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SCHEDULE C FOR 1040 (2019 Updated)

4.5 (715)

Allison McLeod, Doc. of Law

Allison M. McLeod LL.M. CPA A PLLC

Monday, March 30, 2020 | 02:30 PM EDT

2 Credits

FREE

Subject Area

Taxes

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Course Description

1491Strongly Recommended: To CPAs, EAs, Tax professionals and even staff members of CPA & Accounting firms.

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. Combining the real-life experience of a Tax lawyer with this powerful presentation will enable participants to quickly grasp recent tax updates and understanding of Schedule C.

The presentation will cover who should be filing Schedule C, differences between the cash and accrual method, and the correct period in which taxpayers must recognize income and/or deductions, Types of typical deductions, such as advertising, utilities, supplies, etc, Methods of deducting the cost of a company car, section 179 or bonus depreciation, 

Join us as our world-class tax instructors share tax knowledge in a high-energy, using real-life experiences, which make complicated tax topics easily understandable. 

Learning Objectives

  • Identify the appropriate taxpayers who should be filing Schedule C.
  • Discuss the difference between the cash and accrual method, and the correct period in which taxpayers must recognize income and/or deductions.
  • Discuss types of typical deductions, such as advertising, utilities, supplies, etc.
  • Determine the methods of deducting the cost of a company car.
  • Be able to apply the rules, such as Section 179 or bonus depreciation, which permit the immediate expensing of some or all of the cost of certain assets.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Auditors
  • Business Owner
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Outsourced CFO
  • Senior Accountant
  • Tax Firm
  • Tax Practitioners
  • Tax Pros
  • Young CPA

Testimonial

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4.5

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