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Course Details

Overview of Topics

  • Various common questions people have on IRS Audits and tax deductions

    2 mins
  • Different strategies for structuring transactions for S Corps to maximize deductions

    7 mins
  • The new meals and entertainment rules for IRS deductions

    14 mins
  • Basics of passive losses offsetting

    27 mins
  • Real Estate Pro Status and rental as a passive income

    36 mins
  • Royalties, Personal Service Corporations, Credits etc. as passive income loss set off

    43 mins
  • Other misc. updates to commonly asked deductions

    46 mins

Why You Should Attend ?

In this practical webinar, you will look at the most common deductions that clients ask about and learn how to properly determine whether or not it is deductible.

Course Description

With the recent change in the tax law and confusing guidance from Congress and the IRS, clients often ask, can I deduct that? Upon course completion, you will be able to anticipate the most common questions clients have about tax deduction and figure out proper tax treatment for these commonly asked areas of the law.

Learning objectives

  • Consider how clients can properly take advantage of these deductions, such as IRC 179 or bonus
  • Determine how the change in entity structure will affect common deductions, such as unreimbursed employee expenses vs. an accountable plan.
  • Structure clients’ entities to properly deduct common expenses

About Presenter

Nicholas Preusch, CPA

Accounting Manager,PBMares, LLP

npreusch@gmail.com

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 VSCPA’s Tax Advisory Committee and the AICPA’s Tax Practice and Responsibilities Committee. Nicholas is an adjunct professor with 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).

Nicholas Preusch, CPA, JD, LLM, is a tax manager with PBMares, LLP. 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 VSCPA’s Tax Advisory Committee and the AICPA’s Tax Practice and Responsibilities Committee. Nicholas is an adjunct professor with 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).


Review Questions

  • Question 1 : 00:17
  • Question 2 : 00:35
  • Question 3 : 00:46
  1. A plan where you must account for reimbursements and return excess reimbursements is:
  2. Which one of the following is correct in the opinion of the speaker?
  3. Which one of the following is correct in the opinion of the speaker?
  1. Entertainment is what percent deductible?
  2. Unreimbursed expenses are what percent deductible?
  3. QBI deduction equals
  4. An S Corporation owner can use what to make non-deductible unreimbursed expenses deductible:
  5. Which of the following is not a way to calculate W-2 wages for QBI

FAQ

  • myCPE self-study courses are online.
  • The self-study format allows you to access the material online 24/7 and study at your own pace.
  • As per NASBA guidelines, you have one year from date of registration to complete each program.
  • Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
  • Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
  • These are Live recorded presentations converted into Self Study (On-Demand Videos).

Refund/Cancellation Policy

  • For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
  • Please email to   help@my-cpe.com  in case of any self study program queries.

Reviews

4.7
(30)
73%
23%
3%
0%
0%
  • JB
    JERRY BERGMAN
    Dec 21st 2019
    Great informational video
JW
Jill Whitman
good experience
TR
Thomas Rapak , CPA
Relevant
JR
June Ruggieri , CPA
I loved it.
CD
Cedrick Draper , AFSP, RTRP, ACCT./BK, Bookkeeper
Platform proficient

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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 through its website: www.NASBARegistry.org.

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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 maintenance 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

CTEC Approved

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MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

