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

Itemized Deduction Updates - With Examples & Case Studies

4.6 (3091)

Jason Dinesen, EA, LPA

Dinesen Tax & Accounting, P.C.

Wednesday, January 20, 2021 | 01:30 PM EDT

  • AFSP
  • CFP
  • CPA (US)
  • CVA
  • EA
  • HRCI
  • Tax Preparer
  • CPA/PFS
  • SHRM
  • CTEC

1 Credit

FREE

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00233-20-O)

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0241)

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

1 PDC credit for SHRM Certified Professionals (Approval No. 21-W37SD)

1 CPD credit (Verifiable) of Personal Financial Planning Process for PFSs

1 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00233-20-O)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00233-20-O)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

Being a Tax Professionals or CPA or Financial Advisor or any finance professional you would have been definitely ask this question Is this deductible?

Because every taxpayer wondered if you can itemize deductions on your tax return? Actually, they wondered what, exactly, itemizing means? They don't even know that Itemized deductions comprised of various types of certain expenses that you incur throughout the year (things that are—surprise, surprise—“tax-deductible”). If the total amount of these expenses is greater than the standard deduction amount, you should itemize instead of taking the standard deduction and may have a reduce tax liability.

When you’re filling out 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 CPE webinar will look at the most common deductions clients ask about and how to properly determine, is that deductible and give your client or colleague or friend the best advice? This is latest webinar is updated after the pandemic, covering the latest updates.

Learning Objectives

  • To identify the most common questions clients have about tax deduction
  • To identify proper tax treatment for these commonly asked areas of the law
  • To recall the application of new tax law to the different deductions that clients would enjoy in the past
  • To consider how clients can properly take advantage of these deductions, such as IRC 179 or bonus
  • Identify how the change in entity structure will effect common deductions, such as unreimbursed employee expenses vs. an accountable plan

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Bookkeeper
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros

Testimonial

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    [average] => 4.6121
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4.6

(3091)
66%
30%
4%
0%
0%

MG

Well presented and organized with good content.

DS

N/A

NBMT

Helpful for my job

EH

The whole webinar was very educational

DW

Did not know that you could claim non dependent children for medical expenses

JH

great, loved the detail in the medical expenses.