CPE Packages (Incl. Ethics) for Multiple States and Qualifications Available. Price $4/credit - CLICK HERE to view.

How to Maximize Itemized Deduction (Latest 2021)

4.7 (840)

Jason Dinesen, EA, LPA

Dinesen Tax & Accounting, P.C.

Tuesday, July 27, 2021 | 03:00 PM EDT

  • AFSP
  • CPP
  • CPA (US)
  • EA
  • Tax Preparer
  • CPA/PFS
  • CTEC
  • FPC

2 Credits

$20

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 Federal Tax Law for 2021 Annual Filing Season Certificate program( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00433-21-O)

2 RCH credit for Fundamental Payroll Certification (FPC) (Approval No. 21CPE008)

2 RCH credit for Certified Payroll Professional (CPP) (Approval No. 21CPE008)

2 CPD credit (Verifiable) for CPA/PFS

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

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

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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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 online CPE/CE course will go into depth, beyond the basics, on itemized deductions

The online continuing education course will help you to deal with the following aspects of itemized deductions:

  • 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 the 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 online CPE/CE course for CPA, EA, AFSP will also be useful 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

Access other online CPE/CE Courses for CPAs, EAs, AFSP, and Tax Professionals:

Tax Update Courses for CPAs, EAs, AFSPs, and Tax professionals

IRS Audit, Representation, and Resolutions


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
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Personal Financial Specialist (PFS)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Testimonial

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    [no_of_record] => 840
    [average] => 4.6810
)
 

4.7

(840)
72%
24%
4%
0%
0%

ML

Very Good

KM

This is one of the best instructors. He keeps it interesting and real.

TB

Love the way Jason makes his presentations and how he relates them to actual cases. Also appreciate that myCPE offers webinars later in the afternoon for the East coast.

LH

Great

TRC

Very good learning

NBMT

Very helpful