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Tax Breaks, Tips, and Updates: Part 2 (Currently Unavailable)

CPE Credit:

2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC

This on-demand course covers the gig economy, Schedule C tips and traps, alimony updates, employer amnesty, and more. Learn how to how to implement tax breaks that impact the Federal 1040 return.

Part 2 of a 2 part series on a variety of tax tips and updates.

Publication Date: January 2020

Designed For
Practitioners at all levels regardless of practice concentration, who would like to learn more about tax planning and legal tax reduction strategies. Also good for taxpayers preparing their own tax returns who want to learn about loopholes.

Topics Covered

Routine Changes and Updates
Accountable and Non”Accountable Plans
Miscellaneous Deductions, Meals and Entertainment
Per Diems and Travel
State Taxes
Business Income and Crowd”Funding
Employee v Independent Contractor
Vehicle Updates
Depreciation
Home Office
Alimony and Divorce
ITINs and CAAs
Foreign Tax Issues
Penalty Relief
Sec 199A

Learning Objectives

Recognize how to implement tax breaks that impact the Federal 1040 return
Recognize the changes to filing deadline and the new form due dates
Identify business income item
Describe provisions of QDRO transfers
Recognize deductible travel expenses
Recognize when tax penalties may be abated
Identify features of home office safe harbor rules
Recognize and apply the new rules for depreciation
Describe what provisions apply to former spouses when dealing with the disposition of personal residence, after a divorce
Recognize and apply client tips and remainder recommendations
Describe rules that apply when using per diems
Identify allowable deductions in addition to standard mileage for auto expenses
Describe true statements regarding Voluntary Classification Settlement Programs (VCSP)
Recognize "The PATH Act" rule changes for ITINs

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
A basic understanding of tax prep.

Advance Preparation
None

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