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Complex Schedule A Training

Complex Schedule A Training

2 Credits

$20

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00207-20-S)

2 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0215)

2 CPD credit (Verifiable) for CPA/PFS

2 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00207-20-S)

2 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00207-20-S)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Before starting this self study program, please go through the instructional document.

Overview

  • Medical Expenses deductions
    3 mins
  • 5 Broad Areas of Deductions
    16 mins
  • Transportation deductions
    24 mins
  • Tax capping and IRC 212
    36 mins
  • Taxes Assessed for Local Benefits
    49 mins
  • When you can deduct Charitable Contributions?
    66 mins
  • Donation of Capital gain Properties
    71 mins

Course Description

The Internal Revenue Service provides the taxpayer an option whether the taxpayer wants to itemize their deduction or claim standard deduction. The amount of standard deduction is dependent on the failing status of a taxpayer. In case the taxpayer has significant amount of deductible expenses during the year i.e. higher from the standard deduction, the taxpayer may itemize the deduction. For this the taxpayer needs to report the deductible expenses on Schedule A. 

However, the Tax Cuts and Jobs fundamentally changed the way Americans itemize deductions. With fewer Americans being able to itemize with the increased standard deduction, the IRS has not yet decreased auditors that focus on itemized deductions. This concludes that there is only a small audit pond for the IRS to fish from for people who itemized. With the increased detection risk, it is imperative practitioners properly file Schedule A as to protect their clients from increased taxes, penalties and interest and protect practitioners from practitioner penalties.

This webinar targets clarifying CPAs, EAs, Tax Preparers, and other Tax Professionals about which expenses should be taken benefit of deduction and how. The webinar discusses the following Key Topics:

  • How to determine Medical Expenses
  • How to determine Taxes
  • Determine how to calculate Interest
  • Calculate Charitable Contributions
  • Understand the regular Casualty and Theft Losses

Learning Objectives

  • To identify which medical expenses can be claimed in itemized deduction
  • To recognize how to determine taxes
  • To recall how to calculate interest
  • To recognize the calculation of Charitable contributions to claim itemized deduction
  • To identify when to claim regular Casualty and Theft Losses as itemized deduction

Who Should Attend?

  • Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • VP Accounts
  • Young CPA

Testimonial

4.4

(75)
52%
36%
9%
3%
0%

MS

very relevant

SR

great webinar !

SS

Good one did cover all Sch A

MC

Good!

PW

NA

LG

The last 5 - 10 minutes the slide presentation did not move.