Taxation

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Express Courses
Express Courses
Ultimate Tax
Ultimate Tax


 Title  Credit  Format  Price  View
+    YJ2ER- E-Asset Protection 18 Online $29.99 View

2 Credits

he current litigation explosion has created tremendous interest in asset protection. Not only does this area have financial and estate aspects but it directly impacts tax planning.

This mini-course is designed to survey opportunities for asset protection that can arise during tax planning and to determine how to properly report such transactions.

 

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

  • At the start of the materials, participants should identify the following topics for study:
  • Basic protection concepts & fraudulent transfers
  • Insurance
  • Individual titles and sole proprietorship
  • Corporations
  • Trusts
  • Co-tenancies
  • Partnerships
  • Limited liability companies
  • Marital property & separate property
  • Premarital & post-nuptial agreements

Learning Objectives

After reading the materials, participants will be able to:

  1. Clear up misconceptions about and state the main reasons for asset protection, warn clients about fraudulent transfers and structure asset protection planning transfers so that they are not fraudulent, help your client with setting goals associated with undertaking asset protection measures, and explain how life insurance can be used as an asset protection vehicle.
  2. Advise your clients on how the various types of entities relate to asset protection and how the various types of joint ownership of property and various trusts directly impacts asset protection and tax liability.
  3. Distinguish between the concepts of common law property, community property, and equitable and which states base distribution laws on those concepts, apply asset division principles, and demonstrate a working knowledge of premarital and post-nuptial agreements and how they can be used to advise clients on individual asset protection.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancelation and record retention policies

+    U-Corporate Tax Planning 21 Online $179.00 View

This course examines and explains the practical aspects of using the closely held corporation to maximize after-tax return on business operations. Recent developments giving corporations a competitive edge over other entities are explored and detailed. Practitioners are alerted to often missed fringe benefits, retirement planning opportunities, corporate business deductions, income splitting possibilities and little known estate planning techniques. The program covers step-by-step tax procedures to form, operate, and ultimately dispose of a closely held corporation. Distinctions between S and C corporations will be unraveled and guidelines for client direction given.

Course Level: Overview. This program is appropriate for professionals at all organizational levels.  
Field of Study: Taxes 
Prerequisite: General understanding of federal income taxation. 
Advanced Preparation: None

Passing Percentage: 70%
 

Please Click Here For Course Objectives

 

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancelation and record retention policies

+    Tax Cuts and Jobs Act of 2017 4 Online $39.99 View

Tax Cuts & Jobs Act ("TCJA") Summary

 

The Tax Cuts & Jobs Act ("TCJA") was approved by Congress December 20, 2017, and signed by President Trump on December 22, 2017. The Act impacts virtually every individual and business in a way not seen in over 30 years. With most provisions effective 2018, it lowers the individual and corporate tax rates, repeals numerous tax credits and deductions, enhances the child tax credit, boosts business expensing, and impacts the Affordable Care Act (ACA) by effectively repealing the individual mandate

 

This course is an overview providing reference to selected individual, education, business, retirement, insurance, international and estate tax provisions enacted or indexed for inflation by the TCJA. The resulting major tax changes carry special meaning to the tax practitioner and return preparer. The course is intended to be a resource for tax professionals and staff alike to gain easy access to the most important major changes enacted by TCJA.

 

Completion Deadline & Exam: This course, including the examination, must be completed within one year of the date of purchase. In addition, unless otherwise indicated, no correct or incorrect feedback for any exam question will be provided.

 

Course Level: Overview. This program is appropriate for professionals at all organizational levels.

 

Field of Study: Taxes

 

Prerequisite: General understanding of federal income taxation.