On-Demand Webinars

GOING CONCERN - IMPLICATION IN ACCOUNTING,DISCLOSURE & REPORTING
Thursday, December 03, 2020 View Details/Register
REGULATORY ETHICS GUIDEBOOK FOR CPAS: AICPA CODE OF PROFESSIONAL CONDUCT
Wednesday, December 02, 2020 View Details/Register
BUSINESS TAX UPDATE 2020
Wednesday, December 02, 2020 View Details/Register
NONATTEST SERVICES – WHAT ARE THEY AND WHY DO THEY MATTER
Wednesday, December 02, 2020 View Details/Register
IRC 199A: 2 YEARS IN – KEY OVERLOOKED PLANNING INITIATIVES
Wednesday, November 11, 2020 View Details/Register
PASSIVE LOSS ISSUES WITH SCHEDULE K-1S
Wednesday, November 11, 2020 View Details/Register
IRS TAX PRACTICE & PROCEDURE INTRODUCTION
Friday, November 06, 2020 View Details/Register
BEST TAX RETURN WORKSHOP ON Partnerships & LLCs (FORM 1065) - 2020 UPDATES
Friday, November 06, 2020 View Details/Register
ITEMIZED DEDUCTION UPDATES - WITH EXAMPLES & CASE STUDIES
Thursday, November 05, 2020 View Details/Register
COVER YOUR ASSETS: FRAUD AND INTERNAL CONTROLS
Monday, November 02, 2020 View Details/Register
Excel Accountant: CREATING ERROR-FREE EXCEL SPREADSHEETS
Monday, November 02, 2020 View Details/Register
HOW TO ANALYZE YOUR CLIENT’S TAX SITUATION
Monday, November 02, 2020 View Details/Register
BEST TAX RETURN WORKSHOP ON S CORPORATION (1120S) - 2020 Updates
Friday, October 30, 2020 View Details/Register
IRS PENALTIES, ABATEMENTS, AND REASONABLE CAUSE
Wednesday, October 28, 2020 View Details/Register
YELLOW BOOK BOOT CAMP - NFP AND GOVERNMENTAL ACCOUNTING & AUDITING UPDATE
Wednesday, October 28, 2020 View Details/Register
  • Cost $10
  • CPE Credits 1
  • CE Credits 1
  • IRS Course ID GEHNZ-U-00039-19-S
  • CTEC Course ID 6273-CE-0026
  • Subject Area Taxes
  • Course Level Basic
  • Instructional Method QAS Self Study
  • Prerequisites None
  • Advanced Preparation None
  • Published Date November 12 ,2019
  • Who should attend? Enrolled Agent Tax Attorney Tax Practitioners Accountant Others CPA - Small Firm CPA - Mid Size Firm Tax Pros Auditors Tax Firm Tax Accountant (Industry) Tax Director (Industry)
  • Handout Material Download
  • Key Terms Download

On-Demand Webinars

GOING CONCERN - IMPLICATION IN ACCOUNTING,DISCLOSURE & REPORTING
Thursday, December 03, 2020 View Details/Register
REGULATORY ETHICS GUIDEBOOK FOR CPAS: AICPA CODE OF PROFESSIONAL CONDUCT
Wednesday, December 02, 2020 View Details/Register
BUSINESS TAX UPDATE 2020
Wednesday, December 02, 2020 View Details/Register
NONATTEST SERVICES – WHAT ARE THEY AND WHY DO THEY MATTER
Wednesday, December 02, 2020 View Details/Register
IRC 199A: 2 YEARS IN – KEY OVERLOOKED PLANNING INITIATIVES
Wednesday, November 11, 2020 View Details/Register
PASSIVE LOSS ISSUES WITH SCHEDULE K-1S
Wednesday, November 11, 2020 View Details/Register
IRS TAX PRACTICE & PROCEDURE INTRODUCTION
Friday, November 06, 2020 View Details/Register
BEST TAX RETURN WORKSHOP ON Partnerships & LLCs (FORM 1065) - 2020 UPDATES
Friday, November 06, 2020 View Details/Register
ITEMIZED DEDUCTION UPDATES - WITH EXAMPLES & CASE STUDIES
Thursday, November 05, 2020 View Details/Register
COVER YOUR ASSETS: FRAUD AND INTERNAL CONTROLS
Monday, November 02, 2020 View Details/Register
Excel Accountant: CREATING ERROR-FREE EXCEL SPREADSHEETS
Monday, November 02, 2020 View Details/Register
HOW TO ANALYZE YOUR CLIENT’S TAX SITUATION
Monday, November 02, 2020 View Details/Register
BEST TAX RETURN WORKSHOP ON S CORPORATION (1120S) - 2020 Updates
Friday, October 30, 2020 View Details/Register
IRS PENALTIES, ABATEMENTS, AND REASONABLE CAUSE
Wednesday, October 28, 2020 View Details/Register
YELLOW BOOK BOOT CAMP - NFP AND GOVERNMENTAL ACCOUNTING & AUDITING UPDATE
Wednesday, October 28, 2020 View Details/Register