CPE Online Course Detail


Selected Business Expenses

Price :   $19.95
CPE Credits :   2.0
Course Code :   T011-0139
Category :   Taxation
  

Description:
Business expenses are the costs of carrying on a trade or business, and they are usually deductible if the business is operated to make a profit. This mini-course reviews various expenses that businesses may deduct and the requirements that must be met for those expenses to qualify for deduction. Furthermore, practitioners can use this as a guide to determine which of their clients' taxes are deductible as business expenses.


Delivery Method: Online Self Study


Level: Overview


Prerequisites: None


Advanced Preparation: None


Policies: Click here


Author: Danny Santucci


Category: Taxation


Field of Study: NA


Passing Score: 70%


Publication Date: 01/01/2016


For More Detail: Click here



Objectives:
1. Cite the elements of Section 162 and the limitations imposed by the not-for-profit provisions noting how these elements and restrictions impact business deductions such as cost of goods sold, leases, taxes, loan points, and interest expense.
2. Determine the corporate dividends received deduction, identify the cost allocation on the business use of a residence and specify casualties, thefts and research costs in the context of business deductions under Section 162.
3. Recognize the various methods of amortization for business startup, organizational costs, and Section 179 intangibles with the cost depletion methods used on natural resources.
4. Identify depreciation rules related to ACRS and MACRS, and cite the elements of the business bad debt provisions under Section 166.


For More Objectives: Click here


NASBA: Yes


QAS: Yes


CPA: Suitable for all CPAs


IRS: Enrolled Agents Program Number 263UK-T-00155-14-S




© 2016 MasterCPE LLC
7683 SE 27th St., #216
Mercer Island, WA 98040
    

MasterCPE

Continuing Education for Smart Professionals