Itemized Deduction Updates - With Examples & Case Studies (Basic Overview)

4.6 (2081)

Jason Dinesen, EA

Dinesen Tax & Accounting, P.C.

Tuesday, February 16, 2021 | 03:00 PM EST

  • AFSP
  • CFE
  • CPA
  • CVA
  • EA
  • Tax Pros
  • PFS
  • SHRM
  • CTEC

1 CPE | 1 CE | 1 CPD

FREE

Subject Area

Taxes

Webinar Qualifies For

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

1 CPE credit of Taxes for all CPAs

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

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

1 CE credit of Federal Tax for Maryland Tax Preparers

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273)

1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ )

1 CE credit of Federal Tax Update for Oregon Tax Preparers

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

email extinguisher: simple steps to shrink the inbox

(344)

Dec 31, 2020 | 02:30 PM EST View Details

executive overview of repatriation of foreign earnings (topic 606)

(3)

Feb 01, 2021 | 10:00 AM EST View Details

excel accountant: taming large spreadsheets

Feb 04, 2021 | 10:00 AM EST View Details

kpi’s (key performance indicators): how to implement them and achieve success through them

(5)

Feb 09, 2021 | 10:30 AM EST View Details

dealing with irs collections division (part i)

(207)

Feb 18, 2021 | 01:30 PM EST View Details

excel accountant: pivot tables part 1

Mar 01, 2021 | 09:30 AM EST View Details

quickbooks: tricky & complex situations for advance learners

(212)

Mar 01, 2021 | 09:30 AM EST View Details

year-end payroll updates (latest)

(744)

Mar 01, 2021 | 09:30 AM EST View Details

most profitable strategies for cpa firms: 11 specific strategies of the most successful cpa firms

Mar 01, 2021 | 09:30 AM EST View Details

basis calculations & distributions for pass-thru entity owners schedule k-1 analysis (latest)

(81)

Mar 01, 2021 | 10:00 AM EST View Details

annual federal tax update - individuals (form 1040)

(209)

Mar 01, 2021 | 10:00 AM EST View Details

estate and financial planning: latest topics and best techniques

(14)

Mar 01, 2021 | 10:00 AM EST View Details

intermediate/advanced course on educational tax credit benefits and financial planning

(984)

Mar 01, 2021 | 10:00 AM EST View Details

corporate external financial reporting decisions

(37)

Mar 01, 2021 | 10:00 AM EST View Details

fraud update - latest 2020

(40)

Mar 01, 2021 | 10:00 AM EST View Details

Additional Dates

Mar 01, 2021 | 01:30 PM EST Register
Mar 08, 2021 | 10:00 AM EST Register

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?

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

Testimonial

4.6

(2081)
67%
29%
3%
0%
0%

MK

Very interesting course and the real life examples helped lock in the knowledge!

MJ

The information was informative and reiterated the changes which was most valuable..

AV

Very good webinar. I especially appreciated the details on medical deductions and where to look for more details. Great!

RM

The class was excellent and the instructor took his time and explain everything that was easy to learn/

JG

Instructor makes it easy to stay tuned in. I enjoy listening to him so stay on subject easily.

WK

nothing noted