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myCPE

U.S. Business Tax Preparation Practical Course - Part 1 4.5 Credits

U.S. Business Tax Preparation Practical Course - Part 1 4.5 Credits

Learning mode

On Demand
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate

Learning Objective

  • To discuss different types of business tax returns, including Sch C, C Corps, S Corps, and Partnerships.
  • To explain LLCs and their classifications.
  • To gain knowledge on financial statements and the trial balance for record keeping.
  • To analyze the concepts of expensing vs. capitalizing, basis and adjusted basis, depreciation, and IRC 179 and bonus depreciation.
  • To discuss the basics of how to calculate gain or loss on assets, understand Form 4797, safe harbor and small business elections, and an introduction to like-kind exchange.

Course Overview

Are you interested in developing your knowledge and skills in U.S. Business Taxation? If so, consider enrolling in our first course, which is part of a three-series course on U.S. Business Tax. This online course provides a basic introduction to Business Organizations and Fixed Assets.

Major topics covered in this CPE course:

  • Introduction to different types of Business Tax Returns
  • Understanding LLCs and LLC Classifications
  • Record Keeping: Financial Statements and the Trial Balance
  • Expensing vs. Capitalizing
  • Basis and Adjusted Basis
  • Depreciation
  • IRC 179
  • Bonus Depreciation
  • Calculating Gain or Loss on Assets
  • Form 4797
  • Overview of Safe Harbor and Small Business Elections
  • Introduction to Like-Kind Exchanges

Enroll in this series of courses that combines conceptual and applied Material, Quizzes, Case Studies and Simulations to help you navigate the ever-changing U.S. Business Federal Tax System. This three-course series is recommended for non-degree holders seeking short-term training programs, individuals without a college or professional degree, and those working in tax firms who want to get a basic understanding of U.S. Business Taxation.

Don't miss this chance to develop your expertise in U.S. Business Taxation. Join this CPE Course by Nicholas Preusch today and gain the necessary skills and experiences in U.S. Business Taxation to increase your job marketability.

On Demand Credits for All Qualifications

License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 4.5 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01529-23-S) 4 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-01529-23-S) 4 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1240) 4 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 4.5 CPE Eligible
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01529-23-S) 4 CE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-01529-23-S) 4 CE Eligible
Taxes for Iowa Licensed Public Accountant (IA-LPA) 4.5 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 4.5 CPE Eligible
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01529-23-S) 4 CE Approved

Additional Information

Credits

4.5

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

Boost your HR career with MY-CPE’s HRCI Recertification Courses. Designed with your professional growth in mind, our courses make earning HRCI Recertification Credits simple and straightforward. At MY-CPE, we’re committed to your success in the ever-evolving world of human resources. Our courses offer the latest insights and practical skills to help you stay ahead. Whether you’re looking to deepen your expertise or broaden your abilities, MY-CPE provides the resources you need. Take the next step in your HR journey today and secure your competitive edge with our top-quality recertification options. 

About Instructor

Nicholas: Top-rated speaker for Latest TAX CPE/CE Webinars | myCPE
Nicholas Preusch , CPA (US)

Certified Public Accountant (CPA), Nicholas Preusch

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Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the  AICPA’s Tax Executive Committee. Nicholas is an adjunct professor at the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

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JB

Jay Barr, CPA (US)
5

Normally, never write a review, but Nicholas' presentation was outstanding. I noted his name to take future courses with him. His approach is practical not merely reading information or theoretical. I highly recommend this instructor.

AI

Alex Iloani, EA
5

The instructor has commendable hands-on experience with the subject matter and a tremendous ability to convey it clearly and straightforwardly. I am impressed with the practical Tax preparation steps highlighted in this webinar.

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