 

 

Advanced Preparation: None

+    Passthrough Business Deductions 199A 3 Online $39.99 View

Passthrough Business Deduction

Mini-Course Description & Study Guide

The Tax Cuts and Jobs Act (P.L. 115-97), enacted Dec. 22, 2017, created, under §199A,  a new deduction for up to 20% of qualified business income (QBI) from partnerships, limited liability companies (LLCs), S corporations, trusts, estates, and sole proprietorships for tax years beginning after Dec. 31, 2017. However, determining the §199A deduction amount and availability is a very complex multi-step process that may phase out some or all of the deduction.

In the face of this complexity, the text provides a selected overview of the basic components of this below-the-line deduction. Qualified business income, taxpayer's taxable income, wage/capital limit, specified services trade or businesses, and other key components are not only defined and calculated but their interaction is demonstrated and exampled.

 

Completion Deadline & Exam: This course, including the examination, must be completed within one year of the date of purchase. In addition, unless otherwise indicated, no correct or incorrect feedback for any exam question will be provided.

 

Course Level: Overview. This program is appropriate for professionals at all organizational levels.

 

Field of Study: Taxes

 

Prerequisite: General understanding of federal income taxation.

 

Advanced Preparation: None

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

* Deduction amount

* Wage/capital limit

* Qualified business income

* Qualified trade or business

* Specify service trade or business

* De minimis regulatory rule

* Domestic business

Learning Objectives

After reading the materials, participants will be able to:

1. Recognize §199A's limited effective time period, it's complex calculation process and the general exclusions, limits, and restrictions applicable to the provision.

2. Determine the §199A deduction amount, the type of  W-2 wages used in calculating the wage/capital limit and specify how the limit impacts the amount and availability of the deduction.

3. Identify qualified business income and loss, its basic components and the ability of a taxpayer to aggregate businesses in its determination.

4. Recognize the specified services trade or business exclusion, the listed excluded services and the important exceptions provided by the regulatory de minimis rule. Identify a domestic trade or business.

After studying the materials, answer the exam questions 1 to 15.

Notice

This course and test have been adapted from materials and information contained in the above text and any supplemental material provided. This course is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional advice and assumes no liability whatsoever in connection with its use. Since laws are constantly changing, and are subject to differing interpretations, we urge you to do additional research and consult appropriate experts before relying on the information contained in this course to render professional advice.


+    Estate Taxes for 2019 6 Online $59.99 View

Introduction

Estate taxes are one of the taxes covered by the IRS’s unified transfer tax system. Estate taxes are designed to collect taxes from transferring property at death. Proper planning can save a substantial amount of money in taxes. This course will discuss estate planning and estate taxes. This course will describe the tools that are available for estate planning and will define the benefits of using each tool. This course will describe how to identify what is included in the gross estate and demonstrate how to calculate the gross estate amounts. This course has been updated to reflect all current changes to tax law and amounts for 2019.

Learning Objectives

At the end of this course, students will be

·         Describe estate taxes and the purpose of estate taxes according to the Internal Revenue Code (IRC),

·         Identify the various types of trusts that can be used for estate planning,

·         Recognize what is included in the gross estate of a decedent,

·         Calculate the gross estate of a decedent,

·         Recognize the various deductions and credits available when calculating the gross estate of a decedent,

·         Recognize the benefits of electing portability and calculating portability exemption amounts, and

·         Describe the purpose of Generation Skipping Transfers and the Generation Skipping Transfer Tax according to the IRC.

 

CPE Credit: 6 CPE for CPAs and EAs

Level: Intermediate

Instructional Method: Self-Study

NASBA Field of Study: Taxes

Program Prerequisites: Basic understanding of federal income taxation and estate concepts.

Advanced Preparation: None


 

+    Easy Update & Inflation Adjustments 3 Online $39.99 View

This mini-course examines key individual, business, retirement, and estate tax provisions recently enacted or indexed for inflation in an overview format that is easy to reference. The emphasis is on quick access to major tax changes having special meaning to the tax practitioner and return preparer. The course is a great resource and way for professionals and staff alike to easily get the “big chunks” and bring their professional knowledge up to speed.

