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Schedule C Tax Issues

 
Duration: 100 minutes
Course Level: Basic
Prerequisite: None
Advanced Preparation: None
Delivery Method: Self-Study 
 
CPE Credits Designation Field of Study
IRS * 2 EA Federal Tax Law Topic
NASBA 0 CPA N/A
CTEC 2 CRTP Federal Tax Law Topic
CFP Board 2 CFP® Income Tax Planning

* NATP will report CPE credits to the IRS for all PTIN holders. CPE is currently not mandatory for RTRPs or RTRP candidates and any option to register or participate in this program is strictly voluntary.

Fees: $52 for Members and $64 for Nonmembers
 
Summary
Various issues may arise when preparing taxes for a sole proprietorship. One common issue tax professionals may face is determining the difference between a business and a hobby. Another common issue is properly determining business expenses. Retirement plans options may also be confusing to clients. This on-demand webinar focuses in on these questions and how they relate to completing Schedule C, Profit or Loss from Business. Tax professionals who work with small businesses will want to tune in for this informative webinar.

Objectives
Upon completion of this on-demand webinar, you will be able to:

  • Determine whether an activity is a hobby or a business.
  • Discuss the qualifications and determine deductible expenses of an office in the home.
  • Complete Form 8829, Expenses for Business Use of Your Home.
  • Discuss various types of retirement plans available to sole proprietors.
  • Compute the contribution amount and the deductible amount for each retirement plan discussed.

Presenter: Jaye Tritz, EA, CFP®

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PO Box 8002, Appleton, WI 54912-8002 Phone: 800.558.3402 Fax: 800.747.0001

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