Course Level: Intermediate
Summary
Take the extra step in getting ready for this year’s filing season. This workshop will enhance your knowledge of tax preparation by examining several itemized deductions in depth. It will analyze the deductibility of unusual items, such as the cost of in-home health care or special schools, the interest-tracing rules, travel away from home and the foreign tax deduction.
Objectives
Upon completion of this course, you will be able to:
- Examine special medical expenses, including in-home health care and qualified long-term care services.
- Decide which taxes to deduct on Schedule A.
- Determine whether to deduct foreign taxes or claim a credit for them.
- Analyze the home mortgage interest deduction.
- Discuss charitable contributions of property and the applicable reporting requirements.
- Examine deductible employee business expenses.
- Identify deductible investment expenses and losses.