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

  • Tax brackets
  • Tax credits
  • Deductions
  • Education credits
  • Energy credits
  • Retirement plan contribution and phaseout limits
  • Gift and estate taxes

Learning Objectives

After reading the materials, participants will be able to:

  1. Discuss the various issues related to individual income taxes by listing the income tax rates for the various tax brackets, quoting the AMT phaseout limits and contribution limits to HSAs, and explaining the how the various individual income tax credits work, including education and energy credits.
  2. Identify and discuss the key business tax issues, including bonus depreciation, expensing, the NOL carryback period, standard mileage rates, work opportunity credit, and recent changes affecting S corporations.
  3. Differentiate between the various retirement plans, including contribution limits and phaseout limits, and review estate taxes by citing trust income tax rates and explaining how to calculate interest on estate tax installments.
    After studying the materials, answer the exam questions 1 to 15.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancelation and record retention policies

+    E-Selected Legal Issues with Tax Analysis 2 Online $39.99 View

How can you help your clients protect their assets? What is the best way for your client to “go bankrupt”? How can you help your client avoid the tax trap when going through a divorce? This course addresses all of these and many other, critical legal issues for the tax practitioner in a quick and effective potpourri of legal topics and their tax impact. The emphasis is on the tax consequences of common legal issues in today's litigatious society. From the Americans with Disabilities Act to Social Security taxes, a generous sampling of key areas is examined and explored. Tax practitioners will be quickly surprised to find how often the "tax tail" can wag the legal dog.

 

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

 

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

  • Asset protection
  • COBRA coverage
  • Bankruptcy
  • Divorce settlements & divisions
  • Employment & Social Security
  • Americans with Disabilities Act
  • Entities and title
  • Insurance & foreclosure
  • Involuntary conversions
  • Torts and personal injuries

Learning Objectives

After reading the materials, participants will be able to:

  1. Identify and analyze the business law concepts of asset protection, bankruptcy, condemnation, and damages by evaluating their tax, economic, and legal impact on the small business planning.
  2. Define the business relationships of principal, employee and independent contractor noting the legal and tax consequences of their relationship to a business, detect and solve business and legal risks posed by these parties, including co-ownership, employment, Worker's Compensation, COBRA and Disability Act provisions by developing proactive techniques such as buy sell agreements and regulatory compliance procedures.
  3. Explain and advise small-business clients on the variety of personal tax and legal issues such as divorce, foreclosure, legal title, and income needs that can directly impact their business and how investment, insurance, and government benefit planning can address these issues.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancelation and record retention policies

+    E-Getting Cash Out Of Your Business 3 Online $39.99 View

This mini-course examines the various ideas, methods, and techniques capable of optimizing the overall compensation package for key employees and principals in small to medium sized businesses. Qualified and non-qualified deferred compensation, benefit targeting, insurance programs, statutory fringe benefits, interest free loans, and investment planning are investigated. Consideration is given to indirect compensation in the form of business entertainment, expense accounts, auto use, travel, and transportation. The new field of professional services is probed to provide tax, financial and estate planning to the key executive.

 

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT  SUBJECT

At the start of the materials, participants should identify the following topics for study:

  1. Deferral of income
  2. Avoiding taxable income
  3. Unreasonable compensation
  4. Nonqualified deferred compensation
  5. Basic types of corporate retirement plans
  6. Individual plans
  7. Fringe benefits
  8. Employer provided automobile
  9. Business entertainment
  10. Business travel & transportation

Learning Objectives

After reading the materials, participants will be able to:

