• Course Information

    Title: Medical, Charitable and Casualty
    Category: Taxation
    Field of Study: Taxes
    Course Code: T011-0160
    CPE Credits: 3.0
    Price: $27.95
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Description

Description:
We may all confront issues that directly impact how much we can deduct. This course is designed for participants who want to explore and examine the tax consequences of medical costs, charitable contributions, and casualty and theft losses, especially in relation to their deductibility. The emphasis is examining a wide variety of situations related to these items and the extent to which they may or may not result in a deduction and what limitations on deductibility may be imposed.

Delivery Method: Online Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Course Details

Author: Danny Santucci

Category: Taxation

Field of Study: Taxes

Passing Score: 70%

Publication Date: 02/06/2017

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Objectives

Objectives:
1. Identify the various deductions related to medical costs by
a. Recognizing the differences between deductible and nondeductible items including the types of deductions for dependents; and
b. Specifying the basic characteristics of Health Savings Accounts (HSAs) noting the tax consequences of withdrawals from HSAs and determining self-employed health insurance.
2. Recognize the charitable contribution provisions, identify how contributions of cash, property, and services affect deductibility of contributions of the different types of charitable contributions, and specify the requirements related to substantiation.
3. Determine what constitutes casualty losses, theft losses, and losses on deposits and recognize the issues related to the deductibility of these losses.

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: Enrolled Agents Program Number 263UK-T-00135-14-S

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