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

How To Maximize Itemized Deduction (Latest 2021)

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Jason Dinesen, EA, LPA

Dinesen Tax & Accounting, P.C.

  • AFSP
  • CFEs
  • CPA
  • EA
  • Oregon Tax Preparer
  • CPA/PFS
  • CTEC
  • Maryland Tax Preparer

Published: May, 2021

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-S)

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 )

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

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPD credit (Verifiable) for CPA/PFS

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

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

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

Overview

  • Medical Expenses: Nursing homes/Long-Term care
    2 mins
  • Who is a dependent for medical purposes?
    13 mins
  • What are state and local taxes?
    28 mins
  • HELOCs and Definition of Residence
    45 mins
  • AMT Warning
    53 mins
  • Non-cash Donations
    68 mins
  • Out of pocket expenses
    78 mins
  • Gambling winnings and losses
    88 mins
  • Electing to claim Itemized instead of Standard Deduction
    94 mins

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 webinar will go into depth, beyond the basics, on itemized deductions.

The following topics will be covered in detail:

  • 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 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 webinar is suitable 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

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

Testimonial

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