Schedule C - Form 1040

4.7 (2973)

Jason Dinesen, EA

Dinesen Tax & Accounting, P.C.

Monday, February 08, 2021 | 02:30 PM EST

  • AFSP
  • CPA
  • EA
  • Tax Pros
  • PFS
  • CTEC

2 CPE | 2 CE

FREE

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CPD credit (Verifiable) for CPA/PFS

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

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

2 CE credit of Federal Tax for Maryland Tax Preparers

2 CE credit of Federal Tax for Oregon Tax Preparers

2 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Additional Dates

Mar 01, 2021 | 02:30 PM EST Register

Course Description

Many self-employed or sole proprietors find themselves having to navigate Schedule C in reporting business income.  While this attachment to Form 1040 seems straightforward on the surface, there are many traps for the unwary. The focus of these two CPE hour course is on Schedule C of Form 1040 (sole proprietorship tax returns). Schedule C is applicable to those who file the basic Form 1040, as well as seniors age 65 and older who file Form 1040-SR instead of the basic 1040.

Major Topics Covered :

  • SSN or EIN
  • Accounting Methods
  • Constructive Receipt
  • Prepaid Expenses & Advance Payments
  • Issuing 1099s
  • Health Insurance
  • Retirement Accounts
  • QBI Deduction
  • Net Operating Losses

Connect with us as our world-class tax instructors share knowledge in a high – energy, using real-life experiences, which helps you understand complex topics in an easy manner. 

Learning Objectives

  • To identify which taxpayer has to file Schedule C
  • To recognize the difference between the cash and accrual method, and the right period in which taxpayers must know income and/or deductions
  • To develop a working knowledge of related issues, such as reporting the deduction of self-employed health insurance, employment taxes, home office deductions, and proper reporting of employee/independent contractor salaries and retirement contributions
  • To recognize different types of typical deductions, such as advertising, utilities, supplies, etc.
  • To identify the methods of deducting the cost of a company car.

Who Should Attend?

  • Enrolled Agent
  • Tax Practitioners
  • Bookkeeper
  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Tax Pros
  • Tax Firm
  • Young CPA
  • CPA in Business
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Accounting Practice Owners
  • Senior Accountant
  • Accounts Director
  • Tax Managers
  • Accounting Managers
  • Tax Preparer

Testimonial

4.7

(2973)
71%
25%
3%
0%
0%

CC

What a wonderful webinar! Precise, concise, and to the point, with useful references to read on. I will be looking for more classes with this very knowledgeable presenter. Thank you so much!

NNS

Very knowledgeable and I will be looking for more webinars by Jason. I appreciate the time taken by him to do this webinar.

AK

Valuable Presentation if you do Returns for Schedule C businesses - Presenter, Jason Dineson did a great job! Hope he does more.

KW

The presentation was quite interesting and easy to comprehend. I could listen to this presenter the whole day. Thank you Mr. Dineson and am looking forward to more webinars with you. Aloha !! More webinars with you

BB

Jason has first-hand knowledge of the subject matter and presents it in a concise, well-articulated style. A very worthwhile hour about how to be helpful to clients and yet retain a required healthy skepticism.

AK

I thoroughly enjoyed this webinar. The presenter was knowledgeable and informative and the material was innovative. Preparing your Sch C clients for tax season year-round will remove the burden of gathering info together from the previous year during the first few months of the next year.