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How to Maximize Itemized Deduction (Latest 2021)

4.7 (732)

Jason Dinesen, EA, LPA

Dinesen Tax & Accounting, P.C.

Friday, May 14, 2021 | 10:30 AM EDT

  • AFSP
  • CPA
  • EA
  • Tax Preparer
  • CPA/PFS
  • CTEC

2 Credits

FREE

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00433-21-O)

2 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0433)

2 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

2 CE credit of Federal Tax Law for 2021 Annual Filing Season Certificate program( IRS Approved : GEHNZ )

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPD credit (Verifiable) for CPA/PFS

2 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00433-21-O)

2 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00433-21-O)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

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annual federal tax update - c & s corporations, partnerships & llcs (forms 1120, 1120s & 1065)

Jun 18, 2021 | 10:00 AM EDT View Details

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Jun 18, 2021 | 10:00 AM EDT View Details

partnership preparation, basis calculations & distributions–form 1065 schedule k & k-1 analysis

Jun 18, 2021 | 08:00 AM PDT View Details

comprehensive tax strategies & insights on real estate

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Jun 18, 2021 | 08:00 AM PDT View Details

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Jun 18, 2021 | 08:00 AM PDT View Details

maximizing home office deduction (covid special - latest)

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Jun 18, 2021 | 11:30 AM EDT View Details

This Course is Also Available in Self Study (On-Demand)

Click Here

Course Description

When you’re filling out a federal tax return this year, you’ll be asked to either calculate your itemized deductions or to take the standard deduction—an amount predefined by the IRS and based upon your filing status (e.g., single or married filing jointly). If you don’t qualify to itemize deductions, you will choose the standard deduction.

With the change in the tax law, and other previously confusing guidance from Congress and the IRS, clients often ask, can I deduct that? This webinar will go into depth, beyond the basics, on itemized deductions.

The following topics will be covered in detail:

  • medical expenses: is it deductible or not?
  • Mortgage interest issues including interest-tracing rules,
  • dealing with home equity lines of credit,
  • dealing with mortgages that are over the thresholds,
  • investment interest,
  • charitable contributions,
  • casualty losses,
  • miscellaneous deductions.

This online CPE webinar covers following key topics:

  • Medical expenses: what's deductible and what's not?
  • Medical expenses: dealing with capital improvements
  • Interest expenses: Tax Cut and Jobs Act changes
  • Interest expenses: dealing with loans above the TCJA limits
  • Interest expenses: dealing with home equity lines of credit
  • Interest expenses: interest tracing
  • Dealing with investment interest
  • Charitable contribution issues: beyond the basics -AGI limits, non-cash contribution reporting
  • Calculating casualty losses .and is it deductible anyway?
  • What exactly are "miscellaneous deductions"?


This webinar is suitable for: 

Professional or Tax Staff Involved in Preparation, Review or Providing Advice on Individual Tax Returns, Professional or Practitioner who wants to learn more about Individual tax planning or Tax reduction strategies

Learning Objectives

  • To define what allowable medical expenses are
  • To define what the TCJA changed regarding mortgage interest
  • To review how to make mortgage calculations to determine deductible amounts
  • To analyze how to implement AGI rules around charitable contributions
  • To analyze how to report non-cash charitable contributions

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • Certified Fraud Examiner
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Personal Financial Specialist (PFS)
  • Tax Accountant (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Testimonial

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    [average] => 4.6844
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4.7

(732)
72%
24%
4%
0%
0%

KT

Speaker was very clear and informative, perfect speed and helpful slides.

PT

Interesting way that he went through the schedule A line by line.

MG

I look forward to learning new knowledge in these CPE courses. This is my second time with this instructor and he makes it fun while sharing a wealth of knowledge.

SK

Great course! I appreciate how the presenter explained the information thoroughly. He also shared his experiences which helped me to understand better.

AM

Very thought and humorusly whimsical, great pacing and instruction for a two hour class. Enjoyed and learned from his presentation.

BF

Definitely more in depth than I would have expected the subject matter to be. Gives new insight to determining if Itemizing is better than the Standard Deduction in some cases. Will definitely recommend my-CPE.com to colleagues. Jason's webinars have always been in depth and thorough.