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HH. Schedule C Trade or Business Issues and the §183 Hobby Loss Rules | Webinar

Course Price: $199.00
CPE Credits
4
Date
Thursday, July 29, 2021
Course Time
10:00am - 02:15pm PT
11:00am - 03:15pm MT
12:00pm - 04:15pm CT
01:00pm - 05:15pm ET
Advanced Preparation
None
Course Level
Intermediate
Prerequisite
Knowledge of Federal Income Tax
IRS CPE
4
NASBA CPE
4
CTEC CPE
4
Instructor
Paul La Monaca CPA, MST
Course Description

This course reviews the important tax issues of operating a trade or business as a sole proprietorship for Federal Income Tax purposes. It reviews the reporting details required for including revenue Under §61 and deducting ordinary and necessary business expenses under §162 on Schedule C of Form 1040. The course also stresses the importance of good record keeping. It ·will review the new §199A Qualified Business Income rules as they apply to sole proprietors for deducting the "20% pass through deduction". The course also reviews the §183 Hobby Loss rules before and after the Tax Cuts and Jobs Act and discusses the issues of audits and burden of proof of the taxpayers vs. the IRS.

Learning Objectives

At the completion of this course participants will be more equipped to address the challenges of properly preparing a Schedule C and understanding the limitations when an activity is not a trade or business. The participant will also obtain an understanding of §199A Qualified Business Income and the allowance and limitations of the "20% pass through deduction".

IRS: Federal Tax Law Topics CPE 2/Federal Tax Law Update 2 CPE

CTEC: Tax Law CPE 2/Tax Update 2 CPE

NASBA: Taxes 2 CPE

FAQ

To receive the member price, first log into your member account. Your member discount will then be automatically applied. We can also take your registration by phone.

Your registration confirmation will be emailed to you when your payment is processed. During our busy season, this can take up to 2-3 business days after we receive your registration.

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Yes. If you have a PTIN on file with us, we will submit your hours. To insure we have your correct info, please provide your PTIN when you register for a course. Please notify us if you have recently submitted a name change request to the IRS.

Your certificate will be emailed to you within 10 business days of the completion of the course.

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