This LIVE webinar is on 2/11 1 pm - 3 pm EST.
Webinar Description:
This IRS-approved webinar, "Schedule C Updates for Income Tax Filings," happening on February 11th from 1-3 PM, is presented by tax expert Jason Dinesen. This webinar counts for 2 Hours of Federal Tax Law for IRS Continuing Education. While Schedule C, an attachment to Form 1040 and essential in reporting business income, seems straightforward on the surface, there are many traps for the unwary, mainly when adding deductions and ensuring proper reporting of income. This webinar will communicate updated requirements for Schedule C as well as common pitfalls, how to avoid them, and how to provide appropriate due diligence in filing for your clients.
Areas covered in the session:
- SSN or EIN
- Accounting Methods
- Constructive Receipt
- Prepaid Expenses & Advance Payments
- Issuing 1099s
- Home Office Deduction and Calculation
- Health Insurance
- Retirement Accounts
- QBI Deduction
- Net Operating Losses
- Due Diligence
After participating in this webinar, attendees will be able to:
- Understand updated requirements for the Schedule C attachment to the 1040 and 1040-SR.
- Identify complicated issues that create confusion on Schedule C for sole proprietors.
- Manage complicated reporting issues effectively on Schedule C.
- Explain common mistakes and pitfalls on Schedule C to clients and outline requirements to them clearly.
- Ensure proper due diligence on commonly audited items such as the home office deduction.
Why you should attend:
Correctly reporting income, expenses, and deductions on a Schedule C is not a simple task. This webinar will outline current requirements and provide guidance on navigating common pitfalls when completing the 1040 attachment. The opportunity to ensure proper filing and gain knowledge from an expert is not to be missed.
Speaker Information
Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert, and a well-known presenter of continuing education courses.
Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics, and much more.
He has presented dozens of webinars on Form 1099 (for 10 years on this subject!), marriage in the tax code, tax updates, the new Form W-4, payroll updates, filing status, tax credits, corporation and partnership taxation, and other issues relating to the modern-day setting.
Jason always had a knack for speaking and news reporting. He is regularly featured as an anchor for Radio Iowa and Radio Minnesota, is a frequent Podcast Guest, and hosts his own Podcast.
This webinar Counts for 2 Hours of Federal Tax Law for IRS Continuing Education.
