Small Business Taxes Made Easy: Common Deductions

Author: Eva Rosenberg

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Join the class to learn how to set up or improve your business during this COVID19 time in the world.This course is based on the tips and tools discussed in TaxMama’s latest book, Small Business Taxes Made Easy. People are always asking what’s deductible. This course will discuss deductions that are common – and maybe not always so common. And how to ensure you don’t lose the deductions if audited.

Publication Date: June 2020

Designed For
Tax practitioners at all levels regardless of tax practice and Business Owners.

Topics Covered

  • Rule of thumb regarding deductions
  • Deductions that are universally allowable
  • Unique deductions in specific trades or industries
  • Mixed use assets and special recordkeeping and logs
  • Depreciation overview
  • Special rules for childcare providers
  • Deductions related to pass-through entities
  • Reconstructing expenses when taxpayer has inadequate records
  • Considerations regarding Sec 199A Qualified Business Income Deductions
  • Deduction resources

Learning Objectives

  • Recognize what deductions are currently acceptable for the business and how to legally maximize the tax benefits of business expenditures
  • Describe true statements about using per diem rates
  • Identify true statements when working with U.S. freelancers
  • Recognize true statements about deductible interest expense
  • Identify Bonus Depreciation on certain qualified property
  • Identify common deductions
  • Recognize what you must have as detail to prove a deduction
  • Describe automobile expenses


Instructional Method

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

Registration Options
Regular Fee $59.00

 Chat — Books Support