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Schedule C of Form 1040

CPE SelectAvailable with CPE Select

Online

# of CPE Credits

2

Description

Many self-employed or sole proprietors find themselves having to navigate Schedule C in reporting business income. While this attachment to Form 1040 seems straightforward on the surface, there are many traps for the unwary. This course is ideal for CPAs, EAs, or other tax professionals.

Required Knowledge: None

Advanced Preparation: None

Who Should Attend: This course is ideal for CPAs, EAs, or other tax professionals.

Objective

  • Identify the appropriate taxpayers who should be filing Schedule C.
  • Discuss the difference between the cash and accrual method, and the correct period in which taxpayers must recognize income and/or deductions.
  • Develop a working knowledge of related issues, such as reporting the deduction of self-employed health insurance, employment taxes, home office deductions, and proper reporting of employee/independent contractor salaries. and retirement contributions.
  • Discuss types of typical deductions, such as advertising, utilities, supplies, etc.
  • Determine the methods of deducting the cost of a company car.
  • Be able to apply the rules, such as Section 179 or bonus depreciation, which permit the immediate expensing of some or all of the cost of certain assets.

Credit Types

  • Taxes: 2

Event Speaker(s)

Allison McLeod

Event Level:Basic
Event Code:ODX03725
Event Vendor:CPA Crossings, LLC
Fields of Study:Taxes
Other fields:
  • NCACPA On Demand 365

Registration Fees

RegistrationTypePrice
On Demand (2 hours)Members$100.00
On Demand (2 hours)Non Members$225.00

CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.