  1. Identify four types of income, from a financial and tax perspective, to be budgeted into cash so that income-producing assets can be acquired and managed for an effective investment plan.
  2. Structure compensation to maximize the net dollar return using strategies that involve all aspects of how the client relates to the company for which they may be an owner, employee, or both.
  3. Distinguish qualified deferred compensation plans from nonqualified deferred compensation plans, and differentiate defined contribution plans from defined benefit plans noting the characteristics of each so that business owners may choose the most suitable plan to accomplish their financial and worker incentive objectives.
  4. Explore and examine the scope and variety of excluded fringe benefits including tax treatment, operational details, and level of incentive based compensation.
  5. Apply the directly related test and the associated test to insure that entertainment expenses can be deducted, treat reimbursements paid under accountable and unaccountable plans accordingly, and identify deductible travel expenses undertaken for business.
  6. Explain four types of insurance that a company can provide its employees, describe the various types of equity participation available from which companies may choose, and define a buy sell agreement and the two basic types of a buy sell agreement.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancelation and record retention policies

+    E-Fast-track Retirement Planning 3 Online $29.99 View

We are all (including tax practitioners) getting older, and the need for effective retirement planning has never been greater. This mini-course is essential for participants who wish to attain a comfortable retirement for themselves and their clients by maximizing tax saving strategies. Retirement income needs are analyzed; Social Security benefits are determined; and distribution options from IRAs and retirement plans are explored.

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

  • Popular retirement myths
  • Defining retirement & determining retirement income needs
  • Savings
  • Assets
  • Social Security
  • Retirement plans
  • Distributions from retirement plans
  • Nonqualified deferred compensation
  • Life insurance
  • Estate planning

Learning Objectives

After reading the materials, participants will be able to:

  1. Summarize the basic guidelines of retirement planning, including the ten misconceptions of retirement, and define retirement based on three key questions.
  2. Determine retirement costs and income needs of clients based on their current budget, apply tax savings strategies, and exercise six basic guidelines when purchasing assets to attain financial independence.
  3. Explain what workers need to qualify for Social Security retirement benefits and for Social Security disability benefits, calculate clients’ retirement benefits, and distinguish Medicare Part A from Medicare Part B.
  4. Classify basic types of qualified corporate plans, and describe other sources of retirement income such as SIMPLE plans and individual retirement accounts.
  5. Illustrate the difference between annuity payments and lump-sum distributions, outline key components of rollovers, premature distributions and required distributions, and explain nonqualified deferred compensation. 
  6. Cite the benefits, uses and types of life insurance, and incorporate into practice three basic estate planning tools.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancelation and record retention policies

+    E-Estate Tools & Trusts 2 Online $29.99 View

Everyone needs to do estate planning. It is more than just planning for death. Estate planning is designing a program for effective wealth building, preservation, and disposition of property at the minimum possible tax cost. This exceptional mini-course surveys wills, living trusts, gifts, marital property, and probate avoidance. Designed to eliminate estate problems and death taxes, the emphasis is on practical solutions that are cost effective. The text reviews and explains both federal gift and estate tax systems giving practice pointers and planning observations.

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

  • Build, preserve & distribute
  • Legal documents
  • Estate planning team
  • Estate administration
  • Estate planning techniques & devices
  • Trusts

Learning Objectives

After reading the materials, participants will be able to:

dentify the key participants and their roles in a coordinated estate plan and explain probate process including trust administration;

Compare and contrast specialized estate planning tools emphasizing the use of trusts and demonstrating how such tools save death taxes and transfer wealth while accentuating asset control;

Summarize recommended trust provisions and requirements pointing out how these terms and rules impact estate and trust taxation.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancelation and record retention policies

+    E-Estate Planning with Business Issues 2 Online $29.99 View

Practitioners are brought up-to-date information on tax issues affecting estate planning and business issues. A major emphasis of this mini-course is practical estate planning solutions that are cost effective. Devised to reduce or eliminate estate problems and death taxes, this comprehensive guide examines wills, trusts, gifts, insurance, private annuities, and other general estate planning tools. The planning issues and problems that arise from owning a business interest are also addressed.


Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

  • Unlimited marital deduction
  • Simple will
  • Types of trusts
  • Charitable trusts
  • Family documents
  • Private annuities
  • Business valuation
  • Redemptions
  • Lifetime dispositions
  • Installment payment of federal estate taxes
  • Learning Objectives

After reading the materials, participants will be able to:

  1. Describe the unlimited marital deduction, its effect on the gross estate evaluation and the impact of stepped-up basis as they affect survivors and heirs. Summarize the benefits of establishing even a simple will and its control over certain assets.
  2. Discuss the primary ways to dispose of assets using trusts and annuities specifying the importance of family documents to manage assets.
  3. Identify the starting point used to value a business’s tangible assets, continue by reviewing the R.R. 59-60 business valuation factors and listing the four steps in R.R. 68-609’s valuation formula for intangible assets and goodwill noting the effect of both rulings on the total value of a business. Then, analyze the adjustment caused by minority interests in a closely held business and their impact on final evaluation.
  4. Illustrate how to use the various ways to dispose of business interest before death to family members while avoiding the provisions of the constructive ownership rules.
  5. Analyze deferred compensation agreements as a valuable estate planning tool and identify when to recommend the option of paying federal estate taxes in installments indicating the basis of the election and its eligibility requirements.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancelation and record retention policies

+    E-Employee Compensation & Benefits 4 Online $49.99 View

4 Credits

The various ideas, methods, and techniques to optimize the overall compensation package for key employees and principals are examined in this mini-course. Generally, businesses may deduct employees’ pay including wages, salaries, and other perks. Certain fringe benefits that can provide an unusually tax favored manner of supplementing compensation are described and evaluated. In addition, equity participation is explored through stock sales, repurchase agreements, incentive stock options, ESOT’s, stock options, and bonuses. Finally, deferred compensation arrangements are investigated. The goal of this mini course is to provide participants with a working knowledge of types of compensation necessary to structure a compensation package minimizing tax liabilities and cost.

 

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the material, participants should identify the following topics for study:

  • Wages, salary & pay
  • Tests for deducting pay to employees
  • Selected types of compensation
  • Payroll taxes
  • Selected fringe benefits
  • Interest-free & below-market loans
  • Equity participation
  • Advantages of nonqualified deferred compensation
  • Funded company account plans
  • Segregated asset plans

Learning Objectives

After reading the materials, participants will be able to:

  1. Identify the twenty common-law rules used by the IRS to determine whether a person is an employee for purposes of FICA, FUTA and federal income tax withholding.
  2. Recognize employee and officer compensation deductibility factors and the related employment taxes and reporting obligations to ensure compliance with regulations.
  3. Analyze and compare fringe benefits to provide deductible incentive based employee compensation.
  4. Explain equity incentive opportunities available to employers emphasizing the variety, tax treatment, and use of stock plans.
  5. Discuss using deferred compensation agreements to attain compensation and retirement objectives.
  6. Additional Contents : Complete, no additional material needed
    Advance Preparation : None
    Intended Participants :
    Any CPA looking to maintain or enhance their professional competence

    Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
    Click here to view cancelation and record retention policies

+    E-Divorce Transfers & Settlements 2 Online $29.99 View

Participants will learn how to apply, implement, and evaluate the strategic tax aspects of marital dissolutions and living together arrangements. Current perspectives on property transfers and asset divisions are examined with an emphasis on planning considerations. This mini-course reviews property settlements and other transfers incident to divorce. Basis allocation, third party transfers and purchases between spouses are also examined. Common pitfalls for the unwary such as transfers in trust, installment notes, and purchases between spouses are analyzed. Application of these tax principles is exampled in selected asset divisions of the residence, business interests, insurance, and pension benefits.

