residents.

If the car is used for business, you can deduct:

  • Standard mileage ($0.67 per mile in 2024)
  • Actual costs (fuel, repairs, insurance)
  • W-2 employees cannot deduct car expenses.
No, commuting expenses aren’t deductible for W-2 employees. Exceptions may apply for job-required travel.
What is the "Tax School," and who is it for?
The Tax School is an educational program designed to help taxpayers, especially beginners, understand the basics of the U.S. tax system. It’s ideal for anyone who wants to file their taxes independently, minimize tax liability, and avoid mistakes.

We discuss:

  • Basics of the U.S. tax system.
  • Types of income and expenses.
  • How to claim tax credits and deductions.
  • Common mistakes to avoid.
  • Final steps for filing a tax return.
Yes, the program is tailored for beginners. All materials are explained in simple language to make understanding taxes accessible to everyone.
Not necessarily, but the course can help you better understand tax processes and work with your accountant to minimize taxes and optimize expenses.
Yes, after the course, you will know how to gather documents, calculate taxes, and file a return independently or with a professional’s assistance.
Yes, you can pursue certification as a tax professional after completing the course and meeting IRS certification requirements. This opens new career opportunities in taxation.
You will have access to the lessons for six months from the course start date, giving you ample time to study at your own pace.
Yes, the course includes live webinars where you can ask questions and get additional clarifications on the course materials.
Yes, you can ask questions to both the instructor and mentor. There’s also a private Telegram group where you can interact with other students and get answers to your questions.
Yes, each lesson is designed to help you identify all possible deductions, such as business expenses, medical costs, charitable contributions, and other allowances that can reduce your tax burden.
Yes, each lesson is designed to help you identify all possible deductions, such as business expenses, medical costs, charitable contributions, and other allowances that can reduce your tax burden.
A personal budget is key to analyzing and planning your finances. It helps you track income and expenses, identify saving opportunities, and optimize your taxes.
This is an affordable price compared to similar courses that can range from $2,000 to $6,000. Our course provides all the necessary information and support at a much lower cost, especially considering that university education in this field can cost tens of thousands of dollars.
I created this course because I’ve seen how challenging it is for immigrants to navigate taxes in the U.S. The tax system here is vastly different from what many are used to in other countries. My course helps simplify these complexities and teaches participants how to minimize taxes and avoid costly mistakes.
After completing the course, you can save thousands of dollars by learning how to optimize taxes, claim deductions and credits, and reduce the amount you owe.
Yes, we offer a separate mentorship program that assists graduates in finding jobs in the tax field. We provide guidance, resume-building support, and interview preparation tips.
Taxes in the U.S. are significantly different from tax systems in other countries. Studying U.S. taxes is important to understand your rights and responsibilities as a taxpayer, minimize tax liability, and ensure accurate tax filings.
Having an accountant is great, but understanding the basics of taxation can help you better collaborate with your accountant. You’ll be able to identify deductions and credits you’re eligible for, helping to reduce taxes and avoid errors. The course also gives you confidence in making financial decisions based on accurate knowledge.
Tax optimization involves using all available deductions and credits, such as business expenses, medical costs, charitable contributions, and mortgage interest. Strategic planning and proper documentation are crucial. Our course teaches you how to gather documents, fill out tax forms, and maximize the benefits available to you.
Taxes are a responsibility for everyone, regardless of their profession. Even as a teacher, it’s important to understand how to file tax returns correctly and which deductions apply to you, such as expenses for teaching materials or professional education. Our course will help you navigate the tax system and optimize your taxes, potentially leading to significant savings.
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