 

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

  • Property rights
  • Premarital agreements
  • Application of §1031
  • Incident to divorce
  • Property basis
  • Purchases of residence between spouses
  • Purchases of business interests between spouses
  • Selected asset divisions of residence & business interests
  • Real & personal property
  • Pension benefits

Learning Objectives

After reading the materials, participants will be able to:

  1. Inform clients on the various forms of marital property and how to proceed with a tax structured property settlement pointing out the benefits of premarital agreements to avoid potential divorce problems.
  2. Demonstrate a working knowledge of property settlements under §1041 by explaining:
    a. its application to interspousal and third party transfers,
    b. the factors that determine whether or not a property transfer is incident to divorce under §1041,
    c. property basis for the transferor and transferee spouse under §1041.
  3. Discuss and suggest remedies for the deferred tax pitfall of §1041 by:
    a. describing the deferred tax liability of interspousal purchases,
    b. explaining the tax deferral of §1031 exchanges,
    c. listing the key elements of the home sale exclusion and how to apply it;
    d. pointing out benefit distribution problems and the tax advantages of QDROs.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancelation and record retention policies

+    E-Deductions - Selected Business Expenses 2 Online $29.99 View

Business expenses are the costs of carrying on a trade or business, and they are usually deductible if the business is operated to make a profit. This mini-course reviews various expenses that businesses may deduct and the requirements that must be met for those expenses to qualify for deduction. Furthermore, practitioners can use this as a guide to determine which of their clients’ taxes are deductible as business expenses.

 

 

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

  • Section 162
  • Expenses of not-for-profit activities
  • Rent expenses
  • Interest expense
  • Deductible taxes
  • Other selected deductible costs
  • Amortization
  • Depletion -§613
  • Business bad debts
  • Depreciation

Learning Objectives

After reading the materials, participants will be able to:

  • List the elements of the §162 and the limitations imposed by the not-for-profit provisions explaining how these elements and restrictions impact business deductions such as cost of goods sold, leases, taxes, loan points, and interest expense.
  • Analyze the corporate dividends received deduction, determine the cost allocation on the business use of a residence and define casualties, thefts and research costs in the context of business deductions under §162.
  • Compare and describe the various methods of amortization for business startup, organizational costs, and §179 intangibles with the cost depletion methods used on natural resources.
  • Explain depreciation rules related to ACRS and MACRS, and list the elements of the business bad debt provisions under §166.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancelation and record retention policies

+    E-Deductions - Business Travel & Entertainment 2 Online $29.99 View

 

Taxpayers are once again looking to CPAs for guidance and planning related to travel and entertainment expenses. This comprehensive mini-course examines and explains the practical aspects of business travel and entertainment deductions. To determine the expenses that taxpayers are able to deduct, fundamentals are reviewed and planning opportunities are identified. Practitioners will learn to master the proper administration of these complex and often cumbersome provisions.

 

 

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

  • Transportation & travel distinguished
  • Definition of “tax home”
  • Temporary & indefinite assignments
  • Business purpose requirement for business travel
  • Convention & meetings
  • Statutory exceptions of ordinary & necessary requirement
  • Entertainment facilities
  • Employee expense reimbursement & reporting
  • Self-employed persons
  • Employers

Learning Objectives

After reading the materials, participants will be able to:

  1. Identify the away from home requirement listing eligible deductions, distinguish transportation and travel expenses contrasting the caselaw and IRS test for tax home and compare temporary versus indefinite work assignments demonstrating their affect on a tax home.
  2. Summarize the business purpose requirement emphasizing the 51/49 percent test, discuss deductible conventions and meetings, and specify the limitations applied to meals and lodging when traveling to insure client compliance.
  3. Define business entertainment applying the deductibility tests of §162 and identify business entertainment activity deduction restrictions to avoid later disallowance.
  4. Explain deduction limitations including the percentage reduction for meals and entertainment expenses, list miscellaneous itemized business deductions and expenses associated with an entertainment facility, and describe employee expense reimbursement and reporting options including available federal per diem rates while noting the special treatment given to self-employed persons.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancelation and record retention policies